Entrepreneurship And Small Business Management Question Paper

Entrepreneurship And Small Business Management

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2009

KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2009/2010
FIRST SEMESTER EXAMINATION FOR THE DEGREE OF BACHELOR OF
COMMERCE
BBA 310: ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT

DATE: Monday 23rd November, 2009 TIME: 8.00 a.m -10.00 a.m

INSTRUCTIONS

Attempt question one and any other two questions

Write clearly and legibly
QUESTION ONE
Read the case and answer questions that follow.

Kadogo Venture
Saida Kadogo has just completed a course in dress making at Mombasa Polytechnic and
after looking for a job in vain is contemplating starting her own business venture in
Mtopanga. She has no business knowledge and particularly entrepreneurship and this is
giving her sleepless nights wondering how to go about her dream business. Her other
worry has been how and where to get capital to start and run her business and how to be
sure she is getting to the right kind of business. After consulting her friends and especially former college mates who are running their own businesses, she has confirmed her greatest fear that running a business is not bed of roses. However many suggest that Mtopanga has very great potential for many businesses not just dress making as it’s a rapidly growing town. She has also heard about the option of getting finances from the youth development fund and the women fund, but after submitting a viable business proposal.

Required:
a)
As an entrepreneurship consultant, advice Kadogo on how to evaluate her business opportunity to reduce the risks. [ 10 marks]
b)
What are the main sources of business finance? Which one (s) would you advice Kadogo to go for? [10 marks]
c)
The Youth development fund requires beneficiaries to come up with a viable business proposal, what are the key elements of the business plan that Kadogo needs to include in her proposal. [10 marks]

QUESTION TWO
The concept of entrepreneurship is fairly new in areas of academic and research that is
still evolving, creating lots of confusion and misconceptions. Explain ten commonly held
myths and misconceptions of entrepreneurship. [20 marks]

QUESTION THREE
Research findings have indicated that small businesses usually have a very high mortality
rate. Define small business and explain the reasons why many small businesses fail especially in developing countries. [20 marks]

QUESTION FOUR
Due to the high unemployment rates many developing countries have embraced development of micro and small enterprises to promote self employment among the youth. Discuss the concept of self employment and explain with clear examples the benefits and challenges faced by self employed entrepreneurs. [10 marks]

QUESTION FIVE
One of the challenges facing Kenya government in promoting entrepreneurship and self employment is promotion of an enterprise culture.
a)
What is an enterprise culture? How can the government of Kenya promote enterprise culture? [10 marks]
b)
What are the qualities of a good business idea? [10 marks]

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