Q1. Individuals who help the entrepreneur in business activities are called:
- A.Role models
- B.Moral support networks
- C.Professional support networks✓ Correct
- D.Business support networks
Q2. Following are the problems in developing the economies EXCEPT:
- A.Gap of knowledge
- B.Variable rate of return
- C.Same communication style✓ Correct
- D.Different accounting system
Q3. Which one the following is the best protection against product liability?
- A.Avoid negligence
- B.Warn consumers of any potential hazards✓ Correct
- C.Give warranty
- D.Avoid misrepresentation
Q4. Which one of the following reviews the trends and competitive strategies?
- A.Environmental analysis
- B.Product forecast
- C.Contingency plan
- D.Industry analysis✓ Correct
Q5. A utility patent has a term of:
- A.10 years
- B.40 years
- C.20 years✓ Correct
- D.80 years
Q6. Which of the following body issues patents?
- A.GATT
- B.NAFTA
- C.FTA
- D.PTO✓ Correct
Q7. 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?
- A.Scientific method✓ Correct
- B.Heuristics
- C.Attribute listing
- D.Value analysis
Q8. Which one of the following gives suggestions for new product and also helps to market new products?
- A.Existing products and services
- B.Distribution channels✓ Correct
- C.Federal government
- D.Consumers
Q9. GATT is established in 1947, under:
- A.German leadership
- B.French leadership
- C.U.S. leadership✓ Correct
- D.U.K. leadership
Q10. Factors contribute to the creation of new venture EXCEPT:
- A.Government
- B.Finance
- C.High interest rates✓ Correct
- D.Role models
Q11. A foundation company is formed through which of the following?
- A.Fashion
- B.Most popular business
- C.A winding up company
- D.Research and development✓ Correct
Q12. Which one of the following is the primary cause of failure in small businesses?
- A.Poor financial control
- B.Poor location
- C.Management mistakes✓ Correct
- D.Improper inventory control
Q13. Which of the following is a fourth step in the entrepreneurial process?
- A.Developing successful business ideas
- B.Deciding to become an entrepreneur
- C.Growing the entrepreneurial firm✓ Correct
- D.Moving from an idea to an entrepreneurial firm
Q14. Which one of the following is NOT a phase of entrepreneurial process?
- A.Identification and evaluation of opportunity
- B.Development of business plan
- C.Deciding to become an entrepreneur✓ Correct
- D.Determination of required resources
Q15. Which one of the following is not the intrapreneurial leadership characteristic?
- A.Understands environment
- B.Encourage the team work
- C.Not flexible✓ Correct
- D.Persistent
Q16. Which of the following system is necessary for expansion or elimination of intrapreneurial units?
- A.Management
- B.Evaluation✓ Correct
- C.Reward
- D.Training
Q17. Which of the following factor does not affect a person for being an entrepreneur?
- A.Nationality✓ Correct
- B.Education
- C.Personal values
- D.Work history
Q18. Professional support network includes all of the following EXCEPT:
- A.Personal affiliations
- B.Mentor
- C.Trade associations
- D.Friends✓ Correct
Q19. Following are the types of foreign direct investment EXCEPT:
- A.Joint venture
- B.Management contracts✓ Correct
- C.Minority interest
- D.Merger
Q20. Following are the types of non-equity arrangements EXCEPT:
- A.Licensing
- B.Management contracts
- C.Direct export✓ Correct
- D.Turnkey projects
Q21. According to which of the following, an entrepreneur is the person who brings resources, labor, materials and other assets into combinations that increase their value?
- A.Economist✓ Correct
- B.Psychologist
- C.Businessman
- D.Sociologist
Q22. Which of the following abilities must be possessed by an entrepreneur?
- A.Creative
- B.Conceptualization
- C.Understanding environment
- D.All of the given options✓ Correct
Q23. Which of the following options can be very helpful to start-up new ventures?
