MGT602 Midterm Subjective and Objective Guess Paper 2023 by Sulman Ali

MGT602 SUBJECTIVES · MID TERM- 100% · GUESS PAPER 2023 · BY SULMAN ALI GUJJAR · OBJECTIVES

Second option is of “advertisements”. Franchise opportunities are often advertised in newspapers. Alternate words such as dealership, distributors etc. are also advertised Secondly, “empathy” is also important. One should understand the others Student Startup Business Centre (SSBC) w “Entrepreneur” means “to take between” An entrepreneur’s traits of knowledge and inspiration help him in idea generation. Green trend (sustainable fashion, recycling, zero-waste practices, eating a plantbased diet, and reducing the use of plastics) The economic indicators which an entrepreneur must have information about are: GDP annual growth rate, GDP per capita, GDP per capita PPP, unemployment rate, inflation rate, consumer price index CPI, food inflation, foreign exchange reserves, balance of trade, corporate tax rate, personal income tax rate, and sales tax rate. A business incubation center is a place that helps startup companies to develop, grow and mature as an established business by providing finance, Factor drive economy unskilled labor... A factordriven economy has a subsistence agriculture background with an extraction business with heavy reliance on unskilled labor and natural resources Innovation drive economy.. America and Japan are examples of innovation-driven economies Akhuwat Foundation is also an example of social entrepreneurship Goal setting

“goal setting” is an important characteristic and a key skill

Franchising two party system Piggyback franchising ka tha. Area of sale territory ka tha 1 mn building ana tha etc.. Piggy back franchising def “Piggyback Franchising”. In this type, neither franchisee uses the name of franchiser nor does he deal in franchiser’s products or business format. Boston ... Revolution type BCG matrix was developed by the Boston Consulting Group. It is also called as Growth-Share Matrix Entrepreneurship myopia Entrepreneurship myopia is a concept which states that, sometimes new entrepreneurs read stories of successful entrepreneurs and overlook the struggle of them which frustrates these new or potential entrepreneurs if they don’t reach the similar point of success. Which generation is social media lover ------------------- Millennial Scenario based thy Ismaic republic Pakistan is an example of ......

Factor driven

Efficiency driven Resource economy making problem solving ability refers to which nature

Answer: enterprising nature values embedded in family business Mutual respect ..repeat tha yee ik sceneria tha ..part time entrepreneurship Andrew Carnegie is an example of entrepreneur of which century: *19th and 20th

century*

.A utility patent has a term of: *20 years* Which of the following is a method of selling goods to another country by taking care of transactions? *Direct exporting* BICs stand for *Business Incubation Centers* Having more than 50% ownership position that provides the entrepreneur with managerial control is called: *Majority interest* how many pillars of entrepreneurial ecosystem *14* Founder of KFC *Colonel Harland Sanders* .........means the statistical structure of populations *Demography* Who described entrepreneurship as a discipline? *Joseph Schumpeter* BIC Stand for ------------Business Incubation Centers

(vegetables with no fertilizers and pesticides used, Most common myth about entrepreneur is :

( Entrepreneurs are born and they cannot be made)

Neither franchisee uses the name of franchiser nor does he deal in franchiser’s products or business format

(piggyback franchising)

Akhuwat Foundation is an example of

(social entrepreneurship )

A family eating organic products, home grown vegetables

Ability to understand something instinctively, without the need for conscious reasoning

(Intuition)

Schumpeter described entrepreneurship a process of .........creative destruction. Commitments of family business except......morality - base commitment. Ahmad starts his business without foresight and lose a lot. He lacks which entrepreneurial characteristic..... execution intelligence. Steam engine triggered Craft production era to .....mass production era. To understand someone feelings and convey to other is called.........empathy. Social entrepreneurs.... “individuals who recognize a social problem and use novel ideas to solve it. regional economic integrations i.e. SAARC, In Pakistan, Akhuwat Foundation is also an example of social entrepreneurship like Grameen bank.

SUBJECTIVES

Pitfalls of entrepreneurial

Why pure entrepreneurial root has highest risk logical reasoning. The "pure entrepreneurship route" involves starting a business from scratch, making it the riskiest option among entering business routes. Unlike franchising, buying an existing business, or joining a family business, it lacks established systems, increasing the likelihood of failure due to uncertainty and resource challenges.

Five issues in family business (5)

Five issues in family businesses include 1= Conflicts among family members impacting the entire business, 2= Challenges for female members in male-dominated scenarios, 3= Role conflicts between parents and children, 4= Difficulty in maintaining financial accountability, and 5= Succession delays due to fear, reluctance, and potential rivalry among senior family members, leading to blurred boundaries and potential business mismanagement.

Business incubation center how it works give examples:

A business incubation center is a place that helps startup companies to develop, grow and mature as an established business by providing finance, office space, and mentoring services. A business incubation center is considered a Launchpad for startups. Examples include the Student Startup Business Centre (SSBC) by Virtual University of Pakistan and international platforms like The Indus Entrepreneur (TIE) and Global Entrepreneurship Monitor (GEM).

Brainstorming vs brain writing:

Brainstorming is a group technique where participants discuss and generate ideas, emphasizing quantity and creativity. Rules include no criticism, welcoming wild ideas, and encouraging diverse thinking. In contrast, brain writing involves participants writing down ideas individually, allowing for critique and refinement before sharing, fostering a more structured ideation process.

Innovation driven economy how it works give international examples:

An innovation-driven economy emphasizes knowledge-intensive businesses and an expanding services sector. Examples include the United States and Japan, where innovation fuels economic growth. Entrepreneurship plays a pivotal role, acting as an innovation hub, creating jobs, boosting national income, and driving social change. This model, championed by Michael Porter, recognizes entrepreneurs as crucial partners in regional and national economic development, addressing challenges and fostering integration and social value creation. 1--types of cost. There are four types of costs that an entrepreneur will have to bear in franchising business difference between Royalty and initial franchise fee.

1. Initial franchise fee
2. Cash investment
3. Royalty payment