MNE202-V Revision Question and Memo1[1]

MNE202-V Revision Question and Memo1[1] - THE GRADUATE...

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Unformatted text preview: THE GRADUATE ACADEMY A REPUTATION FOR EXCELLENCE BUSINESS MANAGEMENT (ENTREPRENEURSHIP) MNE202-V 2009 Revision Questions & Memo Disclaimer : Any reference to codes is a reference to official UNISA codes. We do not duplicate their codes nor represent them as our own. We are a private company and we are in no way connected with UNISA, nor do we hold a collaboration agreement with UNISA. We simply work through UNISA material with students as a form of academic support and revision. Our revision packs are compiled by our lecturers and questions are based on the type of questions asked by UNISA in examinations and assignments No part of this work may be reproduced in any form or by any means, without the written permission of The Graduate Academy. Any unauthorised reproduction of this work will constitute copyright infringement, and render the doer liable under both civil and criminal law. Whilst every effort has been made to ensure that the information in these notes is accurate, The Graduate Academy takes no responsibility for any loss or damage suffered by any person as a result of the reliance upon the information contained herein. Section A 1. The stage of the creative process where a person realises that an idea is feasible is know as the stage. (1) preparation (2) invention (3) illumination (4) verification 2. Mary recently moved to the coast to retire. She found that she had not saved enough for her retirement and wanted to start her own business. She decided to start a dog parlour because she loves dogs and identified a need for a parlour. Which form of ownership would you recommend to Mary if she wants to minimize the risk of losing the money she has saved? (1) sole proprietorship (2) partnership (3) close corporation (4) public company 3. In the management plan of the business plan you would find a description of (a) the work experience of the executives (b) the form of ownership (c) the future outlook of the business venture (d) the role of the entrepreneur in the business (1) a and b (2) c and d (3) bands (4) a and d 4. Kay conducted research to find a suitable business to start. She found that the use of the Internet and the volume of Internet transactions have tripled over the last few years Based on her research and information that there was only one Internet café in her city, Kay started an Internet Café. The above is an example of (1) the corridor principle (2) opportunistic entrepreneurship (3) the development gap (4) the window of opportunity 5. Jane has developed a formula for a new and improved shampoo She now wants to patent, manufacture and market the new product. The key ingredient in the product is a herbal extract that only ABC pharmaceutical company can provide to Jane Which aspect of the competitive environment is Jane's business...
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MNE202-V Revision Question and Memo1[1] - THE GRADUATE...

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