SV104 Pre Final Examinationx
SV104 Pre Final Examinationx
SV104 Pre Final Examinationx
Pre-Final Examination
I. Questions
1. What is an entrepreneur? Explain characteristics of entrepreneurs.
2. What make someone an entrepreneur?
3. What is creativity and innovation in entrepreneurship? Give an example of
each?
4. What are the major benefits of business ownership?
5. Which of the potential drawback to business ownership are most critical?
6. Briefly describe the role of the following groups in entrepreneurship: women,
minorities, immigrants, part timers, home based business owners, family
business owners, coroners, corporate castoffs, and corporate dropouts.
7. What contributions do small businesses make to our economy?
8. Describe the small business failure rate.
9. How can be the small business owners avoid the common pitfall that often lead
to business failures?
10. Why is it important to study the small business failure rate?
11. Explain the typical entrepreneurs attitude toward failure.
12. What advice would you offer an entrepreneurial friend who has just suffered a
business failure?
13. Noting the growing trend among collegiate entrepreneurs launching business
which still in school, one educator say, A student whose main activity on
campus is running a business is missing the basic reason for being here, which
is to get an education, Do you agree? Explain.
14. What is five forces model? Explain.
15. Why entrepreneurs use five forces model for analyze their organization?
16. What is consumption Chain Analysis? Explain.
17. Describe the constructions of Consumption Chain?
18. What are the Consumption chains for a manufactured product?
19. What are the Consumption chains for a service business?
20. What is PESTLE Analysis? Explain.
45. Compare the failure rates for franchises with those of independent businesses.
What are some of the reasons for this difference?
46. Why might an independent entrepreneur be dissatisfied with a franchising
arrangement?
47. What clues might indicate an unreliable franchisor?
48. Should a prospective franchise investigate before investing in a franchise? If so,
how and in what areas?
49. Outline the rights the Trade Regulation Rule gives all prospective franchisees.
50. What is the source of most franchisor-franchisee litigation? Which party does
the standard franchise contract favor?
51. Describe the current trends affecting franchising within the United States and
internationally.
52. One franchisee says, Franchising is
(the franchisor) to get you going, nurture you, and shove you along a little.
However, the franchisor wont make you successful. That depends on what you
bring to the business, how hard you are prepare to work, and how committed
you are to finding the right franchise for you. Do you agree?
53. Why might an entrepreneur consider franchising to be an attractive growth
strategy?
54. What should an entrepreneur be prepared for in considering franchising as a
viable alternative?
55. What advantage can an entrepreneur who buys a business gain over one who
starts a business from scratch?
56. How would you go about determining the value of the assets of a business if
you were unfamiliar with them?
57. Why do so many entrepreneurs run into trouble when they buy an existing
business? Outline the step involved in the right way to buy a business.
58. When evaluating an existing business that is for sale, what areas should an
entrepreneur consider? Briefly summarize the key elements of each area.
59. How should a buyer evaluate a businesss goodwill?
60. What is a restrictive covenant? Its fair to ask the seller of a travel agency
located in a small town to sign a restrictive covenant for 1 year covering a 20square-mile area? Explain.
61. How much negative information can you expect the seller to give you about the
business? How can a prospective buyer find out such information?
62. Why is it so difficult for buyers and seller to agree on a price for a business?
63. Which method of valuing a business is best? Why?
64. Outline the different exit strategies available to a seller.
65. Explain the buyers position in a typical negotiation for a business. Explain the
sellers position.
66. What tips would you offer a buyer about to begin negotiating the purchase of a
business?
67. What benefits might you realize from using a business broker? What are the
disadvantages?
68. Why should an entrepreneur develop a business plan?
69. Why do entrepreneur who are not seeking external financing need to prepare
business plans?
70. What is business plan? Describe content of Business plan.
71. What are the benefits of creating a business plan?
72. Describe the two essential function of business plan.
73. Describe the three tests every business plan must pass.
74. What is executive summary in Business plan? How is it important?
75. How can an entrepreneur seeking funds to launch a business convince potential
lenders and investors that a marker for the product for service really exist?
76. Describe the 5 Cs of credit?
77. What are the five basic areas of business plan presentation?
78. Why is strategic planning important to a small company?
79. What are business strategies? Explain.
80. What is competitive advantage and core competency? Explain.
81. Why is competitive advantage important for a small business to establish one?
82. What are in the step the strategic management processes?
83. What is vision statement, mission statement, objectives and goal?
1. Creativity,
28. Customer
53. Differentiation
Strategy,
2. Innovation,
Relationship
3. Sole proprietorship,
Management (CRM),
4. The partnership,
5. Franchise contracts,
6. Franchise, Risk,
7. Opportunity,
29. Total
Quality
Management (TQM)
30. Marketing Mix (Four
Business
Perspective,
Ps),
8. E-commerce,
9. E-business,
59. Innovation
10.
Vision,
11.
Mission statement,
12.
SWOT,
35. Guerrilla
61. Rivalry
13.
E-marketing,
14.
Entrepreneurship,
15.
Entrepreneur,
37. Knowledge
16.
Strategic
management,
Marketing
Plan,
management,
38. Strategic
Management,
17.
Corporation,
18.
Feasibility analysis,
39. Objectives,
19.
Business plan,
40. Goals,
20.
Competitive
advantage,
and
learning perspective,
among
existing firms,
62. Bargaining power of
suppliers,
63. Bargaining power of
buyers,
64. Threat of Substitute
products or Services,
65. Threat
of
New
Entrants,
21.
Core competency,
22.
Market research,
44. Strategy,
23.
Focus group,
24.
Target market,
25.
Guerrilla marketing
71. Channels,
49. Economic,
one marketing),
strategies,
26.
Individualized
Feasibility
Analysis,
78. Product
or
Service
Feasibility Analysis,
79. Industry and Market
Feasibility Analysis,
80. Capital Requirements,
81. Return on investment,
82. Value Test,
83. Competitive Test,
84. Marketing Strategy,
85. Marketing Plan,
86. Executive Summary,
87. Direct competitors,
88. Significant
competitors,
89. Indirect competitors,
90. Competitor Analysis,
91. Data Mining,
92. Guerrilla
marketing
principles
93. Existing Customers,
94. Advertising,
95. Promotion,
96. Unique
Selling
Proposition (USP),
97. Value Proposition,
98. Personal selling,
99. Publicity,
100. Word-of-Mouth
Advertising