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Fundamentals Of Entrepreneurship (Buss 221) Question Paper

Fundamentals Of Entrepreneurship (Buss 221)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

Instructions:
Answer question ONE and any other TWO.

Question One
Explain the main external forces that motivated people to venture into business activities.
(10mks)
Briefly describe the Schumpeterian view on entrepreneurship. (5mks)
Discuss the main functions of an entrepreneur.
(10mks)
Explain the five reasons why the main stakeholders are stressing on the need of studying entrepreneurship at all levels of our education system.
(5mks)

Question Two
Highlight the personal and business considerations that a potential entrepreneur should put into focus when screaming a business idea.
(10mks)
Explain the main sources of business ideas to many entrepreneurs today.
(10mks)

Question Three
Outline the main factors that have been influencing creativity and innovation among potential entrepreneurs in most of the world economies.
(10mks)
Some people use the terms entrepreneurial venture and business venture interchangeably which is not supposed to be the case. Outline the main differences between the two terms giving examples where applicable.
(10mks)

Question Four
Explain various challenges that many potential entrepreneurs have been facing when preparing a business plan.
(10mks)
When delegation is properly applied can lead successful business management. Define the word delegation and explain the main benefits of delegation to a business enterprise.
(10mks)

Question Five
Briefly explain the following theories of motivation and describe their relevance to entrepreneurship.
Maslow’s hierarchy of needs theory
Mc Llelands acquired needs. Theory
Highlight the main differences between management and leadership.

Fundamentals Of Entrepreneurship (Buss 221) Question Paper

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