IMPORTANT QUESTIONS FOR MID-I

1. Define Entrepreneurship? Explain Entrepreneurial Traits.

2. Explain the 7-Sources of start-up financing?

3. Explain the role and objectives of Directorate of Industries?

4. Explain the steps in Creating and Starting the Venture?

5. What are the sources of Financing and Managing the New Venture?

6. What is IDC? Explain the major objectives of IDC.

7. Explain the sources of new ideas, method of Generating ideas.

8. What is Record-Keeping, Explain its advantages

9. State the functions of State Finance Corporation

10. Classify creative problem solving & writing a business plan?

11. Explain about Recruitment and its types of Recruiting?

12. Explain the role and importance of Small Scale Industries in India?

13. Who is an Entrepreneur? Explain the difference between Entrepreneurs and Managers.

14. Explain about Motivating & Leading Team? & Importance of Financial Controls?

15. What do you mean by SIDCO, Explain the objectives of SIDCO?

16. Explain the sources of new ideas & method of generating ideas?

17. Evaluate the strategies & Techniques used by companies in sales and marketing control?

18. What are the major functions of Directorate of Industries?

19. Examine the steps in Evaluating business plans.

20. Explain about E-Commerce and Entrepreneurship

21. State the problems of State Financial Corporation

22. Describe launching formalities of an Enterprise.

23. What is Internet-Advertising? Explain the types of Online Advertising.

24. Explain the need for Small Industrial Development Corporation.

BIT BANK:

1. Which of these is not a type of entrepreneurship?

a. Small business entrepreneurship
b. Scalable entrepreneurship
c. Large scale entrepreneurship
d. Intrapreneurship

Answer: d

2. Which of these actions of an entrepreneur will most likely result in creative destruction?
a. Developing a new product
b. Taking over a competitor’s business
c. Issuing shares to individuals and institutions
d. Lowering prices of your product or service

Answer: a

3. According to Schumpeter, innovative entrepreneurs would:

a. Thrive in the market
b. Not survive and disappear from the market.
c. Get absorbed within larger innovative businesses
d. Get absorbed within non-innovative businesses

Answer: c

4. Which of these is not a challenge for the entrepreneur?

a. Managing the cash flow of their business
b. Recruiting new employees
c. Choosing the product or service to sell in the market
d. Formulating rules and regulations relating to conducting entrepreneurship in their
country

Answer: d

5. Which of these theories involve taking a moderate amount of risk as a function of skill and
not chance?
a. Need for achievement
b. Need for affiliation
c. Need for authority
d. Need for independence

Answer: b

6. Which of these is not a category of external forces that affects a business?

a. Competitive forces
b. Technological forces.
c. Economic forces
d. Socio-economic forces

Answer: b
7. Which among these is a money manager who is involved in making risk investments from
equity capital with the objective of gaining better returns?
a. Entrepreneur
b. Businessperson
c. Buyer
d. Venture capitalist

Answer: d

8. Which of these is the first activity of a new business?

a. Departure point
b. Goal Orientation
c. Business skill development
d. None of the above

Answer: a

9. Who should be involved in preparing a firm’s business plan?

a. Accountant
b. Engineer
c. Entrepreneur
d. None of the above

Answer: c

10. What should be the main worry of a company’s founder who asks for capital in exchange for
equity shares in their venture?
a. Valuation
b. Control
c. Capitalisation
d. Legal formalities

Answer: c

11. The process of creating something new is called:

a. Creative flexibility
b. Management
c. Business
d. Innovation

Answer: d

12. Ownership position of less than 50 per cent in a business is known as:
a. Majority Interest
b. Joint Venture
c. Minority Interest
d. None of the above

Answer: c

13. Which of these is also known as corporate venturing?

 a. Intrapreneurship
b. Mergers
c. Entrepreneurship
d. Acquisition

Answer: a

14. If an entrepreneur takes decisions on behalf of their enterprise, it is known as ______:

a. Routine decisions
b. Strategic decisions
c. Organisational decisions
d. Personal decisions

Answer: c

15. Entrepreneurship Development Program is helpful for:

a. First-generation entrepreneurs
b. Future generation entrepreneurs
c. Existing Entrepreneurs
d. None of the above

Answer: a

16. These decisions are concerned with policy matters and they influence the goals and
objectives of a business venture:
a. Routine decisions
b. Strategic decisions
c. Organisational decisions
d. Personal decisions

Answer: b

17. Ownership position of more than 50 per cent in a business is known as:
a. Minority Interest
b. Joint Venture
c. Majority Interest
d. None of the above

Answer: c

18. What is the purpose of a feasibility study for starting a new venture?
a. Exploring for potential customers
b. Estimate sales
c. To understand if there are any barriers to success
d. None of the above

