Practice Test

Q1) The main objective of business planning is to provide and implement the _________ business plan. Show Answer

Q2) Formal and systematic business planning must include these types of elements _______ Show Answer

Q3) Strategic plan formulate the effective management concentrates on opportunities and threats in __________ Show Answer

Q4) Strategic planning includes strategic management which implement the following strategic processes: I. Envrionmental scanning II. Strategy formulation III. Strategy implementation IV. Evaluation and control Show Answer

Q5) Environment scanning applies to both-_______ scanning processes. Show Answer

Q6) External environmental scanning accounts the _____________ Show Answer

Q7) The internal environmental scanning includes ____________ Show Answer

Q8) _________ is a detailing process in the mission, objectives, strategies and policies Show Answer

Q9) ___________ is the process of conductiong programs (activities needed to accomplish a plan), budgets (cost of the program), and procedures (sequence of steps needed to do the job). Show Answer

Q10) __________ defines how to operate in practice to implement action and monitoring plans what are capacity needs, how resources are to be used, how risks are to be dealt with and how substainability of the project's achievement is ensured. Show Answer

Q11) Which of the following British economists briefly touched upon the concept of entrepreneurship, though they referred to it under the broad English term "business management"? Show Answer

Q12) The necessity of entrepreneurship for production was first formally recognized by ______ in 1890. Show Answer

Q13) The necessity of entrepreneurship for production was first formally recognized by Alfred Marshall in _________ Show Answer

Q14) In his famous treaties Principles of Economics Marshall asserts important factors of production as: I. Land II. Furniture III. Labour IV. Capital V. Building VI. Organization VII. Plant & Machinery Show Answer

Q15) ___________ claims that the abilities of entrepreneur are "so great and so numerous that very few people can exhibit them in all in a very high degree". Show Answer

Q16) _____________ suggests that the process of innovation is actually of spontaneous "undeliberate learning". Show Answer

Q17) Emtrepreneurship may be classified as: _______________ Show Answer

Q18) According to Peter Drucker, entrepreneurship is ______________ Show Answer

Q19) Which of the following is needed to grow the entrepreneurship? Show Answer

Q20) Entrepreneur should have access to ____________ Show Answer

Q21) Entrepreneurship should always ready to accept the __________ Show Answer

Q22) Employees relate to which of the following? Show Answer

Q23) Business plans are only for start-up companies, it is a ____________ Show Answer

Q24) Entrepreneurship work for ___________ Show Answer

Q25) Which of the following is not the characteristic of entrepreneurship? Show Answer

Q26) An entrepreneur's primary motivation for starting a business is __________ Show Answer

Q27) The ___________ plan should contain control points to ascertain progress. Show Answer

Q28) Market innovation refer to __________ Show Answer

Q29) Concept of entrepreneurship was referred as _________ by British economists. Show Answer

Q30) What is full form of LDC? Show Answer

Q31) In India, which sector provides more job opportunities than any other sector? Show Answer

Q32) Which two work environments should be good for spawning the new enterprises? Show Answer

Q33) The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing: Show Answer

Q34) Which of the following are constraints to operational planning? Show Answer

Q35) What is the logical order for stages of development in entrepreneurial firm? (i) Corporate; (ii) Start up; (iii) Established; (iv) Seed stage; (v) Early growth Show Answer

Q36) In SWOT analysis the 'O' stands for ________ Show Answer

Q37) In the PESTEL framework for environmental analysis what does the letter S stand for? Show Answer

Q38) Assessment of competitive rivalry does NOT include an understanding of :______ Show Answer

Q39) The advantages of competition rivalry are: ____________
Show Answer

Q40) Ongoing scanning at an almost unconscious level is- Show Answer

Q41) Identify incorrect statement Show Answer

Q42) When an entrepreneur introduces a new product or service to meet the need of old market it is called- Show Answer

Q43) When firm successfully engages in mergers and acquisitions it is called- Show Answer

Q44) The document which summarizes the optional and financial objectives of a business and contains the detailed plans and budget showing how the objectives are to be realized is called- Show Answer

Q45) Which of the following executes strategy into everyday executions tactics Show Answer

Q46) To leverage upon the extraordinary talent pool of the potential entrepreneurs, it is essential to create the right environment by ensuring that- Show Answer

Q47) Increase in supply or productivity of factor such as financial, labour and material is called- Show Answer

Q48) Changes in the size of composition of market is called- Show Answer

Q49) Identify which of the following statement is true.
(W) Leibenstein claims that the dominant, necessary characteristics of entrepreneurs is that they are gap-fillers
(X) Kirzner suggests that the process of innovation is actually of spontaneous “undeliberate learning”.
(Y) Kinght claims that an entrepreneur will be able to bear the risk of new venture if he believes that there is a significant chance of profits.
(Z) Marshall, however, implies that people can be taught to acquire the abilities that are necessary to be an entrepreneur. Show Answer

Q50) Environmental scanning is the first step of ______. Show Answer

Q51) "What to achieve and till when is explained by " _____. Show Answer

Q52) Strategy implementation involves- Show Answer

Q53) Conversation of strategic goals into managed execution is termed as _____. Show Answer

Q54) The role of entrepreneur is that of a innovator this was claimed by - Show Answer

Q55) The concept of creative imitation is mostly used in : Show Answer

Q56) Which of these is not a type of entrepreneurship ? Show Answer

Q57) For ______ time is money. Show Answer

Q58) An entrepreneurs has to face which of these challenges - Show Answer

Q59) Changes in production process is also referred as - Show Answer

Q60) Growth is _____ while expansion is _____. Show Answer

Q61) ______ is the process of conversation of strategies goals into managed execution. Show Answer

Q62) Which of the following is a basic type of Entrepreneurship. Show Answer

Q63) The factor which determines the mental attitude towards work and the desire to acquire money is called Show Answer

Q64) Borrowing money from the public is a Show Answer

Q65) In case of deficit budget, the cumulative amount borrowed from the public will Show Answer

Q66) Which of the following is not included in the seven trends to be faced by an organisation Show Answer

Q67) The first step to modernization is Show Answer

Q68) The last stop to Modernization is Show Answer

Q69) The basic area of focus for India to utilize its talented pools to generate good entrepreneur is Show Answer

Q70) The formulation of effective management concentration on opportunities and threats in long range plans is called as - Show Answer

Q71) The first stage in the development of Entrepreneurial firm is Show Answer

Q72) The main objective of business planning is to Show Answer

Q73) As per the necessity - based entrepreneurship Show Answer