MGT602 Final Term Subjective and Objective 2024 by Sulman Ali

MGT602 SUB/OBJECTIVES · FINAL TERM- 100% · ENTREPRENEURSHIP · GUESS PAPER 2024 · BY SULMAN ALI GUJJAR · OBJECTIVES

1. Social pressure is the type of which of the following business in innovation? Personal

barriers

2. Which is not principle of effectuation? Crazy pilot principle
3. Which principle deals with the assessing downsides of things and examining what an entrepreneur can lose ____ Affordable Loss Principle
4. -------- Controlling one’s environment and being responsible of decision made.----

PILOT IN THE PLAN

5. Strategic management and entrepreneurship are ---------to each other. -----somehow

related

6. -------- Are potential options available in external environment that a venture/entrepreneur can exploit to achieve its vision, mission, goals and objectives.------ ------ Opportunities
7. -------Are negative forces in external environment that inhibit the business venture’s capability. ---- Threats
8. Focus strategy where an entrepreneur selects one or more narrow (niche) market
9. Reel camera and Symbian phone technology markets are at the -------stage of the industry------Decline stage
10. which is not phase in BCG Matrix? BULL
11. ----------Stage of BCG matrix means that the product has low market share and high market growth rate.---- Question mark.
12. Sequence where writing business plan--------- Business Idea, Business plan,

practical business

13. Which section of the business plan holds supporting documents for actual business plan?- ---- Appendix
14. Which section ---------- pitches the opportunity rationale.-------- Executive

Summary

15. Information about the legal status------- is given in the section------------ Title Page

Q16. Which of the following the statements deals with addition in cash?

17. Which of the following associated the amount of the income earned with resources to generate it. --- Profitability Ratios.
18. ---------Measure the overall financial stability of firm----------- Financial Stability

Ratios

19. Net profit margin = Net income/----------- Net Sales
20. Rent and insurance are the types of---------- Fixed costs
21. Which of the following divides an organizational structure based on industries or customers? ----- Market-Based Structure
22. The amount of money which is required and given in payment for buying somethings----- --- Price
23. Which is not institutional markets ---------- GROUP OF STUDENTS
24. Which is the institutional markets ---------- hospitals
25. Which is the example of consumer market --------- buying decision.
26. -------not consumer market ---------
27. what is the 4th phase of grenier growth model? control crisis
28. what is the 3rd phase in growth through delegation? autonomy crisis
29. which of the following is not the principle of effectuation? Crazy pilot principle
30. Definition of pilot in the plane principle. you are yourself responsible for everything. Your future can be influenced by your own actions.
31. Definition of bird in hand principle. Create solutions to the problem with the means/resources available at the moment
32. social pressure is type of which barrier? personal barriers
33. what is internal beneficiary of business plan. potential employee
34. what is external benefit in business plan. potential investor
35. Tools using to address the needs of customers belong to? Approach section
36. Approach discusses the (tool, resources, mechanism)
37. ____ are external user ( consumer)
38. _____suggests how to create uncontested market space and make the competition irrelevant. (Blue Ocean Strategy)
39. ______are negative forces available in the external environment that inhibit the business venture’s capability to achieve its vision, mission, goals and objectives.(Threats)
40. B2C and B2B are (totally different organisms )
41. Incremental Innovation: is referred to the series of improvements a company make in its existing products and services with time.
42. Architectural innovation: is what the giant companies like Google and Amazon do. They take their domain related technology, expertise and skills and then implement it to a different market.
43. Radical innovation: is the type of innovation which people actually think as innovation stereotypically. It is the rarest type of innovation. It involves innovating new technologies, business models or services which create new markets. The examples of radical innovations are invention of microwave, airplane etc.
44. Crazy quilt principle: (focus on co-creation and partnership instead of competition. It can bring new directions and funds for your project)
45. Potential option opportunity
46. Broad long range….. Goals
47. Focus strategy: is where an entrepreneur selects one or more narrow (niche) market
48. Appendix.. supporting documents
49. Need: States of felt deprivation
50. Approach discusses the tool: Approach discusses the tool, resources, mechanism, plan and strategy to fulfill the needs of the target customers.
51. line extension: “Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
52. Brand extension: “Companies extend a current brand name to new or modified products in a new category.”
53. Sole proprietorship: is a business owned and operated by a single person who enjoys the whole profit and bears all the loss. This form of business has unlimited liability which means in case of non-payment of debt, the proprietor’s business property as well as personal property will be taken to pay off the debt.
54. limited liability partnership ..LLP
55. Proforma: Proforma financial statements are similar to historical statements but they show projected figures rather than actual amounts.
56. Risk at 4th phase in Greiner Growth model: control crisis
57. Risk at 3rd phase: autonomy crisis
58. Cash cow: (high relative market share, low market growth)

SUBJECTIVES

Define Lemonade:

The entrepreneurial approach of turning unexpected challenges into opportunities. It embodies the principle of effectuation, urging entrepreneurs to be flexible, embrace uncertainties, and transform surprises into profitable ventures.

Differentiate the utility of internal & external users

Internal Users: Internal users, such as employees and management, utilize information for dayto-day operations, decision-making, and performance assessment within the organization. Internal data aids in strategic planning and operational efficiency.

External Users: External users, like investors and creditors, rely on financial reports for investment decisions. External information provides insights into a company's financial health, stability, and potential returns.

Define need and want and demand with examples:

Need is a state of felt deprivation. (Kotler and Armstrong) Anything that you feel is lacking in you is called need. For example: need for food or shelter.

Let’s see when this need is converted into want. According to Philip Kotler and Armstrong, want is “The form human needs take as they are shaped by culture and individual personality”. Your need becomes your want based on the culture, weather and belief system of the area you are living in. for example: needing nourishment (need) might transform into a preference for sushi or pizza (want) based on cultural influences and individual tastes.

Demand is “Human wants that are backed by buying power”. (Kotler and Armstrong)

What are the Ingredients of Appendix:

An appendix or annexure is another important and informal part of a business plan document. It includes supporting documents i.e. resumes/CVs of entrepreneurs, legal documents (registration, agreements, contracts etc.), pictorial information (location map, animated visuals, cite graphics etc.).