Entrepreneurship MCQs with Answers Part # 6

May 1, 2023 Entrepreneurship 186 Views

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Entrepreneurship MCQs with Answers Part 6

Questions 251 to 300

251. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as?

Ecopreneur

Technopreneur

Intrapreneur

Social Entrepreneur

Correct! Wrong!

252. Venture capital is concerned with:

New project having potential for higher profit

New project of high technology

New project having high risk

All the above.

Correct! Wrong!

253. GATT is established in 1947, under:

German leadership

U.S. leadership

French leadership

U.K. leadership

Correct! Wrong!

254. Having less than 50 percent of equity share in an international venture is called:

Joint Venture

Majority interest

Minority interest

Exporting

Correct! Wrong!

255. The level at which an individual is viewed by society is called:

Financial status

Qualification

Social status

Achievement

Correct! Wrong!

256. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

Idea Stage

Product Planning Stage

Product Development Stage

Test Marketing Stage

Correct! Wrong!

257. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):

Rs. 15 Lakh

Rs. 20 Lakh

Rs. 25 Lakh

Rs. 30 Lakh

Correct! Wrong!

258. Which of the following is alternatively called corporate venturing?

Entrepreneurship

Intrapreneurship

Act of stating a new venture

Offering new products by an existing company

Correct! Wrong!

259. Information regarding all of the following is related to operations, EXCEPT:

Location

Promotion

Raw materials

Labor skills

Correct! Wrong!

260. A Business Model is related to

A way of doing Business

A perspective and a mode of looking at Markets

A mode of transaction

A structure of doing business involving market analysis and planning, revenue model and a plan of interacting with all the stakeholders involved.

Correct! Wrong!

261. Social entrepreneurship can be defined as which of the following?

A process involving the innovative use and combination of resources to pursue opportunities to catalyze change and/or address social needs

Coming up with new solutions to social problems and then implementing them, often on a large scale

An attempt at the creation new social value through the creation of a new enterprise, such as self-employment, creating a new business or nonprofit, or the expansion of an existing social enterprise by an individual, team of individuals or firm'

Any entrepreneurship is Social Entrepreneurship. /All of the above

Correct! Wrong!

262. Strategy Canvass is based on the framework of

Eliminate Raise

Eliminate Raise reduce create

Focus, Divergence and Compelling tagline

Offerings

Correct! Wrong!

263. As a business model

Amazon is same as Uber

Big Basket is same as Big Bazaar

Amway is similar to HUL Shakti

IBM is same as Del Computers

Correct! Wrong!

264. According to the ________________, it can be concluded that firms have a competitive advantage in a market if they offer products of a higher perceived value to the customers and lower relative costs than competing firms.

Red ocean strategy

Analysis of national competitiveness

Blue ocean strategy

Competitive triangle

Correct! Wrong!

265. What is the aim of a strategy canvas?

To avoid red oceans

To move towards uncontested market space

To increase a produce range

To beat competitors on prices

Correct! Wrong!

266. An entrepreneur has an amalgamation of

Thinking Ability, creativity, critical thinking, analytical abilities and originality.

Aptitude for Human Relations.

Communication Skills.

Financial Ability

Correct! Wrong!

267. Which of the following traditional marketing elements do not apply to social entrepreneurship efforts?

Public Relations

Sales Promotion

Marketing mix

None of the above

Correct! Wrong!

268. Which of the following sentences best summarizes the differences between the red and blue oceans strategies?

In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.

Red oceans denote an environment where products are not yet well defined while blue oceans refer to the frequently accessed marketplaces where the products are well-defined, competitors are known and competition is based on price, product quality and service.

Blue oceans are an old paradigm that represents all the industries in existence today while red oceans are those where companies beat competition by focusing on developing compelling value innovations that create uncontested market space.

Red oceans are about avoiding head-to-head competition while blue oceans are about rivals fighting over a shrinking profit pool.

Correct! Wrong!

269. Which of the following is correct?

All innovations are also inventions.

All inventions are also innovations.

Inventions are related to science while innovations are related to social issues.

None of the above

Correct! Wrong!

270. "Recognizing that most of the future processes are going to be affected by blockchain technology", is an example of:

Recognition of waste

Understanding the future wave

Feeling the pain of current users of technology

All of the above

Correct! Wrong!

271. What is the role of technology forecasting in innovation?

It helps in understanding the future application of existing technology.

It helps in understanding the development of new technologies.

It helps in understanding the market of a technology.

All of the above

Correct! Wrong!