- A.Seed Capital✓ Correct
- B.Infrastructure
- C.Technology
- D.Experience
Q24. According to Henning and Jardim, female executives tend to be the firstborn. Which of the following supports this research?
- A.Because firstborn has to be more responsible
- B.Because firstborn needs special care
- C.Because firstborn tends to be more flexible
- D.Because firstborn receives special attention✓ Correct
Q25. In terms of personality, there are strong similarities between men and women entrepreneurs. Which of the following does not refer to this statement?
- A.Both are energetic
- B.Both are goal oriented
- C.They want to be independent
- D.Males are more confident than women✓ Correct
Q26. Which of the following businesses women entrepreneurs prefer to start?
- A.Manufacturing
- B.Construction
- C.Educational services✓ Correct
- D.High-technology fields
Q27. “Paying for goods indirectly through another source” refers to:
- A.Barter
- B.Trading
- C.Third-party arrangement✓ Correct
- D.Balance of payment
Q28. Which of the following best defines “diversified activity merger”?
- A.It refers to combining two firms with noncompeting products
- B.It refers to forming a third company by combining two companies
- C.It refers to combining at least two totally unrelated firms✓ Correct
- D.It refers to combining at least two firms at different market levels
Q29. Which of the following statements best defines “brainstorming”?
- A.It refers to groups of individuals providing in a structured format
- B.It refers to a group method for obtaining new ideas and solutions✓ Correct
- C.It refers to a method for obtaining new ideas and solutions by focusing on problems
- D.It refers to a method for obtaining new ideas focusing on the parameters
Q30. Identify the statement which refers to “licensing”.
- A.It grants holder protection from others making, using or selling similar idea
- B.It may be a word, symbol, design or some combination that identifies the source of certain goods
- C.It protects original works of authorship
- D.It is a contractual agreement giving rights to others to use intellectual property in return for a royalty or fee✓ Correct
Q31. Which of the following denote no relationship between the mark and the goods or services?
- A.Coined marks✓ Correct
- B.Arbitrary marks
- C.Suggestive marks
- D.Descriptive marks
Q32. Which of the following trademarks is used to suggest certain features, qualities, ingredients or characteristics of a product or service?
- A.Coined mark
- B.Arbitrary mark
- C.Suggestive mark✓ Correct
- D.Descriptive mark
Q33. Data that support the opportunity for the venture should be briefly stated in the executive summary. If this venture is an internet business, all of the following facts should be stated by an entrepreneur EXCEPT:
- A.Growth in the number of internet users
- B.Growth in the average amount of time spent on the internet
- C.Growth in sales dollars generated on the internet
- D.Growth rate of population✓ Correct
Q34. Which of the following make the business plan difficult to control and implement?
- A.Too general goals and objectives✓ Correct
- B.Too specific goals and objectives
- C.Realistic goals and objectives
- D.None of the given options
Q35. Which one of the following gives suggestions for new product and also help to market new products?
- A.Existing products and services
- B.Federal government
- C.Consumers✓ Correct
- D.Distributors
Q36. Which one of the following is not the entrepreneurial leadership characteristic?
- A.Understands environment
- B.Encourage the team work
- C.Not flexible✓ Correct
- D.Persistent
Q37. The level at which an individual is viewed by society is called:
- A.Financial status
- B.Qualification
- C.Social status✓ Correct
- D.Achievement
Q38. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?
- A.Idea Stage
- B.Product Planning Stage
- C.Product Development Stage✓ Correct
- D.Test Marketing Stage
Q39. Which one of the following is NOT included in four C’s evaluation by lender?
- A.Character
- B.Cost✓ Correct
- C.Continuity
- D.Contribution
Q40. Which of the following is NOT essential part of the contract?
- A.All the parties involved should be named
- B.Transaction should be described in detail
- C.Obtain signatures of the persons involved
- D.Place where contract takes place✓ Correct
Q41. Which one of the following is the way by which an entrepreneur can enter into international business?
