Mgt602 Collection of Old Papers

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FINALTERM EXAMINATION
FALL 2006 Marks: 60
MGT602 - ENTREPRENEURSHIP (Session - 1 ) Time: 120min
StudentID/LoginID: ______________________________
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Monday, February 12, 2007
INSTRUCTIONS
Please read the following instructions carefully before attempting any question
All questions are compulsory.

This exam consists of 15 Multiple Choice Questions (MCQ’s), 10 true & false, 5
short questions and 2 descriptive questions.
MCQ’s and true/false carry 1 mark each, short Questions carry 3 Marks each and
descriptive questions carry 10 marks each.
For each MCQ question, read the choices available and select the choice which
you consider is the most appropriate one. Multiple answers for a question will be
marked as zero.
Check your answer before proceeding to the next question.
This is a closed book, closed notes and closed neighbors examination.
Do not ask any questions about the contents of this examination from anyone.
a. If you think that there is something wrong with any of the questions,
attempt it to the best of your understanding.
b. If you believe that some essential piece of information is missing, make an
appropriate assumption and use it to solve the problem.
You may wish to pace yourself with your own watch, but the Supervisor will be
the official timekeeper of the test.
Failure to comply with the Supervisor’s directions will result in your test being
cancelled. Please comply with supervisor’s directions to avoid any unpleasant
event.
For Teacher's use only
Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21 22 23 24 25 26 27 28 29 30
Marks
Question 31 32
Marks
Question No: 1 ( Marks: 1 ) - Please choose one
A(n) ------------------is a professional money manager who makes risk investments from a pool of
equity capital to obtain a high rate of return on investments.
►
Entrepreneur
► Venture capitalist
► Manager
► None of the mentioned options
The skills required by entrepreneurs can be classified in to three main areas, one of them is:
► Being innovative
► Personal entrepreneurial skills
► Social skills
A good --------------- must be developed in order to exploit the opportunity defined.

► Venture
► Organizational culture
► Business plan
The entrepreneur employs a flat organizational structure:
► Which is hierarchical in nature?
► Which is formalized
► With informal networks
What causes people to do something?
► Need for achievement
► Need for independence
► Motivation
A -----------------is the combination of two firms that produce closely related projects in the same area.
► Vertical merger
► Product extension merger
► Diversified activity merger
► Horizontal merger
The product planning and development process is divided in five major stages. Which of the
following is not stage of this process?
► Idea stage
► Concept stage
► Production stage
► Product development stage
A --------- reflects the appearance of an object.
► Utility Patent
► Design Patent
► Plant patent
► International Patent
The marketing plan should answer the basic question:

► Where have we been?
► Where do we want to go (short term)?
► How do we get there?
► All of the mentioned options
The situation analysis is a review of where the company has been and considers many of the
► Products or services
► Pricing
► Environmental factors
► Distribution
The financial plan provides the ------------basis for budgeting.
► Short-term
► Long term
► Both of the options given
► None of the options given
When the business does not have assets to support a loan, the entrepreneur may need:
► Inventory loans
► Accounts payable loans
► Character loans
► Equipment loans
Synectics is a:
► Step in entrepreneurial process
► Form of international entrepreneurship
► Creative problem solving technique
Marketing research involves the gathering of data in order to determine information as:
► Who will buy the product?
► What price should be charged?
► What is the most effective promotion strategy?
------------is free advertising provided by a media outlet.

► Publicity
► Internet Advertising
► Trade Shows
► Advertising Agency
Product-evolution process is a process for developing and commercializing a mature product.
► True
► False
Creativity tends to decrease with age and education.
► True
► False
Direct exporting involves a foreign purchaser in the local market.
► True
► False
The entrepreneur should first conduct an environmental analysis to identify trends.

► True
► False
Marketing planning should be an annual activity.
► True
► False
The entrepreneur should have a good idea of who the customer or target market will be.
► True
► False
The study of behaviors and morals in a business situation is called Social Ethics.
► True
► False
Lifestyle firm is a small venture that supports the owners and usually does not grow.
► True
► False

A country’s balance of payments affects the valuation of its currency.
► True
► False
Internal environmental factors are more controllable by the entrepreneur.
► True
► False
Question No: 26 ( Marks: 3 )
Please comment on the statement “Lack of synergy is a frequent cause of the acquisition
failing to meet goals”.
What are Accounts receivable loans?
State five key areas in which a plan can be measured for progress.
Describe:
• Horizontal merger
• Vertical merger
• Product extension merger
How can internet be used for gathering information about a venture?

