Tag: entrepreneurship: an introduction, nature, importance and problems

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Questions Related to entrepreneurship: an introduction, nature, importance and problems

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Select the statement which is not true for entrepreneurs.

  1. They have leading power of quality

  2. They change the way businesses convent inputs into outputs.

  3. They apply innovative ideas

  4. They generally stick to the processes already in use
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Entrepreneurs usually think out of the box than the same old process of doing things, rather they believe in doing things with innovation and make sure they achieve what they desire for.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

To impose deadlines for himself is the requirement of ___________.

  1. entrepreneurs

  2. intrapreneur

  3. manager

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Intrapreneur is an entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities. An intrapreneur is mostly assigned to a project by the organization to which deadlines are imposed by himself to prove progress in its work. 

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Which statement is not true of entrepreneurs?

  1. They apply innovative ideas

  2. They take risks

  3. They change the way businesses convert inputs into outputs

  4. They generally stick to the processes already in use
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An entrepreneur is a person who is innovative in his ideas and thinks out of the box, they are open to take risks involved in the business process and they take different ideas to change the way of doing business and create more output from the input used.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Analyzing the business plan is required only for _________.

  1. start up company

  2. both start up company as well as established company

  3. companies that are not professionally managed

  4. both b and c
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Business plans are essential for both new ventures seeking funding and established companies looking to pivot, expand, or secure new investment.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Which one of the following is true about investment cost per job?

  1. Investment costs per job are high in large and medium industries

  2. Investment costs per job are high in small scale enterprises

  3. Investment costs per job are high in micro enterprises

  4. Investment costs per job are higher in micro enterprises than small scale enterprises
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Investment cost per job are high in large and medium industries. Large industry has to rely heavily on extensive capital investment in its start-up stage, leading to a high investment costs per job.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Secondary research in Entrepreneurship is __________.

  1. research that has already been done for other purposes but is recognized for specific purpose

  2. research that has already been done for general purpose

  3. research that has already been done for public purpose

  4. all of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Secondary research involves using data that has already been collected by others for different purposes, which is then analyzed to answer specific research questions.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Who are artiste entrepreneurs?

  1. Artist in T.V. serials

  2. Proclaim themselves to be artist

  3. Persons with creativity orientation

  4. Artist in movies
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Artiste- Often found in businesses demanding creativity such as web design and ad agencies. As an artist , typically youll tend to build your business around the unique talents and creativities you have.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Entrepreneur utilizes the resources through ___________.

  1. identifying and evaluating the opportunity

  2. developing a business plan

  3. implementing the business plan

  4. manage the enterprise
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An entrepreneur utilizes resources by executing their business plan, which translates the identified opportunity into a functional enterprise.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

What is an idea behind an Entrepreneur doing a feasibility study?

  1. To see of there are possible barriers to success

  2. To identify possible sources of funds

  3. To estimate the expected sales

  4. To explore potential customers
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A feasibility study is conducted to determine the viability of a business idea, specifically by identifying potential obstacles or barriers that could prevent success. While funding, sales, and customers are important, they are components of the broader assessment of whether the venture can realistically succeed.