272. What is the innovation gap?

An opening that rivals might exploit

The time that elapses between invention and innovation

A nation's lack of inventiveness

An opening that can be exploited by an entrepreneur with a good idea

Correct! Wrong!

273. Which of the following is correct?

Technology is the use of engineering knowledge for wealth generation.

Innovations are scientific inventions.

Innovations are new ideas.

Innovations are old ideas.

Correct! Wrong!

274. "Realizing that solid waste management is poor in India, some reasons were identified. One of the reason is almost zero segregation of waste at source. Waste segregation after collection is a very difficult task." How will you use this observation in challenge book?

Waste of efforts in segregation

Pain of citizens for poor solid waste management

Opportunity to use latest technology for Solid waste management

All of the above

Correct! Wrong!

275. Which of the following is correct?

Science is a systematic way of studying any phenomenon.

Science is all about experimentation.

Science is concerned with explaining things in a rational manner.

All of the above

Correct! Wrong!

276. What is the general shape of a technology life cycle?

S curve

Normal distribution curve

Bell curve

Straight line

Correct! Wrong!

277. According to MSME Act in India, what is the limit of investment in plant and machinery for a micro enterprises involved in manufacturing?

Rs 5 lakhs

Rs.20 lakhs

Rs.25 lakhs

There is no such limit in the act.

Correct! Wrong!

278. Which of the following is not included in the parameters of sustainable development?

Carrying capacity

Inter and Intra-generation equity

Gender disparity and diversity

None of the above

Correct! Wrong!

279. Innovations provide

The primary means for differentiating your product from your competitors'

Higher profit margins

Potential barriers to entry

All of the above

Correct! Wrong!

280. Basic framework of Insights is proposed on the basis of

Contentions

Information

Observation

Connections, Contradictions and Creative Desperation

Correct! Wrong!

281. Which of the examples seem to be associated with Insight and Entrepreneurship.

Clocks

Footwear

Furniture

All the business and products are a resultant of Insight and Entrepreneurship

Correct! Wrong!

282. Monetizing an idea to make money with some method of operations is known to be

Strategy

Scope

Business model

Business system

Correct! Wrong!

283. According to MSME Act in India, what is the limit of investment in plant and machinery for a small enterprises involved in services?

There is no separate classification for service and manufacturing organizations.

It is less than Rs 1 crore.

It is less than Rs 2 crore.

It is more than Rs 10 lakh but less than Rs 2 crore.

Correct! Wrong!

284. "Not-invented-here (NIH) syndrome," "I already known it (IAKI)," "Prove it to me (PITM)," and "How on Earth could my firm possibly do that" are.

Legitimate reasons to maintain a conservative innovation policy

Innovation's worst enemies

Signs of weak management

None of the above

Correct! Wrong!

285. Which of the following describes the totality of the means people employ to accomplish desired tasks?

Innovation

Competitive advantage

Technology

Facilities

Correct! Wrong!

286. Which of the ministry of Government of India deals with matters related to intellectual property?

Niti Aayog

Ministry of Human Resource Development

Ministry of Commerce and Industry

Ministry of Finance

Correct! Wrong!

287. Which of the following is correct?

Knowledge available in patent is available in public domain.

Knowledge available in patent is kept confidential so that it can not be used by others.

Patenting of invention is a big hindrance of use of technology for social welfare.

All of the above

Correct! Wrong!

288. What do you mean by WIPO?

World Intellectual Property Right Organization

World Internet Protection Organization

World Intellectual Protection Organization

World Indicator of Patents Organization

Correct! Wrong!

289. Which of the following is correct?

A Patent is an exclusive right granted for an invention.

Getting patent is a guarantee for a regular income for your invention.

Both (a) and (b)

None of the above

Correct! Wrong!

290. What do you mean by PCT?

Patent Cooperation Treaty

Protection of Copyright Treaty

Patent and Copyright Treaty

None of the above

Correct! Wrong!

291. What is not an essential condition to obtain patent?

Novelty

Non obviousness

Theory development

Industry application

Correct! Wrong!

292. What is the normal life a patent?

10 years

20 Years

25 Years

There is no fixed life.

Correct! Wrong!

293. Which of the following is correct?

A Patent gives universal protection.

A Patent is a territorial protection.

A Patent is specific to an industry.

A patent is specific to an application.

Correct! Wrong!

294. Which of the following is not a form of intellectual property?

Patent

Cash in hand

Geographical Indicator

Correct! Wrong!

295. The typical ______________ has a climate and reward system that favor conservative decision making.

Entrepreneurship culture

Corporate culture

Intrapreneurial culture

None of the above

Correct! Wrong!

