INTRODUCTION TO ENTREPRENEURSHIP REVISION QUESTIONS



Briefly explain the following terms:

(a) Self-employment
(b) Craft entrepreneurs
(c) Business opportunity
(d) Business location
(e) Corporate entrepreneurship.    (30 marks)

There are characteristics that are possessed by successful entrepreneurs.  Discuss ten of these characteristics.     (20 marks)

Explain four ways in which the government contributes to the development of entrepreneurship.      (20 marks)

Discuss five reasons why planning is important to an entrepreneur.          (20 marks)

Discuss the internal and external factors that motivate people to go into self-employment.        (25 Marks)

Discuss the contributions of entrepreneurs to society.  (15 Marks) Explain the role of the government in entrepreneurship development. (10 Marks)

Explain the characteristics of a good business opportunity.  (10 Marks) Discuss the advantages and disadvantages of a partnership.  (15 Marks)

Analyze the characteristics of successful entrepreneurs.  (10 Marks) Explain the major components of a business plan.

 Explain five advantages and five disadvantages of limited liability companies as forms of businesses in Kenya.      (10 marks)

Outline five roles of small businesses in the development of the Kenyan economy.             (10 marks) A business plan is a written document that sets out the method for running a specific activity over a specific future time.  Explain any five importance of a business plan to business organizations.       (10 marks)

Employees have a stake in the success of the company.  Discuss this statement and explain four ways you can use to motivate employees to work for you as the owner of a leading media company in Kenya.        (20 marks)

Discuss the advantages and disadvantages of any FIVE (5) sources of business finance.            (20 marks)

Explain what you understand by the term intellectual Property Rights.  Give a clear meaning of the following terms:  Patent, registered trademark, and copyright. (20 marks)

It is better to be self-employed than to work for a salary.  Discuss. (30 marks)

Explain the following terms briefly. a) Entrepreneur b) Business opportunity c) Intrapreneurship d) Business location      (20 marks)

SMEs have certain characteristics.  Explain four of them.  (20 marks)

Describe the six qualities of a successful entrepreneur who owns a kiosk in your neighborhood.    (20 marks)

It is a requirement by the Ministry of Youth for a potential fund’s seeker to present a complete business proposal.  Explain all the components of a good business plan.      [20 marks] Discuss in detail the benefits of a business plan to a potential entrepreneur. [10 marks]

Discuss the contribution of the following theorists in entrepreneurship development: (a) David McClelland      [10 marks] (b) Joseph Schumpeter      [10 marks]

Many countries have embraced the concept of entrepreneurship as a means of speeding up economic development.  Define entrepreneurship and briefly explain the key characteristics of potential entrepreneurs.   [20 marks]

Discuss the role of Kenya Industrial Property Rights. (20 marks)  b) Define the following terms Patents, Trademarks, Copyright.            (10 marks)

Discuss the uses and the importance of Business Plans.  (20 marks)

Identify the various sources of motivation (internal and external) and explain each one of them.        (20 marks)

Discuss the importance of studying entrepreneurship. (10 marks) Explain the importance of entrepreneurship in national development.           (10 marks)

An entrepreneur is always advised to prepare a Business Plan before starting an enterprise. a) Define the term Business Plan.     [5marks] b) Discuss the components of a Business Plan.    [15marks] c) There are many sources of Business ideas.    Explain five (5) sources of a good business idea.   [10marks]

Discuss in detail five (5) characteristics of a Small and Medium (SMEs) Enterprises.           [20marks]

It has been documented that most enterprises in Kenya do not celebrate their third birthday.  Explain ten (10) reasons why the business in Kenya have such a high mortality rate.          [20marks]

There are various situations that force people to go into self-employment.  Discuss two (10) reasons as to why people opt for self-employment.

For Kenya to achieve economic development, she must embrace  entrepreneurship.  In view of this, discuss five economic benefits that she would gain as a developing economy.     (10 marks) In your own words, discuss five (5) reasons that motivate individuals to self- employment.        (10 marks) Distinguish between a partnership and a sole proprietorship.  Write five such  differences.        (10 marks)

Explain what you understand by the term Business Plan.  (5 marks) As a prospective entrepreneur, it is appropriate to have a good business plan.   Discuss five (5) benefits that one can gain from a good Business Plan. (15 marks)

An upcoming entrepreneur can source for Business idea from various sources.  Discuss five (5) such sources to help him come up with a good business ideas. (20 marks)

Discuss five (5) characteristics of Small and Medium Enterprises (SMEs)           (10 marks) Explain five (5) qualities of a successful entrepreneur.
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