AURORA’S PG COLLEGE
PUNJAGUTTA, HYDERABAD.
MBA I Year II Semester
Subject: ENTREPRENEURSHIP DEVELOPMENT
First Internal Assessment
MULIPLE CHOICE QUESTIONS
1. _____________ are individuals who start and run small businesses, such as local retail stores or
restaurants.
a) Small business entrepreneurs
b) Scalable startups
c) Social entrepreneurs
d) Corporate Entrepreneurs
2. Which of the following best defines entrepreneurship?
a) The process of starting a business with the aim of making a profit
b) The act of investing in established companies
c) The process of conducting market research
d) The process of outsourcing business operations
3. Which of the following is not a characteristic of successful entrepreneurs?
a) Persistence
b) Risk-taking
c) Reliance on luck
d) Vision
4. What term is used to describe the ability to see and seize opportunities?
a) Risk management
b) Proactiveness
c) Resourcefulness
d) Adaptability
5. Who coined the term "entrepreneur"?
a) Adam Smith
b) Joseph Schumpeter
c) Richard Cantillon
d) Peter Drucker
6. Which of the following is not a stage in the entrepreneurial process?
a) Ideation
b) Financing
c) Commercialization
d) Downsizing
7. Which type of entrepreneur starts a business to fulfill a personal passion or interest?
a) Serial entrepreneur
b) Lifestyle entrepreneur
c) Social entrepreneur
d) Corporate entrepreneur
8. What type of innovation involves introducing a new product or service to an existing market?
a) Disruptive innovation
b) Incremental innovation
c) Radical innovation
d) Blue ocean innovation
9. What term refers to the process of transforming an idea into a viable business?
a) Commercialization
b) Diversification
c) Stagnation
d) Acquisition
10. Which of the following is not a common source of funding for startups?
a) Venture capital
b) Crowdfunding
c) Angel investors
d) Government grants
11. What is the term for the legal protection of intellectual property?
a) Copyright
b) Trademark
c) Patent
d) Trade secret
12. Which of the following is not a characteristic of an entrepreneurial opportunity?
a) Scalability
b) Low market demand
c) Timeliness
d) Competitive advantage
13. What term refers to the process of selling a product or service to multiple customer segments?
a) Niche marketing
b) Mass marketing
c) Target marketing
d) Segmented marketing
14. Which of the following is a common reason for entrepreneurial failure?
a) Lack of innovation
b) Overconfidence
c) Limited access to capital
d) Risk aversion
15. What term describes the ability of an entrepreneur to bounce back from failure?
a) Resilience
b) Perseverance
c) Adaptability
d) Optimism
16. Which of the following is a characteristic of intrapreneurship?
a) Ownership of the business
b) Innovation within an existing organization
c) Sole proprietorship
d) High level of risk
17. What term refers to the process of assessing and managing the risks associated with starting a
business?
a) Risk management
b) Risk avoidance
c) Risk mitigation
d) Risk assessment
18. Which of the following is not a type of business model?
a) Subscription-based
b) Franchise
c) Sole proprietorship
d) Freemium
19. What term describes the process of bringing together resources to start and operate a business?
a) Bootstrapping
b) Outsourcing
c) Downsizing
d) Diversification
20. What type of innovation involves making incremental improvements to existing products or
processes?