- A.Export
- B.Non equity arrangements
- C.Direct foreign investment
- D.All of the given options✓ Correct
Q42. The entrepreneur was distinguished from capital provider in:
- A.Middle ages
- B.18th century✓ Correct
- C.17th century
- D.19th and 20th century
Q43. Andrew Carnegie is an example of entrepreneur of which century:
- A.Earliest period
- B.19th and 20th century✓ Correct
- C.Middle ages
- D.17th century
Q44. Which of the following two work environments should be good for spawning the new enterprises?
- A.Finance and marketing
- B.Finance and R&D
- C.Marketing and R&D✓ Correct
- D.Marketing and IT
Q45. Most of the finance for the new firm comes from following resources EXCEPT:
- A.Friends
- B.Foreign aid✓ Correct
- C.Relatives
- D.Personal savings
Q46. What is the process by which individuals pursue opportunities without regard to resources they currently control?
- A.Startup management
- B.Entrepreneurship✓ Correct
- C.Financial analysis
- D.Feasibility planning
Q47. Which one of the following is a firm that achieves modest growth?
- A.High potential growth firm
- B.Foundation firm
- C.Life style✓ Correct
- D.Public company
Q48. Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity?
- A.Entrepreneurship
- B.Hyper competition✓ Correct
- C.Governmental laws
- D.Organizational culture
Q49. Which of the following typical culture has a climate and reward system that favors conservative decision making?
- A.Entrepreneurial
- B.Intrapreneurial
- C.Corporate✓ Correct
- D.None of the given options
Q50. What takes place during the product-evolution process?
- A.Innovation is developed and commercialized through entrepreneurial activity✓ Correct
- B.The product/service is evaluated and any scope of further development is charted
- C.The business branches into separate units of development and marketing
- D.The product/service is evaluated to identify its global marketability
Q51. All the following qualities are requisites for an entrepreneur Except:
- A.Driven by perception of opportunity
- B.Learning from business failure✓ Correct
- C.Cognitive adaptability
- D.Effectuation
Q52. Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:
- A.Motivation
- B.Business skills
- C.Departure point
- D.Goal orientation✓ Correct
Q53. Which one of the following may need the business plan?
- A.Employees
- B.Investors
- C.Advisors
- D.All of the given options✓ Correct
Q54. Which of the following refers to new products with some technological change?
- A.Ordinary innovation
- B.Technological innovation✓ Correct
- C.Breakthrough innovation
- D.Technical innovation
Q55. Which of the following is/are known as barriers to new product creation and development?
- A.Trial and error
- B.Opportunity parameters✓ Correct
- C.Opportunity cost
- D.Intrapreneurial culture
Q56. According to research, when do the female entrepreneurs tend to start their first significant venture?
- A.In their mid 20s
- B.In their mid 30s✓ Correct
- C.In their mid 40s
- D.In their mid 50s
Q57. Which of the following statements describes "International entrepreneurship"?
- A.It is the process of an entrepreneur conducting business activities across national boundaries✓ Correct
- B.It is the process of an entrepreneur conducting business activities within the national boundaries
- C.It is an innovative corporate management style that encourages employees within an organization to create new product ideas
- D.It is a business structure in which an individual and his company are considered a single entity for tax and liability purposes
Q58. Which of the following best describes the term "indirect exporting"?
- A.It refers to selling goods made in one country to another country
- B.It refers to buying and selling of commodities
- C.It refers to a commercial activity of buying and bringing in goods from a foreign country
- D.It refers to selling goods to another country through a person in the entrepreneur’s home country✓ Correct
Q59. Identify the term which best describes the term "management contracts"?
- A.It refers to selling goods made in one country to another country
- B.It refers to buying and selling of commodities
- C.It is a commercial activity of buying and bringing in goods from a foreign country
- D.It is method of doing specific international task✓ Correct
Q60. Which of the following best defines "minority interest"?
- A.It refers to having less than 50 percent ownership position✓ Correct
- B.It refers to forming a third company by combining two companies
- C.It refers to having more than 50 percent ownership position
- D.It refers to selling goods made in one country to another country
Q61. In which of the following centuries the people of Malaysia peninsula were converted from Islam?
