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Bcom 401: Entrepreneurship Question Paper

Bcom 401: Entrepreneurship

Course:Bachelor Of Commerce

Institution: Chuka University question papers

Exam Year:2013

UNIVERSITY EXAMINATIONS
FOURTH YEAR EXAMINATION FOR THE AWARD OF
DEGREE OF BACHELOR OF COMMERCE

BCOM 401: ENTREPRENEURSHIP

STREAMS: BCOM Y4S1 TIME: 2 HOURS

DAY/DATE: WEDNESDAY 7/8/2013 2.30PM – 4.30 PM

INSTRUCTIONS:

ANSWER QUESTION ONE AND ANY OTHER TWO QUESTIONS

1. Allan, a friend of yours has always had a nagging desire to be his own boss. He has a good job with reputable organization in the city but has several ideas for new products that he cant get his employer interested in and would wish to start his own business. He is however, not sure whether he should quit and start his own company or stick with his employer.

Required:

(a) What advice would you give to Allan and what does he require to be successful if
he was to start his own business. [10 Marks]

(b) Identify at least four sources of business ideas and explain the criteria that can be used for screening to ensure the idea represents a good business opportunity.
[12 Marks]

(c) What are the benefits and drawbacks of owning a small business? [8 Marks]

2. (a) Describe the concept of entrepreneurship as an agent of change and as a force of
creative destruction as explained by Carl Menger and Joseph Schumpeter respectively. [10 Marks]

(b) Discuss the steps that can be taken to enhance entrepreneurship and small business ownership in the country. [10 Marks]

3. (a) One of the myths associated with entrepreneurs is that entrepreneurs are born and not made. In reference to the supply and demand theories of entrepreneurs, discuss this myth. [10 Marks]

(b) Describe what is involved in each stage of the creative process. [10 Marks]

4. Recent research indicates a very high failure rate among the SME’s. Discuss factors contributing to the failure and provide practical solutions to minimize the failure rate. [20 Marks]

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Bcom 401: Entrepreneurship Question Paper

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