May 2022
4. From the following, choose the incorrect sentence about the procurement. (1 Mark)
A) Good procurement processes can facilitate coordination with the supplier and Improve
forecasting and planning.
B) The goal of procurement is to enable orders to be placed and delivered on schedule at the
lowest possible overall cost.
C) Procurement can lead to higher level of inventory
D) Procurement is the process of obtaining goods and services within a supply chain.
[Ans. : C]
2. is. someone who attempis to edvaiice a social agenda in addition to formal job role as part
ofa corporation. (1 Marky
‘A) Business entrepreneurs B) Active partners
©) Buyers D) Corporate social entrepreneur [Ans. : D]
3. Following of which is not referred to New entry in Entrepreneurship ? (1 Mark)
'A) Offering a new product an estabished or new market
B) Offering an established product oa new market
C) - Recniting new people in the organization
[Ans. : C]
D) Creating a new organization
‘eurial Jeadersinpredictionlogic andoreationlogicwhilemaking @ decisions, is
4. The ability ofEntrepren
(1 Mark)
knownas
A) cognitive ambidexterity
C) ° Setf-awareness
B) economic responsibilty
D) Social awareness Ans. : Al
Scanned with CamScanner 5, Which of the following is not one of the adva
Venture.
A)
B)
c)
d)
6. Which ofthe folowing is not true for a marketing plan?
Established customer base at prosentfocation
Experienced employees
Inventory and equipment at place
[Ans. : by
Potential liability for past business contact
(1 Marly
‘A marketing plan is a more comprehensive document that heavily ‘outlines the marketing ang
A)
advertising efforts of a company.
B) Marketing Plan is shared with the public for the understanding of product or service
C) Marketing plans focus solely on determining how to get your service(s) and/or Product(s) into
‘the hands of the consumers
D) Marketing plans are best used as intemal ‘documents [Ans. : B]
7. Which of the foliowing is true for debt financing? (1 Mari,
A) Does not require collateral and offers the investor some fom of ownership position in the
venture.
1B) Obtaining funds for the company in exchange for ownership
) The investor shares in the profits ofthe venture, as well as any disposition ofits assets
D) Obtaining borrowed funds for the company [Ans. :D]
8. Which of the following is a competitive driver of digital technology adoption? (1 Mark)
‘A) Improving the range and quality of services offered
B) Reduced sales and purchasing costs
©) Reduced operating costs
D) The increasing speed with which supplies can be obtained [ans. A}
is the int tion of the activitie " *
semi pa cameted etstesichtarvoamnes tal
lomers (1 Mark)
‘A) Customer relationship management
B) Employee relationship management
©) Supply-chain management
D) Partner relationship management
Scanned with CamScanner @ entrepreneurship and E-Business (MU) A
Appendi
a.2(A) | Compare Entrepreneur and Manager. (Section 1.4) (5 Marks)
@.2(A) Il. Whyan entrepreneur is unwilling to delegate work? Give five reasons, (6 Marks)
‘Ans?
«Entrepreneurs may be unwilling to delegate work for various reasons. Here are five common
reasons:
4. Control : Entrepreneurs often have a strong vision for their business and a desire to
maintain control over every aspect of its operations. They may feel that delegating work
could lead to a loss of control or compromise the quality of work performed. This desire
for control can make them hesitant to hand over tasks to others.
2. Perfectionism : Many entrepreneurs have high standards and a perfectionistic mindset.
‘They may believe that they are the only ones who can do the work to their desired level
of quality. They may fear that delegating tasks to others could result in mistakes or
subpar outcomes, which can hinder their pursuit of perfection.
3, Lack of trust : Trust plays a crucial role in delegation. Entrepreneurs may struggle to
trust others to perform tasks as effectively or efficiently as they would themselves. They
may have had negative experiences in the past, where delegated work was not executed
to their satisfaction, leading to a reluctance to delegate in the future.
4. Time constraints : Entrepreneurs often have .busy schedules and face numerous
demands on their time. They may feel that it is quicker and more efficient to do the work
themselves rather than invest time in delegating and overseeing someone else's work.
This time constraint can make delegation appear as a less attractive option.
|S. Skill gaps : Entrepreneurs may possess a wide range of skills and expertise that they
have developed over time. They may believe that certain tasks require their specific
knowledge or experience and are hesitant to delegate them to others. They may fear that
others may not possess the necessary skills to handle the task effectively.
