Enterpreneurship Quiz1

____________ is a radical redesign of the organization's business processes.

• a) Reengineering

• b) downsizing

• c) Bankruptcy

• d) Expanding

A _____________ strategy would be most appropriate for producing high-volume, low-variety products.

• a) Processed-focused

• b) Product-focused

• c) Repetitive Focused

• d) Virtual-focused

A typical inventor is usually _________

• a) Highly creative & in love with the invention

• b) Does not encourage change

• c) Willing to modify the invention in order to augment commercial benefit

• d) None of the given options

If an entrepreneur's business is based on current technology, an uncontrollable risk might be:

.

• a) changes in consumer tastes

• b) new technology developments

• c) the weather

• d) fashion trends

The most common form of organization for a small business is:

• a) partnerships

• b) corporations

• c) sole proprietorships

• d) limited companies

Which of the following is the backbone of financial plan?

• a) Budgeting

• b) Capital

• c) Nature of business

• d) All of the given options

A business center that offers working space and specialized support for new ventures is called:

• a) Isolator

• b) Injector

• c) Incubator

• d) Integrator

If someone starts a new business that is a service station, this is an example of a(n):

• a) New concept/new business.

• b) Existing concept/new business

• c) Existing concept/existing business

• d) New concept/existing business

Kumar Manglam Birla is what type of Entrepreneur?

• a) Founder

• b) Pure Entrepreneur

• c) Technical Entrepreneur

• d) Second Generation Entrepreneur

The _______ plan should contain control points to ascertain progress

• a) Business

• b) Marketing

• c) Operational

• d) Financial