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Buss 114: Entreprenuership Question Paper
Buss 114: Entreprenuership
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2010
KENYA METHODIST UNIVERSITY
END OF 1''ST ''2010 (DAY) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : BUSS 114
UNIT TITLE : ENTREPRENEURSHIP
Instructions
Answer Question one and any other two questions
QUESTION ONE
a)The entrepreneurial thought has developed over time. Provide brief contributions by any three (3) scholars that you know of in the development of the entrepreneurship thought. Clearly indicate each one''s views on entrepreneurs and /or entrepreneurship. (9 marks)
b) By making reference to relevant theories provide your understanding of the following: (i) ''entrepreneurs are born’ (ii) ''entrepreneurs are made'' and illustrate your answer with examples. (10 marks)
c) Jane, a fresh IT graduate from KEMU intends to start a business to repair computers. She has found out that she needs an initial capital investment of KSh. 200,000 to fully set up the business. A survey report from a reputable market research house shows that on average each computer is repaired at KSh. 3000 while the unit cost of repair for each computer is Sh1500. The capacity at Jane''s shop can handle 50 computer repairs per month. Further, she intends to take a loan to finance the initial capital (KSh. 200,000) from a bank which only extends loans to small business (similar to Jane''s) that convincingly demonstrates a break even period of at most three (3) months.
Based on your understanding of entrepreneurship, specifically economic feasibility, you are required
to advise Jane fully. (6 marks)
d)Discuss the traits associated with successful entrepreneurs and explain the role of training in
acquisition of these traits (6 marks)
QUESTION TWO
a) Explain what is meant by the term feasibility and point out the criteria to be used when determining the overall feasibility of a business (5 marks) b) Explain at least four intellectual property rights that you know (5 marks)
c) What factors influence creativity and innovation in an organization (5 marks)
d) Identify any two financial risks likely to be faced by the entrepreneur and explain the benefits of analyzing them.
(5 marks)
QUESTION THREE
Sales of company ABC product are declining and the sales manager has been directed to investigate and report to the chief executive. There are unconfirmed reports that not only have the quality of the product deteriorated but also that the price is high. It is further suspected that the marketing effort is wanting. The sales manager has requested you to advice on how to investigate the problem and to report back.
a) Provide a statement for the research problem (2marks)
b) State any three (3) possible specific objectives of the study (4marks)
c) Suppose you recommend a survey and the use of a questionnaire as the research instrument.
Briefly outline three (3) aspects that would make your questionnaire a ''good questionnaire'' (3marks)
d) Provide any three (3) questions that would be included in the questionnaire (3marks)
e) State and briefly explain the contents of the report to the Chief Executive (8 marks)
QUESTION FOUR
a) What do you understand by ''risk'' and ''return'' as applied to entrepreneurship? (4marks)
b) You have been asked to advice a banker who is 57 yrs and has retired, and is currently servicing four loans; two of his children are in school. He has received his benefits and if he pays the loans he will remain with KSh 250, 000. He wishes to start a successful venture. Give all the details of your discussions
(16 marks)
QUESTION FIVE
Critically discuss the various strategies embraced by the government of Kenya to enhance
Entrepreneurship Development. (20 marks)
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