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Section B Theoretical Applications

This document contains a multiple choice test with questions about theoretical business concepts. It asks questions about topics like types of business owners leaving corporate jobs, advice for a prospective business owner, managing a diverse workforce, mind mapping and creativity techniques, Porter's five forces model, and how rivalry and substitutes affect an industry. The document tests understanding of entrepreneurship, management, and strategic business analysis concepts.

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Shalini Velu
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82 views3 pages

Section B Theoretical Applications

This document contains a multiple choice test with questions about theoretical business concepts. It asks questions about topics like types of business owners leaving corporate jobs, advice for a prospective business owner, managing a diverse workforce, mind mapping and creativity techniques, Porter's five forces model, and how rivalry and substitutes affect an industry. The document tests understanding of entrepreneurship, management, and strategic business analysis concepts.

Uploaded by

Shalini Velu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SECTION B: THEORETICAL APPLICATIONS (45 MARKS)

INSTRUCTION:

Answer ALL questions in the space provided. For multiple choice questions, CIRCLE the
right

Answer.

QUESTION 1 (4 MARKS)

A. Linda and Johan, both corporate attorneys in Kuala Lumpur City, have grown tired of
their lengthy daily commute, the stress of their jobs, and the overbearing policies of their
employers. They have decided to leave their six-figure jobs and together open a guide
service in Sabah. Melinda and John are examples of ________.
A) corporate castoffs and corporate dropouts
B) corporate dropouts and copreneurs
C) corporate castoffs and copreneurs
D) copreneurs and serial entrepreneurs
(2 marks)

B. Azman has come to you for advice on starting a business venture. He wants to know the
best way to gain the experience he will need. You suggest that he ________.
A) read a small business book
B) seek knowledge and experience in the field he wishes to enter
C) determine his weaknesses and return to school for a term or two
D) just jump in and learn as he goes
(2 marks)

QUESTION 2 (2 MARKS)
Which of the following is NOT something that a small business owner should do to manage a
culturally diverse workforce successfully?
A) Learn to recognize and correct other's biases and stereotypes.
B) Avoid making invalid assumptions.
C) Concentrate on communication.
D) Continue to adjust your company to your workers.

QUESTION 3 (4 MARKS)
A. Mind mapping is a useful tool for jump-starting creativity. It includes ALL of the
following EXCEPT ________.
A) sketching a picture to symbolize the problem or area of focus in the center of a sheet of
paper
B) writing down every idea that comes into your mind, connecting each idea to the central
picture
C) allowing your mind to rest for a few minutes before integrating the ideas
D) forcing creativity when ideas start to trickle
(2 marks)
B. The technique of ________ uses THREE (3) columns that allow the entrepreneur to
weigh both the advantages and the disadvantages of a particular decision and work to
maximize the variables that support it while minimizing those that work against it.
A) force-field analysis
B) TRIZ
C) brainstorming
D) mind mapping
(2 marks)

QUESTION 4 (17 MARKS)


A. Printed newspapers have seen their readership rates decline as new generations of
potential readers turn to their iPads and smartphones for sources of news. This is an
example of ________.
A) threat of substitutes
B) bargaining power of buyers
C) bargaining power of suppliers
D) rivalry among existing firms
(2 marks)
B. How does Porter's five forces model help analyze an industry?
(5 marks)
C. You have been asked to explain how rivalry among companies competing in the industry
affects the attractiveness of the industry. How would you explain it?
(5 marks)

D. How does the threat of substitutes affect an industry's structure?


(5 marks)

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