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Entrepreneurship Skills Question Paper
Entrepreneurship Skills
Course:Diploma In Leadership And Management
Institution: Strathmore University question papers
Exam Year:2008
1
STRATHMORE UNIVERSITY
FACULTY OF COMMERCE
Diploma in Leadership and Management
END OF SEMESTER EXAMINATION (FULLTIME COURSE)
DLM 2201: ENTREPRENEURSHIP SKILLS
DATE: 11th August, 2008 TIME: 2 Hours
INSTRUCTIONS: ANSWER QUESTION ONE AND ANY OTHER TWO
QUESTIONS.
QUESTION ONE (20 marks)
(a) What is a business plan? (2 marks)
(b) A local entrepreneur has approached you with a request to assist him prepare a
business plan for a venture which he launched five years ago, but has not been
running very well due to lack of proper planning. Name and explain any four of the
key elements of a business plan that you would advise him to incorporate in the plan.
(8 marks)
(c) As a business venture grows, the entrepreneur’s role changes from that of a manager
to one of an advisor. This means he needs to delegate the management function to his
top management team. Citing examples, discuss four properties of a good top
management team. (8 marks)
(d) What selection criteria would you advise the entrepreneur to use in selecting the top
management team? (2 marks)
QUESTION TWO (20 marks)
(a) Name and explain any four factors that encourage entrepreneurs to pursue international
market opportunities (8 marks)
(b) Name and explain any three barriers to international trade. (6 marks)
(c) Describe three advantages and three disadvantages of a sole proprietorship
(6 marks)
QUESTION THREE (20 marks)
In order to build a strong and long lasting business organization, the entrepreneur needs to
ensure that he has adequate financial resources to use as and when required. Name and
discuss any four sources of finance for the entrepreneur. (20 marks)
2
QUESTION FOUR (20 marks)
(a) Define a corporation (2 marks)
(b) What are the four steps of the corporation’s formation procedure (2 marks)
(c) Discuss four advantages and four disadvantages of a corporation (8 marks)
(d) Name and explain the four steps of a market research. (8 marks)
QUESTION FIVE (20 marks)
(a) What is a business risk? (4 marks)
(b) As an entrepreneur what measures would you put in place in order to
minimize the effect of theses risks? (6 marks)
(c) Name and describe five major reasons for the failure of new ventures (10 marks)
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