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Establishing And Managing Small Business(Entr 330) Question Paper

Establishing And Managing Small Business(Entr 330)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2011

TIME : 2 HOURS
INSTRUCTIONS Answer Question ONE (Compulsory) and any Other TWO Questions

Question 1
Business idea generation and screening are TWO important aspects of the entrepreneurial process. “Screening” is also referred to as feasibility assessment of a business idea. a) Some scholars argue that entrepreneurship is about the business idea, the person(ie entrepreneur) and finances and that the least important factor of the THREE is finances. Do your agree? Explain. (5marks)
b) Explain any three (3) sources of contemporary business ideas or sources of those ideas that are available to an entrepreneur in Kenya. (5marks)
c) Explain how you would go about conducting business idea feasibility assessment along any six (6) important dimensions that you know of. (9marks)
d) i) Define financial management as applied to SMEs and identify the three (3) areas of financial decision making. (4marks)
ii) State any three (3) sources of short term finance available to a small entrepreneur. (2marks) iii) Critically evaluate the role of commercial banks in respect of long term financing needs 8 MFs (5marks)

Question 2
It is desirable that start up business grow to because large corporations.
a) State and explain any FOUR challenges that entrepreneurial face at the growth phase. (8marks) b) What is your view are the options/strategies (select any FOUR) available to an entrepreneurial firm when faced with growth? Explain. (8marks)
c) How can an entrepreneurial firm effectively select a market and establish its position in that market? Explain any market strategy that you know of. (4marks)

Question 3
a) What are the support needs of small entrepreneurs? Critically evaluate the Kenyan entrepreneurs? Critically evaluate the Kenyan environment in terms of the adequacy of support infrastructure. What are the gaps that you perceive? (15marks)
b) Define entrepreneurship and list an three (3) characteristics of successful entrepreneurs. (5marks)

Question 4
a) The business environment is critical for the success of any entrepreneur firm. How can you effectively carry out environmental analysis in the context of an industry and competitors prior to establishing an entrepreneurial retuse ? (14marks)
b) Define “intellectual property” and “intellectual property rights (IPR)” and state and explain any three such rights that you know of. (6marks)

Question 5
a) Though some entrepreneurs do not have a final business plan, it is all the same im
i) What is a business plan
ii) Why should entrepreneurial ventures have a business plan?
iii) Provide an outline of a good business plan. (10marks)
b) You are a small entrepreneur, planning a ready-made garments unit for producing good quality school uniform, how would you conduct your market demand analysis? What are the variables that you would need to evaluate for estimating your market demand?(10marks)

Establishing And Managing Small Business(Entr 330) Question Paper

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