Entrepreneurship and Agribusiness Quiz

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Questions and Answers

What is the total duration of the examination?

Three hours (correct)

Two hours

Five hours

Four hours

How many sections does the question paper consist of?

Two sections

Three sections (correct)

Five sections

Four sections

What is the total mark for Section A?

30 Marks

20 Marks

50 Marks (correct)

40 Marks

What is the maximum number of questions that can be answered in Section B?

Three questions Signup and view all the answers

What is the recommended color of pen to use for the examination?

Blue or black pen Signup and view all the answers

What is the specific instruction regarding calculators?

Calculators may be used where necessary Signup and view all the answers

What is a challenge that Asifiwe faces in starting her agriculture business?

Lack of skills in agriculture Signup and view all the answers

What is the purpose of RDB's support for agro-businessmen?

To help find markets for products Signup and view all the answers

What is one of the strengths of Asifiwe?

Availability of loans from Bank of Kigali Signup and view all the answers

Why is a business plan useful to lenders?

It provides them with a clear understanding of the business's financial prospects Signup and view all the answers

What is one of the sources of funds for starting a business?

Loans from Bank of Kigali Signup and view all the answers

What is the purpose of a financial plan in a business?

To outline the financial projections and management of the business Signup and view all the answers

What is the purpose of a business plan presentation?

To summarize the contents of the business plan Signup and view all the answers

What is the value of the closing stock of Mr. KARENZI at December 31, 2021?

10000Frw Signup and view all the answers

What is the purpose of conducting a SWOT analysis in business?

To identify internal and external factors that are favorable and unfavorable to achieving business goals Signup and view all the answers

What is a business plan primarily used for?

To create a road map for future business growth and development Signup and view all the answers

What is the main difference between a business plan and a project plan?

A business plan focuses on the overall business, while a project plan focuses on a specific project Signup and view all the answers

What is the purpose of an executive summary in a business plan?

To provide a brief overview of the business Signup and view all the answers

What is the main benefit of having a job description in a business plan?

It helps to define the roles and responsibilities of employees Signup and view all the answers

What is the purpose of monitoring and evaluation in business?

To track the progress of the business and make adjustments as needed Signup and view all the answers

What is one of the importance of conducting a business feasibility study?

To determine whether the business idea is viable Signup and view all the answers

What is one of the strategies that can be used to present a business plan to an audience?

Using visual aids such as charts and graphs to illustrate key points Signup and view all the answers

Study Notes

Business Development

Business plan is a road map for future business growth and development
Production plan is a detailed plan for the production of goods or services
Internal business environment refers to factors within the business organization that influences its activities and performance
SWOT analysis is a technique used to identify internal and external factors that are favorable and unfavorable to achieving business goals

Business Environment

Types of business environment:
- Internal business environment (e.g. strengths, weaknesses, company culture)
- External business environment (e.g. opportunities, threats, market trends)

Business Planning

Elements of executive summary:
- Business concept
- Market analysis
- Financial projections
- Management team
- Funding request
- Product or service description
Importance of monitoring and evaluation:
- Improves decision-making
- Increases efficiency
- Enhances accountability
- Encourages learning and improvement
- Supports strategic planning
- Facilitates resource allocation

Sources of Funds

Sources of funds for starting a business:
- Personal savings
- Loans from banks or financial institutions
- Investors (e.g. venture capitalists, angel investors)
- Grants from government or non-profit organizations
- Crowdfunding

Business Feasibility Study

Steps involved in business feasibility study:
- Define the business idea
- Conduct market research
- Analyze the competition
- Determine the financial requirements
- Evaluate the management team
- Identify potential risks and challenges
- Develop a contingency plan

SWOT Analysis

SWOT analysis for Asifiwe's agro-business:
- Strengths:
  - Courageous
  - Self-confident
  - Team manager
- Weaknesses:
  - Lack of skills in agriculture
  - Limited financial resources
- Opportunities:
  - Bank of Kigali (BK) offers loans to young entrepreneurs
  - RDB helps agro-businessmen to find markets for their products
- Threats:
  - Recent pandemics
  - Global economic challenges
  - Competition from Tanzania's high-quality potato supply

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Description

This quiz assesses knowledge of entrepreneurship and agribusiness, including loans, marketing, and environmental factors. It focuses on a scenario where a young entrepreneur, Asifiwe, faces challenges in starting an agricultural business.