MGT602 Final Term Current Paper August 2023 by Rajpoot

MGT602 - Entrepreneurship

Final term Current Papers updated (Spring 2023)

Q1. Giant companies like Google and Amazon take their domain related technology, expertise and skills and then implement it to a different market. Which type of innovation is employed by Google and Amazon?

1. Incremental innovation
2. Disruptive innovation
3. Architectural innovation Correct (Theme 7 – Page no 1)
4. Radical innovation

Correct answer: Architectural innovation Correct (Theme 7 – Page no 1)

Q2. Which of the following best describes the approach to entrepreneurship in which entrepreneurs focus on the means at hand, which they aim to materialize into one or more goals that were not necessarily predefined?

1. Causation approach
2. Effectuation approach Correct (Theme 7 – Page no 6)
3. Bricolage approach
4. None of the given option are correct

Correct answer: Effectuation approach Correct (Theme 7 – Page no 6)

Q3. Choosing a high return market is an example of:

1. Effectuation approach to entrepreneurship
2. Causation approach to entrepreneurship Correct (Theme 7 – Page no 6)
3. Bricolage approach to entrepreneurship
4. None of the given option are correct

Correct answer: Causation approach to entrepreneurship Correct (Theme 7 – Page no 6)

Q4. Strategy formulation, implementation and _______________ are three main phases of strategic management.

1. Execution
2. Evaluation Correct (Theme 8 – Page no 1)
3. Estimation
4. Appraisal

Correct answer: Evaluation Correct (Theme 8 – Page no 1)

Q5. __________ is a method by which entrepreneurs assess their idea's viability and implement an appropriate strategy that can ensure to a sustainable competitive advantage of venture.

1. Entrepreneurship
2. Strategic management
3. Strategic management process Correct (Theme 8 – Page no 1)
4. Strategic formulation

Correct answer: Strategic management process Correct (Theme 8 – Page no 1)

Q6. __________ is defined as unique advantage over the competitors that an entrepreneur gained by offering consumers greater value either in terms of cost or differentiation of product or services.

1. Competitive advantage Correct (Theme 8 – Page no 4)
2. Economical advantage
3. Political advantage
4. Superior advantage

Correct answer: Competitive advantage Correct (Theme 8 – Page no 4)

Q7. A strategy should be all of the following except:

1. Consistent
2. Feasible
3. Consonant
4. Compact Correct (Theme 8 – Page no 5)

Correct answer: Compact Correct (Theme 8 – Page no 5)

Q8. Which one of the following crises occurs at the fourth phase of "growth through coordination" in the Greiner Growth model of business?

1. Autonomy Crisis
2. Leadership Crisis
3. Red tape Crisis
4. Control Crisis Correct (Theme 12 – Page no 3)

Correct answer: Control Crisis Correct (Theme 12 – Page no 3)

Q9. At the _____________ phase of BCG matrix, a company is often in a monopolistic kind of situation in the market and generates a lot of revenue.

1. Star Correct (Theme 12 – Page no 7)
2. Cash Cow
3. Question mark
4. Dog

Correct answer: Star Correct (Theme 12 – Page no 7)

Q10. Which of the following best describes the innovation type related with implementing existing technology in existing market?

1. Incremental innovation Correct (Theme 7 – Page no 1)
2. Disruptive innovation
3. Architectural innovation
4. Radical innovation

Correct answer: Incremental innovation Correct (Theme 7 – Page no 1)

Q11. _______________ stage of BCG matrix means that the product has a low market share but a high market growth rate.

1. Star
2. Cash Cow
3. Question mark Correct (Theme 12 – Page no 7)
4. Dog

Correct answer: Question mark Correct (Theme 12 – Page no 7)

Q12. ________________ phase of BCG matrix means the product has a high relative market share but low market growth.

1. Star
2. Cash Cow Correct (Theme 12 – Page no 7)
3. Question mark
4. Dog

Correct answer: Cash Cow Correct (Theme 12 – Page no 7)

Q13. A scientific business plan covering all the strategic components of a startup unit is termed as a(n):

1. Marginal business plan
2. Major business plan
3. Informal business plan
4. Formal business plan Correct (ChatGPT)

Correct answer: Formal business plan Correct (ChatGPT)