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Entrepreneurship Skills Question Paper

Entrepreneurship Skills

Course:Bachelor Of Business Information Technology

Institution: Strathmore University question papers

Exam Year:2009

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STRATHMORE UNIVERSITY
FACULTY OF INFORMATION TECHNOLOGY
Bachelor of Business Information Technology
END OF SEMESTER EXAMINATION
BCM 4212: ENTREPRENEURSHIP SKILLS (EC)
DATE: 19th August 2009 TIME: 2 Hours
Instructions: Please attempt question ONE and any other TWO questions.

Question One: Case study- AccessKenya Group launches lifestyle portal
AccessKenya Group, Kenya’s first publicly listed ICT company and leading Corporate
Internet Service Provider, has launched a lifestyle portal in Kenya, dedicated to providing
Kenyan information on the Internet, so that Kenyans can do more, see more and be more in
Kenya.
AccessKenya now leads the market as the provider of residential Internet connections, but
until now there have been no more than a few sources of information on the WorldWideWeb
giving truly Kenyan information.The new information website for Kenya’s home Internet
users, branded as @Home in Kenya is on www.home.co.ke.
Speaking in Nairobi during the launch, AccessKenya Group Managing Director, Jonathan
Somen said “@Home in Kenya portal is the newest and best place to reach individuals
looking for lifestyle information in Kenya. @Home in Kenya will be the first locally
generated content portal to identify and cater specifically to the fundamental need for lifestyle
information.”
With articles being added daily and an online monthly newsletter on lifestyle tips ranging
from health and beauty, house and garden, food, shopping, travel and tourism, entertainment
events and information on Kenya - business and history, the website is expected to become a
primary resource web site for finding information in Kenya.
The @Home in Kenya Portal will provide news of the latest events, fashions and best-buys in
town; deep data on how to travel, what there is to see, the activities you didn’t know about;
the low-down on what shaped Kenya’s history, recipes if you’re stuck for tonight’s dinner
party, and a straight line to where to get the right ingredients to make them, be it in Lavington
or South B, C.
Mr. Somen said the launch of the portal was motivated by the increasing need by the public
to have readily available information on Kenyan lifestyle. “With 3 million Kenyan internet
users, it’s time to have our own information and content on the Web instead of relying on
foreign generated facts, figures and features.”
Somen added that the portal is an initiative under the Access@Home brand, AccessKenya’s
residential broadband and it will play a strategic role in pushing sales of the Group’s existing
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products. “The more you give people what they want in terms of local content, the more they
will want to get connected, even at home. The arrival of the fibre optic cable soon will enable
more Kenyans to access the Internet hence the need to provide more and better content for
them,” said Somen. The portal is a joint venture by AccessKenya headed by Petra Somen and
Jenny Luesby, of African Laughter.
Jenny Luesby, managing editor of www.home.co.ke, said: “Our goal is to be the best home
lifestyle guide for both locals and visitors to Kenya, offering news and information on the
kind of lifestyle now blossoming in the country. Each month, the site will be driven by an
editorial theme, be it on love and relationships, the environment, religion, history, or
politics”.
@Home in Kenya is an initiative by a top team of Kenyan journalists and researchers and
will be dynamic by incorporating the members’ views and suggestions.
“As membership in the new website grows, and people become aware of its existence,” Ms.
Luesby explained, “we should be able to see the differences almost on a daily basis - changes
as suggested by our members and implemented by our editorial team.” “This is a dynamic
project, which is as the Internet needs to be.” He added.www.itnewsafrica.com/
(a) What, from this case, would make AccessKenya appear to be a modern company?
(3 marks)
(b) “With 3 million Kenyan internet users, it’s time to have our own information and
content on the Web instead of relying on foreign generated facts, figures and
features.” Discuss. (2 marks)
(c) From the case, it is indicated that the portal is a joint venture by AccessKenya headed
by Petra Somen and Jenny Luesby, of African Laughter. Define a joint venture as a
form of business and identify its advantages and disadvantages. (3 marks)
(d) The venture of AccessKenya is a new innovation. Why is it necessary for a company
to be innovate in its business? (2 marks)
(e) What do you consider to be drivers of innovation in any industry? (3 marks)
(f) What should AccessKenya do to ensure their new product succeeds in the market and
improves the overall financial position of the company? (2 marks)
(g) Discuss any 2Ps of marketing noticeable in this case (2 marks)
(h) In what three ways can a company maintain customer loyalty? (3 marks)
Question Two
(a) An entrepreneur is a person in possession of a business who uses four main factors of
production that is, capital, labour, and enterprise to produce or offer a service at a fee
and assumes the inherent risks of the business. Discuss these factors of production.
(6 marks)
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(b) Financial constraints deny entrepreneurs opportunities to venture into business. Identify
for institutions that potential entrepreneurs could approach for funding. (4 marks)
(c) The concept of business incubation emerged in the 1980s as a way of developing young
entrepreneurs.
i) What is the rationale behind incubation? (5 marks)
ii) Identify activities involved in the incubation process (5 marks)
Question Three
(a) Identify the benefits of entrepreneurship to the entrepreneur and to a country.
(10 marks)
(b) Why should governments support entrepreneurship among citizens? (4 marks)
(c) How would a government support entrepreneurship initiatives in a country (6 marks)
Question Four
In setting up of business, an entrepreneur has three main options, that is, joining family
business, buying an existing business, or setting up a totally new business.
(a) Discuss the advantages and disadvantages of joining family business (6 marks)
(b) What advantages would an entrepreneur enjoy by buying an existing business?
(4 marks)
(c) Why should one carry out a detailed analysis of an existing business before purchase?
(4 marks)
(d) Explain the steps you would follow to set up a new business. (6 marks)
Question Five
(a) Entrepreneurs require funding for any of their projects to take off. Identify and discuss
any four sources of funding for new entrepreneurs. (6 marks)
(b) Why is it necessary for an entrepreneur to maintain good customer service for his/ her
customer? (4 marks)
(c) Research shows that most new businesses fail in the first two to three years. Discuss
three reasons for such high failure rate? (6 marks)
(d) When pricing products/ services, what four considerations does one need to make?
(4 marks)

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