Answer: c

19. An entrepreneur who is the owner of more than one business is called:
a. Portfolio Entrepreneur
b. Intrapreneur
 c. Corporate Entrepreneur
d. None of the above

Answer: a
20)Which of the following is not followed in brainstorming?
A)Criticism is done by the group members
B)The wilder idea is batter
C)Quantity of ideas is required
D)The session should be fun. with no on dominating the discussion
Ans: A

21)The word Entrepreneur is originally taken from

A)Greek word
B)French word
C)Greece word
D)Spanish word
Ans: B

22) The word Entreprendre means

A)To undertake
B)To Sustain
C)To Create
D)To manage
Ans: A

23)When selecting a line of action an Entrepreneur must keep in mind

A)Profit
B)Risk involved
C)Profitability
D) All above
Ans : D

24)Which one is not the function of an entrepreneur

A)Turning ideas into action
B)Generating employment
C)Shutting down the existing business
D)Planning
Ans: C

25) According to _________________ innovation is the important characteristic of anentrepreneur
A)Peter Drucker
B)Schumpeter
C)Cantillion
D)J.B.Say
Ans: B
26)Point out the quality of an entrepreneur
A)Initiation
B)Lack of confidence
C)Lack of decision making
D)Self Appreciation
Ans: A

27)What is an entrepreneur?
A)Someone who do not want to earn profit.
B)Someone who makes a lot of money.
C)Someone who identify the needs of customer and makes innovations.
D)Someone who don’t take risk 
Ans: C
 
28)Define Free Enterprise:
A)A business taking a risk to make a profit.
B) A program administered by the Government.
C)People in business trying to make a profit.
D) A business adventure or undertaking.
Ans: A

29)This is basically the behaviour of the person which has some distinct characteristics
A)Entrepreneurial
B)Entrepreneurship
C)Enterprise
D)Entertainment
Ans: A

30) According to J.B.Say entrepreneur is
A)Innovator
B)Inventor
C)Mentor
D) An Economic agent
Ans: D

31)This kind of entrepreneurs are characterised by readiness to adopt successful innovations created by innovative
entrepreneurs.
A)Innovative Entrepreneurs
B)Imitative Entrepreneurs
C) Agripreneurs
D)Traders
Ans: B

32)Entrepreneurs of this type are very cautious and skeptical while practicing any change
A)Innovative Entrepreneurs
B)Imitative Entrepreneurs
C)Fabian Entrepreneurs
D)Drone Entrepreneurs
Ans: C

33)Which of the following is not a type of Entrepreneur

A)Modern Entrepreneur
B)Technical Entrepreneurs
C)Classical Entrepreneur
D)Intrapreneur
Ans: D

34)Enrepreneurship is _____________
A)Practice
B)Habit
C)Process
D) Action
Ans: C

35)Theory of High Achievement Motivation is given by

A)Schumpeter
B)Kilby
C)McCelland
D)Staley and Morse
Ans: C

36)Which of the following is not economic factors affecting entrepreneurial growth

A)Capital
B)Labour
C)Raw material
D)Custom
Ans: D

37)“Entrepreneurs are innovators who use a process of shattering the status quo of the existing
products and services, to set up new products, new services.” 
A)J.B.Say
B)Peter Drucker
C)Schumpeter
D) Albert Shapero
Ans. C

38)Entrepreneur plays following role:

A)Economic Growth and Prosperity
B)Balanced Regional Development
C)Innovator
D) All of the above
Ans. D

39)Following is the important Quality of Entrepreneur

A)Self Confidance
B)Over Confidence
C)To Dominate others
D)Criticism
Ans: A

40)Entrepreneurs are concerned about basic issues of:

A)Sales, costs and benefits
B)Customers, sales and costs
C)Risk, costs and benefits
D)None of the above
Ans: A

41)Which of the following is not the type of Entrepreneur as per Arthur H Cole
A)Empirical
B)Fabian
C)Rational
D)Cognitive
Ans. B

42)Entrepreneurship is defined as a Systematic innovation ,which consists in the purposeful and organized
search for changes ,and it is the systematic analysis of the opportunities such changes might offer economic and
social innovation
A)Peter Drucker
B)Heggins
C)Mc Clelland
D)Schumpeter
Ans. A

43)Which of the following is a recommended strategy for retailers when consumers select the outlet first and the
brand second?
A) Appropriate pricing
B)Brand availability advertising
C)Brand image management
D)price special on brands
Ans: A

44)Which of the following is a recommended strategy for manufacturers when consumers select the outlet first
and the brand second?
A)Retailer image advertising
B)More exclusive distribution
C)point-of-purchase displays
D)Price special on brands
Ans: C

