Entrepreneurship and New Venture Creation (ENTR601)-Semester III
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1st Module Assessment
Question 1. Someone who improves an existing business can be called __?
Select one:
a. A professional
b. An intrapreneur
c. A co-worker
d. A changeling
Clear my choice
Question 2. Which of the following is the reason for business failure?
Select one:
a. Poor financial control
b. Lack of market research
c. Poor management
d. All the above
Clear my choice
Question 3. An individual who initiates, creates and manages a new business can be called _.
Select one:
a. A professional
b. A manager
c. A leader
d. An entrepreneur
Clear my choice
Question 4. Members of distribution channels are excellent sources for new ideas because:
Select one:
a. They earn a handsome profit from new business
b. They are familiar with the needs of the market
c. They have well-developed sales force
d. They do not bother if entrepreneur bears a loss
Clear my choice
The French word from which the word entrepreneur has been derived is called . Select one: a. entreprenture b. entroprenture c. entreprendure d. Ontreprendure Question 5. EDP (Entrepreneurship Development Programmes) is required to help: Select one: a. First generation entrepreneurs b. Existing entrepreneurs c. Future generation entrepreneurs d. None of the above Clear my choice Question 6. Entrepreneurs are best as __________ .
Select one:
a. Venture Capitalists
b. Planners
c. Doers
d. Managers
Clear my choice
Question 7. A business arrangement where one party allows another party to use a business name and sell its products or services is known as__________.
Select one:
a. A franchise
b. A cooperative.
c. An owner-manager business
d. A limited company
Clear my choice
Question 8. Which one of the following is not the broad categories of External forces?
Select one:
a. Competitive forces
b. Economic forces
c. Technological forces
d. S Socioeconomic forces
Clear my choice
Question 9. Why are small businesses important to a country’s economy?
Select one:
a. They can provide specialist support to larger companies
b. They can be innovators of new products.
c. They give an outlet for entrepreneurs.
d. All the above.
Clear my choice
Question 10. .______ requires proper review and reconsideration of the selected alternative before implementing it.
Select one:
a. Selecting the best alternative
b. Developing possible alternatives
c. Checking the decision
d. None of the given options
Clear my choice
A business arrangement where one party allows another party to use a business name and sell its products or services is known as__________.
Select one:
a. A franchise.
b. A cooperative.
c. An owner-manager business.
d. A limited company
Question 11. Foundation companies are formed from:
Select one:
a. Research and development
b. Most popular business
c. Fashion
d. winding up company
Clear my choice
Question 12. The best definition of Inovation is :
Select one:
a. The evolution of new ideas
b. The genertion of new ideas
c. The opposite of creativity
d. the successful exploitation ofnew ideas
Clear my choice
Question 13. Which of the following actions by an entrepreneur is most likely to contribute to creative destruction?
Select one:
a. Take-over of a competitor
b. Issuing Shares
c. Development of a new product
d. Reducing Prices
Clear my choice
Question 14. Schumpeter considered that innovative entrepreenurs would:
Select one:
a. Disappear
b. Thrive
c. Be absorbed within large innovative firms
d. BE absorbed within non-innovtive firms
Clear my choice
Question 15. Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance?
Select one:
a. Need for independence
b. Need for achievement
c. Need for affiliation
d. Need for authority
Clear my choice
Question 16. Innovative small frms are more likely in :
Select one:
a. Biotechnology
b. Knowledge-based sectors
c. Aerospave manufacture
d. Automobile macfactue
Clear my choice
Question 17. Why are small businesses important to a country’s economy?
Select one:
a. They can provide specialist support to larger companies
b. They give an outlet for entrepreneurs.
c. They can be innovators of new products
d. All the above.
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2nd Module Assessment
Question 1. When selecting a line of action, an Entrepreneur must keep in mind:
Select one:
a. Risk involved
b. Profit
c. Profitability
d. All the given options
Clear my choice
Question 2. Which of the following is among the aspects of technical feasibility study?
Select one:
a. Location
b. Demand
c. Security
d. Instruction
Clear my choice
Question 3. is the process of determining whether an event idea is viable.
Select one:
a. Opportunity recognition
b. Feasibility analysis
c. Achievability analysis
d. Viability analysis
Clear my choice
Question 4. All the things needed for an event to work are . Select one: a. Role b. Resources c. Organisation d. Goal Clear my choice Question 5. MSMED stands to ____.
