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Entrepreneurship Skills Question Paper

Entrepreneurship Skills

Course:Diploma In Leadership And Management

Institution: Strathmore University question papers

Exam Year:2009

1
STRATHMORE UNIVERSITY
FACULTY OF COMMERCE
Diploma in Leadership and Management
END OF SEMESTER EXAMINATION
DLM 2201: ENTREPRENEURSHIP SKILLS (FULL-TIME)
DATE: 14th December 2009 TIME: 2 Hours
Instructions: Answer Question 1 and any other two questions
QUESTION ONE
Case Study: Maria’s Shoe Shop
Maria worked at a large department store in the Bata Shoe Chain of store department before
becoming self-employed. When she accepted the job, it was after many weeks of
unsuccessful job hunting and it was not exactly the job she had wanted. After working at the
store for a year, she became increasingly unhappy. The job offered security but she was
given very little responsibility and there was no opportunity for advancement.
Events changed for Maria when she inherited some money from her wealthy aunt. She had
always dreamed of owning her own business; she felt that working for someone else was too
restrictive. Maria had a talent for creative ideas and had never had an opportunity to use her
ideas while working for other people. She did enjoy the personal selling involved in selling
shoes and saw a need in her village for a family shoe shop. Before quitting her job at the
department store to start her own business, Maria took a course in small business
management and consulted with her parents who had been self-employed in the village for 15
years.
Considering the facts given in the case study:
a) Which form of business organization would Maria be most likely to select?
Give four reasons for your response. (8 Marks)
b) Most of Maria’s initial capital will be supplied by her inheritance.
Identify two additional source of equity capital she could use. (4 Marks)
c) Highlight any four problems that Maria is likely to encounter in starting and operating
her Shoe Shop.
(8 Marks)
2
QUESTION TWO
a) Determine some strategies you would put in place to enable you to cope with
competition that is likely to face your enterprise (16 marks)
b) Highlight four requirements you need to venture into self employment (4 marks)
QUESTION THREE
Discuss some of the incentives that the government has put in place to encourage rapid
development in the country. (20 marks)
QUESTION FOUR
Explain the benefits that would accrue to an entrepreneur by engaging in his own business
rather than being employed by another person. (20 marks)
QUESTION FIVE
a) Identify four reasons that would make it necessary for potential entrepreneurs to prepare a
business plan. (16 marks)
b) Highlight any two contents of a winning business plan. (4 marks)

Entrepreneurship Skills Question Paper

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