MGT602 Final Term Solved Paper 2 by Adnan Awan

FINALTERM EXAMINATION · Spring 2010 · MGT602- Entrepreneurship · By Muhammad Adnan · Time: 90 min · Marks: 69

Q1. 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)

1. Profit
2. Risk
3. Market
4. Competitors

Correct answer: Risk

Q2. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? (1 marks)

1. Idea Stage
2. Product Planning Stage
3. Product Development Stage
4. Test Marketing Stage

Product planning and development process Generally divided into five major stages: idea stage, concept stage, product development stage, test marketing stage, test marketing stage, and commercialization stage

Q3. Which of the following type of commitment is necessary from the for the satisfaction of Investors? (1 marks)

1. Seasonal
2. Full time
3. Conditional
4. Satisfactory

Correct answer: Full time

Rationale: Investors will not be positive about a venture that does not have full-time commitment

Q4. Individuals who help the entrepreneur in business activities (1 marks)

Role models

Professional-support network

Parents None of the mentioned options

Q5. Which of the following is included in the description of the business? (1 marks)

1. Location
2. Products offered
3. History
4. All of the given options

Correct answer: All of the given options

Q6. (1 marks)

1. Indirect sales
2. Trade magazine advertising
3. Direct sales
4. Trade shows

Correct answer: Indirect sales

Q7. Which of the following factors along with organization's internal factors may change the direction of plan? (1 marks)

1. Personal
2. Environmental
3. Business
4. Market

Correct answer: Environmental

Updating the Plan Environmental factors and internal factors can change the direction of the plan. It is important to be sensitive to changes in the company, industry, and market.

Q8. / - Please choose one (1 marks)

The goals of venture should have all of the following characteristics to be successful,

EXCEPT:

1. Measurable
2. Specific
3. Properly monitored
4. Independent of time

Correct answer: Independent of time

Q9. Which of the following plan has names, addresses, and resumes of the directors and officers of the corporation? (1 marks)

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

Correct answer: Organizational

Organizational Plan

This should include the number of shares authorized, share options, and names and addresses of the directors and officers. It is helpful to provide an organization chart indicating the line of authority. This chart shows the investor who controls the organization and how members interact.

Q10. A/an ______ is an online connection between the company and its customers. (1 marks)

1. Internet advertising
2. Website
3. E-Commerce
4. World Wide Web

Correct answer: Website