a) Disruptive innovation
b) Radical innovation
c) Incremental innovation
d) Blue ocean innovation
21. Which of the following is a characteristic of a social entrepreneur?
a) Focus solely on profit maximization
b) Pursuit of social or environmental goals
c) Risk aversion
d) Lack of innovation
22. What term refers to the process of identifying and evaluating potential business opportunities?
a) Opportunity recognition
b) Market segmentation
c) Product differentiation
d) Competitive analysis
23. Which of the following is not a factor influencing entrepreneurial success?
a) Access to capital
b) Market demand
c) Geographic location
d) Luck
24. What term refers to the process of developing a detailed plan for a new business venture?
a) Business model canvas
b) Business plan
c) Strategic plan
d) Marketing plan
25. What type of entrepreneur starts multiple businesses over their career?
a) Serial entrepreneur
b) Lifestyle entrepreneur
c) Social entrepreneur
d) Corporate entrepreneur
26. What is the primary characteristic of an entrepreneur?
a) Risk aversion
b) Innovation and creativity
c) Preference for stable employment
d) Resistance to change
27. Which of the following is NOT a factor affecting entrepreneurial growth?
a) Access to capital
b) Government regulations
c) Entrepreneurial mindset
d) Employee turnover
28. What role does access to markets play in entrepreneurial growth?
a) It has no impact on growth
b) It is a minor factor
c) It can significantly affect growth opportunities
d) It only affects established businesses
29. How can government policies impact entrepreneurial growth?
a) They have no effect
b) They can create favorable conditions for growth
c) They only affect large corporations
d) They hinder growth opportunities
30. Which of the following is NOT a financial factor affecting entrepreneurial growth?
a) Access to venture capital
b) Interest rates
c) Market demand
d) Tax policies
31. What factors significantly influence entrepreneurial growth?
a) Internal factors only
b) External factors only
c) Both internal and external factors
d) None of the above
32. Which of the following is NOT an external factor affecting entrepreneurial growth?
a) Government policies
b) Market demand
c) Entrepreneur's skills
d) Technological advancements
33. Access to capital is crucial for entrepreneurial growth. Which of the following options best
defines capital in this context?
a) Human resources
b) Financial resources
c) Technological resources
d) Physical resources
34. Which type of ecosystem provides resources and mentorship to support entrepreneurial growth?
a) Economic ecosystem
b) Natural ecosystem
c) Startup ecosystem
d) Social ecosystem
35. How do technological advancements impact entrepreneurial growth?
a) They only enable growth
b) They only disrupt growth
c) They both enable and disrupt growth
d) They have no impact on growth
36. What plays a vital role in determining the growth trajectory of a venture?
a) Government regulations
b) Entrepreneur's mindset
c) Market demand
d) Technological advancements
37. Which of the following gives entrepreneurs a competitive edge and drives growth?
a) Innovation and creativity
b) Conformity
c) Stability
d) Resistance to change
38. How do economic conditions influence entrepreneurial growth opportunities?
a) They have no impact
b) They always hinder growth
c) They only create opportunities
d) They create opportunities and challenges
39. Which factor directly impacts entrepreneurial growth by influencing investor confidence?
a) Political stability
b) Market demand
c) Regulatory environment
d) Economic stability
40. What do sociocultural factors influence in terms of entrepreneurial growth?
a) Access to capital
b) Entrepreneurial behavior
c) Government regulations
d) Market demand
41. What is essential for scaling entrepreneurial ventures?
a) Creativity
b) Marketing strategies
c) Financial resources
d) Technological advancements
42. How do legal factors influence entrepreneurial growth prospects?
a) They encourage risk-taking
b) They provide financial support
c) They affect industry regulations
d) They have no impact
43. What skills are crucial for navigating challenges and driving entrepreneurial growth?
a) Technical skills
b) Leadership skills
c) Marketing skills
d) Financial skills
44. How does the availability of physical infrastructure impact entrepreneurial growth opportunities?
a) It has no impact
b) It reduces risks
c) It creates challenges
d) It facilitates growth
45. Which of the following trends shape the landscape for entrepreneurial growth?
a) Localization
b) Globalization
c) Technological stagnation
d) Isolationism
46. Which of the following is NOT an example of a physical resource influencing entrepreneurial
growth?
a) Financial capital
b) Transportation networks
c) Skilled labor
d) Raw materials
47. What should entrepreneurs consider in response to market trends for successful growth?
a) Resist change
b) Ignore trends
c) Adapt and innovate
d) Maintain the status quo
48. Which of the following factors significantly influences entrepreneurial growth?
a) Weather conditions
b) Government policies
c) Entertainment trends
d) Sports events
49. How do technological advancements typically influence entrepreneurial growth?
a) They hinder growth by increasing competition.
b) They have no impact on growth.
c) They facilitate growth by enabling innovation.
d) They only benefit established businesses, not startups.
50. How do government policies typically influence entrepreneurial growth?
a) They support growth by providing incentives and support programs.
b) They hinder growth by imposing regulations.
c) They have no impact.
d) They discourage entrepreneurship.
FILL IN THE BLANKS
1. The ___________brought about a significant shift in the way entrepreneurship was practised.
2. _____________ is the process of starting and running a business venture to make a profit.
3. Entrepreneurship is the process of ______________ a new business venture.
4. Successful entrepreneurs often possess a high level of ______________.
5. Innovation and ______________ are key traits of successful entrepreneurs.
6. ______________ refers to the ability to see and seize opportunities.
7. Entrepreneurs often exhibit ______________, persisting despite setbacks and obstacles.
8. ______________ refers to the process of transforming an idea into a viable business.
9. An entrepreneur who starts a business to fulfill personal passions or interests is called a
______________ entrepreneur.
10. ______________ is the legal protection of intellectual property.
