MGT602 Quiz 1-2 2024

Entrepreneurship MGT 602

Quiz 1 to 22 Lecture

The commitment of administrative domain to the resources is for: 1. Periodic intervals

Total amount needed

For certain tasks For long time

Professional support network includes following EXCEPT: 2. Personal affiliations Mentor Trade associations

Friends

Foundation companies are formed from: 3. Fashion Most popular business A winding up company

Research and development

Generally, male entrepreneurs start their first venture in the age of: 4. Late 20s

Early 30s

Late 30s Early 40s

The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing: 5.

Managerial domain Administrative domain The startups which rarely go public are called: 6.

Foundation Company

Small company

The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of: 7.

Barter system

Balance of payment International trade

Which one of the following is NOT a condition of a contract?

8. An offer is made An acceptance of offer

Contract must be illegal

Consideration is given

Which of the following firm achieves modest growth: 9. High potential growth firm

Developing a new idea through inquiry and testing is called: 10.

Forced relationship

Entrepreneurial success has been significant because of the culture and the political and economic systems in

11. European countries

Asian countries

Middle East

Members of distribution channels are excellent sources for new ideas because: 12.

They are familiar with the needs of the

market They earn a handsome profit from new business They do not bother if entrepreneur bears a loss They have well-developed sales force

Which of the following is alternatively called corporate venturing?

13.

Act of stating a new venture Offering new products by an existing company

The importance of intellectual property should be understood by entrepreneur even before: 14. Hiring a manager

Engaging an attorney

Developing a product Establishing new venture

Which one of the Following is the way by which an entrepreneur can enter into international business?

15. Export Non equity arrangements Direct foreign investment

All of the given options

A typical inventor is usually 16.

Highly creative & in love with the invention

Does not encourage change Willing to modify the invention in order to augment commercial benefit

A contract must be signed by: 17. At least one party

Both the parties

Not necessary to sign By third party

A patent is granted for a specified amount of time because of the assumption: 18. That during this time firm will cover its development costs That firm will earn a sufficient profit during this period

To limit the monopoly of the firm

That it will stimulate idea and development of a better product