Entrepreneurship Management 13

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Objective Questions and Answers of MBA: Entrepreneurship Management 13

Subject: Objective Questions and Answers of MBA: Entrepreneurship Management 13

Part 13: Objective questions and answers of Entrepreneurship Management


Q1. Basic framework of Insights is proposed on the basis of

a) Contentions

b) Information

c) Observation

d) Connections, Contradictions and Creative Desperation


Q2. Monetizing an idea to make money with some method of operations is known to be

a) Strategy

b) Scope

c) Business model

d) Business system


Q3. "Not-invented-here (NIH) syndrome," "I already known it (IAKI)," "Prove it to me (PITM)," and "How on Earth could my firm possibly do that" are.

a) Legitimate reasons to maintain a conservative innovation policy

b) Innovation's worst enemies

c) Signs of weak management

d) None of the above


Q4. Which of the ministry of Government of India deals with matters related to intellectual property?

a) Niti Aayog

b) Ministry of Human Resource Development

c) Ministry of Commerce and Industry

d) Ministry of Finance


Q5. What do you mean by WIPO?

a) World Intellectual Property Right Organization

b) World Internet Protection Organization

c) World Intellectual Protection Organization

d) World Indicator of Patents Organization


Q6. What do you mean by PCT?

a) Patent Cooperation Treaty

b) Protection of Copyright Treaty

c) Patent and Copyright Treaty

d) None of the above


Q7. What is the normal life a patent?

a) 10 years

b) 20 Years

c) 25 Years

d) There is no fixed life.


Q8. Which of the following is not a form of intellectual property?

a) Patent

b) Copyright

c) Cash in hand

d) Geographical Indicator


Q9. Which of the following is correct?

a) Mind-set is the biggest barrier in the process of innovation.

b) External environment is a major barrier in the process of innovation.

c) “Many of us feel that innovation is not my cup of tea” – this is a major challenge in the process of innovation.

d) All of the above


Q10. Which of the following is not correct with respect to “concept of challenge book”?

a) It helps in creating a template for recording various observations.

b) It helps in getting a readymade list of various problems which require innovative solution.

c) It is a record of impact created by different innovations.

d) None of the above


Q11. Who is not needed in developing participation for innovation in the organizations?

I. Role Model

II. Catalyst

III. Investor

IV. Customer

a) Only (iv)

b) Only (iii) and (ii)

c) Only (iii) and (iv)

d) Only (i)


Q12. How an Organization does deliver value? Through

a) By knowing what business they are into?

b) By knowing what the World is doing?

c) By knowing the politics of their Country.

d) By understanding the people around.


Q13. Looking at things with the innovative and innovation perspective India should be looking at the market growth with reference to products/areas of business/services like

a) Energy and Food

b) Entertainment

c) Shipping

d) Financial Management


Q14. The ______________ plan shows whether the business is economically feasible or not. 

a) Financial

b) Business

c) Technical

d) Marketing


Q15. Which of the following can be a source of curiosity?

a) Use of Social Media

b) 5 G Mobile Technology

c) Packaging wastages

d) All of the above


Q16. A set of reasons for engaging in a particular behavior, especially human behavior is known as ______________

a) Values

b) Vision

c) Entrepreneurship

d) Motivation


Q17. The importance of intellectual property should be understood by entrepreneur even before ______________

a) Hiring a manager

b) Engaging an attorney

c) Developing a product

d) Establishing new venture


Q18. Which of the following statements is not correct?

a) Divergent thinking works best for open ended problems.

b) Divergent thinking involves creativity.

c) Unlike convergent thinking, there is no single best correct answer in divergent thinking.

d) The process of divergent thinking is systematic and logical


Q19. Which of the following is not correct?

a) In process of cocreation, customers and solution provider shares value.

b) In process of cocreation, focus shifts from problem loci to problem space.

c) Both (a) and (b) are false.

d) Both (a) and (b) are correct.


Q20. How should India or similar markets look at the future?

a) On the basis of Needs and Resources.

b) On the basis of pattern set by the developed markets.

c) On the basis of the neighboring markets

d) On the basis of the desire of the entrepreneurs.


Part 13: Objective questions and answers of Entrepreneurship Management


Q1. Answer d


Q2. Answer a


Q3. Answer b


Q4. Answer c


Q5. Answer a


Q6. Answer a


Q7. Answer b


Q8. Answer c


Q9. Answer d


Q10. Answer c


Q11. Answer c


Q12. Answer a


Q13. Answer a


Q14. Answer b


Q15. Answer d


Q16. Answer d


Q17. Answer b


Q18. Answer c


Q19. Answer c


Q20. Answer a

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