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UGRD-ITE6301-2033T

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TECHNOPRENEURSHIP

Week 1-2: The Foundations of Entrepreneurship

Week 2-3: Inside the Entrepreneurial Mind: From Ideas to Reality

Week 3-4: Designing a competitive business model and building a solid strategic plan

Week 5: Prelim Examination

Week 6-7: Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Week 8-9: Forms of Business Ownership

Week 10: Midterm Examination

Week 11: Franchising and the Entrepreneur

Week 12-13: Buying an Existing Business

Week 14: Final Examination

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UGRD-GE6300-2033T
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VC-ITE6301-2033-SEC01-2033T

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UGRD-ITE6301 Technopreneurship

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UGRD-ITE6301-2033T

Week 10: Midterm Examination

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Question 1

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Question text

Which of the following is/are the main forms of business  organization?

Select one:

Partnership

Ltd liability company

all of the choices

Sole proprietor

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 2

Correct

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Question text

Advantages of economic scale are not present and the capital requirements to enter are low.

Select one:

Rivalry

Buyers

New Entrants

Suppliers

Feedback

Your answer is correct.

The correct answer is: New Entrants

Question 3
Correct

Mark 1.00 out of 1.00

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Question text

Which of the following is not a disadvantage of sole proprietorship?

Select one:

none of the choices

Limited managerial expertise

Unlimited liability of the owner for debts

Difficulty in raising capital

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 4

Correct

Mark 1.00 out of 1.00

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Question text

which of the following is/are the Elements of a Business Plan?

Select one:

Competitor Analysis

all of the above

Marketing Strategy

Description of the Firm’s Product or Service

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 5

Correct

Mark 1.00 out of 1.00

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Question text

The company’s target markets and the benefits its product or service will provide.

Select one:

Executive Summary

Business and Industry  Profil

Business Strategy

Marketing Strategy

Feedback

Your answer is correct.

The correct answer is: Executive Summary

Question 6

Correct

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Question text

Description of production process, strategic raw materials,  sources, costs.

Select one:

Description of Product or  Service

Business and Industry  Profile

Executive Summary

Business Strategy

Feedback

Your answer is correct.

The correct answer is: Description of Product or  Service

Question 7

Correct

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Question text

Two or more companies form an  alliance to pursue a specific project, usually for a specific time period.

Select one:

franchises

joint ventures

Cost and complexity of formation

stockholders

cooperatives

Feedback

Your answer is correct.

The correct answer is: joint ventures

Cost and complexity of formation

Question 8

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

which of the following is/are the Elements of Marketing Strategy?

Select one:

target market

Pricing

Distribution

all of the above

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 9

Correct

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Question text

Company’s general business goals and the company’s immediate objectives.

Select one:
Business and Industry  Profile

Marketing Strategy

Business Strategy

Executive Summary

Feedback

Your answer is correct.

The correct answer is: Business and Industry  Profile

Question 10

Correct

Mark 1.00 out of 1.00

Flag question

Question text

which of the following is/are the Elements of a Business  Plan?

Select one:

all of the above

Pro Forma Financial Statements

Plan of Operation
Description of Management Team

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 11

Correct

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Question text

Quality _____ products are not readily available and the prices of which are not lower.

Select one:

substitute

Rivalry

suppliers

buyers

Feedback

Your answer is correct.

The correct answer is: substitute

Question 12

Correct

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Question text

Existing or anticipated profitability of the industry.

Select one:

Business Strategy

Marketing Strategy

Business and Industry  Profile

Executive Summary

Feedback

Your answer is correct.

The correct answer is: Business and Industry  Profile

Question 13

Correct

Mark 1.00 out of 1.00

Flag question
Question text

 Why would a new business venture choose to operate as a partnership?

Select one:

a.

Availability of capital

b.

Ease of formation

c.

Diversity of managerial expertise

d.

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 14

Correct

Mark 1.00 out of 1.00

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Question text

Which of the following is not an advantage of sole proprietorship?

