Subject: Entrepreneurship
Entrepreneurial Strategy Questions with Answers
Group A: Very Short Questions
1. (2023 Fall Q. No. 3) Enumerate the advantages of first movers.
Answer: The advantages of first movers are as follows:
i. Cost Advantage
ii. Less Competitive Rivalry
iii. Securing Important Channels
iv. Customer Satisfaction and Market Positioning
2. (2023 Fall Q. No. 4) Outline the major problems faced by the minority entrepreneurs in Nepal.
Answer: The major problems faced by the minority entrepreneurs in Nepal are as follows:
i. Limited markets
ii. Limited Access to Capita
iii. Discrimination and Bias
iv. Lack of education and training
3. (2023 Spring Q. No. 3, 2022 Fall Q. No. 7) Point out the risk reduction method of an enterprise.
Answer: The risk reduction method of an enterprise:
i. Diversification
ii. Imitation strategy
iii. Contract management
iv. Vendor and supply chain management
4. (2021 Sprinf Q. No. 2) What do you mean by risk reduction strategy?
Answer: A risk reduction strategy is a plan used by businesses to lower the chances of losing money or facing problems. It helps them handle potential challenges and stay successful.
5. (2019 Spring Q. No. 3, 2017 Fall Q. No. 3) Define new entry.
Answer: New entry means starting a business in a new market or launching a new product or service that wasn’t offered before. It’s about expanding into new areas to grow the business.
(2018 Fall Q. No. 8) Write any one risk reduction strategy.
Answer: One of the risk reduction strategies for new entry exploitation is the market scope strategy. It consists of:
i. Narrow Scope Strategy: Focuses on serving a specific customer group with a limited product line, allowing for specialization, reduced competition, and higher prices.
ii. Broad Scope Strategy: Involves offering a variety of products across different market segments, helping to reduce risks through diversification and learning from trial and error.
Group B: Descriptive Answer Questions
1. (2023 Fall Q. No. 11) What is Entrepreneurial strategy? As a BBA graduate aspiring to become an entrepreneur, what strategic approach would employ to mitigate risks for new entry exploitation? – Answer (Click Here)
2. (2023 Spring Q. No.13, 2019 Spring Q. No. 12, 2018 Spring Q. No.9) Explain the strategies of new entry exploitation with appropriate examples. – Answer (Click Here)
3. (2020 Fall Q. No. 15) As a successful entrepreneur of Nepal, you are planning to enter into the international market. Regarding this, explain the entrepreneurial entry strategies in the global scenario. – Answer (Click Here)
4. (2018 Fall Q. No. 11) Define new entry. Explain the new entry strategies.
Please refer to 2023 Spring Q. No. 13
5. (2017 Fall Q. No. 12) What is risk management? Explain insurance as a tool to mitigate the risk. – Answer (Click Here)
6. (2017 Fall Q. No. 16) If you are planning to be an entrepreneur after completing your BBA, what strategy would you adopt to reduce the risk for new entry exploitation?
Please see 2023 Fall Q. No. 11