Someone who improves an existing business can be called

1. An individual who initiates, creates and manages a new business can be called _____________.

A. A leader
B. A manager
C. A professional
D. An entrepreneur
ANSWER: D
2. Someone who improves an existing business can be called _________.
A. An intrapreneur.
B. A professional.
C. A co-worker.
D. A changeling.
ANSWER: A
3. Which could provide an individual with the motivation to start a new business venture?
A. The financial rewards.
B. A desire to be independent.
C. Risk taking
D. All the above.
ANSWER: D
4. Which of the following factors would not be included in a PESTLE analysis?
A. Government re-cycling policy.
B. Proposed reduction in interest rates.
C. Competitor activity.
D. Demographic changes.
ANSWER: C
5. Which industrial sector tends to naturally promote small-scale businesses and Entrepreneurship, and
generally has lower barriers to market entry?
A. Service.
B. Manufacturing.
C. Distribution.
D. Agriculture.
ANSWER: A
6. What is the need of entrepreneurship?
A. For new innovation
B. To fill gap in growth
C. For healthy competition
D. All the above.
ANSWER: B
7. Why are small businesses important to a country's economy?
A. They give an outlet for entrepreneurs.
B. They can provide specialist support to larger companies.
C. They can be innovators of new products.
D. All the above.
ANSWER: D
8. Basic problems of women entrepreneurs in India
A. Lack of education skill
B. Male dominating society
C. Absence of listen bearing capacity
D. All the above.
ANSWER: D
9. If the investments in fixed assets or plant and machinery does not exceed one crore rupees, then the
particular firm comes under the category of
A. Tiny industry
B. Small Scale Industry
C. Village Industry
D. Micro Industry
ANSWER: B
10. Which of the following is the reason for business failure __________.
A. Lack of market research.
B. Poor financial control.
C. Poor management.
D. All the above.
ANSWER: D
11. The use of informal networks by entrepreneurs to gather information is known as _______.
A. Secondary research.
B. Entrepreneurial networking.
C. Informal parameters.
D. Marketing
ANSWER: B
12. Good sources of information for an entrepreneur about competitors can be Obtained from_________.
A. Websites.
B. Product information leaflets.
C. Company reports and published accounts.
D. All the above.
ANSWER: D
13. A new venture's business plan is important because ______.
A. It helps to persuade others to commit funding to the venture.
B. Can help demonstrate the viability of the venture.
C. Provides a guide for business activities by defining objectives.
D. All the above.
ANSWER: D
14. Name the institution which was setup as an apex bank to provide direct or indirect financial assistance
under different scheme
A. SIDBI
B. NSIC
C. NABARD
D. RSBDC
ANSWER: A
15. Innovation can best be defined as_______.
A. the generation of new ideas.
B. the evolution of new ideas.
C. the opposite of creativity.
D. the successful exploitation of new ideas.
ANSWER: D
16. Which of these statements best describes the context for entrepreneurship?
A. Entrepreneurship takes place in small businesses.
B. Entrepreneurship takes place in large businesses.
C. Entrepreneurship takes place in a wide variety of contexts.
D. Entrepreneurship does not take place in social enterprises.
ANSWER: C
17. Entrepreneurs are motivated by _________.
A. money.
B. personal values.
C. pull influences.
D. All the above.
ANSWER: D
18. Which of the following are described as one of the Big Five personality traits?
A. tolerance of others.
B. need for achievement.
C. propensity to leadership.
D. locus of control.
ANSWER: B
19. Which of the following is least likely to influence the timing of new business births?
A. Government policies.
B. Profitability.
C. Consumer expenditure.
D. Weather conditions.
ANSWER: D
20. Which of the following statements is false?
A. Market segmentation is a useful process for small businesses to undertake.
B. Selling is essentially a matching process.
C. A benefit is the value of a product feature to a customer.
D. It is a good idea for small businesses to compete solely on price.
ANSWER: D
21. The purpose of all good small business strategy is__________.
A. to increase turnover.
B. to increase profitability.
C. to achieve competitive advantage.
D. to achieve stated objectives.
ANSWER: D
22. Which of the following is a recognized disadvantage of setting up as a start-up as compared with other
routes to market entry?
A. less satisfaction of the owners.
B. less help from various agencies.
C. there are more funds required.
D. there is a high failure rate.
ANSWER: D
23. Someone legally appointed to resolve the financial difficulties of an insolvent firm is called____________.
A. an administrator.
B. a predator.
C. an auditor.
D. a turnaround consultant.
ANSWER: A