Entrepreneurship Management Online MCQ Set 6

QN01. A women entrepreneur is supposed to have a minimum financial interest in share capital of entrepreneur's enterprise:

  1. 35 per cent
  2. 51 per cent
  3. 25 per cent
  4. None of the above
Answer

(C)25 per cent

QN02. The entrepreneur was distinguished from capital provider in:

  1. Middle ages
  2. 17th century
  3. 18th century
  4. 19th and 20th century
Answer

(C)18th century

QN03. Having more than 50% ownership position that provides the entrepreneur with managerial control is called:

  1. Joint venture
  2. Majority interest
  3. Horizontal merger
  4. Diversified activity merger
Answer

(B)Majority interest

QN04. The activity which occurs when the new venture is started is called:

  1. Motivation
  2. Business skills
  3. Departure point
  4. Goal orientation
Answer

(C)Departure point

QN05. Which one of the following is the most important characteristic of a successful business website?

  1. Innovation
  2. Speed
  3. Graphics
  4. Products
Answer

(B)Speed

QN06. Family business always interested to handover the change of his business to:

  1. Indian Administration Officers
  2. Professional Managers
  3. Next generation
  4. None of the above
Answer

(C)Next generation

QN07. Which one of the following gives suggestions for new product and also help to market new products?

  1. Existing products and services
  2. Federal government
  3. Distribution Channels
  4. Consumers
Answer

(C)Distribution Channels

QN08. Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?

  1. New business model
  2. Anatomization
  3. None of the given options
  4. Creative destruction
Answer

(D)Creative destruction

QN09. Members of distribution channels are excellent sources for new ideas because:

  1. They earn a handsome profit from new business
  2. They are familiar with the needs of the market
  3. They do not bother if entrepreneur bears a loss
  4. They have well-developed sales force
Answer

(B)They are familiar with the needs of the market

QN10. Why should an entrepreneur do a feasibility study for starting a new venture

  1. To identify possible sources of funds
  2. To see if there are possible barriers to success
  3. To estimate the expected sales
  4. To explore potential customers
Answer

(B)To see if there are possible barriers to success

QN11. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as?

  1. Ecopreneur
  2. Technopreneur
  3. Intrapreneur
  4. Social Entrepreneur
Answer

(C)Intrapreneur

QN12. Venture capital is concerned with:

  1. New project having potential for higher profit
  2. New project of high technology
  3. New project having high risk
  4. All the above.
Answer

(A)New project having potential for higher profit

QN13. GATT is established in 1947, under:

  1. German leadership
  2. U.S. leadership
  3. French leadership
  4. U.K. leadership
Answer

(B)U.S. leadership

QN14. Having less than 50 percent of equity share in an international venture is called:

  1. Joint Venture
  2. Majority interest
  3. Minority interest
  4. Exporting
Answer

(C)Minority interest

QN15. The level at which an individual is viewed by society is called:

  1. Financial status
  2. Qualification
  3. Social status
  4. Achievement
Answer

(C)Social status

QN16. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

  1. Idea Stage
  2. Product Planning Stage
  3. Product Development Stage
  4. Test Marketing Stage
Answer

(C)Product Development Stage

QN17. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):

  1. Rs. 15 Lakh
  2. Rs. 20 Lakh
  3. Rs. 25 Lakh
  4. Rs. 30 Lakh
Answer

(C)Rs. 25 Lakh

QN18. Which of the following is alternatively called corporate venturing?

  1. Entrepreneurship
  2. Intrapreneurship
  3. Act of stating a new venture
  4. Offering new products by an existing company
Answer

(B)Intrapreneurship

QN19. Information regarding all of the following is related to operations, EXCEPT:

  1. Location
  2. Promotion
  3. Raw materials
  4. Labor skills
Answer

(C)Raw materials

QN20. A Business Model is related to

  1. A way of doing Business
  2. A perspective and a mode of looking at Markets
  3. A mode of transaction
  4. A structure of doing business involving market analysis and planning, revenue model and a plan of interacting with all the stakeholders involved.
Answer

(D)A structure of doing business involving market analysis and planning, revenue model and a plan of interacting with all the stakeholders involved.

QN21. Social entrepreneurship can be defined as which of the following?

  1. A process involving the innovative use and combination of resources to pursue opportunities to catalyze change and/or address social needs
  2. Coming up with new solutions to social problems and then implementing them, often on a large scale
  3. An attempt at the creation new social value through the creation of a new enterprise, such as self-employment, creating a new business or nonprofit, or the expansion of an existing social enterprise by an individual, team of individuals or firm’
  4. Any entrepreneurship is Social Entrepreneurship. /All of the above
Answer

(D)Any entrepreneurship is Social Entrepreneurship. /All of the above

QN22. Strategy Canvass is based on the framework of

  1. Eliminate Raise
  2. Eliminate Raise reduce create
  3. Focus, Divergence and Compelling tagline
  4. Offerings
Answer

(B)Eliminate Raise reduce create

QN23. As a business model

  1. Amazon is same as Uber
  2. Big Basket is same as Big Bazaar
  3. Amway is similar to HUL Shakti
  4. IBM is same as Del Computers
Answer

(C)Amway is similar to HUL Shakti

QN24. According to the ________________, it can be concluded that firms have a competitive advantage in a market if they offer products of a higher perceived value to the customers and lower relative costs than competing firms.

