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Entr 543 Small Business Management Question Paper
Entr 543 Small Business Management
Course:Master Of Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2013
KENYA METHODIST UNIVERSITY
SCHOOL OF BUSINESS AND MANAGEMENT
END OF SEMESTER EXAMINATION FOR MASTER IN BUSINESS ADMINISTRATION AUGUST, 2013
UNIT CODE : ENTR 543
UNIT TITLE : SMALL BUSINESS MANAGEMENT & CONSULTANCY
TIME: 3 HOURS
Instructions:
Answer question one and any other three questions.
TV SHOW INSPIRED THE ENTREPRENEUR
Nearly ten years after moving to Nakuru, Simon is on the Verge of becoming a multi-millionaire, thanks to the aggressive approach he took to survive the cut throat competition in the tough hawking business. Simon started his hawking business of selling handkerchiefs and necklaces with Sh2000 as start up which was given to him by his father.
He was making a profit of between Sh500 and Sh600 daily but today he makes Sh150, 000 and Sh200, 000 every month in his new venture. His investment of cleaning and pest Control Company raked in between Sh1.8M and Sh2.4Million a year and has created jobs for more than 50 youths in the Rift Valley.
The benefit of small savings.
"Never ignore the small daily savings that you may be making in any small-scale business. I never borrowed money from the bank to start my business. The Sh10,000 I had saved is what gave birth to my business" says Simon. His savings also enabled him to clear his fees balance of Sh20,000.
Simon acquired a diploma in management and is interested in enroll for a degree course to pursue entrepreneurship.
Simon started his business in 2012, with specialization in toilet and carpet cleaning, fumigation, general house cleaning and supply of detergents, he has won the heart of many customers including big corporate in the town.
Simon was motivated by a TV show aired by NTV that is "Money Matters" business programme. After watching the show was motivated and bought a vacuum cleaner worth Sh7,000 from his savings.
"It was not an easy start but after washing several toilets in town, the word spread and I started receiving orders to wash toilets in banks and offices" Says Simon. His success can be attributed to training of his wonders in-house, proper supervision.
Changing Attitude
Mr. Simon says, changing the attitude of new employees to love their job is an uphill task. Poor use of toilets by customers is another great challenge so only strong-hearted can survive in the businesses. He also cites late pagment by customers and competition is a challenge.
Despite the hurdles Simon aims to grow his company to become the biggest cleaning firm in Kenya in the next ten years. He also plans to branch to real estate to increase his income.
Which theories can be cited from the case, which may have influenced Simon to become an entrepreneur?
(8 marks)
How can Simon tackle the challenges he is facing in the business.
(7 marks)
What may have influenced the growth of the firm?
(5 marks)
What lessons can one learn from the case?
(5 marks)
Question Two
Discuss the relationship between large and small business and how an entrepreneur can benefit from this relationship.
(10 marks)
Using specific examples discuss the political, social and economic roles or small business in the economy.
(15 marks)
Question Three
How can promotion of inter firm Co-operation and networking among small enterprises be a powerful mechanism for helping them overcome their constraints and problems due to their smallness?
(10 marks)
Financial institutions are reluctant to lend to pre-launch situations why? What can an entrepreneur do to increase the willingness of financial institutions to lend in such cases?
(15 marks)
Question Four
Entrepreneurial leadership is though of having essential keys that lead to the success of entrepreneurial firms. Discuss
(15 marks)
Change in an entrepreneurial firm is normal and healthy, and more often than not people tend to resist change. Identify specific reasons for change and why people resist change.
(10 marks)
Question Five
Njoki is an entrepreneur in food processing and needs the services of a specialized consultant. Which areas should she watch out on to prevent client –consultant relationship failure?
(10 marks)
Discuss the role of consultant in a consulting process.
(15 marks)
Question Six
The contract which an entrepreneur and a consultant enter into provides a clear orientation and protects the interests of both parties. Discuss the components of a good contract.
(25 marks)
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