Select one:
a. Mini, Small & Medium Enterprises Development
b. Micro, Small & Medium Enterprises Development
c. Micro, Small & Medium Entrepreneurship Development
d. Micro, Small & Medium Enterprises Department
Clear my choice
Question 6. The financial plan presents _ for the future of the company. Select one: a. Finances b. Forecasts c. Trends d. Studies Clear my choice Question 7. A _________________ establishes the scope and purpose of a company and reflects its values and beliefs.
Select one:
a. Vision Statement
b. Mission Statement
c. executive summary
d. None of the following
Clear my choice
Question 8. The proper time to conduct a feasibility analysis.
Select one:
a. Late in thinking
b. Early in thinking
c. Hey, it might snow!
d. Who cares!
Clear my choice
Question 9. The _ plan shows whether the business is economically feasible or not.
Select one:
a. Business
b. Financial
c. Economic
d. Marketing
Clear my choice
Question 10. Which of the following is not the purpose of Feasibility Study?
Select one:
a. Establish market trends
b. Provide quality information for decision making
c. Give focus to the project and outline alternatives
d. Specify business alternatives
Clear my choice
Which of the following is not the expectation of acc A feasible or viable event idea?
Select one:
a. Generate adequate cash flow and profits
b. Generate adequate cash flow and profits
c. Meet the goals of the founders
d. Remain viable in short period
Question 11. Why is it important for an entrepreneur to do a feasibility study for starting a new venture?
Select one:
a. To identify possible sources of funds
b. To see if there are possible barriers to success
c. To explore potential customers
d. To estimate the expected sales
Clear my choice
The next stage to the Concept Stage of Product Planning and Development Process is:
Select one:
a. Product Planning Stage
b. Idea Stage
c. Product Development Stage
d. Test Marketing Stage
Question 12. Which of the following factors shouldnot be included in PESTLE analysis?
Select one:
a. Proposed reduction in interest rates
b. Government re-cycling policy
c. Demographic changes.
d. Competitor activity
Clear my choice
Question 13. The period of business when an entrepreneur must position the venture in a market and make necessary adjustments to assure survival is called the:
Select one:
a. Startup stage
b. Pre-startup stage
c. Early growth stage
d. Later growth stage.
Clear my choice
Question 14. External links may provide incentives to:
Select one:
a. Introduce improvements to products
b. Raise finance
c. Introduce new working practives
d. Attend business exhibitions
Clear my choice
Question 15. Planning for profits includes:
Select one:
a. Evaluating profit potential
b. Controlling cost & budgeting
c. Forecasting sales & Budgeting
d. All the given options
Clear my choice
Question 16. Which of the following geographical area is having least interest to U.S. entrepreneurs?
Select one:
a. The Far East
b. Central Asia
c. Europe
d. Transition Economies
Clear my choice
Question 17. According to peter Drucker, entrepreneurship is:
Select one:
a. An Art
b. A Practice
c. A Science
d. All of the given options
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3rd Module Assessment
This is a planned set of questions to which individuals or groups of people respond.
a.
Survey
b.
Invoice
c.
None of the above
Question 2. ________ feasibility is an assessment of the overall appeal of the product or service being proposed.
a.
Industry/market segment
b.
Product/service
c.
Industry/market
d.
Purchaser/end-user
Question 3. How can an entrepreneur learn about and understand the industry related to their idea for a new event?
a.
Take a class or course related to the industry.
b.
Read books and journals about the industry.
c.
Interview people who currently work in the industry.
d.
All of these are correct.
Question 4. Risk in project management is defined as Understanding Startup Finances, Capital & Other Requirements and Developing Team and Presenting Business Plan.
a.
An uncertain event that, if it occurs, has a negative effect on project objectives
b.
An uncertain event that, if it occurs, has a positive effect on project objectives
c.
An uncertain event that, if it occurs, has a positive or negative effect on project objectives
d.
.An uncertain event that do not have any effect on project objectives
Question 5. What are internal sources of capital?
a.
Generated through loans from commercial banks.
b.
Generated through issue of shares.
c.
Generated within the business.
d.
Generated through outsiders such as suppliers
Question 6. A ______________ is a professional money manager who makes risk investment from a pool of equity capital to obtain a high rate of return on investments.
a.
Entrepreneur
b.
Venture capitalist
c.
Businessman
d.
