Q1: A Struggles-Causes of failure-Product/ market___
- A. Poor product quality
- B. Higher price
- C. No timing
- D. Inherent defect
Answer
Answer C. No timing
Q2: Which of the following shows the process of creating something new?
- A. Business model
- B. Modeling
- C. Creative flexibility
- D. Innovation
Answer
Answer D. Innovation
Q3: Entrepreneurs and strategic decisions does not include___
- A. Non Recognizing a problem
- B. Generating alternatives
- C. Evaluating various alternatives
- D. Selecting the alternative that best satisfies
Answer
Answer A. Non Recognizing a problem
Q4: Adhering to labour laws does not includes
- A. The Industrial Employment (Standing Orders) Act, 1946
- B. The Inter-State Migrant Workmen (Regulation of Employment and
- C. Conditions of Service) Act, 1979
- D. Companies Act
Answer
Answer D. Companies Act
Q5: 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
Answer
Answer B. Distribution channels
Q6: Financing an Entrepreneurs includes
- A. Lack of Personal Capital
- B. Fewer Networking contact
- C. Poor credit history
- D. All the above
Answer
Answer D. All the above
Q7: ___improves your ability to handle the pressures of the business world. If you wait for stress to arrive before you take action, you are going to experience unnecessary pain
- A. Managerial resilience
- B. Agreement
- C. Management
- D. Selection
Answer
Answer A. Managerial resilience
Q8: Opportunities for social innovation are greatest when
- A. CSR is aligned with a firm’s core skills and capabilities
- B. CSR spending of a firm is larger than that of its competitors
- C. CSR is pursued by a firm to improve its reputation
- D. CSR is pursued by a firm to enhance human capital
Answer
Answer A. CSR is aligned with a firm’s core skills and capabilities
Q9: What is a key obstacle to the success of non-traditional partnerships?
- A. Lack of investment by a multinational firm
- B. Lack of trust between partners
- C. Lack of expertise within a multinational firm
- D. Lack of government support
Answer
Answer B. Lack of trust between partners
Q10: What are the four generic strategies of social responsiveness?
- A. Pro action, Defensive, Reinvestment, Reaction
- B. Reaction, Defense, Investment, Withdrawal
- C. Reaction, Defense, Reinvestment, Pro action
- D. Reaction, Defense, Accommodation, Pro action
Answer
Answer D. Reaction, Defense, Accommodation, Pro action
Q11: The organization will never be able to make the necessary changes without___
- A. Top management commitment
- B. Employees
- C. Workers
- D. None of the mentioned
Answer
Answer A. Top management commitment
Q12: Licensing arrangements have
- A. Low risk process involved
- B. Easy way to generate incremental income
- C. Several pitfalls
- D. All of the above
Answer
Answer D. All of the above
Q13: locus of control is
- A. feeling
- B. Attitude
- C. Attribute
- D. None of the above
Answer
Answer C. Attribute
Q14: ___is the combination of at least two firms doing similarbusinesses at the same market level
- A. Diversified activity Merger
- B. Horizontal Merger
- C. Joint Venture
- D. Vertical Merger
Answer
Answer B. Horizontal Merger
Q15: An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?
- A. Supplier
- B. Retailer
- C. Competition
- D. Government bureau
Answer
Answer B. Retailer
Q16: Entrepreneurial success has been significant because of the culture and the political and economic systems in___
- A. European countries
- B. Asian countries
- C. Transition economies
- D. Middle east
Answer
Answer B. Asian countries
Q17: When the multiplicity of environments become too complex to handle, the international entrepreneurs often___
- A. Go for mergers
- B. Diversify
- C. Decentralize operations
- D. Sale out the foreign business
Answer
Answer C. Decentralize operations
Q18: Which of the following factors has allowed small companies to act like they are big ones? Select correct option
- A. Competition
- B. Economic development
- C. Technology
- D. Customers
Answer
Answer C. Technology
Q19: What are the three levels of innovation?
- A. New product creation, new market creation, leadership
- B. In-market innovation, new market creation, leadership
- C. New product creation, new market creation, new reputation
- D. New product creation, new market creation, pioneering
Answer
Answer B. In-market innovation, new market creation, leadership
Q20: The entrepreneur’s___depends on his perception of the opportunity
- A. Commitment to opportunity
- B. Commitment of resources
- C. Control of resources
- D. Strategic orientation
Answer
Answer A. Commitment to opportunity
Q21: This is not one of the steps in arriving at business opportunity
- A. Generating ideas
- B. Screening process
- C. Formulating concept of the business
- D. Formulating a business strategy
Answer
Answer D. Formulating a business strategy
Q22: For generating ideas an entrepreneur must focus on
- A. Society
- B. Business Objective
- C. Needs & wants of people
- D. All of the above
Answer
Answer C. Needs & wants of people
Q23: In the screening process step of business opportunity identification, an entrepreneur should take a___
- A. Macro perspective
- B. Micro perspective
- C. Broader perspective
- D. None of the above
Answer
Answer A. Macro perspective
Q24: Which of the following is not the macro-environmental factor to be considered during the screening process of business opportunity identification?
