ENTREPRENEURSHIP QUESTION ONE 1. Give four Characteristics of an entrepreneur? (4mks) 2. Explain how small businesses are important to our economy and your community.(8mks) 3. Explain why flexibility is important to the survival of a small business.(6mks) 4. What are factors to consider when moving to self-employment? (10mks) 5. Describe the different ways an owner of a start-up business can help to promote an ethical organizational culture.(6mks) 6. Discuss the challenges and remedies of entrepreneurship.(10mks) 7. Define competitive advantage and explain how a business can establish and maintain it to lead to success?(6mks) 8. State challenges of family business owners and suggest possible solutions.(6mks) 9. Explain the significance of an entrepreneur to learn the product life cycle.(10mks) 10. Personal selling is an important technique for the small business owner. Discuss.(10mks) 11. What are Qualities of a good business opportunity? (5mks) 12. Give Factors to consider when assessing product demand.(5mks) 13. Why should one have reasons for protection of business ideas?(4mks) 14. Give four distinctions of entrepreneurs and business owners.(8mks) 15. Discuss the importance of business licensing.(5mks) 16. Discuss how entrepreneurs can ensure that their business stays innovative and fresh? Why do you think some small businesses lose their creative edge as the business grows?(10mks) 17. Discuss the differences between ordinary share capital and preference share capital.(5mks) 18. What are similarities between debt finance and preferred share capital?(5mks) 19. Discuss the advantages and disadvantages of preference share capital. Classifications of preference shares.(8mks) 20. What are factors that affect the type of finance cost?(5mks) 21. Discuss factors that influence the choice of objectives in setting business goal.(7mks) 22. In your own opinion, what do you think is the most effective and efficient way for small business owners to promote and market their products or services?(5mks) 23. Define the following terms I. Entrepreneurship (2mks) II. Entrapreneurship (2mks) III. Entrepreneur (2mks) 24. Explain some of the advantages of self-employment.(10mks) 25. Differentiate between innovation and invention as it applied to the process of entrepreneurship.(4mks) 26. Identify any five ways of protecting business ideas and secrets.(5mks) 27. Explain some of the factors an entrepreneur needs to consider before selecting an appropriate form of business ownership.(5mks) 28. Explain the importance of a budget to an entrepreneur.(5mks) 29. List the disadvantages of globalization.(4mks) 30. An entrepreneur can only be relevant in the market if he/she remains updated with the current technology. Discuss the impact of technology to entrepreneurs.(10mks) 31. Generating a good business idea is the first step in starting and becoming self-employed. Explain the major characteristics of a good business idea.(10mks) 32. Explain any five benefits that accrue to an entrepreneur from preparing a business plan.(5mks) 33. What are the reasons for outsourcing?(6mks) 34. Differences between technoprenuers and entrepreneurs.(5mks) 35. Discuss benefits of business networking?(6mks) 36. List FIVE advantages of electronic money transfers.(5mks) 37. Discuss factors that influence entrepreneurial activities/motivate entrepreneurs.(5mks) 38. List and discuss Foursources of innovative ideas.(8mks) 39. Give reasons explaining why business ideas should be protected.(5mks) 40. Identify the major sources of capital available to an entrepreneur today in your country.(5mks) 41. Explain why a government may emphasize on entrepreneurship growth in your country.(2mks) 42. Discuss principles of innovation.(5mks) 43. What could one adapt from other industries or fields to their business?(2mks)W 44. Creative thought includes four stages. Discuss them.(8mks) 45. Discuss disadvantages and advantages of extending credit t
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