Buyer
Question 7. Financial feasibility analysis can be done by comparing ______________ with the estimated sales figure.
a.
break-even point
b.
cash flow statement
c.
balance sheet
d.
profit and loss statement
Question 8. Entrepreneurs and ventures capitalists:
a.
Are in conflict
b.
Get along well
c.
Are the best friends
d.
Are cordial friends
Question 9. The funds needed for buying current assets are:
a.
Fixed capital requirement
b.
Lease financing.
c.
Working capital requirement
d.
Ploughing back of profits.
Question 10. Government reports would be which kind of market research?
a.
Quantitative Research
b.
Field Research
c.
Desk Research ?
d.
Target Research
Question 11. In __________________, the entrepreneur has the right to sell any assets.
a.
Partnership
b.
Proprietorship
c.
Limited Liability Company
d.
None of the given options
Question 12. The purpose of all good small business strategy is:
a.
To increase profitabily
b.
To increase turnover
c.
to achieve stated objectives
d.
To achieve competitive advantage
Question 13. Government grants are generally offered to businesses in:
a.
Cold areas
b.
Properous areas
c.
Economically deprived areas
d.
Areas with high employment
Question 14. Having more than 50% ownership position that provides the entrepreneur with managerial control is called ___________.
a.
Majority interest
b.
Joint venture
c.
Horizontal merger
d.
Diversified activity merge
Question 15. The entrepreneur was distinguished from capital provider in:
a.
17th century
b.
Middle ages
c.
18th century
d.
19th and 20th century
Question 16. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):
a.
Rs. 20 Lakh
b.
Rs. 25 Lakh
c.
Rs. 15 Lakh
d.
Rs. 30 Lakh
Question 17. Sepcial issues are faced by innovative entrepreneurs in raising:
a.
Seed Capital
b.
Structured Capital
c.
Human Capital
d.
Development Capital
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4th Module Assessment
What are the advantages of creating a business plan?
a.
It allows the entrepreneur to focus on what they want to accomplish
b.
Allows the process they will take to do it become simple and easy
c.
Allows them to accomplish their desired task
d.
All of the given options
Question 2. The cover page of a business plan should contain:
a.
Contact information
b.
key financial highlights
c.
the funding request
d.
None of the given options
Question 3. The _____________ section of the business plan should be written last.
a.
executive summary
b.
appendices
c.
financial statements
d.
None of the given options
Question 4. Large investment is made in fixed assets, the project will be termed as __________.
a.
Opportunity Scanning
b.
Project
c.
Idea generation
d.
Strategy
Question 5. To provide financial assistance to entrepreneurs the government has set up a number of___________.
a.
Financial Intermediaries
b.
Industrial Estates
c.
Financial Advisors
d.
Financial Institutions
Question 6. ______________ is a form of financing especially for funding high technology, high risk and perceived high reward projects.
a.
Current Capital
b.
Fixed Capital
c.
Venture Capital
d.
Seed Capital
Question 7. Why are business plans used for potential investors and banks?
a.
They are not used by investors and banks
b.
For start up funds
c.
They are only used by banks NOT investors
d.
None of the given options
Question 8. The activity which occurs when the new venture is started are called:
a.
Motivation
b.
Business Skills
c.
Depature Point
d.
Goal Orientation
Question 9. What is a business plan?
a.
A written plan that is a description of all the aspects of the business and includes the business’s goals
b.
A gallery of photos that explains the location and construction of the business
c.
A collection of plans that are combined from different business and then analyzed and compared to your business
d.
none of the above are correct; a business plan is simply a list of guidelines that tell successful business’s how to run their company in order to make a profit
Question 10. State True or False: If your executive summary is more than three pages it will most likely not be read.
a.
True: too much is not needed when writing an executive summary the readers will be bored
b.
False: More is always needed when writing an executive summary
c.
Both of the given options
d.
None of the given options
What is the most important part of your business plan? Select one:
a. Table of Contents b. Financial Plan c. Background d. Executive Summary
Question 11. Which of the following parts of a business plan include the cash flow projection and the repayment plan?
a.
Financial Plan
b.
Background and History
c.
Market Research
d.
Executive Summary
Question 12. Which could provide an indicidual with the motivation to start a new business veture?
a.
A desire to be independent
b.
The financial rewards
c.
Risk taking
d.
All the above
Question 13. A new venture’s business plan is important because ______.
a.
Can help demonstrate the viability of the venture.
b.
It helps to persuade others to commit funding to the venture.
c.
