CAPE Entrepreneurship 2017 U1 P2

TEST CODE 02160020
FORM TP 2017198 MAY/JUNE 2017
CARIBBEAN E XAM I NAT I O N S COUNCIL
CARIBBEAN ADVANCED PROFICIENCY EXAMINATION®
ENTREPRENEURSHIP
ENTREPRENEURIAL THEORY
UNIT 1 – Paper 02
2 hours and 45 minutes
READ THE FOLLOWING INSTRUCTIONS CAREFULLY.
1. This paper consists of SIX mini-case scenarios, TWO from EACH module. Answer
ALL questions.
2. Write your answers in the spaces provided in this booklet.
3. Do NOT write in the margins.
4. If you need to rewrite any answer and there is not enough space to do so on the
original page, you must use the extra lined page(s) provided at the back of this
booklet. Remember to draw a line through your original answer.
5. If you use the extra page(s) you MUST write the question number clearly in
the box provided at the top of the extra page(s) and, where relevant, include
the question part beside the answer.
DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO.
Copyright © 2016 Caribbean Examinations Council

All rights reserved.
02160020/CAPE 2017
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INSTRUCTION: Read EACH mini-case and answer the questions that follow.
MODULE 1: ENTREPRENEURIAL MINDSET
Case 1: Life’s Journey
Ikeela, a social worker, sought employment overseas as it was difficult to find work in her homeland. Her
desire was to help herself and family, especially her mother. A friend told her of opportunities in Canada.
She went online, applied and got a job catering to people with developmental disabilities. Ikeela expected
challenges, given the cultural differences. However, she persisted and was optimistic that things would
work out well, if she worked hard. She developed a clear strategy as to what she would do. She knew that
working in Canada would not allow her to fulfil her broader vision of owning a social enterprise which
would take care of disadvantaged youths. Her plan was to use this opportunity to get a better understanding
of the business area, develop a useful business plan, and learn how to manage and work with people of
diverse backgrounds in the service sector.
1. (a) Using evidence from the case, explain why Ikeela would be considered a strategic thinker.
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[3 marks]
(b) Identify from the case THREE other characteristics of an entrepreneur displayed by Ikeela.
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[3 marks]
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02160020/CAPE 2017
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(c) Explain any THREE factors that Ikeela should consider if she wants to be successful in
her business.
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[9 marks]
Total 15 marks

02160020/CAPE 2017
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Case 2: An Agro-preneur’s (Agricultural Entrepreneur) Dream
Damien always wanted to own an agriculture enterprise. He thought that he should go to school to
understand how to farm and start the venture upon graduating. While at school, he realized that he had
to do courses in entrepreneurship and he questioned their relevance. He was taught that he must know
the business in depth, understand how to operate financials and manage people, develop business plans
and, most importantly, know his own strengths and weaknesses. He had initially thought that being an
entrepreneur would only require knowledge on how to plant and reap. He believed that success was
primarily determined by how new and good the idea is, luck, money to start the venture, and the ability
to take the risk to start the business even in the face of challenges.
2. (a) From the case, explain THREE myths of entrepreneurship that Damien should be aware
of when carrying out his venture.
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[9 marks]
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(b) List FOUR types of entrepreneurs.
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[4 marks]
(c) Outline the type of entrepreneur which would BEST describe Damien if he started a
business immediately after graduation.
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[2 marks]
Total 15 marks

02160020/CAPE 2017
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MODULE 2: THE ENTREPRENEURIAL PROCESS
Case 3: Food Security
Pedro, a Brazilian, migrated to Guyana to try and fulfil his dream of owning and operating a freshwater
fish farm. Although he had some of the resources, he was in need of land, marketing and sales expertise
and access to distribution channels. Even though he has some experience managing farms in Brazil, he
knew that if he could access production facilities and the requisite licences, he could get the financing to
operationalize the venture. He planned to leverage the resources he had to access capital from internal or
external sources. With these required resources, Pedro knew that he would be much closer to fulfilling
his dream.
3. (a) Explain why it is important for Pedro to secure marketing, sales and management expertise.
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[9 marks]

02160020/CAPE 2017
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(b) Outline from the case the TWO sources from which Pedro can access capital for his
farm.
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[4 marks]
(c) Identify TWO sources of business concepts that Pedro can use to help him focus on what
the business will offer in the fishing industry.
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[2 marks]
Total 15 marks