11. A ______________ entrepreneur is one who creates and operates multiple businesses
over time.
12. The process of assessing and managing the risks associated with starting a business is
known as ______________.
13. Access to ______________ is crucial for entrepreneurial ventures to fund growth and
expansion.
14. Intrapreneurship involves fostering innovation and creativity within ______________
organizations.
15. Entrepreneurial ______________ involves making incremental improvements to existing
products or processes.
16. ______________ involves bringing together resources to start and operate a business.
17. The process of identifying and evaluating potential business opportunities is called
______________.
18. A ______________ entrepreneur focuses on achieving social or environmental goals
alongside profit.
19. Government ______________ can create favorable conditions or barriers for
entrepreneurship.
20. A ______________ is a detailed plan outlining the objectives and strategies of a new
business venture.
21. The ability to bounce back from failure is known as ______________.
22. ______________ involves introducing a new product or service to an existing market.
23. Entrepreneurial ______________ involves recognizing and capitalizing on market gaps
or unmet needs.
24. Entrepreneurs often demonstrate a high degree of ______________, adapting to changing
circumstances.
25. Access to ______________ is essential for entrepreneurs to acquire knowledge and skills.
26. A ______________ is a strategic approach to business growth, often involving risk-
taking.
27. ________________ regulations can either facilitate or impede entrepreneurial growth.
28. Access to ________________ is crucial for startups to fund their growth and expansion
plans.
29. Market ________________ greatly influences the growth opportunities available to
entrepreneurs.
30. Favorable ________________ conditions can encourage entrepreneurship and foster
growth.
31. Entrepreneurial growth is influenced by both internal and ____________ factors.
32. The ____________ environment, including government policies and regulations,
significantly impacts entrepreneurial growth.
33. Access to ____________ is crucial for entrepreneurial growth as it facilitates investment
in business expansion.
34. A supportive ____________ ecosystem fosters entrepreneurial growth by providing
resources and mentorship.
35. Technological ____________ can both enable and disrupt entrepreneurial growth.
36. The ____________ of the entrepreneur plays a vital role in determining the growth
trajectory of a venture.
37. Market ____________ and demand fluctuations directly affect the growth prospects of
entrepreneurial ventures.
38. Effective ____________ management is essential for sustainable entrepreneurial growth.
39. Innovation and ____________ give entrepreneurs a competitive edge and drive growth.
40. ____________ conditions, such as economic cycles, influence entrepreneurial growth
opportunities.
41. Access to ____________ resources, such as skilled labor and raw materials, impacts
entrepreneurial growth.
42. ____________ support programs and networks can facilitate entrepreneurial growth by
providing access to funding and expertise.
43. ____________ factors such as culture and social norms influence entrepreneurial
behavior and growth.
44. Effective ____________ strategies are essential for scaling entrepreneurial ventures.
45. ____________ stability and political environment impact entrepreneurial growth by
influencing investor confidence.
46. ____________ factors, such as industry regulations and intellectual property laws, affect
entrepreneurial growth prospects.
47. Strong ____________ skills are crucial for navigating challenges and driving
entrepreneurial growth.
48. The availability of ____________ infrastructure, such as transportation and
communication networks, affects entrepreneurial growth opportunities.
49. Effective ____________ management helps entrepreneurs allocate resources efficiently
for growth.
50. ____________ trends, such as globalization and demographic shifts, shape the landscape
for entrepreneurial growth.
ANSWERS:
1. Industrial Revolution
2. Entrepreneurship
3. starting or creating
4. risk tolerance
5. creativity
6. Entrepreneurial alertness or opportunity recognition
7. resilience or perseverance
8. Commercialization
9. Lifestyle
10. Copyright, trademark, or patent
11. Serial
12. risk assessment
13. capital or financing
14. existing or established
15. innovation or creativity
16. Entrepreneurial capitalization or resource allocation
17. opportunity recognition or opportunity assessment
18. social or sustainable
19. policies or regulations
20. business plan or startup plan
21. resilience or adaptability
22. Market penetration or product innovation
23. opportunity identification or market analysis
24. flexibility or adaptability
25. education or training
26. entrepreneurial venture or business initiative
27. Government or regulatory
28. capital orfinancing
29. demand ortrends
30. economic or market
31. external
32. regulatory
33. capital
34. startup
35. advancements
36. mindset
37. dynamics
38. risk
39. creativity
40. Economic
41. Physical
42. Incubator
43. Sociocultural
44. Marketing
45. Political
46. Legal
47. Leadership
48. Physical
49. Financial
50. Market