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Ird 305: Entrepreneurship For Small Businesses Question Paper

Ird 305: Entrepreneurship For Small Businesses

Course:Entrepreneurship For Small Businesses

Institution: University Of Eldoret question papers

Exam Year:2015

UNIVERSITY OF ELDORET
ACADEMIC YEAR 2015/2016
SEMESTER I
IRD 305: ENTREPRENEURSHIP FOR SMALL BUSINESS

Instructions: Answer Question One and Any Other Three Questions

Q1.
(a). Risk taking is one of the characteristics of an entrepreneur. Evaluate this statement and identify the main scholar who identified an entrepreneur as a risk taker. (3 marks)
(b). You applied for the Uwezi Fund to set up your business and you were not successful. State four other organisations you will approach to finance your business. (4 marks)
(c). The process of preparing the business plan comes with costs and benefits which the entrepreneur should be aware of. Discuss any such costs. (5 marks)
(d). The business you intend to set up will be financed by your best friend who has accepted to double up as your business partner. Discuss two advantages and two disadvantages of such an agreement. (4 marks)
(e). Highlight the benefits of ethics to your customers and the society. (4 marks)
(f). You have been invited to give a lecture on " The Government''s Strategies and Programmes in support of the Small Business Enterprises". Discuss. (5 marks)

Q2.
(a). Most small enterprises carry out their trading activities at a central location. Outline thw measures an entrepreneur would take to gain competitive edge over her competitors. (10 marks)
(b). Entrepreneurs are motivated by return on investment. What do you expect to achieve from setting up your own business. Discuss. (5 marks)

Q3.
(a). David Ricardi, one of the proponents of creativity and innovation encountered some challenges at an age of 21. Outline some of the personal challenges he encountered and how he overcame them. (5 marks)
(b). Most small businesses carry out their activities despite factors that have been identified as inhibiting the development of the small enterprise and jua kali sector. Discuss. (10 marks)

Q4.
(a). Marketing is crucial for the success of your business. You have completed your business plan write up and already identified a financier for your business. However, he requires an elaborate outline of the methods you will use to advertise and promote your product/service. Explain. (10 marks)
(b). Export oriented/ import substitution products is a source of a business idea. Evaluate this statement in light of the type of businesses you can set up to take advantage of a nearby airstrip/ airport and outline two sources of business ideas. (5 marks)

Q5.
(a). Intrapreneurship School of Entrepreneurship evolved in response to the lack of innovativenessand competitiveness within organisations. Discuss how intrapreneurship has contributed to the success of many organisations and identify organisations that are succeeding from innovations of such intrapreneurs. (7 marks)
(b). You are the owner of a business with branches in four counties youbhave opted for the centralised recruitment as opposed to each branch recruiting its employees. Discuss the advantages of such a method. (8 marks)

Q6.
(a). With illustrations, describe how entrepreneurship helps in bringing out social stability.(10 marks)
(b). Chapter Two of the business plan discusses growth strategies amaong other issues. You run a successful hotel business. Explain the strategies to put in place to manage surge in customers to your business. (5 marks)

Ird 305: Entrepreneurship For Small Businesses Question Paper

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