TMA2/GST301

My TMA Home TMA Results My Pending TMA Quick Help TMA Quiz Questions TMA: TMA2/GST301 Matric Number: SCORE=10.00 GST301 - Entrepreneurship Studies DR SAMAILA MANDE (msamaila@noun.edu.ng ) 1 the body of regulations and laws can be classified under the Political/Legal envioronment Socio-cultural environment Technological environment Demographic environment 2 The environment that recognizes the customs, traditions and value of the community is known as …………………. Demographic Socio-cultural Technology Historical 3 The environment in the borderline between internal and external environment is ………………. General Remote Close Intermediate 4 The support systems that facilitate entrepreneurship process listed here are ……………… Seven Six Five Four 5 Entrepreneur can assess the external environment of the business by critically looking at the ………………. opportunities and strengths opportunities and threats opportunties and weaknesses Weaknesses and threats 6 The scanning of the business environment so as to identify the favourable and unfavourable conditions therein is …………………………… SWOT analysis Externl evaluation Internal Evaluation Market analysis 7 Threats from external environmental factors can come from: Direct Completion Indirect competitors Consumers All of the above 8 Opportunites in the political/legal environment could be - favourable government policies Tax holidays Great market demand a and b 9 The essence of scanning the external environment of business is in order to identify …………………….. only strengths weaknesses strengths and weaknesses opportunities and threats 10 The entrepreneur can assess the internal environment of business by critically looking at the opportunies and threats. opportunities Threats and opportunities strength and threats strengths and weaknesses 11 The entrepreneur can assess the internal environment of the business by critically looking at 5ps 5s 5w 5t 12 One of the following is not an advantage of sole proprietorship ownership of all profits Minimum legal restriction unlimited liability Privacy 13 The minimum number required to start a sole proprietorship One Two Seven Twenty 14 All of the following are the disadvantages of sole proprietorship except Limited growth unlimited liability lack of continuity after the death of promoter Easy to raise capital 15 Partnership formation requires minimum and maximum number of patners respectively 2 and 20 2 and 50 2 and 7 7 and 20 16 The document that states all the terms of partnership is known as Partnership agreement article of partnership article of association a and b 17 The business environment can be broadly classified into…………………… two three four five 18 When a development perceived as a threat by an organization is viewed as an opportunity by another then the business environment is ……………………... multifaceted Stable Simple potent 19 A …………………….. Is an inherent constraint that creates strategic disadvantage for an organization. threat weakness strategy risk 20 A …………… business environment is made up of a number of factors that interact and interrelate with one another complex and dynamic Simple Stable potent