What are patents? Describe:
Design Patents
Utility Patents
Why Pakistani industrial history showed negative growth rate in past? Discuss some major
issues faced by Pakistani small scale and medium scale enterprises.
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FALL 2007 Marks: 60
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Wednesday, March 19, 2008
Please read the following instructions carefully before attempting any question:
This exam consists of 15 Multiple Choice Questions (MCQs) carrying 1 mark each; 5 True/
False statements carrying 1 mark each; 5 Fill in the Blanks carrying 1 mark each; 3 Short
Questions carrying 5 marks each; and 2 descriptive questions carrying 10 marks each.
For each MCQ, read the available choices carefully and select the most appropriate choice
which you consider is the correct answer, by clicking on the appropriate check box.
To answer fill in the blanks questions, write the word which you think is the most suitable by
comprehending the whole phrase.
For a true/ false statement, recognize the concept and answer accordingly.
Remember not to spend too much time on any one objective type question since all objective
type questions carry equal marks; it is important to manage your time according to the marks
allocated to each question.
Save your answer before proceeding to the next question.
Do not click the “Finish” button while solving your paper. Once you clicked the “Finish”
button, you will not be able to access your paper again. Click it at the end of your paper. That
means you have submitted your complete paper.
A clock is given in the exam software. Software will automatically close at the end of given
time.
Use of mobile phone is strictly prohibited. Switch off your mobile phone during the exam.
Failure to comply with the Supervisor’s directions will result in your test being cancelled.
Please comply with supervisor’s directions to avoid any unpleasant event.

Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21 22 23 24 25 26 27 28 29 30
Marks
______ is NOT a business organization that provides limited liability.
► Sole proprietorship
► Limited Liability Company
► Limited Partnership
► None of these
______ is when you divide the market you serve based on regions, such as, Northeast,
Southeast, and Midwest.
► Personality segmentation
► Demographic segmentation
► Geographic segmentation
► Benefit segmentation
__________ is a document designed to detail the major characteristics of a firm.
► Mission Statement
► Business Plan
► Executive Summary
► Marketing Plan

______ are people who buy ownership rights in your business.
► Debtors
► Family
► Creditors
► Outside equity investors
______ refers to the concept that a business has an existence separate from that of its owners.
► Going concern
► Costs and expenses
► Buying and selling
► Business entity
Which of these is the first step in crafting a job description?
► Job overview
► Credentials and experience
► Duties and responsibilities
► Job title
______ is the financial state of having more debt then assets.
► Bankruptcy
► Profitability
► Richness
► Solvency
______ is the value of current assets divided by current liabilities.
► Inventory turnover ratio
► Quick ratio
► Current ratio
► Total assets to total liabilities ratio
_____________ describes form of ownership and lines of authority and responsibility of

members of new venture.
► Organizational Plan
► Financial Plan
► Marketing Plan
► All of the given options
The key budget is the _____ budget for a small business.
► Marketing
► Sales
► Cash
► Retained earnings

______ calculates the ending inventories of raw materials and finished goods.
► Payables budget
► Cash receipt budget
► Sales budget
► Cost of goods sold budget
______ represent the number one source for small business financing.
► Government programs
► Angel investors
► The owners themselves
► Banks
"Profits are secondary to cash flow" is a financial management need in the ______ phase of
business.
► Financing for exit
► Financing for start-up
► Financing for growth
► Financing for operations
______ is/are a source of equity financing available during all four phases of business.
► Venture capital
► Friends and family

► Angel investors
► Self generated funds
Which of these refers to a valuable asset that is donated to your business without any
obligation to repay or to give any ownership interest?
► Debt
► Equity capital
► Tax credit
► Gift
During the start-up phase of a small business the primary financial management need is to
obtain sufficient funds to pay for equipment, buildings, inventory, and indeed, all the costs of
starting and running a business.
► True
► False
For start-ups, the most popular form of business is partnership.
► True
► False
The total liability issue in general partnerships is like that of sole proprietorship, therefore,
partnerships are something to avoid.
► True
► False
If the business is a corporation or an LLC, the owner can "only" lose what he or she has in
the business.
► True
► False
A job description defines and discusses all the essential knowledge, skills, and abilities that
are needed to fill the position.
► True
► False
A ___________ is a business association of two or more businesses or persons whereby the teams
work together on a single project.
A ____________ is a legal transaction joining two corporations to form a distinct new corporation.
An _____________ means obtaining control of another corporation by purchasing all or a majority

of its outstanding shares, or by purchasing its assets.
_____________ describes the interaction of factors that when combined produce a total affect that
is greater than the sum of the individual contributions.
_____________ are the groups with mutual interests and objectives that are non-profit and
independent of government.

