ENTREPRENEURIAL JOURNEY Chapter-3
Q1: ____________ is a process in which a number of persons sit together and generate a number of business ideas by innovating alternative ways of meeting the needs and solving problems. (a) Market Research (c) Environment Scanning (b) Brain Storming (d) None of the above Ans: (b) Brain Storming Q2: Which of the following type of feasibility is concerned details on how to deliver a product or service (a) Market feasibility (c) Financial feasibility (b)Technical Feasibility (d) Organizational feasibility Ans: (b)Technical Feasibility Q3: “Great ideas are not the problem: implementing them is.” It is (a) Misconception related to the business idea (b) Neither misconception not Reality (b) Reality Related to business Idea (d) Both Misconception and Reality Ans: (a) Misconception related to a business idea Q4” It provides a blueprint of actions to be taken in future.”Name it. (a) Format of Business plan (c) Production Plan (b) Execution of Business Plan (d) Financial Plan Ans: (a) Format of Business plan Q5: Samir has decided to open a new business of supplying sports equipment to the Sports Authority of India. He decided to charge the least possible for his products and to source them from small scale units. He tried to urge Sudhakar to join his business. Before giving his final answer, Sudhakar wants to know about the business. Which part of Business Plan should Sudhakar look into? (a) General Introduction (c) Production Plan (b) Business Venture (d) Financial Plan Ans: (b) Business Venture Q6: ____________ is a process whereby we subconsciously make decisions based on our cumulative knowledge and experiences. Fill in the above blank with the most suitable option: (a) Market Research (c) Environment Scanning (b) Intuition (d) Field Study Ans: (b) Intuition Q7: Which of the following type of feasibility is concerned with the legal and corporate structure of the business?
(b)Technical Feasibility (d) Organizational feasibility Ans: (d) Organizational feasibility Q8: “Great ideas appear out of nowhere” It is (a) Misconception related to business idea (b) feature of business idea (b) Reality Related to business Idea (d) Importance of business idea Ans: (a) Misconception related to a business idea Q9: “The key to the success of a business is one and only one”. Name it. (a) Format of Business plan (c) Production Plan (b) Execution of Business Plan (d) Financial Plan Ans: (b) Execution of Business Plan Q10: Samir has decided to open a new business of supplying sports equipment to the Sports Authority of India. He decided to charge the least possible for his products and to source them from small scale units. He tried to urge Sudhakar to join his business. Before giving his final answer, Sudhakar wants to know about the financial health of the business. Which part of Business Plan should Sudhakar look into? (a) General Introduction (c) Production Plan (b) Business Venture (d) Financial Plan Ans: (d) Financial Plan Q11: Which of the following type of entrepreneurs is suitable for medical, technology, finance, legal and consulting fields? (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (a) Trailblazers Q12: Which of the following type of entrepreneurs would not buy a franchise or distributorship, but they would start a company that competes with a franchise? (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (a) Trailblazers Q13: Which of the following type of entrepreneurs prefer being the outside rainmaker? (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (b) Go-getters Q14: _______________ don’t need to be expert in the field to start the business, they are good collaborators and can learn as they go. (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (b) Go-getters Q15: Which of the following type of entrepreneurs have a higher than average level of relaxation and know that some projects simply take more time to complete? (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (c) Managers Q16: Which of the following type of entrepreneurs do well in customer service roles, as they are able to see both sides of arguments by using three F’s- feel, felt, and found. (a) Trailblazers (c) Managers (b) Go-getters (d) Motivators Ans: (d) Motivators Q17: Which of the following type of entrepreneurs refer to themselves as accidental entrepreneurs because they may end up running a business that was never part of their original plan? (a) Trailblazers (c) Managers (b) Authoritarians (d) Motivators Ans: (b) Authoritarians Q18: ______________ type of entrepreneurs have characteristic of sociability which allows them to use their influence to get what they want. (a) Trailblazers (c) Collaborators (b) Authoritarians (d) Motivators Ans: (c) Collaborators Q19: Which of the following personality type of entrepreneurs have the characteristic of being restless and enjoy working under a certain amount of pressure? (a) Trailblazers (c) Collaborators (b) Authoritarians (d) Diplomats Ans: (d) Diplomats Q20: Who among the following has described the personality of Entrepreneurs as Trailblazers, Go-getters, Managers, Motivators? (a) C. Danhof (c) Richard Cantillon (b) Bill Wagner (d) Abraham Maslow Ans: (b) Bill Wagner |
Which of the following types of entrepreneurs is least likely to be involved with franchising
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