Thanks for lling out End Semester examination: Basics of

Entrepreneurship
Here's what we got from you:

End Semester examination: Basics of

Entrepreneurship
Time: 2 PM to 8 PM (Six hours)
Marks: 60
Section 1: MCQ type 10 marks (1 mark for each question)
Section 2: Write definition type 20 marks (2 marks for each question)
Section 3: Long Answer type (6 marks for each question)

This is an open book test.

You can refer all possible sources of information and present best answers..
You are also allowed to discuss among yourselves.

But copying each other's answers will be a serious offence..

Email address *

shreya3231@gmail.com

1) Innovation theory of Entrepreneurship is propounded by *

E. E. Hagen

Joseph Schumpeter

Max Weber

Richard Cantillon
2) Selling goods and services through a network of distributors is known as *

Freelancing

Multilevel Marketing

Strategic Marketing

Digital Marketing

3) Which of the following is/are the functions of an entrepreneur? *

Risk taking

Identifying opportunities & prospects

Innovation

all of these

4) Innovative type of entrepreneurs are found in specially *

Asian countries

African countries

Western countries

European countries

5) Which of the following is not franchising business? *

Amul Outlet

KFC

Amway

Monginis
6) An entrepreneur is someone who assumes the major risks of a new business
by commi ing which of the following? *

Equity

Time

Career

All of these

7) Which of the following is a reason why a person might prefer to purchase a

franchise rather than open a completely new business? *

Higher failure rate

increased independence

ability to benefit from previous experience

reduced royalty fees

8) Which of the following is /are risks for entrepreneurs in small business? *

Interference with personal lives

Psychological stress

social and family pressure

All of the above

9) Elon Musk is one of the greatest innovators in the last 30 years. He.. *

Co- founded Paypal

Founded the company SpaceX

Co- founded Google

 Founded the company Tesla

10) Which is not one of the reasons sta ups typically fail? *

Run out of cash

No business model

Poor marketing

Market demand

De ne the following

Total Marks: 20 (2 Marks each)

1. Franchise

A license or approveness given to a person or a group have access to a business's proprietary

knowledge and trademarks in order to allow the person or group to sell a product or provide a
service under the business's name.

2. Digital Marketing

Digital marketing is the use of the Internet, social media, search engines, and other to reach
consumers.

3. Innovation

The process of translating an idea or invention into a service that creates value for which

customers will pay.

4. Intrapreneur

They are internal employees using entrepreneurial skills and thinking to find initiatives that
could benefit the company or organisation.
 5. Pro t

It is financial gain one receives from business.

6. Price

A value given to any product or commodity manufactured by company.

7. LLP

It's Limited Liability Partnership allows partners like traditional partnership

and extends its assets but has limited liability.

8. Sta -up

A newly founded company by entrepreneur to develop or provide a service by implementing

young ideas.

9. Multi-level Marketing

It is a system for selling goods and services through a network of distributors.

10. Inquisitiveness

Curiousness regarding some questions or ideas.

Long answer type question

Total Marks: 30 (6 Marks each)

Solve any five
1) Wow! Momo is a quick service food chain that serves large variants of delicious
momos and Chinese cuisine in a dine-in, delivery and takes away format. A er
Corona Pandemic the popular of Momos being a Chinese cuisine decline. Give
some point wise suggestion to regain the popularity and business of Wow
Momos.

Instead of having a large franchise some small type franchises should be provided for serving
home made momos under same brand name so that many areas can serve them in small
radius.

2) Being as a Digital Marketer; describe some innovative marketing strategies for a

Matrimonial site.

Experiences, stories and images of past customers who had tied knot with their partners
through the same site can be shared.

3) Enlist the essential skills and qualities of an entrepreneur to be successful in 21st

century.

Risk taker
Leader
Responsibility taker of any situation
Maintaining harmony among the group
Never getting disappointed by failure
A good speaker as well as influencer
Motivator for himself/herself as well as others
Quality of addressing the market need as well as appropriate time

4) Share your views on Jio’s Marketing strategy.

Jio mostly addresses it's middle class customers and acts accordingly.
It keeps consumers engaged in its latest as well as exciting offers.
It provides quality services for small as well as large offers.

5) Why most of the sta ups fail to sustain?

I think one reason can be lack of patience. Many entrepreneurs stop trying after first failure.
Next reason can be lack of financial knowledge and also handling financial gains or losses.
 Lack of observation of market need,hastiness in implementing ideas,improper marketing,
failing to prove the features and convincing the importance of product to customers can also
be most of the reasons.

6) Discuss challenges and oppo unities of National Education Policy 2020.

Challenges
Adopting it efficiently.
Implementing it in all schools effectively.
Acceptance of teachers and students.
Training teachers for it.
Opportunities
All round development of students.
Reduction in school and college mafiasim.
Understanding and learning mother tongue.
Getting out of old propaganda and introducing something new to students and many more...

7) How will you decide the pricing of your product?

Considering the cost spend on its production.

Keeping in mind the Labour work cost.
Depending on the quality of product provided.
Learning the price of other products available in the market.
Imagining the effect of price on its middle class customers.

Create your own Google Form