What is the importance of an effective organization culture to meet the challenges during
business growth? Briefly explain.
What criteria are used by the investor to evaluate the new venture? Briefly describe.
Explain the importance and application of Break Even point for the new venture.
How can the new venture be effectively promoted through internet and advertising?
Discuss what financial strategies would you recommend to support the growth of a business
venture?
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SPRING 2007 Marks: 60
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Saturday, July 21, 2007
INSTRUCTIONS:

This exam consists of 15 Multiple Choice Questions (MCQ’s), 5 fill in the blanks, 5 true and false, 5 short
questions and 1 descriptive question.
For each MCQ question, read the choices available and select the choice which you consider is the correct
answer, by clicking on the appropriate check box.

Do not click the “Finish button” while solving your paper. Once you clicked the “Finish” button, you will
not be able to access your paper again. Click it at the end of your paper. That means you have submitted
your complete paper.
A clock is given in the exam software. Software will automatically be closed at the end of 90 minutes.
Remember not to spend too much time on any one MCQ or fill in the blank. Since all MCQ’s and fill in
the blanks carry equal marks, it is important to manage your time and responses to test questions
effectively.
Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply
with supervisor’s directions to avoid any unpleasant event.
Use of mobiles is strictly prohibited. Switch off the mobiles, if in your custody.

Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21 22 23 24 25 26 27 28 29 30
Marks
Question 31
Marks
---------------------------- are barriers to new product creation and development.
► Opportunity parameters
► Opportunity identification
► Opportunity circulation
► Opportunity multiplication
New business venturing refers to the:
► Creation of new business within an existing organization
► Transformation of organizations
► Both of the mentioned options
Internal beliefs appear to differentiate entrepreneurs from the general public, but not from:
► Auditors
► Managers
► Mentors
► Tycoons
The country affected by several economic and social factors is:
► Germany
► Pakistan
► France
► Argentina
----------------------------------- measures the ability of the venture to manage its total investment in
assets.
► Return on equity
► Return on investment
► Net profit margin ratio
► Acid test ratio
The ---------------indicates whether the business plan is economically feasible.
► Financial plan
► Marketing Plan
► Operations Plan

If a new venture is a manufacturing operation, a -------------------is necessary.
► Marketing Plan
► Production plan
► Financial Plan
Which of the following is not the characteristic of a marketing plan?
► Provide a strategy to accomplish the individual’s mission.
► Be based on facts and valid assumptions
► Provide for discontinuity
► Describe a manager to implement the plan
In pricing strategy, -------------------- is one of the many factors is to be considered:
► Costs
► Dollars
► Rupees
► None of the above
In a --------------------------, the death of the owner results in the termination of the business.
► Partnership
► Corporation
► Sole proprietorship
► Limited partnership
In the corporation, new capital can be raised by:
► Stock may be sold as either voting or nonvoting
► Bonds may be sold
► Money may also be borrowed in the name of the corporation
The financial plan provides the ------------basis for budgeting.
► Short-term
► Long term
Large positive cash flows may need to be invested in:
► Short term sources

► Long term sources
► Both of the options are true
► None of the given options
As long as the selling price is greater than the variable costs per unit, some contribution can be
made to cover:
► Variable costs
► Fixed costs
► Costs associated with assets
The SBIR grant program has --------------- phases.
► Four
► Two
► Three
► Ten
--------------------------- involve much time and expense.
----------------------------- is one of the simplest and lowest in entry costs.

Any borrowing from an outside investor may require giving up some --------------.
------------------------------------ for product(s) or service(s) are indicated in order to project

profitability of the venture.
--------------------------------------- are good network additions, as they keep up with new

developments and can provide overall industry data.
External environmental factors are more controllable by the entrepreneur.
► True
► False
The firm has fixed cost obligations that must be covered by sales volume in order for a company to
break even.
► True
► False
The limited partners have limited liability but are a taxable entity.
► True
► False
NGOs are privately owned organization registered under the social welfare act.
► True
► False
Heuristics is developing a new idea by evaluating the worth of aspects of ideas.
► True
► False
Discuss the most effective use of interim income statements.
What are the characteristics of a Marketing Plan?
What is the difference between entrepreneurs and inventors?
What is debt financing? How it relates to sales and profits?
What decisions are taken by a bank when lending money?
How price is determined for an Acquisition?

Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Tuesday, July 03, 2007
INSTRUCTIONS:

This exam consists of 15 Multiple Choice Questions (MCQ’s), 5 fill in the blanks, 5 true and false, 5 short
questions and 1 descriptive question.

effectively.
Use of mobiles is strictly prohibited. Switch off the mobiles, if in your custody.

Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21 22 23 24 25 26 27 28 29 30
Marks
Question 31
Marks
------------------------ denote no relationship between the mark and the goods and afford the
possibility of expansion.
► Coined marks
► Suggestive mark
► Superficial mark
► Trademark
The method of developing a new idea through a thought process progression is known as:
► Matrix charting
► Big dream approach
► Heuristics
► Parameter analysis
A copyright protects:
► Idea itself
► Original works of authorship

► None of the option given
A ---------patent reflects the appearance of an object.
► Utility
► Design
► Plant
► International
The financial plan determines the ------------------------- needed for the new venture.
► Investment
► Finances
► Sales
► Expenses
In almost all definitions of entrepreneurship, there is agreement that we are talking about a kind of
behavior that includes:
► Initiative taking
► The organizing and reorganizing or social/economic mechanisms to turn resources

and situations to practical account
► The acceptance of risk or failure

A good --------------- must be developed in order to exploit the opportunity defined.
► Venture
► Organizational culture
► Business plan
The new venture should be described in detail, including the:
► Product
► Location
► Personnel
► All of the option given
The study of behavior and morals in a business situation is called:
► Moral ethics
► Business ethics
► Personal ethics

To suggest certain features or characteristics of a product or service, we use:
► Descriptive mark
► Arbitrary mark
► Forward mark
Product or service does not involve:
► Packaging
► Brand name
► Price
► Maturity of the product
The environment of an entrepreneurial-oriented organization is the:
► Intrapreneurial culture
► Entrepreneurial culture
► Multinational culture
► National culture

A capital budget may project expenditures for:
► New equipment
► Vehicles
► New facilities
Fixed expenses (incurred regardless of sales volume) include:
► Rent
► Utilities
► Both of the given options
Profit is the result of subtracting:
► Expenses from sales
► Sales from expenses
► Gross profit from share capital
► Assets from liabilities
Double taxation can be avoided if the income is distributed as -----------------.

---------------------------------------------- provides complete overview of product(s), services, and

operations of new venture.
------------------------- is an important part of any business operation.
Market research begins with a definition of ---------------------------.
Short -------------------------------- should be the primary concern of website developers.
The title page does not provide a brief summary of the business plan’s contents.
► True
► False
Marketing planning should not be an annual activity focusing on decisions related to the marketing
mix variables.
► True
► False
Every new venture should define the nature of its business and what it hopes to accomplish.
► True
► False
Communication with managers and employees is one of the most important leadership qualities.
► True
►
False
A country’s balance of payments affects the valuation of its currency.
► True
► False
Write a note on Directorate of Industries (Balochistan).
Explain the factors which resulted in restructuring of SBFC.
Write a note on Regional Development Finance Corporation.
How the progress of the plan can be measured?
Explain the different types of joint ventures.
Explain the different steps involved in the process of starting a new venture?
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MIDTERM EXAMINATION
FALL 2006 Marks: 35
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Friday, December 01, 2006
All the questions are compulsory.

This exam consists of 10 Multiple Choice Questions (MCQs), 3 short questions and 1 long
descriptive question.
Time management is very important. MCQs and fill in the blanks may be solved first to secure
enough time for remaining descriptive questions.
For each MCQ, read the given options carefully and select the most appropriate or the best suitable
answer.
The use of notes, handouts, books or any other helping material is strictly prohibited in the centre
during the exam.
Please answer the short and long descriptive questions keeping in view the marks allocated for each
question.
You may wish to pace yourself with your own watch, but the supervisor will be the official
timekeeper of the test.
Please comply with supervisor’s directions to avoid any unpleasant event.
Failure to comply with the supervisor’s directions may result in your paper being cancelled.
Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14
Marks
Writing a business plan can ensure that
► You achieve your expense projections.
► You figure out how to make your business work.
► You meet your target revenue goals.
► You make a profit.
Your ________ is a concise communication of your strategy including your business definition and
your competitive advantage
► Target market analysis
► Mission statement
► Values statement
► Business plan
High-potential ventures are
► Ventures that have high growth potential and therefore receive great investor's
interest
► Very low growth ventures
► Small ventures that support the owners and usually do not grow
Inner control (discipline), risk taking, innovativeness, change oriented personality are
► Business management skills
► Technical skills
Proactiveness includes
► initiative taking
► risk taking
► competitive aggressiveness
Some of the world's greatest entrepreneurs have overcome challenges from their childhood and
youth, including:
► Learning disabilities
► Extreme poverty
► Abuse
The evaluation process involves looking at
► Risks and return of the opportunity
► Opportunity's fit with the skills and goals of the entrepreneur

