Establishing And Managing Small Business(Entr 331) Question Paper

Establishing And Managing Small Business(Entr 331)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2010

TIME : 2 HOURS
INSTRUCTION Answer Question ONE (compulsory) and any Other TWO Questions

Question 1
a) Outline the key elements of a business plan and breify discuss why it is important for a business to address the critical risk factors . (8marks)
b) According to Alex Asborne, there is one tool an entrepreneur can use to help identify new opportunities. Discuss. (7marks)
c) What is feasibility analysis? Is it important for a new enterprise to locate near similar firms in its industry? (7marks)
d) Identify the four primary components of a firms business model and describe the importance of each component. (8marks)

Question 2
a) Define bootstrapping and discuss how entrepreneurs can apply it in their firms (10 marks) b) Discuss 4 major strategies for growth that an entrepreneur can use to grow the enterprise. (10marks)

Question 3
A growing enterprise exerts alot of pressure on the entrepreneur. Discuss the process of recruiting new employees and how to motivate them (20marks)

Question 4
a) Describe how entrepreneurs can ethically avoid legal disputs. (10marks)
b) With the aid of a well drawn diagram, discuss the process of financial management. (10marks)

Question 5
a) Discuss 10 ways in which lenders and investors add value to a new firm. (10marks)
b) Describe 5 intellectual properties needed by an entrepreneur to avoid ownership infrigement (10marks)

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