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Buss 114: Entreprenuership Question Paper

Buss 114: Entreprenuership

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2010

FACULTY : BUSINESS AND MANAGEMENT STUDIES
DEPARTMENT : BUSINESS ADMINISTRATION
TIME : 2 HOURS
INSTRUCTIONS Answer Question ONE and any Other TWO Questions

Question 1
a) There is no doubt that the difficulty of financing small businesses is one of the most frequently heard complaints. Discuss the reasons why there is this (10marks) b) Unlike other investors, entrepreneurs are extra ordinary people. Distinguish between entrepreneurs and business persons clearly showing the attributes that makes entrepreneurs different. (10marks)
c) Discuss five reasons why some business plans fail. (10marks)

Question 2
a) In Kenya there are more business persons and few entrepreneurs. As a result many businesses are alike resulting to unfair competition. Discuss how entrepreneurial culture can be inculcated to Kenyans. (10marks)
b) Discuss ten reasons for the rapid growth of SMEs in the 21st Century (10marks)

Question 3
Entrepreneurs find it more important to start something that is unique and rare as compared to business persons who just imitate what has been done. Discuss the various ways used by entrepreneurs to generate an enterprise idea. (20marks)

Question 4
a) Running a business without keeping records is like driving a car without a fuel gauge. Discuss (10marks)
b) Of what socioeconomic role is the jua kali sector in Kenya today? (10marks)

Question 5
a) Discuss reasons why an entrepreneur should comply with the legal requirements of the industry (10marks)
b) A successful entrepreneur should aim at motivating his/her employees in order to leap maximum benefits from them. Explain 5 major ways through employees can be motivated. (10marks)

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