ASSIGNMENT -4 Mr.

Vikash Barnwal
E.D.P Asst. Professor
1. If an entrepreneur has an internal locus of control, this means that he/she:

a) has a high need for achievement

b) believes that success or failure depends on his/her own actions.
c) feels comfortable in an unstructured situation
d) believes fate is a powerful force

2. The process of gathering information about trends is called:

a) Need for achievement.

b) Tenacity.
c) Trend
d) neuroticism

3. The opposite of "opportunity thinking" is:

a) Obstacle thinking
b) Thought self-leadership.
c) Self- efficacy.
d) Adaptive response behavior.

4. The startups which rarely go public are called:

a) Life style
b) Foundation Company
c) Small company
d) High potential venture

5. Which of the following factor can create the managerial difficulties in the joint ventures between
foreign companies?

a) Cultural differences
b) Economic policies
c) Public ignorance
d) Government taxes

6. process of creating incremental wealth is called Entrepreneurship.

a) Static
b) Continuous
c) Systematic
d) Dynamic
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

7. Barriers to new product creation and development are known as:

a) Trial and error

b) error
c) Opportunity cost
d) Opportunity parameters

8. Which of the following factor can create the managerial difficulties in the joint ventures between
foreign companies?

a) Cultural differences
b) Economic policies
c) Public ignorance
d) Government taxes

9. process of creating incremental wealth is called Entrepreneurship.

a) Static
b) Continuous
c) Systematic
d) Dynamic

10. Barriers to new product creation and development are known as:

a. Trial and error

b. Opportunity cost
c. Opportunity parameters
d. Intrapreneurship culture

11. Which of the following factor can create the managerial difficulties in the joint ventures
between foreign companies?

a) Cultural differences
b) Economic policies
c) Public ignorance
d) Government taxes

12. Process of creating incremental wealth is called Entrepreneurship.

a. Static
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
b. Continuous
c. Systematic
d. Dynamic
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
e. Intrapreneurship culture

13. To the , physical location does not matter because the Internet allows anyone to
link to any Web site no matter where in the world that site might be.

a) bricks-and-clicks retailer
b) e-tailer
c) bricks-and-mortar retailer
d) B-to-G business

14. Information regarding all of the following is related to operations, EXCEPT:

a) Promotion
b) Location
c) Raw materials
d) Labor skills

15. Which of the following cannot be used as basis of loan?

a) Worth of the business

b) Fixed asset
c) Perishable asset
d) All of the given options

16. Which of the following is the key factor for choosing the type of financing?

a) Availability of funds
b) Assets of the venture
c) Prevailing interest rates
d) All of the given options

17. Entrepreneur actually starts setting up of an enterprise by

a) Planning
b) Organizing
c) Staffing
d) Directing

18. Which of the following is least likely to influence the timing of new business births?

a) Government policies
b) Profitability
c) Interest rates
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
d) Consumer expenditure

19. Which of the following is usually not a barrier to market entry for a small firm?

a) economy of scale
b) Good ideas
c) switching costs
d) access to distribution

20. Which of the following statements is false? Electronic commerce:

a) can allow new ventures to compete on more or less equal terms with large firms
b) offers a relatively inexpensive means of advertising and conducting market and competitor
research
c) can lead to small businesses having reduced contact with its customers
d) is rarely used in small businesses

21. Generally speaking the risk involved in launching as a franchise is greater than that as a start
up.

a) True
b) False

22. Venture capital firms are usually organized as

a) closed-end mutual funds

b) Limited partnerships
c) corporations
d) nonprofit businesses

23. The entrepreneur who is committed to the entrepreneurial effort because it makes good
business sense is classed as a/an

a) inventor
b) Opportunist
c) hacker
d) craftsman

24. Being interested in computers, Jim Johnson came up with an idea of personalizing the screen
saver programs with family pictures. After trying a couple of programs, Jim started marketing
this service to neighbors and area businesses. Jim’s activities can be described as a(n)

a) Entrepreneurship.
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
b) intrapreneurship.
c) useless idea.
d) large business.

25. Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking
to the to start new businesses.

a) Small Business Administration

b) Internet
c) bookstore
d) mall

26. Which of these refers to the belief by individuals that their future is within their control and
that external forces will have little influence?

a) Awareness of passing time

b) Tolerance for ambiguity
c) Internal locus of control
d) External locus of control

27. Means that people are motivated to excel and pick situations in which success is likely.

a) External locus of control

b) Tolerance for Ambiguity
c) Awareness of passing time
d) Need to achieve

28. Marleesha likes to set her own goals, which have an intermediate level of difficulty. Which of
the entrepreneurial characteristics does she probably possess?

a) A high need for achievement

b) A high need for power
c) An external locus of control
d) An inability to deal with uncertainty

29. The most cited source of new business ideas is

a) brainstorming.
b) in-depth understanding of industry/profession.
c) a hobby.
d) copying someone else.
e) none of the above.
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
30. Before opening his own business, Tanay was writing a report that details the specifics of his
ideas and future business operations. This document is known as

a) A SWOT analysis.
b) A business portfolio.
c) A business plan.
d) A competitive analysis.

