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Buss 221: Introduction To Entrepreneurship Question Paper

Buss 221: Introduction To Entrepreneurship

Course:Education

Institution: Kenya Methodist University question papers

Exam Year:2013

KENYA METHODIST UNIVERSITY
END OF 1''ST ''TRIMESTER 2013 (SCHOOL BASED) EXAMINATIONS
FACULTY : EDUCATION AND SOCIAL SCIENCES
DEPARTMENT : EDUCATION
UNIT CODE : BUSS 221
UNIT TITLE : ENTREPRENEURSHIP
TIME : 2 HOURS

Instructions:
Question One
Entrepreneurship is the dynamic process of creating incremental wealth by individuals who assume the major risks in terms of equity, time and career commitment.
Enumerate any ten (10) importance contributions of entrepreneurship towards national development.
(10mks)
Briefly state any five personal characteristics, and five business characteristics of potential entrepreneurs.
(20mks)
Question Two
All entrepreneurs are business people but not all business people are entrepreneurs. Entrepreneurs tend to be more innovative than just ordinary business people as they have more than one business plan.
Highlight any ten (10) means of generating a business idea. (10mks)
Briefly explain the specific problems faced by small enterprises in Kenya.
(10mks)
Question Three
When a small business applies for a business loan, a bank or other lender follows certain protocol when evaluating the application. Explain the 5c’s of credit analysis the bank uses to evaluate the application for a loan. (20mks)
Question Four
Define the term ’business plan’
(4mks)
Outline the sixteen (16) elements of a good business plan.
(16mks)
Question Five
Discuss the challenges facing entrepreneurs in Kenya.
(12mks)
Outline the elements of a a good record keeping as applied in entrepreneurship.
(8mks)

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