Details of MGT602 Entrepreneurship Soved MCQ from Books C Virtual University MCQs BANK MCQs Collection
MGT602
Entrepreneurship
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Books C
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Virtual University MCQs BANK Virtual University MCQs BANK -- MCQs Collection MCQs Collection from Online Quizzesfrom Online Quizzes MGT602 Solved MCQ from Books C View Comments MGT602 Entrepreneurship 1 The venture's form of ownership should be included and described in the production plan section of the business plan. A)True B)False http://www.vuzs.info/ 2 Investors consider the section on description of the venture as important because they can determine the amount of investment needed without having to read through the entire plan. A)True B)False 3 Most entrepreneurs have difficulty with gathering operations information and do not often know where to begin. A)True B)False 4 Potential investors are not very insistent on specifications that need to be included in the business plan. A)True B)False 5 The business plan is an integration of functional plans such as marketing, finance, manufacturing, and human resources. A)True B)False 6 Typically business plan projections are made on a ____________. A)bi-monthly schedule B)quarterly schedule C)six-month schedule D)12-month schedule http://www.vuzs.info/ 7 The names, addresses, and resumes of the directors and officers of the corporation forms part of the _______________ plan. A)operations B)organizational C)production D)marketing 8 A production plan usually includes: A)pricing. B)evaluation of the weaknesses of the business. C)names of suppliers of raw materials. D)flow of orders for goods and/or services. 9 Raw materials, labor skills, space and location form a part of __________ information needs. A)marketing B)financial C)operations
D)planning 10 Which of the following is not among the three perspectives that should be considered in preparing a business plan? A)marketing perspective B)perspective of the entrepreneur C)investor perspective D)technical perspective 1 If the entrepreneur closely monitors the progress of the existing plan, he or she need not be concerned about contingencies. A)True B)False http://www.vuzs.info/ 2 If the market for a new venture is highly concentrated, it is advisable to consider direct sales. A)True B)False 3 During situation analysis, the entrepreneur should provide a review of past performance of the product and the company. A)True B)False 4 While a marketing plan may enable the entrepreneur to understand and recognize the critical issues, it may not help in the event of any change in the environment. A)True B)False 5 Gathering information from primary sources is the first step in market research. A)True B)False 6 Monitoring ___________ during the implementation of the marketing plan allows the entrepreneur to establish controls on the process. A)sales data B)research data C)consumer data D)technical data 7 Advertising and promotion for the business-to-business market involve all of the following EXCEPT: A)indirect sales B)trade magazine advertising. C)direct sales. D)trade shows. 8http://www.vuzs.info/ What is a target market? A)A group of customers a venture reaches by accident. B)All consumers who purchase the venture's product. C)A specific group of potential customers toward which a venture aims its marketing plan. D)A chain of discount stores. 9 Which of the following is NOT a characteristic of a marketing plan? A)It should provide a strategy. B)It should be based on facts and valid assumptions. C)It should be flexible. D)It should be long and detailed. 10 Which of the following is NOT an example of collecting primary data? A)Observation B)Using the Internet C)Interviewing
D)Focus groups 1 The leaders of the organization need not always consider themselves role models for their employees. A)True B)False 2 In an S corporation capital gains or losses from the corporation are treated as personal income or losses. A)True B)False 3 The most attractive type of business formation for raising capital is partnership.vuzs A)True B)False 4 A sole proprietorship is dissolved in the event of the owner's death. A)True B)False 5 The proprietor is not personally liable for any aspects of the business. A)True B)False 6 The board of advisors: A)is subject to regulations stipulated in the Sarbanes-Oxley Act. B)has no legal status. C)is not advisable in a family-owned business. D)is likely to meet more frequently. 7 In a(n) ______________________, only one class of stock is permitted. A)sole proprietorship B)C corporation C)S corporation D)partnership 8 ________________ distribute profits to owners through dividends. A)Sole proprietorship B)General partnerships C)Limited partnerships D)Corporations 9 In a ______________, bonds can be used to raise capital. A)corporation B)limited partnership C)general partnership D)sole proprietorship http://www.vuzs.info/ 10 The least expensive form of ownership to start is a: A)corporation. B)limited liability company. C)partnership. D)sole proprietorship.
