MCQ For SNVM
MCQ For SNVM
1. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due
to its color. What could be the best source of this information?
a. Supplier
b. Retailer
c. Competition
d. Government
2. In some countries, points of purchase displays are not allowed in retail stores. Such differences are
studied by international entrepreneurs under __________ environment.
a. Economic
b. Political
c. Cultural
d. Technological
3. Having more than 50% ownership position that provides the entrepreneur with managerial control is
called ___________.
a. Joint venture
b. Majority interest
c. Horizontal merger
a. Expertise of an entrepreneur
5. A business where an individual is both the owner and conductor of the business affairs is
called__________________.
a. Sole Proprietorship
b. Partnership
c. Corporation
b. Partnership
7. The idea and actions that explain how a firm will make its profits refers to
a. Mission
b. Goal
c. Strategy
d. Objective
10. _________________ is one method of stimulating, and then capitalizing on, individuals in an
organization who think that something can be done differently and better.
a) Strategic Orientation
b) Capitalization
c) Intrapreneurship
d) Management
11. The _______ plan shows whether the business is economically feasible or not.
a. Financial
b. Business
c. Economic
d. Marketing
12. In which of the following, the ownership of venture is reflected by ownership of shares of stock?
a. Partnership
b. Limited partnership
c. Corporation
d. Proprietorship
14. The small business ‘owner-manager’ is always the founder of the business:
a. True
b. False (A management buyout is an example of a business where the owner-manager would
probably not have been the founder)
15. Which of these statements best describes the context for entrepreneurship:
16. Which of the following are described as one of the ‘Big Five’ personality traits?
a. propensity to leadership
b. need for achievement
c. extravert personality
d. tolerance of others
17. The period of business when an entrepreneur must position the venture in a market and make
necessary adjustments to assure survival is called the:
a. pre-startup stage.
b. startup stage.
18. Which of the following is a reason why a person might prefer to purchase a franchise rather than
open a completely new business?
b. increased independence.
a. Technological Capacity
b. Social environment
c. Political environment
d. Economic condition
21.__________________ requires proper review and reconsideration of the selected alternative before
implementing it.
a. Emotional blocks
b. Labour
c. Lack of sustained motivation
d. lack of vision
a. Samsung
b. Apple
c. Panasonic
d. Sony
24. ________________ can be defined as psychological features that enable an individual to take
action toward a desired goal?
a. Motive
b. Trait
c. Attitude
d. Ego
25. ___________ implies that women entrepreneurs are now economically independent and take
decisions independently.
26. Financial feasibility analysis can be done by comparing ______________ with the estimated sales
figure.
27. Which of the following is not considered while selecting the region?
28. Which one of the following is the step involved in setting up a new enterprises?
a. 1
b. 2
c. 3
d. 5
30. If someone starts a new business that is a service station, this is an example of a(n):
31. If an entrepreneur has an internal locus of control, this means that he/she:
a. obstacle thinking
b. thought self-leadership.
c. self-efficacy.
d. adaptive response behavior.
a. Life style
b. Foundation company
c. Small company
d. High potential venture
35. Which of the following factor can create the managerial difficulties in the joint ventures between
foreign companies?
a. Cultural differences
b. Economic policies
c. Public ignorance
d. Government taxes
a. Static
b. Continuous
c. Systematic
d. Dynamic
37. Barriers to new product creation and development are known as:
a. Promotion
b. Location
c. Raw materials
d. Labor skills
40. Which of the following is the key factor for choosing the type of financing?
a. Availability of funds
b. Assets of the venture
c. Prevailing interest rates
d. All of the given options
a. Planning
b. Organizing
c. Staffing
d. Directing
42. Which of the following is least likely to influence the timing of new business births?
a. Government policies
b. Profitability
c. Interest rates
d. Consumer expenditure
43. Which of the following is usually not a barrier to market entry for a small firm?
a. economy of scale
b. good ideas
c. switching costs
d. access to distribution
a. can allow new ventures to compete on more or less equal terms with large firms
b. offers a relatively inexpensive means of advertising and conducting market
and competitor research
c. can lead to small businesses having reduced contact with its customers
d. is rarely used in small businesses
45. Generally speaking the risk involved in launching as a franchise is greater than that as a start
up.
a. True
b. False
47. The entrepreneur who is committed to the entrepreneurial effort because it makes good business
sense is classed as a/an_____________________
a. inventor
b. opportunist
c. hacker
d. craftsman
48. To the __________, physical location does not matter because the Internet allows anyone to link to
any Web site no matter where in the world that site might be.
a. bricks-and-clicks retailer
b. e-tailer
c. bricks-and-mortar retailer
d. B-to-G business
49. Being interested in computers, Jim Johnson came up with an idea of personalizing the screen
saver programs with family pictures. After trying a couple of programs, Jim started
marketing this service to neighbors and area businesses. Jim’s activities can be described
as a(n)
a. entrepreneurship.
b. intrapreneurship.
c. useless idea.
d. large business.