► Opportunity's differential advantage in its competitive environment
Entrepreneurs view change as
► An opportunity
►
An inevitable situation
► A problem
► None of the above options
Profit is a sign that an entrepreneur has added value to the “scarce” ________ that he or she is using.
► Resources
► Employees
► Goods
► Ideas
Breakthrough innovations are
► A new product with just physical change
► A new product with some technological change
► Same product with some technological change
Explain the effect of educational environment, and employment history in the development of
entrepreneur's career
Differentiate between the entrepreneurial and managerial styles considering two business dimensions
1. Commitment of Resources
2. Control of Resources
Suppose if you want to start a new venture, while considering the future of the entrepreneurship,
what comes in your mind to further proceed in this field?
Explain entrepreneurial process in detail stating its four phases clearly

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MIDTERM EXAMINATION
FALL 2007 Marks: 40
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Wednesday, December 05, 2007
This exam consists of 10 Multiple Choice Questions (MCQs) carrying 1 mark each; 5 True/
False statements carrying 1 mark each; 3 Short Questions carrying 5 marks each; and 1
descriptive question –carrying 10 marks.
For each MCQ, read the available choices carefully and select the most appropriate choice
which you consider is the correct answer, by clicking on the appropriate check box.
For a true/ false statement, recognize the concept and answer accordingly.
Remember not to spend too much time on any one objective type question since all objective
type questions carry equal marks; it is important to manage your time according to the marks
allocated to each question.
Do not click the “Finish” button while solving your paper. Once you clicked the “Finish”
button, you will not be able to access your paper again. Click it at the end of your paper. That
means you have submitted your complete paper.
A clock is given in the exam software. Software will automatically close at the end of given
time.
Use of mobile phone is strictly prohibited. Switch off your mobile phone during the exam.
Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please
comply with supervisor’s directions to avoid any unpleasant event.

Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19
Marks
Question
Marks
Combination of at least two firms doing similar businesses at the same level is:
► Horizontal Merger
► Vertical Merger
► Product Extension Merger
► Diversified Activity Merger
A ______________ is an entity formed between two or more parties to undertake economic

activity together.
► Indirect Exporting
► Joint Venture
► Licensing
► Entrepreneurship
Combination of at least two firms at different market levels is:
► Horizontal Merger
► Vertical Merger
► Product Extension Merger
► Diversified Activity Merger
______________ is a method of developing new ideas when the individuals are unaware of
the problem.
► Checklist Method
► Free Association Method

► Gordon Method
► Scientific Method
The spirit of entrepreneurs must be:
► Ethically influenced
► Managerial
► Voluntary
Most of the innovations are:
► Iterative Synthesis
► Ordinary Innovation
► Technological Innovations
► Breakthrough Innovations
The _________________ refers to the ways managers make decisions.
► Administrative domain
► Entrepreneurial domain
► Intrapreneurial domain
Without _______________ , the organization will never be able to make the necessary
change.
► Lower Management
► Top Management
► Middle Management
The companies use the technology to make itself:
► Faster and Flexible
► Faster and Stiff
► Inflexible and rigid
The___________________ is the term used to describe the complete process of bringing a

new product or service to market.
► Idea Stage
► Concept Stage
► Product Development
► Test Marketing Stage
The belief that entrepreneurship is found only in small businesses is a misconception about
entrepreneurship.
► True
► False
Demographics are the linkage of economies and cultures that foster a business and
competitive situation in which organizations have no national boundaries.
► True
► False
Ethics involves the rules and principles that define right and wrong decisions and behaviors.
► True
► False
Venture capital is external equity funding provided by professionally managed pools of

investor money.
► True
► False
Plans are outcomes or end results that are desired by individuals, groups, or organizations.
► True
► False
Describe the role of entrepreneurship in existing organizations.
How the entrepreneurial culture differs from the traditional culture?
Why is it important for the entrepreneurs to consider the political legal environment while
starting a new venture?
What are the alternatives available for engaging in international business? Briefly Discuss.
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MGT602 Entrepreneurship
Mid Term Examination – Spring 2006
Time Allowed: 90 Minutes
• All questions are compulsory.
• This exam consists of 10 Multiple Choice Questions (MCQ’s) carrying 1 marks each, 5
fill in the blanks carrying 1 mark each 5 short questions carrying 3 marks each and 1
Descriptive question.
• This examination is closed book, closed notes, closed neighbors.
• Do not ask any questions about the contents of this examination from anyone.
• You may wish to pace yourself with your own watch, but the Supervisor will be the
official timekeeper of the test.
Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please
comply with supervisor’s directions to avoid any unpleasant event.
Question No. 1 Marks : 3
Define the term Gazelles?
It forces participants to consciously apply preconscious mechanisms through the use of

analogies in order to solve problem is called__________
Developing and operationalizing some thing in a foreign country is called ________

