Top 250+ Solved Entrepreneurship and Small Business Management MCQ Questions Answer
Q. Bobby believes that what takes place within his new company is mostly the result of fate or factors that are outside of his control. It could be stated that Bobby possesses a/an ______.
a. innovative spirit
b. intrapreneurship
c. internal locus of control
d. high need for achievement
Q. Entrepreneurial Opportunities are defined as:128
a. situations in which new goods, services, raw materials and organizing methods can be sold at greater than their production cost.
b. New market entry through entrepreneur action.
c. The entrepreneur's mental processes in deciding whether or not to act on a potential opportunity.
d. A feasibility assessment.
Q. Which among the following aspects affects an entrepreneur's perception of feasibility?
a. Locus of control
b. Learning style
c. Perceived desirability
d. Self-efficacy
Q. As the venture becomes established and starts growing, which of the following types of experience becomes increasingly important?
a. Technical
b. Financing
c. Managerial
d. Marketing
Q. Intrapreneurship is best described as:
a. the hiring of former Entrepreneurs.
b. Entrepreneurial action within an organization.
c. The process of buying acquiring entrepreneurial firms.
d. The process of hiring consultants to teach a firm how to be more creative.
Q. _____ includes initiative and risk taking, as well as competitive aggressiveness and boldness.
a. New business venturing
b. Self-renewal
c. Innovativeness
d. Proactive Behavior
Q. In regards to the differences between the entrepreneurial and administrative focuses which ofthe following is correct?
a. Entrepreneurs focus on slow steady growth and managers’ focus on rapid growth
b. Entrepreneurs rent or sporadically use resources; managers like to own resources
c. Entrepreneurs are driven by controlled resources; managers by opportunity
d. Entrepreneurs tend to use a hierarchical management structure; managers use a more fluid, flat approach
Q. . Entrepreneurial culture and growth orientation consists of all of the following except:
a. Encouraging employees to generate ideas.
b. Focusing on opportunities.
c. The desire to grow at a slow and controlled pace.
d. Being creative.
Q. All these are characteristics of an entrepreneurial environment except:
a. there is short term horizons.
b. new ideas are encouraged.
c. the organization operates on frontiers of technology.
d. it uses a multidiscipline teamwork approach.
Q. Which of the following is true about corporate entrepreneurship (Inrapreneurship)?
a. Equity in a new venture should not be used as a reward due to its uncertain value
b. A company must be willing to invest money without a guarantee of a return in the short term
c. Teams should be segmented by department
d. Top management should not be involved in the process.
Q. Which of the following is a disadvantage of the 'drafting a traditional business plan' approach?
a. They do not reflect the way in which people shape their entrepreneurial visions.
b. It can be difficult to explain your vision to other people.
c. This approach lacks rigour.
d. The process involved can help an entrepreneur to improve their own understanding
Q. Which of the following are 'drivers' underlying the opportunity business model?
a. Societal, commercial, legal, technological, people
b. Societal, commercial, legal, technological
c. Societal, ethical, commercial, legal, technological
d. Societal, commercial, legal, technological, environmental.
Q. What are the main sources of entrepreneurial opportunity?
a. Personal - entrepreneurs experience or perceive something that others do not.
b. Secondary research - from industry analyses.
c. Primary research - from speaking to potential customers to determine their needs.
d. Observation - of other peoples' experiences with products and services.
Q. Social innovation refers to:
a. the introduction of new social practices, activities or ways of organizing.
b. the introduction of novelties; the alteration of what is established by the introduction of new elements or forms.
c. new designs, processes, marketing approaches, or a new way of conducting training.
d. the means by which entrepreneurs exploit change as an opportunity for a different business or service.
Q. Entrepreneurial opportunities are a particular type of opportunity, which could lead you to create a self-sustaining venture.
a. True
b. False
c. all
d. none