50. Today, inspired by the growth of companies such as Amazon.com, entrepreneurs are flocking
to the---------------to start new businesses.
b. Internet
c. bookstore
d. mall
51. Which of these refers to the belief by individuals that their future is within their control and
that external forces will have little influence?
52. means that people are motivated to excel and pick situations in which success is
likely.
a. External locus of control
d. Need to achieve
53. Marleesha likes to set her own goals, which have an intermediate level of difficulty. Which
of the entrepreneurial characteristics does she probably possess?
a. brainstorming.
c. a hobby.
55. Before opening his own business, Tanay was writing a report that details the specifics of
his ideas and future business operations. This document is known as
a. a SWOT analysis.
b. a business portfolio.
c. a business plan.
d. a competitive analysis.
b. Proprietorship
c. Corporation
d. Association
57. Sangeeta , Kabir, and Ravi started selling computer software on college campuses under
the name Student Software Company. Each person contributed Rs.15000/- toward start-
up costs and agreed on dividing costs and profits equally. The legal structure for the
company can best be described as a
a. proprietorship.
b. partnership.
c. trade alliance.
d. corporation.
58. A group of companies or individuals that invests money in new or expanding businesses
for ownership and potential profits is known as
b. franchising.
d. a corporation.
59. An advantage of which of these tactics is that there is a shorter start-up time and an
existing track record?
c. Buy a franchise
d. Buy an existing business
60. Which of these refer to an arrangement by which the owner of a product or service allows
others to purchase the right to distribute the product or service with help from the owner?
a. Franchising
b. Business incubation
c. Spinning-off
d. Globalization
61. Which of these offers the advantage that the entrepreneur has the ability to develop and
design the business in the entrepreneur's own way?
62. For Internet start-ups, one typical source of first funds is through
a. stock financing.
b. government funds.
c. angel financing.
a. development of partnerships.
d. IPO.
64. Felix is an entrepreneur. At this stage of his company , his main concerns are do we
have enough customers and money. What stage of growth is Felix’s company in?
a. Start-up
b. Survival
c. Takeoff
d. Resource maturity
e. Success
65. Entrepreneurs take the risk of starting a business for all of the following reasons except:
66. Steve Jacobi is an entrepreneur to the max. Steve has started three businesses, two of which he
sold for a great deal of money. He is now involved in running his third business, with plans to sell it
shortly and start yet another one. When commenting on his success as an entrepreneur, he says that
once an idea comes to him, he just can’t wait to start working on it and bring it to reality, and that is
what he focuses on. Which of the traits of successful entrepreneurs does this suggest is characteristic
of Steve?
a. Action-oriented
b. Self nurturing
c. Self-directed
d. Tolerant of uncertainty
c. a group from the Small Business Administration which consults with small
business owners.
68. Robert Vadera is a business owner who works from home as a freelance video producer.
He really enjoys his work, but isn’t looking to “set the world on fire” with his company.
He just wants to make a good living and spend time with his family when he can. Vadera
would be classified as a(n)
a. entrepreneur.
b. intrapreneur.
c. micropreneur.
d. venture capitalist.
b. A program through which private investment companies licensed by the S.B.A. lend
money to small businesses.
c. A center that offers new businesses low-cost offices with basic business services.
70. Indrayani Jungle wants to start a small business importing some products from her native Kenya.
Before she starts, some good advice to Indrayani would be:
71. A business plan for a new business does not need to include:
a. a marketing plan.
72. The primary concerns when first starting your business are:
74. Kylie is employed by Street Wheels, a large corporation that produces accessories for scooters,
bicycles, and other children's vehicles. She is a creative force within the company and has helped
launch several new successful products. Kylie is a/an ____________________________.
a. Intrapreneur.
b. Partner
c. Entrepreneur
d. Owner
75. Babba, a licensed real estate broker, received notification that his application for a business
loan was denied. The bank refused his request because he failed to provide a blueprint
identifying the intended target market and competitive strategy. In order secure a bank loan
Babba evidently needs a:
A) bankruptcy lawyer.
B) business plan.
C) venture capitalist.
D) loan advocate.
76. As a ________ Ronnie searches for firms in need of additional funding to achieve their goals.
In return for his investment, Ronnie becomes a part owner in the business. Ronnie operates as
a(n):
A) investment analyst.
B) venture capitalist.
C) corporate raider.
D) securities trader.
77. The resistance of employees in an organization against flexibility, growth, and diversification can
be overcome by developing:
Entrepreneurship
Intrapreneurship
Managerial domain
Administrative domain
78. Which one of the following is a barrier to new product creation and
Opportunity parameter
Opportunity cost
Intrapreneurship culture
79. Factors contribute to the creation of new venture EXCEPT:
Government
Finance
Role models
80. Which one of the following is the process of entrepreneurs developing new products
that over time make current products obsolete?
Creative destruction
Anatomization
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
Entrepreneurship
Intrapreneurship
Act of stating a new venture
83. In which of the following situation the company is considered to be on breakeven point?
No Profit no loss
85. Which one of the following best represents the environment of an entrepreneurial oriented
organization?