Two companies forming a third company is known as ________
Taking calculated chances in creating and running a venture is called _____________
The study of behavior and moral in a business situation is called______________
An entrepreneur is most likely to have direct control over company operations

in________stage?
Start-up
Growth
Maturity
Control remains the same through all stages

A trademark is
A word, symbol, name or device that a business uses to identify its goods.
A legal protection for information on foreign products.
Legal protection for intellectual works.
Legal protection for a U.S. product exported to another country
Which of the following is FALSE?
A patent protects the inventor from claims that his/her product infringes on an existing
patent.
A patent search may not identify patents that are pending.
A United States patent does not provide protection in foreign countries
None of the mentioned

Which of the following is not a type of patent?
Utility
Design
Plant
All of the mentioned
A U.S. patent prevents others from _________ the same invention in the United States.
Making
Using
Selling
All of the mentioned
A system of marketing by which an organization communicates directly with customers to

generate a response or transaction. This is the definition of
Distribution channels.
Direct marketing
Industrial marketing.
Basic marketing.
Which of the following is true?
There are many ways to brainstorm for developing new products.

In order to be successful, a new product must have the right channel of distribution.
New products may obtain legal protection through a patent, copyright, trademark, or trade
secret.
All of the mentioned.
A business plan:
Is developed through an intuitive process by which the entrepreneur records his/her plans
for the business in the future.
Focuses on the internal elements of the business.
Forces an entrepreneur to think a business idea through considering both its positive and
its negative aspects.
Is a strategic plan for a business that must be supplemented by operational plans once
financing is secured
Literary, dramatic, and musical works are protected by
Patents.
Copyrights.
Trademarks.
Trade secrets.
Entrepreneurs seem to be characterized by:
A desire for money.

An inability to organize but strong conceptual skills.
A desire to work alone because of weak management skills and a need for control.
A high energy level.
Discuss the steps involved in establishing intrapreneurship in the organization?
List down the categories of trademark?
Differentiate between diversified activity merger and horizontal merger?
What are the three common points among all the definitions of entrepreneurship?
Explain iterative synthesis?

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MIDTERM EXAMINATION
Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Tuesday, May 15, 2007
INSTRUCTIONS:

This exam consists of 10 Multiple Choice Questions (MCQ’s), 5 fill in the blanks, 5 short questions and 1
descriptive question.

effectively.
Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21
Marks
Which of the following statement is true for entrepreneurship?
► Entrepreneurship is the dynamic process of creating incremental wealth
► Entrepreneurship involves the management process
► Entrepreneurship does not require the devotion of the necessary time and effort
► Entrepreneurship involves assuming the necessary financing
The skills required by entrepreneurs can be classified into three main areas, one of which is:
► Being innovative
► Social skill
The entrepreneur employs a flat organizational structure with:
► Which is hierarchical in nature?
► Which is formalized?
► Informal networks
Following leadership characteristics constitute a successful intrapreneur, except:
► Visionary and flexible
► Creates management options
► Train employees as well as share their experiences
► Persists
An opportunity assessment plan should focus on the opportunity and provide the basis to make the
decision, and:
► A description of the product or service
► An assessment of the opportunity
► Assessment of the entrepreneur and the team
One of the factors making it desirable to create a new venture is:
► The Government
► Teachers
► Availability of financial resources

Personal entrepreneurial skills differentiate an entrepreneur from a manager and include:
► Inner control (discipline)
► Risk taking
► Innovativeness
The product planning and development process – is divided into five major stages. Which of the
following is not a stage of this process?
► Idea stage
► Concept stage
► Production stage
► Product development stage
One of the factors making it possible to create a new venture is:
► The Government
► Teachers
► Peers
Some of the more frequently used ideas for new entrepreneur include:
► Consumers
► Existing companies
► Distribution channels
Without-----------------, the organization will never be able to make the necessary changes.
----------------------innovations refer to new products with significant technological advancements.
The ---------------------------------- is a professional money manager who makes risk investments

from a pool of equity capital to obtain a high rate of return on investments.
The entrepreneur must be able to put forth the necessary --------------- and--------------- required for
the venture to succeed.
In ----------------- stage, consumer reaction is determined, often through a consumer panel.
Does the choice of a role model influence the career path of an entrepreneur? Explain it briefly.
How can distribution channels become a source of new idea generation for entrepreneur?
What influences the entrepreneur in starting a life-style firm?
What are the claims regarding product safety and liability?
How do ethics and business ethics differ from each other?
What are some of the more frequently used sources of ideas for new entrepreneurs?
MGT602- Entrepreneurship
Midterm Special 2006
www.vujannat.ning.com
Q 1: How existing companies can serve as a source of new product development idea?
Marks 3
Q 2: Explain design patents Marks 3

