Entrepreneurship MCQs with Answers Part # 7

May 1, 2023 Entrepreneurship 329 Views

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Entrepreneurship MCQs with Answers Part # 7

Questions 301 to 350

301. The ______________ plan shows whether the business is economically easible or not.

Financial

Business

Technical

Marketing

Correct! Wrong!

302. Japanese term “Kaizen” is close to ______________

Product innovation

Process innovation

Business model innovation

None of the above

Correct! Wrong!

303. Which of the following can be a source of curiosity?

Use of Social Media

5 G Mobile Technology

Packaging wastages

All of the above

Correct! Wrong!

304. What is convergent thinking?

The process of creating many solutions to one problem.

The process of routine solutions to many problems.

The process of coming up with a logical, single best solution to a problem

The process of coming up with a logical solution to several problems.

Correct! Wrong!

305. What are the different types of assumptions to be validated in an experiment designed in: I) Need II) Technical III) Positioning

Only (i) and (ii)

Only (ii) and (iii)

Only (i) and (iii)

All (i) , (ii) and (iii)

Correct! Wrong!

306. A set of reasons for engaging in a particular behavior, especially human behavior is known as ______________:

Values

Vision

Entrepreneurship

Motivation

Correct! Wrong!

307. Which of the following is correct?

Incubators are used for getting initial funding for startups.

Incubators are used for getting mentorship for startups.

Both (a) and (b) are false.

Both (a) and (b) are correct.

Correct! Wrong!

308. How does an Organization delivers value?

By knowing what business they are into?

By knowing what the World is doing?

By knowing the politics of their Country.

By understanding the people around.

Correct! Wrong!

309. Looking at things with the innovative and innovation perspective India should be looking at the market growth with reference to products/areas of business/services like:

Energy and Food

Entertainment

Shipping

Financial Management

Correct! Wrong!

310. What is not part of the design thinker's profile?

Empathy

Integrative Thinking

Creativity

Functionality Focus

Correct! Wrong!

311. One of the most important remedies of a business model failure is:

Consistency and Persistence of the organization and the leadership

Market Analysis

Competitor’s Analysis

Product analysis

Correct! Wrong!

312. The importance of intellectual property should be understood by entrepreneur even before ______________

Hiring a manager

Engaging an attorney

Developing a product

Establishing new venture

Correct! Wrong!

313. Which of the following is correct?

Uncertainty about future gives excitement to an innovator.

Prediction disability is a villain in the process of innovation.

Innovation is an adventurous process.

None of the above

Correct! Wrong!

314. Which of the following is not a characteristics of design thinking approach?

Rapid prototyping

Detailed analysis

Faster implementation

None of the above

Correct! Wrong!

315. Which of the following statements is not correct?

Divergent thinking works best for open ended problems.

Divergent thinking involves creativity.

Unlike convergent thinking, there is no single best correct answer in divergent thinking.

The process of divergent thinking is systematic and logical

Correct! Wrong!

276. Which of the following is not a possible assumption to be validated in an experiment designed in the process of innovation?

Women are as hard working as men.

Women are as intelligent as men.

Women are as fearless as men.

All of the above

Correct! Wrong!

317. Which of the following is not correct?

In process of cocreation, customers and solution provider shares value.

In process of cocreation, focus shifts from problem loci to problem space.

Both (a) and (b) are false.

Both (a) and (b) are correct.

Correct! Wrong!

318. How does an organization creates value?

By knowing their customers well

By knowing their employees well

By knowing themselves well

By knowing their successors well

Correct! Wrong!

319. How should India or similar markets look at the future?

On the basis of Needs and Resources.

On the basis of pattern set by the developed markets.

On the basis of the neighboring markets

On the basis of the desire of the entrepreneurs.

Correct! Wrong!

320. Which of the following is/are challenge(s) in the process of innovation?

Fear of failure

Unable to predict

Lack of resources

All of the above

Correct! Wrong!

321. Which of the following is correct?

In present times, the product life cycles are reducing.

In present times, the product life cycles are increasing.

In present times, uncertainty in business environment is reducing.

None of the above

Correct! Wrong!

322. Which of the following is correct?

Innovation starts with creativity.

Innovation begins with curiosity.

Innovation happens accidently.

All of the above

Correct! Wrong!

323. Which of the following is correct?

Maslow proposed a five stage need hierarchy model.