- A.14th century
- B.15th century✓ Correct
- C.16th century
- D.17th century
Q62. Identify the statement which best defines "reverse brainstorming".
- A.It refers to groups of individuals providing in a structured format
- B.It refers to a group method for obtaining new ideas focusing on the negative✓ Correct
- C.It refers to a method for individuals to solve problems through one of four mechanisms
- D.It refers to a method for developing new ideas when the individuals are unaware of the problem
Q63. Identify the statement which best defines "checklist method"
- A.It refers to developing a new idea through a list of related issues✓ Correct
- B.It refers to a group method for obtaining new ideas focusing on the negative
- C.It refers to a method for individuals to solve problems through one of four mechanisms
- D.It refers to a method for developing new ideas when the individuals are unaware of the problem
Q64. Which one of the following is a method for obtaining new ideas and solutions by focusing on problems?
- A.Problem inventory analysis✓ Correct
- B.Gordon method
- C.Checklist method
- D.Scientific method
Q65. Which of the following statements best defines "forced relationship"?
- A.It refers to developing a new idea through a chain of word associations
- B.It refers to developing a new idea by looking at product combinations✓ Correct
- C.It refers to developing a new idea through inquiry and testing
- D.It refers to developing a new idea by evaluating the worth of aspects of ideas
Q66. How many major stages of "product planning and development process" are there?
- A.Four
- B.Five✓ Correct
- C.Six
- D.Seven
Q67. A design patent has a term of:
- A.20 years
- B.14 years✓ Correct
- C.10 years
- D.40 years
Q68. Lenders focus on four Cs of credit. Identify which of the following is NOT included in those four Cs.
- A.Character
- B.Cash flow
- C.Collateral
- D.Code of ethics✓ Correct
Q69. A typical inventor is usually ________________________.
- A.Highly creative & in love with the invention✓ Correct
- B.Does not encourage change
- C.Willing to modify the invention in order to augment commercial benefit
- D.None of the given options
Q70. Being one’s own boss is a need of:
- A.Independence✓ Correct
- B.Achievement
- C.Affiliation
- D.Authority
Q71. The difference between the value of a country’s imports and exports over time is called:
- A.Deficit exports
- B.Deficit imports
- C.Balance of payment✓ Correct
- D.Balance of debt
Q72. A/an ______ is an online connection between the company and its customers.
- A.Internet advertising
- B.Website page44✓ Correct
- C.E-Commerce
- D.World Wide Web
Q73. protection to owner from anyone else making, using and selling the identified innovation?
- A.Utility patent✓ Correct
- B.Design patent
- C.Plant patent
- D.International patent
Q74. All of the following are essentials to maintain secrecy, EXCEPT:
- A.Train employees to refer sensitive questions to one person
- B.Discuss business in public places✓ Correct
- C.Provide escorts for all office visitors
- D.Use simple security such as locked file cabinets
Q75. Who should prepare the business plan?
- A.Entrepreneurs✓ Correct
- B.Consultants
- C.Engineers
- D.Small business administration services
Q76. The product life cycle starts with which stage of product planning and development process?
- A.Test marketing stage
- B.Product development stage
- C.Commercialization stage
- D.Product planning and development process is a part of product life cycle✓ Correct
Q77. Developing a new idea through inquiry and testing is called:
- A.Heuristics
- B.Forced relationship
- C.Scientific method✓ Correct
- D.Value analysis
Q78. Trade barriers cause:
- A.Increase in cost✓ Correct
- B.Decrease in cost
- C.Increase in profit
- D.None of the given options
Q79. A person who managed large project was termed as the entrepreneur in the _________.
- A.Earliest period
- B.Middle ages✓ Correct
- C.17th century
- D.19th and 20th century
Q80. Which of the following is NOT a potential cost of becoming an entrepreneur?