Select one:

Ease and low cost of formation

Owner’s rights to all profits

none of the choices

Owner’s absolute control of the  business

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 15

Correct

Mark 1.00 out of 1.00

Flag question

Question text

which of the following is/are the Elements of a Business  Plan?

Select one:

all of the above

Business Strategy

Business and Industry Profile

Company History
Feedback

Your answer is correct.

The correct answer is: all of the above

Question 16

Correct

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Question text

Overview of industry or market segment.

Select one:

Business Strategy

Business and Industry  Profile

Executive Summary

Marketing Strategy

Feedback

Your answer is correct.

The correct answer is: Business and Industry  Profile

Question 17

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

A legal entity with an existence and life  separate from its owners, who  therefore are not personally
liable for  its debts.

Select one:

limited liability company

partnership

franchise

sole proprietorship

Feedback

Your answer is correct.

The correct answer is: limited liability company

Question 18

Correct

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Question text

Formed by people with similar interests, such as  customers and suppliers.

Select one:
cooperatives

franchises

joint ventures

Cost and complexity of formation

stockholders

Feedback

Your answer is correct.

The correct answer is: cooperatives

Question 19

Correct

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Question text

Choose a form of organization by evaluating _____ .

Select one:

The aims and objectives of the various business

the taxes
all of the choices

The desire of how to/not to share profits

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 20

Correct

Mark 1.00 out of 1.00

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Question text

Which of the following is not an advantage of sole proprietorship?

Select one:

Relative freedom from  government regulation

none of the choices

Absence of special taxes

Owner’s rights to all profits

Ease of dissolution

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 21

Correct

Mark 1.00 out of 1.00

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Question text

Number of competitors is large or few (less than 5).

Select one:

Buyers

Suppliers

Rivalry

New Entrants

Feedback

Your answer is correct.

The correct answer is: Rivalry

Question 22

Correct

Mark 1.00 out of 1.00

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Question text

In Limited Partnerships, the dormant partners’ liability is  limited to their investment.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 23

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The qualification of the founders and/or key employees and the key financial highlights.

Select one:

Business and Industry  Profile

Marketing Strategy

Executive Summary

Business Strategy

Feedback

Your answer is correct.

The correct answer is: Executive Summary

Question 24

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The switching costs to competitors is high and their numbers is large.

Select one:

New Entrants

Suppliers

Rivalry

Buyers

Feedback

Your answer is correct.

The correct answer is: Buyers

Question 25

Correct

Mark 1.00 out of 1.00

Flag question
Question text

The combination of 2 or more firms to form a new company, which often takes a new corporate identity.

Select one:

Merger

joint ventures

Acquisition

cooperatives

Feedback

Your answer is correct.

The correct answer is: Merger

Question 26

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Why would a new business venture choose not to  operate as a partnership?

Select one:

Sharing of profits

Difficulty in leaving a partnership

Limited life

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 27

Correct

Mark 1.00 out of 1.00

Flag question

Question text

which of the following is/are the Elements of Marketing Strategy?

Select one:

Location

all of the above

Market Size and trend

Advertising

Feedback
Your answer is correct.

The correct answer is: all of the above

Question 28

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Choose a form of organization by evaluating _____ .

Select one:

all of the choices

The ability to raise funds

Owner’s liability for firm’s debts

The ease and cost of forming the business

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 29

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

Which of the following is/are an advantage/s of Limited Liability company?

Select one:

Ability to deny financing

Limited liability

Stable business life

Ease of transferring ownership

Feedback

Your answer is correct.

The correct answer is: Ability to deny financing

Question 30

Correct

Mark 1.00 out of 1.00

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Question text

Which of the following is/are disadvantage/s of Limited Liability company?

Select one:

Government restrictions and regulations

Stable business life

Double taxation of profits

Cost and complexity of formation

Feedback

Your answer is correct.

The correct answer is: Stable business life

Question 31

Correct

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Question text

An original, functional model of a new  product that entrepreneurs can put into the  hands of potential
customers so they can see it, test it and use it.

Select one:

research

trial
questionnaire

prototype

Feedback

Your answer is correct.

