Entrepreneurship and Small Business Management MCQs

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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
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Correct Answer: Option (D)
Explanation:
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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.
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Correct Answer: Option (A)
Explanation:
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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.
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Correct Answer: Option (C)
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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
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Correct Answer: Option (C)
Explanation:
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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.
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Correct Answer: Option (A)
Explanation:
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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
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Correct Answer: Option (D)
Explanation:
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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
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Correct Answer: Option (B)
Explanation:
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A

Admin • 37.06K 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
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Correct Answer: Option (D)
Explanation:
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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.
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Correct Answer: Option (A)
Explanation:
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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.
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Correct Answer: Option (A)
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