Maslow proposed three stages need hierarchy model.

Maslow divided human behaviour in two categories.

Maslow divided human behaviour in three categories.

Correct! Wrong!

324. In stage of responsibility allocation process the entrepreneur follows?

High centralized decision making process

Highly decentralized decision making process

Somewhat centralized decision making process

No particular standards

Correct! Wrong!

325. Which of the following is not correct?

Cocreation is a process which is used by innovators for getting new ideas.

Cocreation involves participation of customers in the process of solving a problem

Cocreation is possible in services and manufacturing.

None of the above

Correct! Wrong!

286. What is the role of incubator in the process of entrepreneurship?

Incubator provides financial support to start up.

Incubator provides mentorship support.

Incubator provides networking opportunities with venture capitalists.

All of the above

Correct! Wrong!

327. Single largest factor associated with a Business Model Failure is:

Incoherence with the Business Environment

Unavailability of regular banking and finance support

Powerful Competition

Complacency of the Organization and the team

Correct! Wrong!

328. Which of the following is correct?

Japanese manufacturing philosophy focuses on Cost minimization.

Japanese manufacturing philosophy focuses on innovation.

Japanese manufacturing philosophy focuses on quality with minimum cost.

All of the above

Correct! Wrong!

329. Which of the following is important in selection of an idea?

Novelty of idea

Ease of implementation of idea

Impact of idea

All of the above

Correct! Wrong!

330. Which of the following can not be a type of reward for encouraging innovation in your organization?

Putting a poster mentioning your achievement alongwith your photograph on main notice board of the company

Giving you a Cash prize of Rs1 million

Giving you a promotion to some different department or location

None of the above

Correct! Wrong!

331. Which of the following is correct?

All ideas leading to innovation must go through the process of incubation.

All ideas leading to innovation must develop a prototype.

Both (a) and (b) are false.

Both (a) and (b) are correct.

Correct! Wrong!

332. The development of a new venture based on an inventor’s work often requires ______________

Expertise of an entrepreneur

Heavy investment from financers

Skilled Human resources

Highly educated staff

Correct! Wrong!

333. Which of the following is correct?

“naïve perception” helps in improving our ability to see more things around us.

“naïve perception” helps in improving our ability to implement the idea.

“naïve perception” helps in creating harmonious environment for innovation.

All of the above

Correct! Wrong!

334. Which of the following is not a characteristics of frugal innovation?

Reducing complexity of a product

Removing nonessential features of a product

Reducing cost of a product

Improving quality of a product

Correct! Wrong!

Click Below for more Entrepreneurship mcqs with answers:

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Entrepreneurship MCQs with Answers Part # 7

301. The ______________ plan shows whether the business is economically easible or not.

302. Japanese term “Kaizen” is close to ______________

303. Which of the following can be a source of curiosity?

304. What is convergent thinking?

305. What are the different types of assumptions to be validated in an experiment designed in: I) Need II) Technical III) Positioning

306. A set of reasons for engaging in a particular behavior, especially human behavior is known as ______________:

307. Which of the following is correct?

308. How does an Organization delivers value?

309. Looking at things with the innovative and innovation perspective India should be looking at the market growth with reference to products/areas of business/services like:

310. What is not part of the design thinker's profile?

311. One of the most important remedies of a business model failure is:

312. The importance of intellectual property should be understood by entrepreneur even before ______________

313. Which of the following is correct?

314. Which of the following is not a characteristics of design thinking approach?

315. Which of the following statements is not correct?

276. Which of the following is not a possible assumption to be validated in an experiment designed in the process of innovation?

317. Which of the following is not correct?

318. How does an organization creates value?

319. How should India or similar markets look at the future?

320. Which of the following is/are challenge(s) in the process of innovation?

321. Which of the following is correct?

322. Which of the following is correct?

323. Which of the following is correct?

324. In stage of responsibility allocation process the entrepreneur follows?

325. Which of the following is not correct?

286. What is the role of incubator in the process of entrepreneurship?

327. Single largest factor associated with a Business Model Failure is:

328. Which of the following is correct?

329. Which of the following is important in selection of an idea?

330. Which of the following can not be a type of reward for encouraging innovation in your organization?

331. Which of the following is correct?

332. The development of a new venture based on an inventor’s work often requires ______________

333. Which of the following is correct?

334. Which of the following is not a characteristics of frugal innovation?

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