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WorksheetsSemi Final in Entrepreneurial Management
Total questions: 40
Worksheet time: 25mins
A 'business plan' is a
list of annual tasks the business needs to achieve
document that describes the aims and strategies of a business
set of criteria that banks require for businesses to be registered
In the business context, what is a 'brand'?
the practice of marketing a business so that it is recognisable
the symbol associated with a company
the advertising that a business does
Every business venture starts with
capital
an idea
a market
an opportunity
What is the LAST step to be taken by an
entrepreneur in selecting a business
opportunity?
Preparing a business plan
Screening of business opportunity
Evaluating self and the
community
Identifying the needs and wants
of customers
Which of the following is a characteristic
of a business idea?
Always abstract
May look bad at first
Always structured and systematic
Requires more than one person to
generate
The first step in the entrepreneurial
process ESSENTIALLY involves
idea generation
resource mobilization
opportunity identification
business concept utilization
Demographic segmentation strategies
separate potential customers into
age, gender and income
region, city and population
loyalty, product use and culture
lifestyle, social class and
education
Which of the following factors should an
entrepreneur consider MOST when hiring
employees?
Skills and education
Wages, motivation and benefits
Skills, age and education
Performance appraisal, skills and
education
Which of the following are key sources of ideas?
I. Interests
II. Technology
III. Market knowledge
IV. Product knowledge
l and ll only
lll and lV only
ll and lV only
I, II, III and IV
This is the individual or organization selling the franchise.
franchisor
franchisee
Which is a franchisor?
Allows others to use their brand and business for a fee
Takes over a business
Buys into an existing brand
A franchisor offers lots of training to the new franchisee
True
False
A franchisee can operate a business anywhere they want and are not restricted by territory
True
False
Which of these is NOT an advantage of the franchisee
They enter into an existing market
It is usually expensive to buy a franchise
Market research is done by the franchisor
The franchisor provides the franchisee with equipment
the franchisee does not deliver the service properly, the brand name of the franchisor will suffer.
Problems of Inconsistent Quality
Highly Publicized Disputes Between Franchisees and Franchisors
Initial Investment
Difficult in Motivating Franchisees
Who is the person who started a successful business and decided to expand by selling clones of the original business.
Franchisee
Franchisor
Entrepreneur
Businessman
The person who purchase the right to run an extension of the original business
Millionaire
Franchise
Franchisee
Investor
What a Franchisor does?
Gains the benefits of an established brand name or product without the initial risk.
Gets support and materials from the franchisee enterprise
Operates day-to-day operations independently of the franchisor
Establishes a proof of concept with the business
What a Franchisee does?
Gains the benefits of an established brand name or product without the initial risk.
Gets support and materials from the franchisee enterprise
Operates day-to-day operations dependently of the franchisor
Purchases right to franchisee
It is a type of license that a party (franchisee) acquires to allow them to have access to a business's (franchisor) proprietary knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name.
Franchise
Franchisee
Entrepreneur
capita;ist
the ______ usually pays the initial start-up and annual licensing fees.
Franchisee
Franchisor
Franchising
Franchise
the one who is selling his business to the________.
Franchise
Franchising
Franchisor
Franchisee
This is a business strategy for getting and keeping customers.
Franchising
Franchisee
Marketing Strategy
Marketing system
Starting the business is costly
Advantage
Disadvantage
The investment covers you for all opening aspects
Advantage
Disadvantage
The franchisee cannot sell the business without the permission of the franchisor
Advantage
Disadvantage
Do not have full control over decisions
Advantage
Disadvantage
One of the advantages of online shopping where shoppers can locate goods online without taking too much time.
Time-saving
Convenience
It is the act or process of selling goods, products or services via an internet or mobile app, auction site, online classified advertisement, social networking and social media.
Entrepreneurship
Online selling
Small business
Business ideas can be adopted from your interests and hobbies as well
True
False
Key activities are the most important things a company must do to make sure it business can run smoothly.
True
False
Qualifications of the members must be included when we preparing Business proposal for partnership company.
True
False