  1. Red ocean strategy
  2. Analysis of national competitiveness
  3. Blue ocean strategy
  4. Competitive triangle
Answer

(D)Competitive triangle

QN25. What is the aim of a strategy canvas?

  1. To avoid red oceans
  2. To move towards uncontested market space
  3. To increase a produce range
  4. To beat competitors on prices
Answer

(B)To move towards uncontested market space

QN26. An entrepreneur has an amalgamation of

  1. Thinking Ability, creativity, critical thinking, analytical abilities and originality.
  2. Aptitude for Human Relations.
  3. Communication Skills.
  4. Financial Ability
Answer

(A)Thinking Ability, creativity, critical thinking, analytical abilities and originality.

QN27. Which of the following traditional marketing elements do not apply to social entrepreneurship efforts?

  1. Public Relations
  2. Sales Promotion
  3. Marketing mix
  4. None of the above
Answer

(D)None of the above

QN28. Which of the following sentences best summarizes the differences between the red and blue oceans strategies?

  1. In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.
  2. Red oceans denote an environment where products are not yet well defined while blue oceans refer to the frequently accessed marketplaces where the products are well-defined,
    competitors are known and competition is based on price, product quality and service.
  3. Blue oceans are an old paradigm that represents all the industries in existence today while red oceans are those where companies beat competition by focusing on developing compelling
    value innovations that create uncontested market space.
  4. Red oceans are about avoiding head-to-head competition while blue oceans are about rivals fighting over a shrinking profit pool.
Answer

(A)In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.

QN29. Which of the following is correct?

  1. All innovations are also inventions.
  2. All inventions are also innovations.
  3. Inventions are related to science while innovations are related to social issues.
  4. None of the above
Answer

(A)All innovations are also inventions.

QN30. "Recognizing that most of the future processes are going to be affected by blockchain technology", is an example of

  1. Recognition of waste
  2. Understanding the future wave
  3. Feeling the pain of current users of technology
  4. All of the above
Answer

(B)Understanding the future wave

QN31. What is the role of technology forecasting in innovation?

  1. It helps in understanding the future application of existing technology.
  2. It helps in understanding the development of new technologies.
  3. It helps in understanding the market of a technology.
  4. All of the above
Answer

(D)All of the above

QN32. What is the innovation gap?

  1. An opening that rivals might exploit
  2. The time that elapses between invention and innovation
  3. A nation’s lack of inventiveness
  4. An opening that can be exploited by an entrepreneur with a good idea
Answer

(D)An opening that can be exploited by an entrepreneur with a good idea

QN33. Which of the following is correct?

  1. Technology is the use of engineering knowledge for wealth generation.
  2. Innovations are scientific inventions.
  3. Innovations are new ideas.
  4. Innovations are new ideas.
Answer

(A)Technology is the use of engineering knowledge for wealth generation.

QN34. "Realizing that solid waste management is poor in India, some reasons were identified. One of the reason is almost zero segregation of waste at source. Waste segregation after collection is a very difficult task." How will you use this observation in challenge book?

  1. Waste of efforts in segregation
  2. Pain of citizens for poor solid waste management
  3. Opportunity to use latest technology for Solid waste management
  4. All of the above
Answer

(D)All of the above

QN35. Which of the following is correct?

  1. Science is a systematic way of studying any phenomenon.
  2. Science is all about experimentation.
  3. Science is concerned with explaining things in a rational manner.
  4. All of the above
Answer

(D)All of the above

QN36. What is the general shape of a technology life cycle?

  1. S curve
  2. Normal distribution curve
  3. Bell curve
  4. Straight line
Answer

(A)S curve

QN37. According to MSME Act in India, what is the limit of investment in plant and machinery for a micro enterprises involved in manufacturing?

  1. Rs 5 lakhs
  2. Rs.20 lakhs
  3. Rs.25 lakhs
  4. There is no such limit in the act.
Answer

(C)Rs.25 lakhs

QN38. Which of the following is not included in the parameters of sustainable development?

  1. Carrying capacity
  2. Inter and Intra-generation equity
  3. Gender disparity and diversity
  4. None of the above
Answer

(D)None of the above

QN39. Innovations provide

  1. The primary means for differentiating your product from your competitors'
  2. Higher profit margins
  3. Potential barriers to entry
  4. All of the above
Answer

(D)All of the above

QN40. Basic framework of Insights is proposed on the basis of

  1. Contentions
  2. Information
  3. Observation
  4. Connections, Contradictions and Creative Desperation
Answer

(D)Connections, Contradictions and Creative Desperation

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