Tag: entrepreneurship

Questions Related to entrepreneurship

Which one of the following has the primary motive of independence and ability to advance in the corporate rewards?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Traditional managers

  2. Entrepreneurs

  3. Intrapreneurs

  4. Administrative managers

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Correct Option: C

According to our discussion, what is the best way a government can support entrepreneurs?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Ensure for access to smart capital

  2. Provides advice and information at one stop shop

  3. Have access to right skill

  4. All of the above

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Correct Option: D

Entrepreneurs _________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. recognize that their fear of failure outweighs their excitement for building a new business.

  2. see failure for what it really is: an opportunity to learn what doesn't work.

  3. recognize that failure is a natural part of the creative process.

  4. both (b) and (c)

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Correct Option: D

Is it necessary to focus on establishment of networks for entrepreneurs development?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Yes

  2. Partially yes.

  3. Completely false

  4. Can't say about it.

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Correct Option: A

In an international perspective, which of the following decisions are not covered under strategic planning of an entrepreneur?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. What are unique characteristics of each market?

  2. Who should be involved in marketing decisions?

  3. What customers benefits are provided by the products?

  4. What are the company's major strengths and weaknesses?

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Correct Option: A

A business plan is _______.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. a plain document

  2. a document that summarizes the operational objective of organization

  3. a document that summarizes the financial objectives of a business

  4. Both (b) and (c)

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Correct Option: D

The primary motivating force behind entrepreneurs is ____________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. fame

  2. money

  3. recognition

  4. achievement

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Correct Option: D
Explanation:
According to McClelland's Theory of Achievement Motivation entrepreneurs are the people who do things in a better way and makes decisions in times of uncertainty. The dream to achieve big things overpowers monetary or other external incentives.

If a business is very complex, it will only grow successfully if the entrepreneur ________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. is comfortable giving up control to professional management

  2. keeps everything under his control

  3. uses the classic entrepreneurial management style

  4. is a craftsman

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Correct Option: A

Who suggests that the process of innovation is actually of spontaneous "undeliberate learning"?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. David Ricardo

  2. Kirzner

  3. Adam Smith

  4. John Stuart Mill

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Correct Option: B
Explanation:

Kirzner suggests that the process of innovation is actually of spontaneous "Undeliberate Learning" (1985). Thus, the necessary characteristics of entrepreneurship is alertness and recognizing the upcoming opportunities.

Ongoing scanning at an almost unconscious level is ________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. indirect scanning

  2. passive scanning

  3. active scanning

  4. directed scanning

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Correct Option: B
Explanation:

Scanning of opportunities is emerging as an important area in the topic of entrepreneurship. Continuous scanning of the operating environment needs to be done in order to stay competitive.

        Ongoing scanning at an almost unconscious level is called Passive Scanning. No effort is made to select a particular information to scan. It is a continuous process.