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Bbm 208: Entrepreneurship Theory And Concepts Question Paper
Bbm 208: Entrepreneurship Theory And Concepts
Course:Bachelor Of Business Management
Institution: University Of Kabianga question papers
Exam Year:2016
SCHOOL OF BUSINESS AND ECONOMICS.
Department of Marketing, Hospitality and Tourism.
2015/2016 Academic Year
SECOND YEAR SECOND SEMESTER EXAMINATION.
FOR THE DEGREE OF BACHELOR OF BUSINESS MANAGEMENT.
ECO 208:ENTREPRENEURSHIP THEORY AND CONCEPTS.
Instructions: Answer Question ONE and any other THREE.
Section A: Compulsory(25 Marks)
Read the case study and answer the questions that follow.
Stephen and Rose were among the best students in entrepreneurship class in the University of Kabianga. While in the university Stephen was commonly known for doing minor business deals with his colleagues while Rose was the author of a popular column entitled "Kazi ni Kazi" in the University magazine. They claimed that these assignments sufficiently supported their financial obligations. However, when they finished University they had different thoughts and opinions.
After remaining unemployed for some time Stephen approached a relative who lend him Ksh 100,000 to start a security firm in Kakamega town. He is convinced that his business will break- even and grow within a short time unlike those of his friends which closed down after only one year in the same industry. His argument is that since Kakamega town has become an economic hub several people will need security of their businesses and what he only needs is to rebrand those businesses that were being run by his friends and make the services available even to the local shop owners.
Rose who similarly remained unemployed for sometime, felt starting a business would be a risky option and hence chose to be employed as a clerk in a fairly busy organization, where she has now worked for 2 years. In her first year of employment she brought together fellow clerks and they managed to introduce a defect checking system of the raw materials and finished goods as they enter and leave the organization respectively. Through her efforts the organization has since started a business outlet in the neighbouring town.
Required:
1). Who of the two is an entrepreneur? Justify your answer. (6 Marks)
2). Using the case study, discuss the importance of innovative and imitative entrepreneurs in a country. (6 Marks)
3). What are the possible causes of business failure which could have led to the closure of businesses owned by friends to Stephen? (5 Marks)
4). What advantages does Stephen have over Rose? (4 Marks)
5). Advise Stephen on the characteristics of a good business idea. (4 Marks)
Section B: Answer any Three Questions
QUESTION TWO.
a). Discuss the factors you consider in selecting a good business opportunity. (5 Marks)
b). Explain the characteristics of small enterprises and of what importance are they to a country's national development? (10 Marks)
QUESTION THREE.
a). Discuss the commonalities between creativity, innovation and entrepreneurship. (5 Marks)
b). Business environment is key to the growth and survival of any business enterprise. Discuss. (10 Marks)
QUESTION FOUR
a). Discuss five reasons why entrepreneurs and small firms have difficulties in accessing finance for start up and expansion. (5 Marks)
b). Describe the theories that have embraced entrepreneurship culture. (10 Marks)
QUESTION FIVE
a). Discuss five reasons why planning is important to an entrepreneur.(5 Marks)
b). Explain four ways in which the government contributes to the development of entrepreneurship. (10 Marks)
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