296. Which of the following is correct?

Mind-set is the biggest barrier in the process of innovation.

External environment is a major barrier in the process of innovation.

“Many of us feel that innovation is not my cup of tea” – this is a major challenge in the process of innovation.

All of the above

Correct! Wrong!

297. Which of the following is not a characteristics of systems thinking approach?

Point of leverage is to be identified.

It uses concept of silver bullet.

Theory of constraints is best suited for systems thinking.

None of the above

Correct! Wrong!

298. Which of the following is not correct with respect to “concept of challenge book”?

It helps in creating a template for recording various observations.

It helps in getting a readymade list of various problems which require innovative solution.

It is a record of impact created by different innovations.

None of the above

Correct! Wrong!

299. Which of the following is a possible assumption to be validated in an experiment in the process of innovation?

Indian customers would enjoy buying product on line.

Indian customers would enjoy movies depicting India mythological characters.

Indian customers would pay for an email service for high level of data security.

All of the above

Correct! Wrong!

300. Who is not needed in developing participation for innovation in the organizations? i) Role Model ii) Catalyst iii) Investor iv) Customer

Only (iv)

Only (iii) and (ii)

Only (iii) and (iv)

Only (i)

Correct! Wrong!

Click Below for more Entrepreneurship mcqs with answers:

1 to 50, 51 to 100, 101 to 150, 151 to 200, 201 to 250, 251 to 300, 301 to more

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Entrepreneurship MCQs with Answers Part # 6

251. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as?

252. Venture capital is concerned with:

253. GATT is established in 1947, under:

254. Having less than 50 percent of equity share in an international venture is called:

255. The level at which an individual is viewed by society is called:

256. Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?

257. A Micro Enterprise is an enterprise where investment in plant and machinery does not exceed (According to MSMED Act, 2006):

258. Which of the following is alternatively called corporate venturing?

259. Information regarding all of the following is related to operations, EXCEPT:

260. A Business Model is related to

261. Social entrepreneurship can be defined as which of the following?

262. Strategy Canvass is based on the framework of

263. As a business model

264. According to the ________________, it can be concluded that firms have a competitive advantage in a market if they offer products of a higher perceived value to the customers and lower relative costs than competing firms.

265. What is the aim of a strategy canvas?

266. An entrepreneur has an amalgamation of

267. Which of the following traditional marketing elements do not apply to social entrepreneurship efforts?

268. Which of the following sentences best summarizes the differences between the red and blue oceans strategies?

269. Which of the following is correct?

270. "Recognizing that most of the future processes are going to be affected by blockchain technology", is an example of:

271. What is the role of technology forecasting in innovation?

272. What is the innovation gap?

273. Which of the following is correct?

274. "Realizing that solid waste management is poor in India, some reasons were identified. One of the reason is almost zero segregation of waste at source. Waste segregation after collection is a very difficult task." How will you use this observation in challenge book?

275. Which of the following is correct?

276. What is the general shape of a technology life cycle?

277. According to MSME Act in India, what is the limit of investment in plant and machinery for a micro enterprises involved in manufacturing?

278. Which of the following is not included in the parameters of sustainable development?

279. Innovations provide

280. Basic framework of Insights is proposed on the basis of

281. Which of the examples seem to be associated with Insight and Entrepreneurship.

282. Monetizing an idea to make money with some method of operations is known to be

283. According to MSME Act in India, what is the limit of investment in plant and machinery for a small enterprises involved in services?

284. "Not-invented-here (NIH) syndrome," "I already known it (IAKI)," "Prove it to me (PITM)," and "How on Earth could my firm possibly do that" are.

285. Which of the following describes the totality of the means people employ to accomplish desired tasks?

286. Which of the ministry of Government of India deals with matters related to intellectual property?

287. Which of the following is correct?

288. What do you mean by WIPO?

289. Which of the following is correct?

290. What do you mean by PCT?

291. What is not an essential condition to obtain patent?

292. What is the normal life a patent?

293. Which of the following is correct?

294. Which of the following is not a form of intellectual property?

295. The typical ______________ has a climate and reward system that favor conservative decision making.

296. Which of the following is correct?

297. Which of the following is not a characteristics of systems thinking approach?

298. Which of the following is not correct with respect to “concept of challenge book”?

299. Which of the following is a possible assumption to be validated in an experiment in the process of innovation?

300. Who is not needed in developing participation for innovation in the organizations? i) Role Model ii) Catalyst iii) Investor iv) Customer

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