A new enterprise is influenced by these factors except ……………………

A. Organisational

B. Sociological

C. Social

D. Environmental

All these are personal factors that give birth to a new enterprise and influence how it develops from an
idea to a viable enterprise except ………………………….

A. Job loss

B. Gender

C. Entrepreneur

D. Role Model

All these are organisational factors that give birth to a new enterprise and influence how it develops
from an idea stage to a viable organisation except ……………………..

A. Team

B. Entrepreneur

C. Culture

D. Products

The 10 “Ds” depicts essential characteristics of a successful entrepreneur. Pick the odd one out

A. Decision

B. Dream

C. Details

D. Determination

.
The dreams of an entrepreneur can be attained at any age. However, it is relatively easy to start a
business when you are young, single and without any personal assets. At a young age, the entrepreneur
trade-off …………………………. that comes with age?

A. Optimism

B. Experience

C. Money

D. Energy

The acronym SWOT stands for …………………., ………………………., ……………. and …………………..

A. Strengt, Weakness, Opportunity, Threats

B. Strength, Weakness, Oppotunity, Threats

C. Strength, Weakness, Opportunity, Threts

D. Strength, Weakness, Opportunity, Threats

Timmons Framework for evaluating a business opportunity consist of three fundamental core pillars,
namely ……………………….., ……………………… and …………………………..

A. Opportunity, Uncertainty, Customer

B. Opportunity, Entrepreneur, Uncertainty

C. Uncertainty, Resources, Opportunity

D. Opportunity, Customer, Timing

SWOT-analysis helps an entrepreneur to evaluate an organisations’ ………………………….. and

………………………. features.

A. Internal, External

B. External, Strength

C. Internal, Strength
D. Strength, Threats

The business environment an entrepreneur operates within is divided into three circles. Each circle
displays specific vital characteristics that affect an entrepreneur’s operations. For example, if the
innermost loop is red, the next ring is yellow, and the outermost circle is black. Which of the rings holds
all the elements that are part of the firm’s industry and part of the firm itself?

A. The Red Circle

B. The Yellow Circle

C. The Black Circle

D. None of the above

The business environment an entrepreneur operates within is divided into three circles. Each circle
displays specific vital characteristics that affect an entrepreneur’s operations. For example, if the
innermost loop is red, the next ring is yellow, and the outermost circle is black. Which of the rings
depicts the entrepreneurs’ business environment?

A. The Red Circle

B. The Yellow Circle

C. The Black Circle

D. None of the above

The business environment an entrepreneur operates within is divided into three circles. Each circle
displays specific vital characteristics that affect an entrepreneur’s operations. For example, if the
innermost loop is red, the next ring is yellow, and the outermost circle is black. Which of the rings
displays the highest uncertainty an entrepreneur must bear?

A. The Red Circle

B. The Yellow Circle

C. The Black Circle

D. None of the Above

.
There are …………….. identifiable segments within the macroenvironment.

A. Six

B. Five

C. Four

D. Three

The political and governmental segment of the business environment is the arena in which different
interest groups compete for attention and resources to advance their interests, establish their values,
and achieve their own goals. Therefore, an entrepreneur can analyse such an environment under
………………………….. issues.

A. Two

B. Three

C. Four

D. Five

…………………………. is a type of patent which covers new articles, processes, machines and techniques.

A. Plant Patent

B. Machine Patent

C. Design Patent

D. Utility Patent

…………………………. is the permanent shifts of resources and customers from one sector of the economy
to another.

A. Business Cycle

B. Procyclical Change

C. Cyclical Change
D. Structural Change

A venture that grows and contracts as the economy does is called ……………………………..

A. Countercyclical Venture

B. Procyclical Venture

C. Cyclical Venture

D. Acyclical Venture

Which of the statement justify the differences between pure and process innovation?

A. Pure innovation gives birth to new products whilst process innovation improves on such products.

B. Pure innovation gives a monopoly advantage, whilst process innovation gives a competitive
advantage.

C. Pure innovation gives birth to improved products whilst proves innovation gives a competitive
advantage.

D. Pure innovation is mainly for new organisations, whilst process innovation is often seen in the well-
established organisation.

………………………… analysis pertains to issues as pollution and waste disposal, recycling or usable
materials, protection of wildlife, workplace safety and hazards, and overall quality of life.

A. Sociodemographic

B. Ecological

C. Macroeconomy

D. Competitor

A venture that is unaffected by a business cycle is known as …………………………

A. Countercyclical Venture
B. Procyclical Venture

C. Cyclical Venture

D. Acyclical Venture

The potential for instability, corruption and violence in a country is known as political risk. This critical
variable is classified under which area of political and government analysis?

A. Global and International Issues

B. National Issues

C. Regional Issues

D. Local Issues

According to Ward (2010) ……………………………. is a picture of your company’s future, your inspiration that
informs the framework for all your strategic plan and articulate your dreams.

A. Vision

B. Mission

C. Goal

D. Objectives

All these are characteristics of good vision expect ………………………

A. Makes people happy

B. It inspires people

C. It makes the entrepreneur very competitive

D. It fosters long term thinking

Collins and Porras (1996) classified vision into two sections namely ………………. and ……………….
A. Core Ideology, Core Value

B. Core ideology, Core Purpose

C. Core Ideology, Envisioned Future

D. Core Value, Core Purpose

The vision revolves around skills, resources, incentives and action plans. If an action plan is eliminated
from the organisation, it results in ………….

A. Organisation Confusion

B. Organisation Anxiety

C. Organisation Frustration

D. Organisation false starts

Who defined mission as the unique fundamental purpose that sets a business apart from other firms of
its type and identifies the scope of its operations in product and market terms?

A. Thomson and Porras (1997)

B. Pearce and Robinson (2004)

C. Kazim and Thomson (2004)

D. Porras and Pearce (1997)

……………………… answers the question of how an entrepreneur will get to where they want to be.

A. Vision

B. Mission

C. Goals

D. Objectives

.
……………… is easy to measure since they are generally quantifiable.

A. Vision

B. Mission

C. Goals

D. Objectives

…………………… is long term in nature and difficult to measure.

A. Vision

B. Mission

C. Goals

D. Objectives

According to Scarborough et al. (2009), an entrepreneur should consider these factors carefully before
selecting a form of business expect

A. Tax Consideration

B. Cost of Formation

C. Business future

D. Expenditures

…………………… is the simplest and most popular form of business ownership. An entrepreneur who
pursues such a right enjoys all the profit has complete privacy, and can quickly discontinue the business
anytime.

A. Sole proprietorship

B. Partnership

C. Limited Liability Company

D. Co-Operative