The correct answer is: prototype

Question 32

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The business organization in which a  franchisor supplies the product  concept to the franchisee, who
sells the goods or services.

Select one:

stockholders

joint ventures

franchises

cooperatives

Feedback

Your answer is correct.

The correct answer is: franchises

Question 33

Correct

Mark 1.00 out of 1.00

Flag question

Question text

A written summary of an entrepreneur’s proposed business  venture, its operational and financial
details, its marketing  opportunities and strategy, and its managers’ skills and abilities.

Select one:

Business Plan

Marketing Strategy

Business Strategy

Business Model

Feedback

Your answer is correct.

The correct answer is: Business Plan

Question 34

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

Proving that a profitable market exists by showing customer interest and documenting market claims.

Select one:

Marketing strategy

Business and Industry  Profile

Executive Summary

Business Strategy

Feedback

Your answer is correct.

The correct answer is: Marketing strategy

Question 35

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Why would a new business venture choose not to  operate as a partnership?

Select one:
Unlimited liability for general  partners

Limited life

Potential for conflict between  partners

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 36

Correct

Mark 1.00 out of 1.00

Flag question

Question text

What Lenders and Investors  Look for in a Business Plan?

Select one:

collateral

Conditions

all of the choices

Character

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 37

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The purchase of a corporation by another corporation or investment group.

Select one:

Acquisition

cooperatives

Merger

joint ventures

Feedback

Your answer is correct.

The correct answer is: Acquisition

Question 38

Correct
Mark 1.00 out of 1.00

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Question text

In General Partnerships, each partner can co-own assets and  share profits.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 39

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The company’s business model and basis for  competitive edge.

Select one:

a.

Executive Summary

b.

Business and Industry  Profil

c.

Marketing Strategy
 d.

Business Strategy

Feedback

Your answer is correct.

The correct answer is: Executive Summary

Question 40

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In Limited Partnerships, the dormant partners’ do not participate actively in the  firm’s operations.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 41

Correct

Mark 1.00 out of 1.00

Flag question

Question text
which of the following is/are the Elements of a Feasibility Analysis?

Select one:

Industry and

 Market Feasibility

all of the above

Product or

 Service Feasibility

Financial Feasibility

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 42

Correct

Mark 1.00 out of 1.00

Flag question

Question text

What Lenders and Investors  Look for in a Business Plan?

Select one:

Capacity
Capital

Collateral

all of the above

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 43

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In Limited Partnerships, each partner is controlled by one or more  general partners who have unlimited
liability.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 44

Correct

Mark 1.00 out of 1.00

 Flag question

Question text

They sell a commodity  product to the companies in it.

Select one:

Rivalry

New Entrants

Buyers

Suppliers

Feedback

Your answer is correct.

The correct answer is: Suppliers

Question 45

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Why would a new business venture choose to operate as a partnership?

Select one:
all of the choices

Flexibility to respond to  changing business conditions

Diversity of managerial expertise

Relative freedom from  government control

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 46

Correct

Mark 1.00 out of 1.00

Flag question

Question text

The process of determining  whether an entrepreneur’s idea is  a viable foundation for creating a 
successful business.

Select one:

Feasibility Analysis

Business strategy

Business Plan
Marketing Strategy

Feedback

Your answer is correct.

The correct answer is: Feasibility Analysis

Question 47

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In General Partnerships, each partner is individually liable for all debts and contracts of the partnership.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 48

Correct

Mark 1.00 out of 1.00

Flag question

Question text

which of the following is/are the Elements of a Business  Plan?

Select one:

Title Page and Contents

Vision and Mission Statement

Executive Summary

all of the above

Feedback

Your answer is correct.

The correct answer is: all of the above

Question 49

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Choose a form of organization by evaluating _____ .

Select one:

all of the choices

The ability to attract employees

The degree of operating control the owner can  retain

The taxes

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 50

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Which of the following is not a disadvantage of sole proprietorship?

Select one:

Large personal time commitment

none of the choices

Difficulty in attracting qualified  employees

Unstable business life

Feedback

Your answer is correct.

The correct answer is: none of the choices

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