1. Out of the following options, which is the most significant motivation for individuals to embark on entrepreneurship?
a. Personal fulfillment, alleviating acute pain and societal contribution
b. Maximizing economic value for the individual
c. Pursuing autonomy and being one’s own boss
d. Tackling environmental challenges for global betterment and a sustainable world
Answer :- a
2. All the following statements appear to be correct to some extent. Which one of the following statements is more accurate than the rest?
a. Entrepreneurship, being highly risky, is only viable for individuals with a background in business.
b. The level of entrepreneurship in a country is a key determinant of its citizens’ quality of life.
c. Engaging in entrepreneurship invariably leads to an improvement in the quality of life for entrepreneurs.
d. Extroverted individuals are predominant among successful entrepreneurs
Answer :- b
3. What is the most significant aspect of entrepreneurs among the following?
a. Entrepreneurs generate wealth for investors.
b. Entrepreneurs primarily accumulate wealth for themselves.
c. Entrepreneurs contribute to national wealth creation in many ways.
d. Entrepreneurs play a crucial role in social advancements in a country.
Answer :- c
4. Which of the following characteristics best describes entrepreneurs?
a. Fearful of risks and uncertainties
b. Enthusiastic about taking calculated risks
c. Indifferent to risk considerations and focused on immediate gains
d. Averse to risk-taking in general
Answer :- b
5. Which of the following is NOT acknowledged as a misconception about entrepreneurship?
a. Entrepreneurs are born into business families. .
b. A significant portion of entrepreneurial knowledge can be acquired through learning.
c. Entrepreneurs are typically extroverts.
d. Initiating an entrepreneurial venture demands substantial capital
Answer :- b
6. What factor is NOT attributed to the success of Sophia Amoruso?
a. Her acute understanding of the customers
b. Her expertise as the CEO of NastyGal
c. Her social skills
d. Uncompromised and consistent ethics
Answer :- b
7. The ____ in simple words is where a company wants to reach in the long run. All members of the company must share the same _____ to reach that goal. Which of the following words is ideal to fill the above blank?
a. Vision
b. Mission
c. Strategies
d. Values
Answer :- a
8. Which among the following qualities are the LEAST requirement for employees to pursue ‘Corporate Entrepreneurship’?
a. Full empowerment to think out of the box and act like an entrepreneur without major part of the risks.
b. Should possess creativity and be innovative in conceiving new products, services, and processes and execute them effectively.
c. Action-oriented, self-driven, and creative.
d. Have managerial, technical, and interpersonal skills.
Answer :- d
9. You want to start an e-commerce company. You target the niche market of hand-made goods. You have written the following statement: ” We curate and showcase a diverse array of exquisitely crafted handmade products, connecting artisans globally with discerning customers, and fostering a marketplace that celebrates craftsmanship, authenticity, and unique artistic expressions.” – What can this statement be termed as?
a. Vision
b. Mission
c. Strategies
d. Values
Answer :- c
10. Which of the following best defines empathy?
a. The ability to understand and share the sorrows of another and express our pain for the same.
b. The ability to feel the pain of others almost as much as we feel when we suffer the same.
c. The ability to sympathize with others for all their pains as well as celebrate their joys.
d. Never to miss a chance to say “sorry’ when one comes to know about another person’s loss or pain.
Answer :- b