MGT602 Final Term Past Papers 21 Set 2

FINAL TERM EXAMINATION · Fall 2008 · MGT602- Entrepreneurship (Session - 1) · Marks: 80

Q1. In some countries, point of purchase displays are not allowed in retail stores. Such differences are studied by international entrepreneurs under __________. Political Environment (1 marks)

Cultural Environment

Technological Environment Economic Environment

Q2. The intersection of knowledge and a recognized social need to start a product development process is called: (1 marks)

Iterative synthesis

Product-evolution process Ordinary innovation Situation analysis

Ref: Iterative synthesis: The intersection of knowledge and social need that starts the product development process (Handouts Page No. 07)

Q3. A set of reasons for engaging in a particular behavior, especially human behavior is known as _____________. (1 marks)

Values Vision Entrepreneurship

Motivation

Reference

Motivation is a reason or set or reasons for engaging in a particular behavior, especially human behavior as studied in psychology and neuropsychology.

Q4. _____________ System is necessary for expansion or elimination of intrapreneurial units. (1 marks)

Management

Evaluation

Reward Training Step 9: The organization needs to implement an evaluation system that allows successful units to expand and unsuccessful ones to be eliminated. (page 21)

Q5. Which one of the following factors does not affect a person for being an entrepreneur? (1 marks)

Work history Education Personal values

Nationality

A potential entrepreneur can be male or female and of any race or nationality.(page 22)

Q6. Which one of the following factors does not affect a person for being an entrepreneur? Family background (1 marks)

Education Personal values

Gender

Q7. Individuals who give psychological support to an entrepreneur are called: (1 marks)

Roles models

Moral support networks

Professional support networks Informal networks

Moral-support network

Individuals who give psychological support to an entrepreneur

Q8. The evaluation criteria for the new product should include all of the following, EXCEPT: Determination of market demand (1 marks)

Determination of the suppliers

Pricing and marketing policies of other competing firms Product should be profitable

Q9. Which one of the following is a method for obtaining new ideas and solutions by focusing on problems? (1 marks)

Product inventory analysis

Gordon method Checklist method

Ref: 3. Problem inventory analysis– it is a method for obtaining new ideas and solutions by focusing on problems.

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Q10. Which one of the following reviews the trends and competitive strategies? Environmental analysis (1 marks)

Product forecast Contingency plan

Industry analysis

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(page 200) 100% sure

Q11. Which of the following is a idea generation method that focuses on parameters? Brainstorming (1 marks)

Reverse brainstorming

Creative problem solving

Synectics

Q12. Which of the following is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis? (1 marks)

Heuristics Attribute listing Value analysis

Q13. Which of the following is the most important factor for the entrepreneur, while starting a new venture, to make an assessment of business? (1 marks)

Profit

Risk

Market Competitors It is important that the entrepreneur make an assessment of risk in the following manner: The entrepreneur should indicate the potential risks to the new venture. Next should be a discussion of what might happen if these risks become reality. Finally the entrepreneur should discuss the strategy to prevent, minimize, or respond to these risks. The entrepreneur should also provide alternative strategies should these risk factors occur.

Q14. The goals of venture should have all of the following characteristics to be successful, EXCEPT: (1 marks)

Measurable Specific