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Entrepreneurship Question Paper

Entrepreneurship

Course:Cpa Part I

Institution: Orbit School Of Management Studies question papers

Exam Year:2006

ENTREPRENEURSHIP

2006.
Answer any FIVE questions.

QUESTION ONE

Goal-setting is of importance to all types of organizations.

a. List four characteristics of sound goals (4mks)

b. Explain the significance of organizational goals (16mks)

QUESTION TWO

a. In relation to competition, differentiate between the following sets of terms:

i. Brand competition and industry competition (4mks)

ii. Form competition and generic competition (4mks)

b. Summarize the strategies that an entrepreneur can employ in order to cope with competition (12mks)

QUESTION THREE

a. List the essential features of a valid contract. (10mks)

b. Technology includes machinery, equipment, processes, work layout, methods, systems and procedures used to convert inputs to outputs.

Describe the sources of information available to an entrepreneur on existing technology. (10mks)

QUESTION FOUR.

Business firms often need to restructure their operations in response to changes in the business environment.

In relation to the above statement, discuss the measures that business firms may adopt to respond to the changing business environment. (20mks)

QUESTION FIVE

Discuss ways in which the business community may contribute towards the economic development of your country. (20mks)

QUESTION SIX

a. State four factors that influence the demand of a product. (4mks)

b. Describe how a business entity may accurately forecast the demand of a product. (16mks)

QUESTION SEVEN

a. Effective communication is the key element in running a successful business. Discuss. (10mks)

b. Highlight the advantages of using visual presentation as a method of communication. (10mks)

QUESTION EIGHT

In relation to financial record maintained by an entrepreneur, distinguish between the following sets of terms:

a. Capital expenditure and revenue expenditure

b. Fixed assets and current assets

c. Reserves and provisions

d. Trading and profit and loss account; and balance sheet statement.

Entrepreneurship Question Paper

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