1.

From the following which one is not classification of entrepreneurs

according to the types of business: (a) Wholesale trade (b) Retail trade (c)
Exporter (d) Rural entrepreneur

2. From the following which one is the classification of entrepreneurs

according to gender and age? (a) Men entrepreneurs (b) Women
entrepreneurs (c) Young entrepreneurs (d) All of above

3. Basic problems of women entrepreneurs in India: (a) Lack of education skill

(b) Male dominating society (c) Absence of listen bearing capacity (d) All of
the above

4. From the following, types of entrepreneur are: (a) Innovating entrepreneur

(b) Initiative entrepreneur (c) Drone entrepreneur (d) All of above

5. Which one is not the barriers of Entrepreneurships: (a) Lack of technical

skills (b) Political instability (c) Technical knowledge (d) Time pressure
and distractions

6. The largest industry group receiving venture capital funding is a) Computer

software. b) medical/health. c) Computer hardware. d) None of the above.

7. Name the institution which is set up as an apex bank to provide

direct/indirect financial assistance under different schemes and also
 coordinates the functions of other institutions in similar activities a) SIDBI
b) NSIC c) RSBDC d) None

8. If the investment in fixed assets or plant and machinery does not exceed one
crore rupees, then that particular firm come s under the category of a) Tiny
industry b) Small scale industry c) Village industry d) Cottage: industry

9. The spirit of entrepreneurship within the existing organization is called: A)

venture formation. B) Intrapreneurship C) entrepreneurship D) a joint
venture.
Answer: B Page: 37 Difficulty: Easy

10. One entrepreneur monitors the play habits and toys of her nieves and
nephews. This is a good example of: A) Opportunity identification. B)
Developing a business plan. C) Identifying resources and resource gaps. D)
Implementing a growth strategy.
Answer: A Page: 38 Difficulty: Medium

11.According to the text, channel members of the distribution system are good
sources to identify business opportunities. Which of the following would not
be such a channel member? A) wholesaler B) teacher C) retailer D)
manufacturer's rep
Answer: B Page: 39 Difficulty: Easy

12. An opportunity assessment plan: A) should focus on the opportunity and not
the entire plan. B) is shorter than a business plan C) provides the basis for
making the decision. D) All the above are true.
 Answer: D Page: 39 Difficulty: Medium

13.In order to gain the financing needed to create a venture, entrepreneurs must
often give up: A) some control of the new venture. B) A share of the
ownership. C) Patent rights. D) Both a and b.
Answer: D Page: 40 Difficulty: Medium

14. An entrepreneur's commitment to an opportunity is typically characterized

by: A) a short time span. B) Negotiations of strategy. C) Management of
fit. D) Long-term evolution.
Answer: A Page: 42 Difficulty: Medium

15.The commitment of resources for an entrepreneur: A) is usually for the total

amount needed. B) Requires the entrepreneur to reach significant
milestones with few resources. C) Requires the resource provides to have a
large exposure to risk. D) All of the above are true.
Answer: B Page: 42 Difficulty: Hard

16. What type of organizational structure does an entrepreneur employ? A) A

formal structure B) A hierarchical structure C) A structure based on
management theory D) A flat structure
Answer: D Page: 42 Difficulty: Medium

17. New business venturing involves: A) organizational innovativeness. B) self-

renewal. C) Proactiveness. D) all of the above.
Answer: D Page: 45 Difficulty: Easy
18. The typical corporate culture has a climate and reward system that favor: A)
risk taking. B) Conservative decision making. C) Innovation. D)
Obsequiousness.
Answer: B Page: 45-46 Difficulty: Medium

19.Intrapreneurial cultures foster: A) flat organizational structures B) lines of

authority. C) Standardized hours. D) Reporting systems.
Answer: A Page: 45-46 Difficulty: Medium

20.Relative time orientation for entrepreneurs is: A) immediate or instant

return. B) Short run. C) Long run. D) Medium range.
Answer: C Page: 46 Difficulty: Medium

21.One of the key elements to developing an intrapreneurial climate is to

encourage: A) R&D to operate on the cutting edge of technology. B) A
multidiscipline, teamwork approach. C) A short-term time horizon. D) Both
a and b.
Answer: D Page: 48-49 Difficulty: Medium

22. Which of the following statements about the entrepreneurial climate is (are)
true? A) Trial and error are encouraged. B) Resources of the firm need to be
available and easily accessible. C) A multidisciplinary approach is
encouraged. D) All of the above are true.
Answer: D Page: 48-49 Difficulty: Easy

23.The spirit of intrapreneurship: A) involves conservative decision making. B)

Must be voluntary. C) is genetic. D) all of the above
 Answer: D Page: 49 Difficulty: Medium

24.Which of the following adjectives describes an intrapreneur? A) Visionary

B) Loner C) Protective of turf D) Undiplomatic
Answer: A Page: 50 Difficulty: Medium

25. Intrapreneurship thrives in an atmosphere of: A) Machiavellian politics. B)

Compartmentalized work processes. C) Open discussion. D) Harmony.
Answer: C Page: 50 Difficulty: Medium

26. The first step toward establishing an intrapreneurial environment is: A)

identifying leaders. B) Identifying market opportunities. C) Securing
commitment of top management. D) Providing seminars for the company.
Answer: C Page: 51 Difficulty: Medium

27. In order to establish intrapreneurship within the organization, top

management should: A) commit to intrapreneurship for at least three
years. B) Discourage the development of mentors. C) Avoid setting program
expectations and target results. D) All of the above
Answer: A Page: 51 Difficulty: Hard

