Q.

1
A ------ is the result of an entrepreneurs dream of something that does not exist yet and the ability to paint a compelling picture of
that dream for everyone to see.
A

Mission

Vision

Hallucination

Creation

Q-2

For an entrepreneur, a clearly defined vision

Provides direction

Determines Decisions

Motivates People

b and c only

a, b and c

Q-3

A ----- is a road map of the actions an entrepreneur draws up to achieve a companys mission goals and objectives.

idea

plan

strategy

ideology

Q-4
---------------------- is the practice of gathering, organizing, and disseminating the collective wisdom and experience of a companys
employees for the purpose of strengthening its competitive position.

Strategic management

Knowledge management

Tactical management

Market management

None of the above

Q-5
-------- involves developing a game plan to guide a company as it strives to accomplish its mission, goals and objectives, and to keep it
on its desired course.

Dynamic management

tactical management

Strategic management

None of the above

Q-6

--------- is a factor with a strong influence on a firms costs and can be asset or activity based

Finance driver

cost driver

market driver

price driver

all of the above

Q-7
For a business plan, the ------- evaluates a companys position reletive to its customers and managements ability to create a company
that will gain an edge over its rivals.

value test

competitive test

reality test

management test

Q-8
-------- are controllable valuables that determine the reletive success of market participants. The key to unlocking the success of
competing successfully In a particular market segament.

milestones

secret factors

key success factors

market factors

none of the above

Q-9
In the three generic strategy options, ------------- strategy is which the company selects one or more customer segments in a market,
identifies customers special needs, wants, or onterests, and then targets them with the product or service designed specifically for them.
A

cost leadership

focus

differentiation

critical

none of the above

Q-10

Enterpreneurs test their business models on a --------- before committing serious resources to launch a business that might not work

large scale

medium scale

small scale

extensive scale

none of the above

Q-11

PESTEL analysis involves ------------------------ market factors

political, environmental, scientific, techonological, economic and legal

political, environmental, social, technological, ecologic and legal

political, environmental, social, technologicalm economic and land

political, environmental, social, technological, economic and legal

Q-12

For industry and market feasibility analysis the two key areas of focus are

determining global market

determining how attractive an industry is overakk as a home for a new business

identifying possible niches a small busines can occupy profitability

a&b

b&c

q-13 For a business plan, the ----------- process that a market really does exist for your product or service and that you can actually build or
provide it for the cost estimate in the plan.
A

value test

competitive test

reality test

management test

none of the above