Provides a guide for business activities by defining objective
d.
All the above
A _____________ is a document that thoroughly explains a business idea and how it will be carried out.
Select one:
a.
Financial Analysis
b.
Marketing Plan
c.
Business Plan
d.
None of the given options
Question 14. The quick verbal summary of a business plan is called a(n):
a.
Concept pitch
b.
Elevator pitch
c.
Concept pitch
d.
None of the given options
Question 15. Which part of the business plan explains the process of attraction of customers to your business and how you determined the appropriate customers?
a.
Financial Plan
b.
Market Research/anaylsis
c.
Background and History
d.
All the above.
Question 16. Which statement is correct about the difference between the Start Up Plan and the Occupational Plan?
a.
Occupational Plan describes in detail how your business will operate
b.
Start Up Plan- Includes diagrams of production or areas of service
c.
Start Up Plan- explains why you chose the business frame and location
d.
The Occupational Plan tells where you want and plan to start the busines
Question 17. A business plan should be _______________ to convey critical information to potential investors.
a.
Complex and technical
b.
crisp and concise
c.
lond and detailed
d.
None of the above
29
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5th Module Assessment
29
________ is primarily concerned with the identification of the project demand potential and the selection of the optimal technology.
a. Feasibility analysis.
b. Techno-economic analysis.
c. Input analysis.
d. Financial analysis.
Innovative small firms are more likely in:
a.
Biotechnology
b.
Automobile manufacture
c.
Aerospace manufacture
d.
Knowledge-based sectors
Question 2. Memorandum of association of a firm contains _______.
a.
Management Competencies
b.
Rules regarding the internal management of the company.
c.
Rules regarding the constitution.
d.
Rules regarding the external management.
Question 3. The term ___________ denotes bonus or financial aid which is given by a government to an industry to help it compete with other units.
a.
Incentive
b.
Bounty
c.
Concession
d.
Subsidy
Question 4. A business arrangement where one party allows another party to use a business Name and sell its products or services is known as a/an __________.
a.
franchise
b.
cooperative.
c.
limited company
d.
owner-manager business
Question 5. Strategic plan formulate the effective management concentrates on opportunities and threats in:
a.
Short-range plans
b.
Long-range plans
c.
Medium range plans
d.
Capital Plans
Question 6. Which of the following is NOT recognized as a misconception about entrepreneurship?
a.
Entrepreneurship is found only is small businesses
b.
Successful entrepreneurship needs only a great idea.
c.
Entrepreneurship is easy.
d.
Entrepreneurial ventures and small businesses are different
Question 7. Innovative entrepreneurs may have to pay high insurance premiums due to the:
a.
The need to protect patents
b.
greater employee liability
c.
Greater customer liability
d.
Greater trading risks
Question 8. Networking by innovative entrepreneurs may be most encouraged by:
a.
Business Incubators
b.
Science Parks
c.
Business Associations
d.
Chambers of Commerce
Question 9. The _________ plan should contain control points to ascertain progress.
a.
Marketing
b.
Business
c.
Financial
d.
Operational
Question 10. Which one of the following is not considered as one of the building blocks of the model entrepreneur?
a.
Management Competencies
b.
Business Awareness
c.
Personal Attributes
d.
Technical Skills
Question 11. Ongoing scanning at an almost unconscious level is:
a.
Indirect Scanning
b.
Passive Scanning
c.
Active Scanning
d.
Directed Scanning
Question 12. The internal environmental scanning includes _____________________.
a.
Culture (beliefs, expectations, values)
b.
Structure (Chain of command)
c.
Resources (assets, skills,competencies, Knowledge)
d.
All the options given
Question 13. Decisions taken by an entrepreneur on behalf of his enterprise are known as _________.
a.
Personal Decisions
b.
Strategic Decisions
c.
Organistional Decisions
d.
Routine Decisions
Question 14. An entrepreneur works for _______________________.
a.
Remuneration
b.
Salary
c.
Profits
d.
Commission
Trademarks relate to: Select one: a. Practice & knowledge acquired through experience b. The right to reproduce ones own original work. c. Brand Identity d. The protection of propriety information of commercial value.
Question 15. Decisions which are concerned with policy matters and exercise fundamental influence on the objectives of the organization are called as____________.
Select one:
a.
Personal Decisions
b.
Organistional Decisions
c.
Strategic Decisions
d.
Routing Decisiosns
Question 16. The main objective of business planning is to provide and implement the:
a.
