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Buss 114: Entreprenuership Question Paper

Buss 114: Entreprenuership

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2011

KENYA METHODIST UNIVERSITY
END OF 3''RD ''TRIMESTER 2011 EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 114
UNIT TITLE : ENTREPRENEURSHIP

TIME: 2 HOURS
Instructions: Answer Question ONE and any other TWO.
Question One

While entrepreneurship has enormous benefits, it is also inhibited by a number of drawback. Describe FIVE drawbacks you would associate to entrepreneurship development in Kenya.
(10 Marks)

Distinguish between entrepreneurship and entrapreneurship.
(5 Marks)

During site visits to different small business in your county you noticed poor record keeping in business as a common problem. Enumerate FIVE reasons you would use to convince them on the importance of keeping business records.
(5 Marks)
What is the role of government in entrepreneurship development in Kenya?
(5 Marks)
Describe the elements of schumpeturian view as far as entrepreneurship is concerned.
(5 Marks)
Question Two
Describe FIVE sources of finance for small business enterprises and show the disadvantages of each source.
(10 Marks)

Giving relevant illustrations, explain the possible reasons why people leave paid employment to launch their own businesses.
(5 Marks)
Describe the economic theory to entrepreneurial behavior and motivation.
(5 Marks)
Question Three
Briefly explain the meaning of the following concepts/terms as used in entrepreneurship.
(5 Marks)
Sole proprietorship
Craft entrepreneurship
Entrepreneurial motivation
A Business plan
Invention
Discuss FIVE key considerations in deciding on the location of a premises best suited for a small business.
(5 Marks)

Show if entrepreneurs are born or made?
(5 Marks)
Question Four
Customer relationships drives business. What tactics would you employ to attract and retain people who believe in the services of your small business?
(10 Marks)

Explain the difference between a small business and an entrepreneurial venture.
(5 Marks)
Compare and contrast a business manager and an entrepreneur.
(5 Marks)
Question Five
Explain FIVE advantages and five disadvantages of franchising as a business start-up strategy.
(10 Marks)

With well illustrated examples, describe any FIVE ways/techniques you would use to come up with business ideas.
(5 Marks)
Why should an entrepreneur implement a business idea immediately.
(5 Marks)

Buss 114: Entreprenuership Question Paper

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