MGT602 Final Term Objective

MGT602 11 Finalterm Papers and Important · MCQs Solved… · By Honey G(Abdul Haiee) · Paper No. 01 · FINALTERM EXAMINATION · Spring 2010 · MGT602- Entrepreneurship · Solved By Honey G <abdulhaiee2004 >

Q1. (Marks: 1)

Which one of the following is important for international business to avoid trade barriers?

1. Protectionist attitude
2. Entrepreneurial partnering
3. Free trade areas
4. None of the given options

Ref: Instructor Reply: There are different sort of barriers to international trade such as General Agreement on Tariffs and Trade, increasing protectionist attitude, trade blocks and free trade areas. In response to avoid these barriers entrepreneurs adopt a strategy known as entrepreneurial partnering. According to this strategy an entrepreneur who wants to enter in international market makes partnership with another entrepreneur of a foreign country

Q2. (Marks: 1)

The concept of World Wide Web pages was developed in:

1. 1960s
2. 1970s
3. 1980s
4. 1990s

Ref: In the early 1990s the concept of World Wide Web pages was developed.

(Handouts Page No. 44)

Q3. (Marks: 1)

Which one the following is the best protection against product liability?

1. Avoid negligence
2. Warn consumers of any potential hazards
3. Give warranty
4. Avoid misrepresentation

Ref: The best protection against product liability is to produce safe products and to warn consumers of any potential hazards. (Handouts Page No. 52)

Q4. (Marks: 1)

Which of the following is a powerful marketing tool for expansion of business in new market?

1. Licensing
2. Product safety
3. Insurance
4. Copy rights

Ref: Licensing, when used effectively, can be as powerful a marketing tool as advertising or public relations

Q5. (Marks: 1)

Bankers say that most businesses fail because of the _____ inability to plan properly.

1. Investor’s
2. Marketer’s
3. Entrepreneur’s
4. Consultant’s

Ref: Bankers say that most businesses fail because of the entrepreneur’s inability to plan effectively (Handouts Page No. 60)

Q6. (Marks: 1)

Which of the following plan has names, addresses, and resumes of the directors and officers of the corporation?

1. Operations
2. Marketing
3. Production
4. Organizational

Ref: The organizational plan section should describe the venture’s form of ownership. If the venture is a corporation, this should include the number of shares authorized, share options, and names and addresses of the directors and officers. (Handouts Page No. 58)

Q7. (Marks: 1)

Which of the following is necessary to initiate the market research?

1. Data
2. Budget
3. Problem
4. Objectives

Ref: Market research begins with definition of objectives. Many entrepreneurs don’t know what they want to accomplish from a research study. (Handouts Page No. 62)

Q8. (Marks: 1)

Which of the following should be considered when the market for new venture is highly concentrated?

1. Indirect Sale
2. Direct Sale
3. Market Research
4. None of the given options

Ref:

+new+venture+is+highly+concentrated+market+research&hl=en&ei=D3oxTbK1F5aQ4g b9nO3SCg&sa=X&oi=book_result&ct=result&resnum=2&ved=0CCwQ6AEwAQ#v=on epage&q=the%20market%20for%20new%20venture%20is%20highly%20concentrated% 20market%20research&f=false

Q9. ( Marks: 1 )

Which of the following is a process of dividing the market into smaller homogeneous groups?

1. Situation analysis
2. Marketing
3. Market segmentation
4. Target marketing

Ref: Market segmentation is the process of dividing the market into smaller homogeneous groups. (Handouts Page No. 65)

Q10. (Marks: 1)

Which statement of the following relates with the ultimate goal of Business?

1. Vision Statement
2. Mission Statement
3. Goal Statement
4. Profit Statement

Ref: A mission is a statement of direction, the ultimate goal of a company. A target is an achievable, measurable and realistic decision of where an individual wants to be in a specific period of time.

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Q11. (Marks: 1)

Which of the following is the most sensitive plan in the business plan?

1. Financial Plan
2. Marketing Plan
3. Production Plan
4. Operational Plan

Q12. (Marks: 1)

Which of the following shows the standard acceptable term of a Limited Liability