ENTREPRENEURSHIP DEVELOPMENT – FMB334

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SECTION A–MULTIPLE QUESTION

PLEASE ANSWER ALL QUESTIONS

1. UNIDO (1999) defined entrepreneurship as the process of using initiative to transform ——————– concept to new venture, diversify existing venture or enterprise to high growing venture potentials.

a). Management
(b). Business
(c). Opportunity.

2. Hornby (2006) defined an entrepreneur as a person who makes money by starting or running businesses, especially when this involves taking ——————.

(a). FinancialRisk
(b). EducationalRisk
(c). Spiritual Risk.

3. Abianga (2010) defined development as the act or process of growth, progress and ——————- within a physical setting.

(a). Experiment
(b). Encouragement
(c). Improvement.

4. The shoe company donates a pair of shoes for every pair it sells. This is an example of —————–

.(a). Startup Entrepreneur
(b). Solo Entrepreneur
(c). Social Entrepreneur

5. Natural Salespeople who can Do any business to make moneyare called—————-

(a). Innovator Entrepreneur
(b). Hustler Entrepreneur.
(c). Imitator Entrepreneur.

6. As a Minister of God, Having a business creates a source of —————- that is entirely independent from tithes and offerings

. (a). Skill
(b). Revenue
(c). Management.

7. Theinformation and data uncovered in the Feasibility study are included in the —————

-(a). Business Policy.
(b). Business Plan
(c). Feasibility Study.

8. An Entrepreneur creates job opportunities that can add value to the local community and provides a great outreach opportunity to spread the gospel in the marketplace.

(a). TRUE
(b). FALSE

9. Entrepreneurs and Intrapreneurs are both critical to the economy and business climate because they create the technology, services, and products that help grow a healthy economy.

(a). TRUE
(b). FALSE
(c). INDIFFERENT

10. List the four (4)resources required to perform business functions. Man, ——,——-&——

11. As an Entrepreneur, ——————- is important and must be carried out before you start your Business.

(a). Market Research.
(b).Business Discussion
(c). Business Investors.

12. A —————- for small business is an in-depth research and financial analysis that recommends if one should pursue a business idea or product.

(a). Business Search.
(b).Market Review
(c). Feasibility Study.

13. As an Entrepreneur, list five (5) Business or Industry that was adjudged to survive Covid-19 Pandemic and could be all-time Business across the World.

14. While writing your busine Plan, the Executive Summary part is expected to summarize the project and business while the ultimate conclusions are also outlined there.

(a). TRUE
(b). FALSE.

15. WorkingCapital available to an entrepreneur is made up of the personal savings, contributionsfrom family, friends and relations and Bank Loan. (

.(a). TRUE
(b). FALSE
(c). INDIFFERENT.

16. ———————- management is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.

(a). Business.
(b).Marketing
(c). Selling.

17. A ——————– is a business method in which the owners, sell the rights of their business logo, name, and model to third party retail outlets, owned by independent, third-party operators.

(a). Franchise.
(b).Partnership
(c). Entrepreneurship.

18. Establishing internal control and internal check within an organization is a useful tool to guide and control ——————.

(a). Break-Even.
(b).Funding
(c). Cash Flow.

19. Four P’s that will help you as an Entrepreneur includes: Products, ——–,——- and ——–

20. Mention three (3) Dimension of Education that an Entrepreneur must have.

SECTION B – THEORY – Answer Five (5) Questions ONLY.

1. Planning in Ministry is Looking forward while ControllingMinistry is Looking Backward. Explain this assertion with related examples.

1. Mention and briefly explain the Ten (10) Skills required as an Entrepreneur in the 21st century.

2. As a recent graduate of Chosen Life Christian University who just gotemployed by a thriving ministry and you are saddled with the responsibility to Choose a Business for your organization, Conduct a Feasibility Study and develop a Business Plan for its execution.

3. Mention and briefly explain five (5)Principles of Entrepreneurship and Intrapreneurship.

4. With examples, differentiate between Entrepreneurs & Intrapreneurs (State the Difference and Similarities).

5. Social Entrepreneurs use the principles of entrepreneurship to build businesses. Explain the concept of Social Entrepreneurship and cite several examples.

6. Mention and briefly explain Ten (10) Types of Entrepreneurs and cite several examples of each.

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I ATTEST THAT THE ABOVE QUESTIONS WERE DULY ANSWERED BY ME AND I SHOULD BE SCORED BASED ON THE ANSWERS PROVIDED.