- A.Financial reward✓ Correct
- B.Long hours
- C.Financial insecurity
- D.Loneliness
Q81. Which of the following is NOT included in the opportunity evaluation process?
- A.Length of the opportunity
- B.Real and perceived value of opportunity
- C.Goals and objectives of customers✓ Correct
- D.Risks and rewards of opportunity
Q82. The difference of the entrepreneurial and managerial domains has contributed towards an increase interest in which of the following?
- A.Forming new firms
- B.Partnership
- C.Intrapreneurship✓ Correct
- D.Private firms
Q83. Which is the most common cause of business failure?
- A.Insufficient capital✓ Correct
- B.Unstable market
- C.Insufficient experience
- D.Poor entrepreneurship
Q84. In which one of the following countries the entrepreneurial success has been significant because of the culture, the political and economic systems?
- A.European countries
- B.Asian countries
- C.Far East countries✓ Correct
- D.Middle East countries
Q85. Moral support network includes all of the following EXCEPT:
- A.Spouses
- B.Friends
- C.Business associates✓ Correct
- D.Relatives
Q86. 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:
- A.Economic development
- B.Barter system✓ Correct
- C.Balance of payment
- D.International trade
Q87. __________ is prepared on the bases of levels of the internal structure of the business.
- A.Organizational Plan✓ Correct
- B.Production Plan
- C.Marketing Plan
- D.Financial Plan
Q88. Which of the following is NOT a guiding principle in a traditional corporate culture?
- A.Follow given instructions
- B.Take responsibility and ownership✓ Correct
- C.Do not take initiative
- D.Do not make mistakes
Q89. In order to minimize the negative effect of any disruption in an organization, which of the following characteristics an intrapreneur must possess?
- A.He should be diplomatic✓ Correct
- B.He should be conservative
- C.He should be autocratic
- D.He should be authoritative
Q90. Which of the following best defines "horizontal merger"?
- A.It refers to combining at least two firms doing similar businesses at the same market level✓ Correct
- B.It refers to forming a third company by combining two companies
- C.It refers to having more than 50 percent ownership position
- D.It refers to combining at least two firms at different market levels
Q91. Which of the following is an example of rising number of women entrepreneurs in China?
- A.Guau Guarymei✓ Correct
- B.Wataru Ohashi
- C.Kazuhiko Nishi
- D.Li Ka-Shing
Q92. Which of the following best describes "contract"?
- A.It refers to a legally binding agreement between two parties✓ Correct
- B.It grants holder protection from others making, using or selling similar idea
- C.It may be a word, symbol, design or some combination that identifies the source of certain goods
- D.It refers to a legal document giving official permission to do something
Q93. Which of the following is the title or cover page that provides a brief summary of the business plan’s content?
- A.Executive summary✓ Correct
- B.Table of contents
- C.Mission statement
- D.Business description
Q94. Which of the following statement is true for entrepreneurship?
- A.Entrepreneurship is the dynamic process of creating incremental wealth✓ Correct
- B.Entrepreneurship involves the management process
- C.Entrepreneurship does not require the devotion of the necessary time and effort
- D.Entrepreneurship involves assuming the necessary financing
Q95. The skills required by entrepreneurs can be classified into three main areas, one of which is:
- A.Being innovative
- B.Personal entrepreneurial skills✓ Correct
- C.Social skill
- D.None of the mentioned options
Q96. The entrepreneur employs a flat organizational structure with:
- A.Which is hierarchical in nature?
- B.Which is formalized?
