Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. Which of the following is a main PRINCE project aim?
a. Stay within budget.
b. Meet specified quantity.
c. Meet specified quality.
d. All of the above
Q. Which of the following is not a reason to reduce project completion time?
a. Release resources for other projects.
b. Avoid penalties for late completion.
c. Eliminate project critical path.
d. Reduce new product development time to market.
Q. Which of the following is the benefit of the network analysis approach?
a. Eliminate need for management judgement.
b. Avoid need to use structured approach.
c. Allows progress to be monitored against plan.
d. Derive error free forecasts.
Q. A project can be considered to have failed if it:
a. does not meet the users' requirements.
b. overran significantly on estimated delivery date.
c. was significantly over budget.
d. does not meet the business requirements.
Q. Why are small businesses important to a country's economy?
a. They give an outlet for entrepreneurs.
b. They can provide specialist support to larger companies.
c. They can be innovators of new products.
d. All the above.
Q. Which of the following factors is the most important in forcing U.S companies to focuson new product development and increased productivity?
a. Entrepreneurship
b. Hyper competition
c. Governmental laws
d. Organizational culture
Q. Which of the following is alternatively called corporate venturing?
a. Entrepreneurship
b. Intrapreneurship
c. Act of stating a new venture
d. Offering new products by an existing company
Q. Individuals influencing an entrepreneur’s career choice and style are known as which of the following?
a. Moral-support network
b. Role model
c. Professional support network
d. Support system
Q. The activity which occurs when the new venture is started is called:
a. Motivation
b. Business skills
c. Departure point
d. Goal orientation
Q. The level at which an individual is viewed by society is called:
a. Financial status
b. Qualification
c. Social status
d. Achievement
Q. Which one of the following is an important source of idea generation due to their familiarity with the needs of market?
a. Existing products and services
b. Distribution channels
c. Federal government
d. Consumers
Q. Members of distribution channels are excellent sources for new ideas because:
a. They earn a handsome profit from new business
b. They are familiar with the needs of the market
c. They do not bother if entrepreneur bears a loss
d. They have well-developed sales force
Q. Which one of the following is the most important characteristic of a successful business website?
a. Innovation
b. Speed
c. Graphics
d. Products
Q. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?
a. Idea Stage
b. Product Planning Stage
c. Product Development Stage
d. Test Marketing Stage
Q. SBA stands for:
a. Small business accountants
b. Small business administration
c. Small business adequacy
d. Small business advisors