31. Refers to an unincorporated business owned by an individual for profit.

a) Partnership
b) Proprietorship
c) Corporation
d) Association
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

32. The final step in the start-up process is often the

a) development of partnerships.

a. launching the company.

b. obtaining venture capital.

c. securing government funding.

d. IPO.
33. Felix is an entrepreneur. At this stage of his company , his main concerns are do we have
enough customers and money. What stage of growth is Felix’s company in?

a. Start-up

b. Survival

c. Takeoff

d. Resource maturity

e. Success
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

34. Entrepreneurs take the risk of starting a business for all of the following reasons except:

a) they want independence.

b) they like the challenge and the risk.
c) they want to make money for themselves.
d) they want to work less.
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

35. Steve Jacobi is an entrepreneur to the max. Steve has started three businesses, two of which he
sold for a great deal of money. He is now involved in running his third business, with plans to
sell it shortly and start yet another one. When commenting on his success as an entrepreneur,
he says that once an idea comes to him, he just can’t wait to start working on it and bring it to
reality, and that is what he focuses on. Which of the traits of successful entrepreneurs does this
suggest is characteristic of Steve?

a) Action-oriented
b) Self nurturing
c) Self-directed
d) Tolerant of uncertainty

36. An entrepreneurial team is:

a) a group of people who work within a corporation to launch new products.

b) a group of experienced people who join together to develop and market a new
product.
c) a group from the Small Business Administration which consults with small
business owners.
d) a group of managers who get together to find creative solutions to problems.

37. Robert Vadera is a business owner who works from home as a freelance video producer. He
really enjoys his work, but isn’t looking to “set the world on fire” with his company. He just
wants to make a good living and spend time with his family when he can. Vadera would be
classified as a(n)

a) Entrepreneur.
b) Intrapreneur.
c) micropreneur.
d) Venture capitalist.

38. An incubator is:

a) A government agency that advises and assists small businesses.

b) A program through which private investment companies licensed by the S.B.A. lend
money to small businesses.
c) A center that offers new businesses low-cost offices with basic business services.
d) A specific geographic area to which governments try to attract private businesses by a
variety of means.

39. An incubator is:

a) A government agency that advises and assists small businesses.

b) A program through which private investment companies licensed by the S.B.A. lend
money to small businesses.
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor
c) A center that offers new businesses low-cost offices with basic business services.
d) A specific geographic area to which governments try to attract private businesses by a
variety of means.
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

40. Indrayani Jungle wants to start a small business importing some products from her native
Kenya. Before she starts, some good advice to Indrayani would be:

a) Talk to others who have been or are in the import business.

b) Get a loan right away.
c) Find a business to buy as soon as possible.
d) Incorporate immediately.

41. A business plan for a new business does not need to include:

a) A marketing plan.
b) A discussion of the purpose of the business.
c) A description of the company background.
d) The name of the lending bank.

42. The primary concerns when first starting your business are:

a) Marketing and accounting.

b) Planning and human resources.
c) Financing and planning.
d) Financing and marketing.

43. What are the primary sources of funding for entrepreneurs?

a) Personal savings and individual investors

b) finance companies and banks
c) the Small Business Administration and banks
d) former employers and the Economic Development Authority

44. Kylie is employed by Street Wheels, a large corporation that produces accessories for scooters,
bicycles, and other children's vehicles. She is a creative force within the company and has
helped launch several new successful products. Kylie is a/an
.

a. Intrapreneur.
b. Partner
c. Entrepreneur
d. Owner
ASSIGNMENT -4 Mr. Vikash Barnwal
E.D.P Asst. Professor

45. Babba, a licensed real estate broker, received notification that his application for a business
loan was denied. The bank refused his request because he failed to provide a blueprint
identifying the intended target market and competitive strategy. In order secure a bank loan
Babba evidently needs a:

a) Bankruptcy lawyer.
b) Business plan.
c) Venture capitalist.
d) Loan advocate.

46. As a Ronnie searches for firms in need of additional funding to achieve their goals.
In return for his investment, Ronnie becomes a part owner in the business. Ronnie operates as
a(n):

a) Investment analyst.
b) Venture capitalist.
c) Corporate raider.
d) Securities trader.

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

a) Entrepreneurship
b) Intrapreneurship
c) Managerial domain
d) Administrative domain

48. Which one of the following is a barrier to new product creation and development?

a) Trial and error

b) Opportunity parameter
c) Opportunity cost
d) Intrapreneurship culture

49. Factors contribute to the creation of new venture EXCEPT:

a) Government
b) Finance
c) High interest rates
d) Role models