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Theories Of Entrepreneurship Question Paper

Theories Of Entrepreneurship

Course:Diploma In Business Management

Institution: Kca University question papers

Exam Year:2009

UNIVERSITY EXAMINATIONS: 2009/2010
STAGE 1 EXAMINATION FOR DIPLOMA IN BUSINESS MANAGEMENT
BUD 005: THEORIES OF ENTREPRENEURSHIP
DATE: DECEMBER 2009 TIME: 11/2 HOURS
INSTRUCTIONS: Answer Any THREE Questions
QUESTION ONE (20 MARKS)
a) Define the following terms as used in entrepreneurship (5 Marks)
i. Entrepreneurship
ii. Entrepreneur
iii. Business opportunity
iv. Enterprise
v. Contract
b) Mention any five characteristics of a successful entrepreneur (5 Marks)
c) Identify any five major contributions of entrepreneurship in national development (5 Marks)
d) List five sources of business ideas (5 Marks)
QUESTION TWO (20 MARKS)
A news paper advertisement reads as follows
An upcoming products importer wishes to appoint distributors who will be using special mobile fuel distribution vehicles to sell petroleum products all over Kenya. This is a new lucrative petroleum marketing concept with expected high profit margins. The vehicles to be used are custom designed,fitted with tank and pumps and will be used to fuel customer’s vehicles at their area of operation for example at the bus stations, schools, constructions sites etc. successful applicants should be able to purchase the truck and be able to raise minimum premium of Ksh 500,000 to qualify for distribution.
Applicants with proven petroleum selling experience will be given first priority.
As a potential entrepreneur wishing to try this business explain factors you will have to consider before taking decision and how each factor will affect you. (20 Marks)
QUESTION THREE (20 MARKS)
a) Discuss the importance of self employment (6 Marks)
b) What are some of the immediate problems that a new entrepreneur may encounter in starting
and operating a new business? (6 Marks)
c) Explain the importance of business plan to a business and circumstances in which it can be used (5 Marks)
d) List any three types of skills that an entrepreneur should have (3 Marks)
QUESTION FOUR (20 MARKS)
a) Discuss the purpose of a well structured organization structure (6 Marks)
b) Outline the procedure followed in conducting a market survey (6 Marks)
c) What are the factors to consider when choosing a source of business finance? (6 Marks)
d) What is a calculated risk (2 Marks)
QUESTION FIVE (20 MARKS)
a) Outline the procedure for analyzing a risk situation (10 Marks)
b) Explain five internal and five external motivating factors which lead an individual to
entrepreneurship (10 Marks)

Theories Of Entrepreneurship Question Paper

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