MGT602 Midterm Past Papers 2010 by Hafiz Salman

MIDTERM EXAMINATION

Fall 2010

MGT602- Entrepreneurship (Session - 3) Attempt and Solved By Hafiz Salman Majeed

Q1. ( Marks: 1 )

Individuals who help the entrepreneur in business activities are called:

1. Role models
2. Moral support networks
3. Professional support networks
4. Business support networks

Correct answer: Professional support networks

Ref: Professional-support network

Individuals who help the entrepreneur in business activities (Handouts Page No. 25)

Q2. (Marks: 1)

Which one of the following is not the intrapreneurial leadership characteristic?

1. Understands environment
2. Encourage the team work
3. Not flexible
4. Persistent

Correct answer: Not flexible

Q3. (Marks: 1)

Which of the following businesses women entrepreneurs prefer to start?

1. Manufacturing
2. Construction
3. Educational services
4. High-technology fields

Correct answer: Educational services

Q4. ( Marks: 1 )

Which of the following is NOT included in the opportunity evaluation process?

1. Length of the opportunity
2. Real and perceived value of opportunity
3. Goals and objectives of customers
4. Risks and rewards of opportunity

Correct answer: Goals and objectives of customers

Q5. ( Marks: 1 )

Which of the following is NOT a guiding principle in a traditional corporate culture?

1. Follow given instructions
2. Take responsibility and ownership
3. Do not take initiative
4. Do not make mistakes

Correct answer: Take responsibility and ownership

Q6. ( Marks: 1 )

Which of the following best defines “horizontal merger”?

1. It refers to combining at least two firms doing similar businesses at the same market level
2. It refers to forming a third company by combining two companies
3. It refers to having more than 50 percent ownership position
4. It refers to combining at least two firms at different market levels

Correct answer: It refers to combining at least two firms doing similar businesses at the same market level

Q7. ( Marks: 1 )

Identify the statement which best defines “checklist method”

1. It refers to developing a new idea through a list of related issues
2. It refers to a group method for obtaining new ideas focusing on the negative
3. It refers to a method for individuals to solve problems through one of four
4. It refers to a method for developing new ideas when the individuals are unaware of the problem

Correct answer: It refers to developing a new idea through a list of related issues

Q8. (Marks: 1)

Which one of the following can be registered under design patent?

1. New product
2. Original product
3. Ornamental
4. All of the given options

Correct answer: All of the given options

Q9. (Marks: 1)

Which of the following is a second step in the entrepreneurial process?

1. Developing successful business ideas
2. Deciding to become an entrepreneur
3. Growing the entrepreneurial firm
4. Moving from an idea to an entrepreneurial firm

Correct answer: Developing successful business ideas

Q10. (Marks: 1)

Which one of the following is true regarding female entrepreneurs?

1. currently the number of companies owned by female entrepreneurs exceeds those owned by their male counterparts
2. Women-owned businesses grow thrice that national rate for all private companies
3. 53 percent of all private companies are women-owned businesses
4. One-third of women-owned businesses are connected with health care and social services

Correct answer: One-third of women-owned businesses are connected with health care and social services

Q12. (Marks: 1)

Identify the type of innovation which refers to new products with significant technological advancement.

1. Ordinary innovation
2. Technological innovation
3. Breakthrough innovation
4. Technical innovation

Correct answer: Technological innovation

Ref: Technological innovations refer to new products with significant technological advancements. (Handouts Page No. 08)

Q13. (Marks: 1)

“Management of enterprise” is an important aspect of entrepreneurial process. Which involves all of the following EXCEPT:

1. Implementation of management style
2. Determination of key variables for success
3. Implementation of control system
4. Creation of opportunity

Q14. (Marks: 1)

Which of the following is NOT a goal of an intrapreneurial culture?

1. To take responsibility and ownership
2. To be rewarded for actions taken
3. To develop visions, goals, and action plans
4. To follow given instructions

Correct answer: To follow given instructions

Q15. (Marks: 1)

Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

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

Correct answer: Product Development Stage

Q16. (Marks: 1)

Which one of the following may need the business plan?

1. Employees
2. Investors
3. Advisors
4. All of the given options

Correct answer: All of the given options

Q17. (Marks: 1)

Which of the following refers to new products with some technological change?

1. Ordinary innovation
2. Technological innovation
3. Breakthrough innovation

Correct answer: Breakthrough innovation