- C.Informal networks✓ Correct
- D.None of the mentioned options
Q97. Following leadership characteristics constitute a successful intrapreneur, except:
- A.Visionary and flexible
- B.Creates management options
- C.Train employees as well as share their experiences✓ Correct
- D.Persists
Q98. An opportunity assessment plan should focus on the opportunity and provide the basis to make the decision, and:
- A.A description of the product or service
- B.An assessment of the opportunity
- C.Assessment of the entrepreneur and the team
- D.All of the mentioned options✓ Correct
Q99. One of the factors making it desirable to create a new venture is:
- A.The Government
- B.Teachers✓ Correct
- C.Availability of financial resources
- D.None of the mentioned options
Q100. Some of the more frequently used ideas for new entrepreneur include:
- A.Consumers
- B.Existing companies
- C.Distribution channels
- D.All of the mentioned options✓ Correct
Q101. Personal entrepreneurial skills differentiate an entrepreneur from a manager and include
- A.Inner control (discipline)
- B.Risk taking
- C.Innovativeness
- D.All of the mentioned options✓ Correct
Q102. The product planning and development process – is divided into five major stages. Which of the following is not a stage of this process?
- A.Idea stage
- B.Concept stage
- C.Production stage✓ Correct
- D.Product development stage
Q103. One of the factors making it possible to create a new venture is:
- A.The Government✓ Correct
- B.Teachers
- C.Peers
- D.None of the mentioned options
Q104. International entrepreneur’s decisions are more complex because of:
- A.Business expansion
- B.Analysis of Huge information is difficult
- C.Complex transactions
- D.Uncontrollable factors✓ Correct
Q105. Which one of the following is a business arrangement in which someone else is allowed to use something of the company?
- A.Patent
- B.Trade mark
- C.Copy right
- D.Licensing✓ Correct
Q106. Which one of the following is a process of selling goods to other countries?
- A.Non equity arrangements
- B.Management contracts
- C.Exporting✓ Correct
- D.Direct foreign investment
Q107. Which one of the following is important for international business to avoid trade barriers?
- A.Protectionist attitude
- B.Entrepreneurial partnering
- C.Free trade areas✓ Correct
- D.None of the given options
Q108. Which one of the following is an important source of idea generation due to their familiarity with the needs of market?
- A.Existing products and services
- B.Distribution channels
- C.Federal government
- D.Consumers✓ Correct
Q109. Which one of the following insurance is compulsory for companies according to law?
- A.Life insurance
- B.Property insurance
- C.Disability and vehicle coverage✓ Correct
- D.Health care coverage
Q110. Health insurance premium is less expensive if there is:
- A.One insured participants
- B.Ten participants
- C.Large group of participants✓ Correct
- D.Very small group of participants
Q111. Which one of the following protects continuity of the business(specially in partnership)?
- A.Property insurance
- B.Casualty insurance
- C.Life insurance✓ Correct
- D.Bonding
Q112. Which one of the following is NOT an external factor?
- A.New regulations
- B.Competition
- C.Social changes
- D.Manufacturing✓ Correct
Q113. How many perspectives should be considered while preparing business plan?
- A.One
- B.Three
- C.Four
- D.Not specific✓ Correct
Q114. Which of the following is included in the description of the business?
- A.Location
- B.Products offered
- C.History
- D.All of the given options✓ Correct
Q115. In which of the following stage idea of new product is tested to determine consumer acceptance?
- A.Concept stage
- B.Product development stage
- C.Test marketing stage✓ Correct
- D.Commercialization stage
Q116. Having less than 50 percent of equity share in an international venture is called:
- A.Minority interest✓ Correct
- B.Joint venture
- C.Majority interest
- D.Exporting
Q117. Having more than 50% ownership position that provides the entrepreneur with managerial control is called:
- A.Joint venture
- B.Majority interest✓ Correct
- C.Horizontal merger
- D.Diversified activity merger
Q118. Which of the following is a method of selling goods to another country through a person in the entrepreneur’s home country?
- A.Trading
- B.Direct export
- C.Indirect export✓ Correct
- D.Domestic sales
Q119. In which of the following entrepreneur was known as an innovator?
- A.Earliest period
- B.Middle ages
- C.17th century✓ Correct
- D.20th century
Q120. In which of the following era entrepreneur enters into a contract with government to perform a service?
- A.20th century
- B.Earliest period✓ Correct
- C.Middle ages
- D.17th century
Showing the first 120 of 141 MCQs.