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End Of Stage 2 Exam-Diploma 2 Entrepreneurship Education Question Paper

End Of Stage 2 Exam-Diploma 2 Entrepreneurship Education

Course:Diploma In Clothing Technology (Clothing Technology)

Institution: Machakos University question papers

Exam Year:2011

Time: 2 1/2 hours
Answer all questions

1.(a) Define the following terms
i.Self employment
ii.Entrepreneurship
iii.Paid employment
iv.Business opportunity (5 Marks)
(b) Discuss how the business community contributes to the development of the local economy?(10 Marks)
(c)Entrepreneurs do not just sit and wait for profits but have some roles to play as individuals in their business.(10 Marks)

2.(a) All successful entrepreneurs have common characteristics which are behind their success. Discuss any five characteristics of an entrepreneur.(10 Marks)
(b)Business venturing is "risk taking" how much does that phrase hold?
Describe briefly. (10 Marks)
(c) With relevant examples state five factors which leads to business closure. (5 Marks)

3.a Pogita has won a Jack pot. He is in the process of starting a business. Advise him on some considerations which he must bear in mind before identifying a viable business opportunity(10 Marks)
(b)the rewards in business comes from beating out the competition and the best way to do that is to know they are and how they operate.Advise Pogita on the process of coping with competition.(10 Marks)

4. Mama Diana owns a business which manufactures clay cooking pots. Of late her sales have declined. The demand for cooking pots has shifted from clay to metal cooking pots. Mama Diana has thought of changing her products from clay to metal but she requires a lot of money to purchase the new machinery.
(a) Advise Mama Diana on THREE methods she can use to make the right decision.(9 Marks)
(b) Give a brief explanation on the process Mama Diana should have gone through in arriving at the decision to change from clay pots to metal cooking pot.(11 Marks)

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