MGT602 SOLVED MCQs (A) solved by vuZs team Join this Group Main Study Portal http://groups.google.com/group/vuZs
1-Writing business plan can ensure that a) You achieve your expense projections. b) You figure out how to make your business work. c) You meet your target revenue goals. d) You make a profit. 2-Your ________ is a concise communication of your strategy including your business definition and your competitive advantage a) Target market analysis b) Mission statement c) Values statement d) Business plan 3-High-potential ventures are a) Ventures that have high growth potential and therefore receive great investor's interest b) Very low growth venture c) Small ventures that support the owners and usually do not grow d) None of the mentioned options 4-Inner control (discipline), risk taking, innovativeness, change oriented personality are a) Business management skills b) Technical skills c) Personal entrepreneurial skills d) None of the mentioned options 5-Proactiveness includes a) Initiative taking b) Risk taking c) Competitive aggressiveness d) All of the mentioned options 6-Some of the world's greatest entrepreneurs have overcome challenges from their childhood and youth, including: a) Learning disabilities b) Extreme poverty c) Abuse d) All of the mentioned options 7-Entrepreneurs view change as a) An opportunity b) An inevitable situation c) A problem d) None of the above options 8-Profit is a sign that an entrepreneur has added value to the “scarce” ________ that he or she is using. a) Resources b) Employees c) Goods d) Ideas 9-Breakthrough innovations are a) A new product with just physical change
b) A new product with some technological change c) Same product with some technological change d) None of the mentioned options 1-Combination of at least two firms doing similar businesses at the same level is: Horizontal Merger Vertical Merger Product Extension Merger Diversified Activity Merger 2-A ______________ is an entity formed between two or more parties to undertake economic activity together. Indirect Exporting Joint Venture Licensing Entrepreneurship 3-Combination of at least two firms at different market levels is: Horizontal Merger Vertical Merger Product Extension Merger Diversified Activity Merger -____________ is a method of developing new ideas when the individuals are unaware of the problem. Checklist Method Free Association Method Gordon Method Scientific Method 5-A spirit of entrepreneurs must be: Ethically influenced Managerial Voluntary None of the given option 6-Most of the innovations are: Iterative Synthesis Ordinary Innovation Technological innovations Breakthrough innovations 7-The _________________ refers to the ways managers make decisions. Administrative domain Entrepreneurial domain Intrapreneurial domain All of the given options 8-Without _______________ , the organization will never be able to make the necessary Changes. Lower Management Top Management Middle Management None of the given options 9-The companies use the technology to make itself: Faster and Flexible
Faster and Stiff Inflexible and rigid All of the given options 10-The___________________ is the term used to describe the complete process of bringing a new product or service to market. Idea Stage Concept Stage Product Development Test Marketing Stage Ref: http://en.wikipedia.org/wiki/New_product_development In business and engineering, new product development (NPD) is the term used to describe the complete process of bringing a new product or service to market. ... Which of the following areas are preferred by women entrepreneurs? ► Administration ► Utilities ► Manufacturing ► None of the above Degree of influence and control on other people is called: ► Locus of control ► Locomotion of control ► Locust of control ► Loss of control Individuals influencing an entrepreneur’s career choice and style are known as which of the following? ► Role model ► Moral-support network ► Professional support network ► Support system The activity which occurs when the new venture is started is called: ► Motivation ► Business skills ► Departure point ► Goal orientation What is the process by which individuals pursue opportunities without regard to resources they currently control? ► Startup management ► Entrepreneurship ► Financial analysis ► Feasibility planning Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete? ► New business model ► Anatomization ► Creative destruction ► None of the given options Which of the following shows the process of creating something new? ► Business model ► Modeling
► Innovation ► Creative flexibility Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity? ► Entrepreneurship ► Hyper competition ► Governmental laws ► Organizational culture There is an evidence that an entrepreneur usually has _______________ parents. Self employed Discouraged Non supportive Strict Following are the problems in developing the economies EXCEPT: Gap of knowledge Variable rate of return Same communication style Different accounting system Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process? Idea Stage Product Planning Stage Product Development Stage Test Marketing Stage Product planning and development process Generally divided into five major stages: idea stage, concept stage, product development stage, test marketing stage, test marketing stage, and commercialization stage Which of the following is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis? Scientific method Heuristics Attribute listing Value analysis Scientific method This is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis. Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment? Merger Joint venture Minority interest Majority interest Which of the following plan shows the economically feasibility of business? Business Financial Economic Marketing
What are the number of questions a marketing plan usually answers? 5 2 3 4 1=What business are you in? 2=What are the priorities for the growth of your business? 3=What are the barriers to growth? 4=What business marketing strategy, structure and actions will accelerate the growth of your company? 5=What steps can you take immediately to improve the effectiveness of your business marketing? Which of the following allows the entrepreneur to establish controls on the process during the implementation of the marketing plan? Sales data Research data Consumer data Technical data Which of the following shows the characteristic of the venture that has experience in related business? Strength Weakness Opportunity Threat Advertising and promotion for the business-to-business market involve all of the following EXCEPT: Indirect sales Trade magazine advertising Direct sales Trade shows Which of the following shows the characteristic of the venture that has experience in related business? Strength Weakness Opportunity Threat In which of the following, banks are usually reluctant to give loan? Sole Proprietor Public Limited Companies Partnership firm Private Limited Companies In which of the following majority holds the management control? Partnership Corporation
Limited liability company All of the given options Which of the following represents the environment in which entrepreneurship can’t grow? Boom Vacuum Maturity Introductory Phase Its correct answer is "vacuum" because rest three are not environment rather these are different stages of business. As the main feature of entrepreneurship is "independence”. So in vacuum environment an entrepreneur cannot grow. "What the entrepreneur hopes to accomplish" includes in which section of business plan? Vision statement Mission Statement Goal Statement All of the above The description of the venture should be detailed in this section. This should begin with the mission statement or company mission, which describes the nature of the business and what the entrepreneur hopes to accomplish. Which of the following shows the standard acceptable term of a Limited Liability Company? Three Ten Twenty Thirty Page no 73 6. The standard acceptable term of an LLC is 30 years. Which one of the following provides a guideline in determining hiring procedures? Job description Job specification Job analysis Job evaluation Before writing the organization plan, it is helpful to [Show Less]