PBBS 302 Entrepreneurship Development Past Paper (IPS, 2011/2012) PDF

# INSTITUTE OF PROFESSIONAL STUDIES (IPS), LEGON ## DEGREE PROGRAMME ### END OF SECOND SEMESTER EXAMINATIONS-2011/2012 **FACULTY OF MANAGEMENT** **DEPARTMENT OF ACCOUNTING, MARKETING, BUSINESS ADMINISTRATION & BANKING & FINANCE** ## LEVEL 300 **PBBS 302: ENTREPRENEURSHIP DEVELOPMENT** **Date:*...

# INSTITUTE OF PROFESSIONAL STUDIES (IPS), LEGON ## DEGREE PROGRAMME ### END OF SECOND SEMESTER EXAMINATIONS-2011/2012 **FACULTY OF MANAGEMENT** **DEPARTMENT OF ACCOUNTING, MARKETING, BUSINESS ADMINISTRATION & BANKING & FINANCE** ## LEVEL 300 **PBBS 302: ENTREPRENEURSHIP DEVELOPMENT** **Date:** Tuesday, May 22, 2012 **TIME ALLOWED:** 2 HOURS, 30 MINUTES. **INDEX NUMBER** ## INSTRUCTION(S) THERE ARE TWO (2) SECTIONS IN THIS PAPER, SECTIONS A & B ### SECTION A: THIS QUESTION IS COMPULSORY ### SECTION B: ANSWER ANY TWO (2) QUESTIONS ## SECTION A ### QUESTION ONE 1. a. The Hand of God Ministries International Church Youth Club is one of the vibrant Christian movements in the country. They are known to have sponsored many young men and women into vocational training such as hair dressing, dress making, carpentry, mechanics, masonry etc. In one of the forums organized in your area for the youth, the President of the club was quoted as saying “if the youth learn any of these vocations, they will be successful entrepreneurs”. You know in your entrepreneurial class that entrepreneurship is a multi-faceted discipline and just being a good hair dresser cannot ensure your success as an entrepreneur. You are an opinion leader of your community and you have been invited to add your thoughts to the President’s speech **.** Discuss five entrepreneurial tasks and five skills needed by the entrepreneur in addition to his/her technical skill as a hair dresser, carpenter, or mechanic. *(20 Marks)* 1. b. Entrepreneurship is interdisciplinary. As such it contains various approaches that can increase one’s understanding of the field. In light of the above explain one approach from both the micro and macro view. *(10 Marks)* ## SECTION B ### QUESTION 2 2. a. Environmental scanning refers to the effort an entrepreneur uses for examining the external and internal environments before making a decision - Sumaria (1995). Discuss three **(3)** reasons why it is important for an entrepreneur to consider the physical environment in making decisions. *(10 Marks)* 2. b. Financial information pulls together all the information presented in other segments of the business: marketing, distribution, manufacturing and management. There are several questions that the financial statement answers. Discuss three **(3)** of such answers. *(10 Marks)* ### QUESTION 3 3. a. Business networking is a socio-economic activity by which groups of like-minded people recognize, create, or act upon business opportunities. Discuss five **(5)** ingredients towards successful networking. *(10 Marks)* 3. b. According to Zimmerer and Scarborough (2006), leadership is the process of influencing and inspiring others to work to achieve a common goal and then giving them the power and freedom to achieve them. Without leadership abilities entrepreneurs and their companies will never achieve the full potential of the organization. Discuss five **(5)** effective attributes of leaders in entrepreneurship. *(10 Marks)* ### QUESTION 4. Discuss five **(5)** criteria for judging whether a new business idea of your choice is a good investment *(20 Marks)* ### QUESTION 5 5. a. Discuss five **(5)** importance of a business plan in entrepreneurship *(10 Marks)* 5. b. Discuss three **(3)** main reasons for buying an existing business *(10 Marks)* ## END OF PAPER