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450 views3 pages

mid exam

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tsgshz2008
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© © All Rights Reserved
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MTU, CBE, Dep’t of Management

Entrepreneurship &enterprise development: mid-term exam for common course


Date, 11/26/2024 Time allowed: 1: hour maximum mark: (30%)
Name: ID. No. dept.:

Part I: Multiple choices (1.5 Pt. each)


1. Which one of the following is not correct statement?
A. An individual entrepreneur is a person who does entrepreneurial work within large
organization.
B. An entrepreneurial organization is organization that create an environment in which
all of its members can contribute in some function to the entrepreneurial function
C. An Intrapreneur is someone who started, acquired or franchised his/her own
independent organization.
D. A and C E) all
2. Which one of the following is correct statement about Entrepreneur?
A. An entrepreneur introduces new ideas, carries on new activities
B. An entrepreneur is who perceives an opportunity and creates business.
C. An entrepreneur combines and coordinates the factors of production.
D. all of the above
3. What is the first step in the opportunity identification and evaluation stage of the
entrepreneurial process?
A) Identifying the opportunity
B) evaluating the opportunity
C) Scanning the environment/getting the idea
D) developing the opportunity

4. All of the following are roles of entrepreneurship in the economic development of


nation except
A. It leads to increase unbalanced regional development
B. It helps to reduce unemployment in the country.
C. Promotes capital formation by mobilizing the idle saving of the public.
D. It promotes country’s export trade
5. Is the transformation of creative ideas into useful applications by combining
resources in new or unusual ways to provide value to society for or improved products,
technology, or services?
A. Innovation C. duplication

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B. Creativity D. Incubation
6. Business planning is often conducted when;
A. Starting a new venture (organization, product or service).
B. Expanding a current organization, product or service.
C. Buying a current organization, product or service.
D. All of the above.
7. ________is part of business plan which gives the first impression about the business
proposal.
A. Table of content. C. Executive summery
B. Company description. D. All of the above
8. All of the following are people management skill of entrepreneur except
A. Communication skill C. Time management skill
B. Delegation skill D. Negotiation skill E. none of the above

9. Which of the following best describes "The Young Professional" as outlined in the
document?

A) A person who innovates new products and services.


B) An individual forced into entrepreneurship due to exclusion from traditional job markets.
C) A highly educated individual who skips traditional employment to start their own ventures.
D) A member of a displaced community forming internal economic networks.

10. Which component of business plan provides about how the organization will be
dissolved, liquidate and helps in measuring risks involved in investing
A. Critical risks C. funding requirement
B. Exit strategy D. A and B E. All

11. Which of the following components is NOT part of the external environment of a
business?

A) Economic Environment C) Political Environment


B) Raw Material D) social Environment E) all

12. _______is the ability to come up with new ideas and to discover new ways of looking at
problems and opportunities.
A. production C. creativity
B. Innovation D. entrepreneurship E. all

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13. Which of the following best describes opportunity identification?

A) The process of generating random ideas for a business.


B) The ability to see and exploit opportunities that others miss.
C) The systematic approach to financial resource allocation.
D) The act of developing a business plan without market analysis.

14. Which opportunity identification and evaluation stages are that Creation and length of
the opportunity, real and perceived value, risks and returns, fit with personal skills, and
competitive advantage.

A) Opportunity identification C) Opportunity development


B) Opportunity evaluation D) scanning the environment E) all
Part. III: Discussion Question (3pts each).

1. List types of Innovation


2. List types of Business (Entrepreneurial Environment)
3. What are the three processes of idea screening?
Answer Sheet
Multiple choice
1 8
2 9
3 10
4 11

5 12

6 13

7 14

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