Entrepreneurship and Small Business Management MCQs and Notes

V

Vinay • 28.75K Points
Instructor II

Q 31. According to Schumpeter, Innovation occur in the following forms:

(A) 2

(B) 3

(C) 4

(D) 5

V

Vijay Sangwan • 28.62K Points
Instructor II

Q 32. What are the main differences between marketing in a 'corporate setting' and an 'entrepreneurial' one?

(A) Lack of resources; lack of brand name; difficulties in making contacts.

(B) Greater emphasis on personal selling and personal networking.

(C) Faster decision making; more personal responsibility.

(D) Better profit margins; lower costs and greater flexibility.

R

Ranjeet • 34.60K Points
Instructor I

Q 33. Establishing a shared vision amongst team members refers to:

(A) Members of the team starting out with an essentially similar set of ideas about what they want to create.

(B) Members of the team sharing moral principles and standards of behaviour.

(C) Members of the team sharing the factors driving them to take part in the venture.

(D) Members of the team sharing profits in an equitable manner.

V

Vinay • 28.75K Points
Instructor II

Q 34. What are the two key issues that arise when you create an effective entrepreneurial team from scratch?

(A) Team mentality and team synergy

(B) Team numbers and team quality

(C) Team composition and team roles

(D) Team experience and team experience

R

Ranjeet • 34.60K Points
Instructor I

Q 35. Why is the notion of 'vision' important in entrepreneurship?

(A) Without it there is no driving force or sense of direction.

(B) People need a sense of fantasy in order to create ambitious ventures.

(C) Investors prefer to invest in visionaries.

(D) Having a vision helps to create a paradigm shift.

G

Gopal Sharma • 38.32K Points
Coach

Q 36. Pichot suggested three roles for the intrapreneur in promoting innovation. What are they?

(A) Team builder, information source and advocate

(B) Inventor, innovator and sponsor

(C) Inventor, developer and marketer

(D) Inventor, product champion and sponsor

P

Priyanka Tomar • 35.28K Points
Coach

Q 37. Which statement is not true of entrepreneurs?

(A) They change the way businesses convert inputs into outputs

(B) They generally stick to the processes already in use.

(C) They take risks

(D) They apply innovative ideas

A

Admin • 36.95K Points
Coach

Q 38. Can entrepreneurship be 'learned'?

(A) Entrepreneurs are born and not made

(B) It's a discipline and like any other discipline it can be learned.

(C) You will never become an entrepreneur simply by reading a book

(D) Practical exercises, study and critical reflection can be a good way to think about

V

Vinay • 28.75K Points
Instructor II

Q 39. The goals motivating entrepreneurial activity can include which of the following options:

(A) To improve the social welfare of people, e.g. in terms of their health.

(B) To improve the wealth of the entrepreneurs.

(C) To maintain influence amongst powerful local figures.

(D) All of the above.

G

Gopal Sharma • 38.32K Points
Coach

Q 40. Intrapreneurship often takes the form of ...

(A) a semi-autonomous group (e.g. an internal venture team), operating within the overarching structure of the parent organization.

(B) a spinout venture from a university to commercial a new invention.

(C) a subsidiary of a large corporation developing a new product.

(D) a semi-autonomous group operating outside the overarching structure of the parent organization.