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December 15, 2020

Entrepreneurship and Innovation (GST204) for past question and answer

Personality __ need for achievement and locus of control are foundg to be associated with entrepreneurial inclination

Select one:

a. customers

b. organization

c. traits✅

d. scientist

Starting a new business is a serious _ that requires a lot of commitment and hard work.

Select one:

a. business

b. venture

c. exercise✅

d. matter

The need for achievement theory was propounded by McClelland in _

Select one:

a. 1961✅

b. 1981

c. 1971

d. 1951

The business environment is _ and filled with uncertainties and risk

Select one:

a. complex

b. dynamic✅

c. market

d. constant

In getting things done and starting and maintaining a attention has to be paid to a lot of details.

Select one:

a. environment

b. business✅

c. market

d. objective

The sociological theory is the third of the major entrepreneurship _

Select one:

a. management‘s

b. theories✅

c. venture

d. individual

The classical movement described the role of the entrepreneur in the context of _ and distribution of goods in a competitive marketplace.

Select one:

a. business

b. environment

c. entrepreneur

d. production✅

Psychological _ of entrepreneurship identifies traits  motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual.

Select one:

a. theory✅

b. concepts

c. policy

d. traits

The entrepreneur is one who knows how to get under any circumstances either with others or through others

Select one:

a. people

b. results✅

c. research

d. studies

An entrepreneur has clarity about the _ to be achieved in the business the nature of goods to be produced and subsidiary activities to be undertaken

Select one:

a. business

b. customers

c. goals✅

d. objectives

1. The definition of entrepreneurship holds the promise of…
ANS- Growth, expansion and long term financial gain

2. The most important reason amongst others why people start their own business is
to…
ANS- Survive financially

3. The terms entrepreneur and owner manager is used interchangeably and
describes a person that…
ANS- All statements are incorrect

4. Which of the following is alternatively called corporate venturing?
ANS- Intrapreneurship

5. Entrepreneurship can be defined as…
ANS- The act of initiating, creating, building, expanding and sustaining a venture,
building an entrepreneurial team and gathering the necessary resources to exploit
an opportunity in the marketplace for long-term wealth and capital gain

6. A subsistence entrepreneur is…
ANS- Involved in independent income-generating activities operating as a
small-scale vendor

7. A Micro entrepreneur is….
ANS- A formal-sector entrepreneur with zero to 10 employees

8. A small-scale entrepreneur is ….
ANS- A formal-sector entrepreneur with 11 to 49 employees

9. Entrepreneurial companies are different from small business companies in that
they…
ANS- All of the options

10. Entrepreneurship is about….
ANS- People and knowing what they need, it motivates the entrepreneur to start,
set up and grow a business.

1. The definition of entrepreneurship holds the promise of…

ANS- Growth, expansion and long term financial gain

2. The most important reason amongst others why people start their own business is to…

ANS- Survive financially

3. The terms entrepreneur and owner manager is used interchangeably and describes a person that…

ANS- All statements are incorrect

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

ANS- Intrapreneurship

5. Entrepreneurship can be defined as…

ANS- The act of initiating, creating, building, expanding and sustaining a venture, building an entrepreneurial team and gathering the necessary resources to exploit an opportunity in the marketplace for long-term wealth and capital gain

6. A subsistence entrepreneur is…

ANS- Involved in independent income-generating activities operating as a small-scale vendor

7. A Micro entrepreneur is….

ANS- A formal-sector entrepreneur with zero to 10 employees

8. A small-scale entrepreneur is ….

ANS- A formal-sector entrepreneur with 11 to 49 employees

9. Entrepreneurial companies are different from small business companies in that they…

ANS- All of the options

10. Entrepreneurship is about….

ANS- People and knowing what they need, it motivates the entrepreneur to start, set up and grow a business.

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