02160020/CAPE 2017
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Case 4: From Mona to Kingstown
Villete is a graduate of the College of Science and Innovative Technology and holds a BSc in Chemistry.
After completing her studies, she returned home to St Vincent to establish a soap manufacturing company,
similar to those she saw in Kingston, Jamaica. She noticed that the age distribution of the St Vincent
population was changing. Additionally, with new industry guidelines, there would be new demands for
goods and services that fit within these guidelines. There were also now more efficient ways of making
products and delivering services. She knew that in implementing the venture she would need to pay back
financiers, reinvest and subsequently expand the business. These priorities, she thought, would require
consistent monitoring and evaluation of the business.
4. (a) Identify from the case TWO sources of opportunities for this venture.
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[2 marks]
(b) Outline TWO sources of opportunities which are not mentioned in the case.
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[4 marks]

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(c) Explain why Villete would think it was important to pay back resource providers, reinvest
in the venture and eventually expand and grow the business.
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[9 marks]
Total 15 marks

02160020/CAPE 2017
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MODULE 3: CREATIVITY AND INNOVATION
Case 5: Leveraging Innovation
Prakash was considered to be very innovative from the time he was in high school, so he established a
consultancy which supports businesses with innovation challenges. When clients ask him for advice on
sources of innovation, he usually tells them to look at how consumption patterns are changing, new ways
of doing things and whether there are changing restrictions on how to do things. He argues, however,
that in order for innovation to thrive, it needs to be nurtured and managed within the venture. This means
providing incentives for innovation, developing a good internal policy that supports innovation, and
promoting an organizational culture of innovation.
5. (a) State THREE sources of innovation which are implied in the case.
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[3 marks]

02160020/CAPE 2017
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(b) Explain why EACH of the THREE sources stated in (a) are considered sources of innovation.
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[8 marks]

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(c) Outline the importance of EACH of the following:
Providing incentives for innovation
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Implementing good internal policy

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[4 marks]
Total 15 marks

02160020/CAPE 2017
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Case 6: Safety First
Freida always dreamt of making a difference in the lives of less fortunate people through innovations. Her
idea was to develop innovations that radically shift the way people do things or they change things one
step at a time. She knew, however, that innovations should be protected. She thus sought advice from
the Intellectual Property Office on the options that are available to her. She was advised that depending
on the kind of innovation, there were several approaches that she could explore.
6. (a) From the case, outline the TWO core innovation concepts that Freida was most interested
in applying.
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[4 marks]

02160020/CAPE 2017
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(b) Explain the terms ‘branding’, ‘copyrights’ and ‘patents’.
Branding: ............................................................................................................................
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Copyrights: ..........................................................................................................................
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Patents: ...............................................................................................................................
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[9 marks]

02160020/CAPE 2017
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(c) State TWO other ways NOT mentioned in (b) by which Freida could protect her ideas or
innovations.
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[2 marks]
Total 15 marks
END OF TEST
IF YOU FINISH BEFORE TIME IS CALLED, CHECK YOUR WORK ON THIS TEST.
02160020/CAPE 2017

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TEST CODE 02160020

FORM TP 2017198 MAY/JUNE 2017

CARIBBEAN E XAM I NAT I O N S COUNCIL

CARIBBEAN ADVANCED PROFICIENCY EXAMINATION®

2 hours and 45 minutes

READ THE FOLLOWING INSTRUCTIONS CAREFULLY.

2. Write your answers in the spaces provided in this booklet.

3. Do NOT write in the margins.

DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO.

Copyright © 2016 Caribbean Examinations Council

DO NOT WRITE IN THIS AREA

MODULE 1: ENTREPRENEURIAL MINDSET

Case 1: Life’s Journey

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

DO NOT WRITE IN THIS AREA

.............................................................................................................................................. DO NOT WRITE IN THIS AREA

(b) List FOUR types of entrepreneurs.

business immediately after graduation.

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

Case 3: Food Security

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

Case 5: Leveraging Innovation

DO NOT WRITE IN THIS AREA

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

Providing incentives for innovation

Implementing good internal policy

DO NOT WRITE IN THIS AREA

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

Case 6: Safety First

GO ON TO THE NEXT PAGE

DO NOT WRITE IN THIS AREA

DO NOT WRITE IN THIS AREA

GO ON TO THE NEXT PAGE

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