28.Formation of new ventures within a corporate structure is difficult due to: A)

lack of intrapreneurial talent. B) Lack of freedom to make autonomous
decisions. C) Lack of market opportunity. D) all of the above.
Answer: B Page: 52 Difficulty: Medium

29.Name the institution which was set up in 1982 to promote integrated rural
development
 (a) NSIC (b) NABARD (c) SIDBI (d) NCEUS

30 Internal locus of control refers to…

a) A belief that one can control one’s own environment

b) A belief that someone else controls one’s environment

c) A belief that one and someone lese control one’s environment

d) A belief that no one controls one’s environment

31. The reality of the myth that fear forces breakthrough is:

a) High pressure situations may lead to creativity

b) Competition causes a lot of ideas

c) Creativity is positively associated with joy

d) Rewarding creativity may lead to unhealthy competition

32. The first step in the entrepreneurial creativity process is:

a) Information gathering

b) Ignoring all existing information

c) Idea generation

d) Preparation
33 In testing the feasibility of products or services, one of the questions related
tothe product or service that should be asked, is:

a) Will the venture make or buy what it wants to sell?

b) Can suitable personnel be recruited?

c) Does the entrepreneur know how to sell the product or service?

d) Does the entrepreneur understand the market?

34 The test for marketability could be divided into the following four
categories:

a) Products, services, needs and wants

b) Industries, organisations, entrepreneur and staff

c) Budgeting, cost control, credit management and managing debtors

d) Customers, competitors, suppliers and marketing of products and

services

35 Why is knowledge of the communication and infrastructure environment

important? Which does NOT apply?

a) You have the ability to communicate your products and services to

potential customers.

b) Communication of the geographical area of the products and services

c) To be able to buy the right technology

d) To be able to withhold information to your suppliers

36 Strategic management consists of three phases; which does NOT apply?

a) The strategy implementation phase

b) The strategy performance phase

c) The strategy evaluation phase

d) The strategy formulation phase

37 Which of the following is something that the business plan cannot do?

a) Develop a sound business strategy

b) Aid the entrepreneur to work smartly rather than harder

c) Setting clear business goals and objectives

d) Predict the future

38 One of the negative effects of a business plan is that it:

a) Cannot aid the entrepreneur to develop business strategies

b) Does not guide the entrepreneur to develop realistic goals

c) Rapidly becomes outdated because of changing market conditions

d) Does not help the entrepreneur to be motivated

39 Which one of the following is not part of the steps involved in preparing a

Business plan?
 a) Determine the present status of a business
b) Describe where you want to go with the business and to develop goals
to takeyou there
c) Submit the business plan when applying for funds
d) Formulate an action plan to facilitate the realization of objectives

40 The _______ of the business plan briefly sets out the business plan
indicating the major objectives and describing the products and (or) services,
marketstrategy and some financial projections
a) Cover sheet
b) Executive summary
c) Brief history
d) Appendices

41 Business plans:

a) Predict the future.

b) Guarantee funding.

c) Cannot predict the future

d) Can raise all the money required.

42 The first stage in the life-cycle of a business is:

a. Start-up
b. Seed or concept
c. Product and organizational development
d. Maturity
43 Which of the following does not take place during the start-up stage of the

Business venture?

a. Initial screening of product and business ideas

b. Completing and testing a prototype of a product or service idea
c. Identifying initial customers and suppliers
d. Undertaking a market analyses

44 A business is classified as a family business in all cases except for:

a) Where one or more members of a family have a significant ownership

interest.

b) If a person is a controlling shareholder, rather than a state or corporation.

c) Non-family member shareholders do not have controlling shareholding.

d) The family has less than 20 percent controlling shareholding

e) None of the above

45 The development of a family business and succession are affected by all

Factors except for:

a. Size of the family

b. Money
c. Volume of Business
d. Family members’ managerial ability
 e. Technical ability

46 Successful information entrepreneurs will access the best information

Available in order to:

a. Choose a domain name

b. Design a site
c. Arrange for payment terms
d. Create social media presence
e. All of the above

47 A disadvantage of a technology entrepreneur is that:

a. Competition is global
b. Modestly priced marketing tools
c. Barrier of entry
d. Social Networking
e. None of the above

48____________ is a major advantage of a franchise

a. The franchisor
b. Established name recognition
c. The franchisee
d. Creative control
49 _____ is the position of a firm on a continuum ranging from highly
conservative to highly entrepreneurial.

a) Risk tolerance
b) Entrepreneurial intensity
c) Inventiveness
d) Organizational bureaucracy

50 Which technique for generating ideas depends on freewheeling, the carefree

expression of ideas free of rules or restraints?

a) Focus groups
b) Benchmarking
c) Brainstorming
d) Projection

51 _____ is conducted to determine whether a proposed business has sufficient

management expertise, organizational competence, and resources to successfully
launch its business.

a) A marketing plan
b) Financial feasibility analysis
c) Industry/market feasibility analysis
d) Organizational feasibility analysis

52All of the following are suitable questions to ascertain Product/Service

Desirability EXCEPT:
 a) Does it make sense?
b) Is the product or service financially feasible?
c) Is this a good time to introduce the product or service in the market?
d) Are there any fatal flaws in the product or service's basic design or concept?

53 _____ is an assessment of the overall appeal of the product or service being

proposed.

a) Concept testing
b) Product/service feasibility analysis
c) Test marketing
d) Usability testing