Q 3: What are the major reasons of merger? Marks 3
Q 4: How licensing is used to enter in international market? Marks 3
Q 5: What skills are required by an entrepreneur? Marks 3
Q 6: Give a brief description of each of the following Marks 10

MCQ’S
¾ Personal characteristics to be a successful entrepreneur includes
o Understanding environment
o Creating management options
o Encourage open discussion
o All of the above
¾ The arrangement that allow the entrepreneur to enter a market without direct equity
investment in the foreign markets known as
o Equity arrangements
o Non equity arrangements
o Management contract
o None of the mentioned
¾ A trademark is
A word, symbol, name or device that a business uses to identify its goods.
A legal protection for information on foreign products.
Legal protection for intellectual works.
Legal protection for a U.S. product exported to another country.
Entrepreneurs view change as
An opportunity.
A problem.
Inevitable.
None of the mentioned
A(n) ________ is a document that thoroughly explains a business idea and how it will be carried
out

Business plan
Marketing plan
Résumé
Analysis

The organization will never be able to make the necessary changes without_________
Top management commitment

Employees
WORKERS
NONE OF THE OBOVE

The most successful entrepreneurs say they are motivated by

The desire for money and to make their vision come true.
The desire for money.
The desire to make their vision come true.
All of the mentioned above

FIL IN THE BLANKS

Two companies forming a third company is Joint venture
A good business plan must be developed in order to exploit the opportunity defined
Breakthrough innovation mean the development of new products with some

technological change.
The level at which an individual in viewed by society is called Social status
Entrepreneurship is the dynamic process of creating incremental wealth

Student Name: ______________________________
Center Name/Code: ______________________________
Exam Date: Wednesday, August 23, 2006
• All questions are compulsory.
• This exam consists of 15 Multiple Choice Questions (MCQ’s) carrying 1 marks each, 5 fill in the
blanks carrying 1 mark 5 true and false carrying 1 mark each 5 short questions carrying 3 marks
each and 2 Descriptive questions carrying 10 marks each.
• This examination is closed book, closed notes, closed neighbors.
• Do not ask any questions about the contents of this examination from anyone.
• You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the
test.
• Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with
supervisor’s directions to avoid any unpleasant event.

Question 1 2 3 4 5 6 7 8 9 10 Total
Marks
Question 11 12 13 14 15 16 17 18 19 20
Marks
Question 21 22 23 24 25 26 27 28 29 30
Marks
Question 31 32
Marks
The entrepreneur should first conduct ______________to identify trends and changes occurring on
national and international level that may impact the new venture.
► Industry analysis
► Environmental analysis
Which of the following is not objective of marketing plan?
► Determine what people think of the product or service
► Determine where the customer would prefer to purchase the product
► Determine how the customer would prefer to purchase the product
► Determine how much the customer would be willing to pay for the product or
service

Four marketing variables are
► Product, pricing, distribution and financing
► Product, pricing, customer and promotion
► Product, service, distribution and promotion
► Product, pricing, distribution and promotion
Which of the following is not included in defining action programs
► How to meet customer needs
► Profits and sales
► Suggesting a reasonable price
► Channel of distribution
Cash flow is
► The result of subtracting expenses from sales
► The result obtained by subtracting actual cash payments from actual cash receipts
► None of the option given
Developing long term strategic plans for growth and expansion are the responsibility of
► Board of directors
► Middle management
► Lower level management
Equity financing
► Requires some assets to be used as collateral
► Offers the investor some form of ownership position in the venture

Profit or net income measures
► How business is operating
► How effectively the business is operating
► How efficiently the business is operating
Which of the following is not type of bank loans?
► Equipment loans
► Real estate loans
► Both of the options given are type of bank loans
Straight commercial loans

► Are used to cover working capital needs, usually for 30 to 40 days.
► Are self-liquidating loans, used for seasonal financing
► These loans are usually only available to more mature companies.
► These loans must have assets of an individual pledged as collateral, or have the loan
cosigned by another
Which of the following is not true for investors?
► An investor usually takes an equity position and can influence the nature of the
business to an extent.
► The investors’ degree of involvement is not important for the entrepreneur to

consider.
► Some investors want to be actively involved in the business, and others are more
passive.
► All of the options given are true for investors
Current ratio is commonly used
► To measure the ability of the venture to collects from its customers