45)Consumers acquiring product through mail, telephone, or computer orders is referred to as _____
A)Outsourcing
B)Outlet shopping
C)non-traditional shopping In-home shopping
D)all of the above
Ans: D

46)Which of the following is a category of products and services based on their purchase characteristics relative to
Internet shopping identified by Forrester Research?
A)“high-touch” goods
B)Search goods
C)Replenishment goods
D)Adventurous goods
Ans: C

47)Which of the following category of products and services identified by Forrester Research based on their
purchase characteristics relative to Internet shopping consists of moderate cost, high-frequency purchases?
A)Replenishment goods
B)Researched items
C)Convenience items
D)Shopping goods
Ans: A

48)Which of the following are the major reason consumers give for shopping online?
A)Want product delivered
B)Unique merchandise Price
C)Impulse
D)Convenience
Ans: D

49)Sales for which product or service classified,as “researched items” are the highest?
A)Food& beverage
B)Travel
C) Automotive parts
D)Computer hard/software
Ans: B

50)The major reason people give for not shopping on the Internet is _____.
A)Lackof “touch”
B)Security concerns
C)Too difficult
D)Unfamiliar merchants
Ans: B
51)MVM (My Virtual Model) helps consumers shopping online overcome which barrier?
A)Security
B)Information quantity
C)Lack of touch
D)Flow
Ans: C

52)Which of the following is an online shopper segment?

A)Shopping Lovers
B) Adventurous Explorers
C)Suspicious Learners
D)all of the above
Ans: D

53)Which of the following is NOT an online shopper segment?

A)Technocrats
B) Adventurous Explorers
C)Suspicious Learners \Fun Seekers
D) All of the above are online shopper segments
Ans: A

54)What was the MAIN reason consumers gave in a survey for why they don't like shopping in stores?
A)don't like shopping
B)Dealing with crowds
C)salespeople are poorly informed
D)Parking and traffic
Ans: C

55)Consumers who browse and/or purchase in more than one channel are known as _____.
A)cosmopolitan
B)Multi-channel shoppers
C)multi-taskers
D)Market mavens
Ans: B

56)The organization will never be able to make the necessary changes without
A)Top Management commitment
B)Employees
 C)Workers
 D)None of the mentioned
 Ans: A

57)Personal characteristics to be a successful entrepreneur includes U.,

A)Understanding environment
B)Creating management options
C)Encourage open discussion
D)All of the above.
Ans: D

58)The ways entrepreneurs make decisions.

A)Entrepreneurial domain
B)Reverse brain storming
 C)Heuristics
 D)Reverse brain storming
Ans: A

59)______is an individual who creates something for the first time, is a highly driven individual
motivated by his or her own work and personal ideas.
A)Entrepreneur
B)Inventor
C)Both a and b
D)None of the given options
Ans: B

60) _______Is the process in marketing of dividing a market into distinct subsets (segments) that behave in the
same way or have similar needs?
A)Target Market
B)Market Analysis
C)Market Segmentation
D) All of the Above
Ans: C

61) A business where an individual is both the owner and conductor of the business affairs is

called.
A)Sole Proprietorship
B)Partnership
C)Corporation
D)None of the above
Ans: A

62)In, the entrepreneur has the night to sell any assets.

A)Proprietorship
B)Partnership
C)Limited Liability Company
D)None of the given options
Ans: A

63) An entrepreneur`s primary motivation for starting a business is

A)To make money
B)To be Independent
C)To be famous
D)To be powerful
Ans: B

64)To be successful in an entrepreneurial venture, you need

A)Money
B)Luck
C)Hard work
D) A good idea
Ans: D

65)Entrepreneurs are best as

A)Managers
B)Venture capitalists
C)Planners
D)Doers
Ans: D

66) A successful entrepreneur relies on which of the following for critical management advice
A)Internal management team
B)External management Professionals
C)Financial sources
D)No one
Ans: B

67)Entrepreneurs are:
A)High-risk takers
B)Moderate risk takers
C)Small risk takers
D)Doesn‘t matter 
 
Ans: B
68)Entrepreneurs typically form
A)Service businesses
B)Manufacturing companies
C)Constructive companies
D) A Variety of Ventures
Ans: D

69)Entrepreneurs:
A) Are the life of the party
B) Are bores at a cocktail party
C)Will never go to parties
D) just fit into the crowd at a party
Ans: D

70)Entrepreneurs and ventures capitalists:

A)Get along well
B) Are the best friends
C) Are cordial friends
D) Are in conflict
Ans: D

71)Entrepreneurs are concerned about basic issues of:

A)Sales, costs and benefits
B)Customers, sales and costs
C)Risk, costs and benefits
D)None of the above
Ans: A