Corporate culture
Entrepreneurial culture
Intrapreneurial culture
Traditional culture
87. Which one of the following is a business arrangement in which someone else is allowed to
use something of the company?
Patent
Trade mark
Copy right
Licensing
88. A patent is granted for a specified amount of time because of the assumption:
That during this time firm will cover its development costs
89. Which of the followings give the owners a negative right, preventing anyone from making,
using, or selling the invention?
Patent
Copyright
Trade mark
Trade secret
90. Which one of the followings statements is NOT true about trademarks?
The entrepreneur cannot file after the mark already been in use
The filing date for the trademark becomes the first date use of the mark
91. Which one of the following is the main problem for the entrepreneur in the beginning stages
of creating a new venture?
Lack of experience
Limited resources
Lack of education
92. Which one of the factors should be considered while assessing the location for business?
Parking
Delivery rates
93. Which one of the following is a sound strategic option for an entrepreneur when synergy is
present?
Merger
Joint venture
Minority interest
Majority interest
94. Why should an entrepreneur do a feasibility study for starting a new venture?
95. Kent is going to start his own business. He is concerned that the merchandise he wants to carry
will go out of style soon after opening his business. Which type of risk must he prepare for?
Human
Incompetence
Natural
Economic
96. Which of the following shows the process of creating something new?
► Business model
► Modeling
► Innovation
► Creative flexibility
97. Which one of the following gives suggestions for new product and also help to market new
products?
► Existing products and services
► Distribution channels
► Federal government
► Consumers
98. Which of the following is used by entrepreneurs to acquire experience in an international
market before making a major commitment?
► Merger
► Joint venture
► Minority interest
► Majority interes
99. GATT is established in 1947, under:
► German leadership
► French leadership
► U.S. leadership
► U.K. leadership
100. The entrepreneur was distinguished from capital provider in:
► Middle ages
► 18th century
► 17th century
► 19th and 20th century
101. A person who managed large project was termed as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
► 19th and 20th century
102. What is the process by which individuals pursue opportunities without regard to resources
they currently control?
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
103. Having less than 50 percent of equity share in an international venture is called:
► Minority interest
► Joint venture
► Majority interest
► Exporting
104. Having more than 50% ownership position that provides the entrepreneur with managerial
control is called:
► Joint venture
► Majority interest
► Horizontal merger
105. Which one of the following is the process of entrepreneurs developing new products that
over time make current products obsolete?
► New business model
► Anatomization
► Creative destruction
► None of the given options
106. Which of the following factors is the most important in forcing U.S companies to focus on
new product development and increased productivity?
► Entrepreneurship
► Hyper competition
► Governmental laws
► Organizational culture
107. Which of the following is alternatively called corporate venturing?
► Entrepreneurship
► Intrapreneurship
► Act of stating a new venture
► Offering new products by an existing company
108. Individuals influencing an entrepreneur’s career choice and style are known as which of the
following?
► Role model
► Moral-support network
► Professional support network
► Support system
109. The activity which occurs when the new venture is started is called:
► Motivation
► Business skills
► Departure point
► Goal orientation
110. The level at which an individual is viewed by society is called:
► Financial status
► Qualification
► Social status
► Achievement
111. Which one of the following is an important source of idea generation due to their familiarity
with the needs of market?
► Existing products and services
► Distribution channels
► Federal government
► Consumers
112. Members of distribution channels are excellent sources for new ideas because:
► They are familiar with the needs of the market
► They earn a handsome profit from new business
► They do not bother if entrepreneur bears a loss
► They have well-developed sales force
113. Which one of the following is the most important characteristic of a successful business
website?
► Speed
► Innovation
► Graphics
► Products
114. Which one of the following is the next stage to the Concept Stage of Product Planning and
Development Process?
► Idea Stage
► Product Planning Stage
► Product Development Stage
► Test Marketing Stage
115. SBA stands for:
► Small business accountants
► Small business administration
► Small business adequacy
► Small business advisors
116. Why should an entrepreneur do a feasibility study for starting a new venture?
► To see if there are possible barriers to success
► To identify possible sources of funds
► To estimate the expected sales
► To explore potential customers
116. Information regarding all of the following is related to operations, EXCEPT:
► Location
► Promotion
► Raw materials
► Labor skills
117. For which of the following copy right acquisition is desirable?
► Songs
► Poems
► Models
► All of the given options
118. Which of the following is TRUE for Disclosure Document?
► It gives recognition that he was the inventor of the idea in past
► It gives recognition that he is the first the inventor of the idea
► It gives recognition that he will be the invent an idea in future
► It gives recognition that he wants to copy the idea
119. In the administrative domain, the commitment of resources is for which of the following?
► Periodic intervals
► Total amount needed
► For certain tasks
► For long time
120. Which of the following is a method of selling goods to another country by taking care of
transactions?
► Indirect exporting
► Direct exporting
► Importing
► Management contract