► To measure the ability of venture to sell its inventory quickly
► To measure the short term solvency of the venture
Franchising is
► Purchasing all parts of a company
► Allowing another party to use a product or service under the owner’s name
► Joining two or more companies
► A company acquiring another company against its will
Which of the following is not characteristic of intrapreneurial leader?
► Creating management options
► Encouraging open discussions
► Avoiding a coalition of supporters and persisting

► All of the options given
Product life cycle has four steps involved
► Product introduction, market growth, market maturity, sales decline
► Product development, market growth, market maturity, sales decline
► Product development, test marketing, market maturity, sales decline
► Product planning, product development, market maturity, sales decline
PSIC stands for________________________________
_____________ provide protection from others who make, use or sell similar idea
________________ causes people to do something.
__________________are the restrictions limiting the size of a company’s debt?

__________________technique depends on a group leader, the one aware of the actual problem
and who leads the rest of the group through the problem solving process.
Aspects of a situation that make it desirable to start a new company are known as desirability of
new venture formation.
► True
► False
Liabilities represent money that is owed to creditors.
► True
► False
A method to protect the value of a company for its shareholders is known as- merger
► True
► False
Money raised by venture capitalists to invest is known as equity pool.

► True
► False
Contract is the legal agreement between two parties.
► True
► False
Why do some business plans fail?
How non equity arrangements are used to enter in international market by an entrepreneur?
What is the basic difference between limited partnership and partnership?
When a loan is called Accounts receivable loan?
Suppose you want to manufacture new type of computer tables how you will determine that your
product is in concept stage of production planning and development process
Explain role of entrepreneurship in economic development of Pakistan.
Explain any two of the following

Trade secrets
Business plans
Internet as resource information for developing business plans

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Student Name: ______________________________

Center Name/Code: ______________________________

Exam Date: Monday, February 12, 2007

 All questions are compulsory.

Question No: 1 ( Marks: 1 ) - Please choose one

► None of the mentioned options

Question No: 2 ( Marks: 1 ) - Please choose one

► Personal entrepreneurial skills

► None of the mentioned options

Question No: 3 ( Marks: 1 ) - Please choose one

A good --------------- must be developed in order to exploit the opportunity defined.

► None of the mentioned options

Question No: 4 ( Marks: 1 ) - Please choose one

The entrepreneur employs a flat organizational structure:

► Which is hierarchical in nature?

► With informal networks

► None of the mentioned options

Question No: 5 ( Marks: 1 ) - Please choose one

What causes people to do something?

► Need for achievement

► Need for independence

► None of the mentioned options

Question No: 6 ( Marks: 1 ) - Please choose one

► Product extension merger

► Diversified activity merger

Question No: 7 ( Marks: 1 ) - Please choose one

► Product development stage

Question No: 8 ( Marks: 1 ) - Please choose one

A --------- reflects the appearance of an object.

Question No: 9 ( Marks: 1 ) - Please choose one

The marketing plan should answer the basic question:

► Where do we want to go (short term)?

► How do we get there?

► All of the mentioned options

Question No: 10 ( Marks: 1 ) - Please choose one

Question No: 11 ( Marks: 1 ) - Please choose one

The financial plan provides the ------------basis for budgeting.

► Both of the options given

► None of the options given

Question No: 12 ( Marks: 1 ) - Please choose one

► Accounts payable loans

Question No: 13 ( Marks: 1 ) - Please choose one

► Step in entrepreneurial process

► Form of international entrepreneurship

► Creative problem solving technique

► None of the mentioned options

Question No: 14 ( Marks: 1 ) - Please choose one

► Who will buy the product?

► What price should be charged?

► What is the most effective promotion strategy?

► All of the mentioned options

Question No: 15 ( Marks: 1 ) - Please choose one

------------is free advertising provided by a media outlet.

Question No: 16 ( Marks: 1 ) - Please choose one

Product-evolution process is a process for developing and commercializing a mature product.

Question No: 17 ( Marks: 1 ) - Please choose one

Creativity tends to decrease with age and education.

Question No: 18 ( Marks: 1 ) - Please choose one

Direct exporting involves a foreign purchaser in the local market.

Question No: 19 ( Marks: 1 ) - Please choose one

The entrepreneur should first conduct an environmental analysis to identify trends.

Question No: 20 ( Marks: 1 ) - Please choose one

Marketing planning should be an annual activity.

All questions are compulsory.