Good & systematic business plan
b.
Formal & straight business plan
c.
Informal & systematic business plan
d.
Formal & systematic business plan
Question 17. _________ is the process of conducting programs (activities needed to accomplish a plan),budgets (cost of the programs), and procedures (sequence of steps needed to do the job).
Select one:
a.
Strategy Implementation
b.
Strategy Formulation
c.
Both (A) and (B)
d.
Neither (A) nor (B)
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Assignment 2
CASE STUDY : Kishfisher Airlines: A Case of Strategic Failure Kishfisher Airlines Limited was established in 2003 as an airline group with its head office in Mumbai, India. The sirline group was once considered as one of the six five-star rated airlines of the world. It had a network of more than 77 destinations, including both domestic and international. Till 2011, Kingfisher Airlines had the second largest share of the domestic air travel market in India. However, the airline was never reported to earn profits since its starting . The situation became worse when it acquired Air Deccan in 2007. The company suffered loss of over Rs. 1,000 crore for the next thee executive years Many experts considered this acquisition as a huge mistake because Kishfisher Airlines had always potrayed its image as a premium class-airline. Acquiring Air Deccan led to brand conflict among the customers, as it was a low-cost airline and therefore, miserably weakened the brand positioning of Kingfisher Airlines. Customers failed to differentiate the services of Kishfisher with the acquired airline that diluted the exiting brand equity of Kishfisher Airlines. In September 2011, the chairman and managing director of Kingfisher Airlines made following disclosure to the Bombay Stock Exchange(BSE). “The Company has incurred substantial losses and its net worth has been eroded.” By 2012, the airline entered serious financial crisis, which resulted into freezing of its bank accounts by the Indian Income Tax Department. The situation of loss and financial crisis made Kingfisher Airlines to suffer from huge debts and interest as well. Though Kingfisher Airlines build an image of luxurious and glamorous airline in consumer’s mind, it started failing to meet the consumers’ expectations due to poor financial conditons. With increasing debts, Kisgfisher Airlines was unable to pay salaries, which negatively affected the promised delivery of services to the customers. Most of the unpaid employees resigned from their jobs which disrupted the airlines’ operation and led to reduction of per day flights. During late February, 2012 Kingfisher Airlines shut down most international short-haul operations and also closed bookings ( temporarily). All these reasons led to Kingfisher Airlines to result into a huge service failure to the customers, shareholders and suppliers. The increasing operational costs slowed down their high-end services to customers. They failed to deliver services at reasonable cost and maintain punctuality. Kingfisher Airlines was always attentive on satisfying the higher level needs of the customer like travel delight and in-flight experience and failed to deliver basic services like safety and economy ricing to cater to Indian customers. The Kingfisher Airlines started losing its customer base as the customers were deeply dissatisfied with its poor service quality. The increasing numbers of cancelled and delayed flights, poor quality of basic amenities like food, drinking water and cleanliness,lack of communication, and pitiable employee assistance has not only made the situation worst for Kingfisher Airlines, but also became the massive reasons of service failure for its customers.
What is the theme of the passage?
a.
Kishfisher Airlines enjoyed a premium image in the airline industry
b.
Most of the unpaid employees resigned from their jobs which disrupted the airlines’ operation
c.
The strategic failure of Kishfisher Airlines
d.
None of the given options
Question 2. Who was the Chairman and Managing Director of KishfisherAirlines?
a.
Mr. Ajay Singh
b.
Dr. Vijay Mallaya
c.
Captain G. R. Gopinath
d.
None of the given options
Question 3. What is the meaning of acquiring a company?
a.
A way for companies to expand their reach, expand into new segments, or gain market share.
b.
It is a corporate action where one company purchases most of or all of another company’s shares to gain control of that company.
c.
An agreement that unites two existing companies into one new company
d.
None of the given options
Question 4. Why was acquisition with Deccan Airlines considered as a huge mistake by the experts?
a.
Acquisition of Deccan Airlines led to brand conflict among the customers
b.
Kishfisher Airlines had always potrayed its image as a premium class airline.
c.
The acquition led to weaking of the brand positioning of Kingfisher Airlines.
d.
All of the given options.
Question 5. What was the outcome of the increasing debts of Kishfisher Airlines?
a.
The unpaid employees resigned from their jobs
b.
The company was unable to pay salaries to its employees
c.
None of the options given
d.
Both (A) and (B)
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