- A. Technological
- B. Educational
- C. Political
- D. Social
Answer
Answer B. Educational
Q25: Which of the following is not one of the ways of scanning the environment for identification of business opportunity?
- A. Looking closely at the market
- B. Looking at the available physical resources
- C. Looking at People’s skills
- D. Looking at Available Business Assistance Program
Answer
Answer B. Looking at the available physical resources
Q26: While scanning the environment for identifying the business opportunity an entrepreneur must look closely at the market to___
- A. Identify demand supply gap
- B. Possibility of product substitution
- C. Find out forward-backward industry linkage
- D. All of the above
Answer
Answer D. All of the above
Q27: The most appropriate reason why a budding entrepreneur must visit Government & private institutions or NGO’s while doing screening of the environment is___
- A. To find out the available business assistance programs
- B. To check the possibility of getting financial assistance
- C. To check the availability of training & capability building programmes
- D. To get the assistance for resource building & development
Answer
Answer A. To find out the available business assistance programs
Q28: Which of the following is not one of the methods of scanning environment for collecting information?
- A. Ad Hoc Scanning
- B. Regular Scanning
- C. Intermittent Scanning
- D. Continuous Scanning
Answer
Answer C. Intermittent Scanning
Q29: A method of environmental scanning which is short-term, infrequent & initiated by crisis is called as
- A. Intermittent Scanning
- B. Irregular Scanning
- C. Ad-hoc Scanning
- D. None of the above
Answer
Answer C. Ad-hoc Scanning
Q30: A method of environmental scanning which entails regular collection or processing of data on a wide range of factors from business environment is called as
- A. Continuous Scanning
- B. Regular Scanning
- C. Ad Hoc Scanning
- D. Intermittent Scanning
Answer
Answer A. Continuous Scanning
Q31: Which of the following are the means of collecting information while scanning the environment for identifying business opportunity?
- A. Trade Fairs
- B. Public Meetings
- C. In-Depth Interviews
- D. All of the above
Answer
Answer D. All of the above
Q32: Which of the following is not one of the personal-level screening parameter while doing opportunity search & identification?
- A. Educational & Training background
- B. Morale values & ethics
- C. Work experience
- D. Business networks & contacts
Answer
Answer B. Morale values & ethics
Q33: Which of the following is not one of the Firm-level screening parameter while doing opportunity search & identification?
- A. Availability of raw material
- B. Capital requirement
- C. Government support
- D. Family support
Answer
Answer D. Family support
Q34: Which of the following is not one of the ‘M’ of the resources to be considered while doing ‘Resource analysis’ for opportunity search & identification?
- A. Merchandise
- B. Method
- C. Moment
- D. Management
Answer
Answer A. Merchandise
Q35: Resource analysis needs to be done at the time of opportunity search & identification, to___
- A. Identify the firm’s strengths & weaknesses
- B. find out firm’s capabilities at the start of the business
- C. identify distinctive competencies of the firm
- D. All of the above
Answer
Answer D. All of the above
Q36: The environmental analysis at the start of the business indicates___
- A. The strengths & weaknesses of the firm
- B. The competencies & capabilities of the firm
- C. Whether the business will survive or not
- D. None of the above
Answer
Answer C. Whether the business will survive or not
Q37: “People have developed the habit of eating out in multi-cuisine & fast-food restaurants preferring to eat instant, processed food.” What type environmental opportunity is this?
- A. Economic
- B. Socio-cultural
- C. Technological
- D. Population trend
Answer
Answer B. Socio-cultural
Q38: “The Covid-19 Pandemic has severely hampered the supply of raw materials, manufacturing & trading activities & service sector resulting into the global economic slowdown.” What kind of environmental threat is this?
- A. Economic
- B. Global environment
- C. Natural
- D. Socio-cultural
Answer
Answer C. Natural
Q39: “An unstable & coalition Government in power would adversely influence the State / Nation’s economy.” What type of environmental threat is this?
- A. Economic
- B. Government program
- C. Peace & Order
- D. Political
Answer
Answer D. Political
Q40: “The Government provides Financial, Technical & Marketing assistance to the MSME’s.” What kind of environmental opportunity does this indicate?
- A. Economic
- B. Political
- C. Government program
- D. Technological & Technical
Answer
Answer C. Government program
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