Entrepreneurship Management 15

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Objective Questions and Answers of MBA: Entrepreneurship Management 15

Subject: Objective Questions and Answers of MBA: Entrepreneurship Management 15

Part 15: Objective questions and answers of Entrepreneurship Management

 

Q1. Which of the following is correct?

a) Innovation starts with creativity.

b) Innovation begins with curiosity.

c) Innovation happens accidently.

d) All of the above

 

Q2. In stage of responsibility allocation process the entrepreneur follows?

a) High centralized decision making process

b) Highly decentralized decision making process

c) Somewhat centralized decision making process

d) No particular standards

 

Q3. What is the role of incubator in the process of entrepreneurship?

a) Incubator provides financial support to start up.

b) Incubator provides mentorship support.

c) Incubator provides networking opportunities with venture capitalists.

d) All of the above

 

Q4. Which of the following is correct?

a) Japanese manufacturing philosophy focuses on Cost minimization.

b) Japanese manufacturing philosophy focuses on innovation.

c) Japanese manufacturing philosophy focuses on quality with minimum cost.

d) All of the above

 

Q5. Which of the following cannot be a type of reward for encouraging innovation in your organization?

a) Putting a poster mentioning your achievement along with your photograph on main notice board of the company

b) Giving you a Cash prize of Rs1 million

c) Giving you a promotion to some different department or location

d) None of the above

 

Q6. The development of a new venture based on an inventor’s work often requires _______

a) Expertise of an entrepreneur

b) Heavy investment from financers

c) Skilled Human resources

d) Highly educated staff

 

Q7. Which of the following is not a characteristic of frugal innovation?

a) Reducing complexity of a product

b) Removing nonessential features of a product

c) Reducing cost of a product

d) Improving quality of a product

 

Q8. Which of the following is correct?

a) In present times, the product life cycles are reducing.

b) In present times, the product life cycles are increasing.

c) In present times, uncertainty in business environment is reducing.

d) None of the above

 

Q9. Which of the following is correct?

a) Maslow proposed a five stage need hierarchy model.

b) Maslow proposed three stages need hierarchy model.

c) Maslow divided human behaviour in two categories.

d) Maslow divided human behaviour in three categories.

 

Q10. Which of the following is not correct?

a) Cocreation is a process which is used by innovators for getting new ideas.

b) Cocreation involves participation of customers in the process of solving a problem

c) Cocreation is possible in services and manufacturing.

d) None of the above

 

Q11. Single largest factor associated with a Business Model Failure is:

a) Incoherence with the Business Environment

b) Unavailability of regular banking and finance support

c) Powerful Competition

d) Complacency of the Organization and the team

 

Q12. Which of the following is important in selection of an idea?

a) Novelty of idea

b) Ease of implementation of idea

c) Impact of idea

d) All of the above

 

Q13. Which of the following is correct?

a) All ideas leading to innovation must go through the process of incubation.

b) All ideas leading to innovation must develop a prototype.

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

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

 

Q14. Which of the following is correct?

a) “naïve perception” helps in improving our ability to see more things around us.

b) “naïve perception” helps in improving our ability to implement the idea.

c) “naïve perception” helps in creating harmonious environment for innovation.

d) All of the above

 

Q15. Entrepreneurship can best be described as ______________.

a) A process that requires setting up a business.

b) Taking a significant risk in a business context.

c) Having a strong vision.

d) A process involving innovation, new products or services, and value creation.

 

Q16. Project management is ideally suited for a business environment requiring all of the following except ______________.

a) Flexibility

b) Innovation

c) Speed

d) Reputability

 

Q17. What are the components of the project report ______________.

a) Requirement of funds

b) Location

c) Manpower

d) All the above

 

Q18. Today, many companies are using managerial techniques that are designed to encourage ______________.

a) Ethical behaviour

b) Legal compliances

c) Increasing profits

d) Shareholders value

 

Q19. 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.

 

Q20. 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.

 

Part 15: Objective questions and answers of Entrepreneurship Management

 

Q1. Answer b

 

Q2. Answer b

 

Q3. Answer d

 

Q4. Answer c

 

Q5. Answer c

 

Q6. Answer a

 

Q7. Answer d

 

Q8. Answer a

 

Q9. Answer a

 

Q10. Answer a

 

Q11. Answer d

 

Q12. Answer d

 

Q13. Answer b

 

Q14. Answer a

 

Q15. Answer d

 

Q16. Answer d

 

Q17. Answer d

 

Q18. Answer a

 

Q19. Answer d

 

Q20. Answer d

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