* Its important for entrepreneurs to recognize the benefits of delegation, such as increased
productivity, scalability, and personal growth, Overcoming these barriers to delegation can
help entrepreneurs focus on strategic activities, leverage the capabilities of their team, and
ultimately achieve greater success in their business ventures.
@.2(A) iL. Explain the business plan and its divers, (Sections 3.4 and 3.4.1) ( Marks)
@.2(8) L.. Whatis CRM? Explain functional areas of CRM. (Sections 6.1 and 6.1.2) (10 Marks)
Q.2(B)'- Il.” Whatis Technology adoption? Explain the steps to be taken for technology adoption.
Scanned with CamScanner Appendix 4°
WEntrepreneurship and E-Business (MI
‘Ans, : Steps to Successful Technology Adoption
: chnologies into al
© ‘Technology adoption : The acceptance and Integration of new fe i ay
rent of brand-new ones are referred t0 a5 technology
existing systems or the’ develop! cllest extent possible whi
adoption in’ business.tt involves utilizing technology to th
making adjustments to meet changing consumer needs.
Jd to select what technology you want,
. : technology, you'll nee
Selection : Before you adopt new technology, ¥' identify which technology bes
This phase should include a needs analysis so you can best
solves your business problems.
* Planning: Once you've selected your technology, you'll need to make a plan for how to
implement it. Review your infrastructure, staff, and processes and see how they'll need to
change as you adopt the new technology, .
© Communicating: Communication is one of the most critical aspects of change management,
‘This is more of an ongoing need than a phase, but it’s essential at the beginning of a project
Start communicating frequently as you start the adoption process, so people are informed
and prepared for the change.
© Training : You'll also need to train people on how to use the new technology. You should plan
for how to train before launch and how you'll continue training people in the post-
implementation phase.
* Testing and Deployment: When you're ready to start rolling out your new technology, you
can start with a smaller group or department. This beta group can test the technology,
processes, and training. You can use what you learn from this group to make changes before
rolling out to the entire organization.
© Expansion : Once you've tested your new technology, you can begin rolling it out
companywide.
* Monitoring : You'll want to make sure you monitor your progress and use the right tracking
toolsto track the right technology adoption metrics to quickly identify issues. Once you
fdentify problems, you can start the process over again by planning for how to solve the
challenge and then going through the remaining steps to implement the changes.
©.3(A) | Which are the tree principles of entrepreneurial leadership? (Section 2.8) (6 Marks)
.3(A) IL Which are the disadvantages of he acquistion ofan established Business Venture?
(Section 3.2.3) ee 6 Marks)
.3(A) Ii Whatis he diference between Incubators and Accelerators? Give sib) ra ‘
fans. incubation and acceleration arén't the same. Ineub
= ators it
businesses by helping them convert thelr ideas into businesses, Aecslarune fencer’ AB i
accelerate already running businesses that have some potential SStOfs: on the orien hay
ae
Scanned with CamScanner ‘Entrepreneurship and E-Business As :
Appendi
incubator .
startup incubators help new entrepreneurs flesh out their bu:
with the following resources ~
o° Infrastructure
: isiness ideas by Providing them
o Networking
o Financial advisory/ Intellectual property teams/ Legal advisory
o Contacts for potential investors
o Manufacturing
‘Initial financial support
o. Training and guidance.
Incubators help them convert their business idea into a successful business with a pioper
business model.
Accelerator
« Astartup accelerator or business accelerator help early-stage startups in becoming successful
and accelerating their growth by providing them with structured guidance. This guidance is
usually taken from the practices followed by other successful ventures and moulded to fit the
current startup and help boost their growth and sales.
* Apart from the structured guidance, accelerators also provide businesses and startups with —
‘© Resources focused on achieving increased growth within a short span. This includes
infrastructure, mentorship, semninar, and workshops
© Funding in exchange for equity in the company
© Legal guidance
© Networking opportunity
: Incubators Accelerators
Purpose Mentorship and long-term focus _| Structured guidance
Working Flexible and over a longer period | Shorter and well-defined timelines
Timeframe, | of time
Joining»: a Focused Restricted
Usually provided |
Usually for-profit; funded by established
businesses and corporations
Raising Funds | Not the main focus
profit; funded by
and. academic
Funded By Usually not-for-}
government
institutions = WH eamectetet
Scanned with CamScanner es
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