Subject: Entrepreneurship
Identifying and Analyzing Opportunities Questions
Group A: Very Short Answer Questions
1. (2023 Fall Q. No. 6) Mention the benefit of Turn-Key projects.
Answer: The benefits of Turn-Key projects are as follows:
i. Time-Saving
ii. Risk Reduction
iii. Efficiency
2. (2023 Spring Q. No. 5) How is a turnkey project different from a licensing agreement?
Answer: A turnkey project is different from a licensing agreement. A turnkey project delivers a complete operational system, while a licensing agreement grants rights to use intellectual property without full transfer.
3. (2022 Fall Q. No. 4, 2017 Fall Q. No. 5) Write any three barriers to international trade.
Answer: The major three barriers to international trade are as follows:
i. Tariffs
ii. Trade Quotas
iii. Intellectual Property Protection
4. (2021 Spring Q. No. 10) List out the different entry modes for international entrepreneurship.
Answer: The different entry modes for international entrepreneurship:
i. Exporting
ii. Licensing
iii. Franchising
iv. Joint venture
v. Foreign direct investment
5. (2021 Spring Q. No. 8) What are Turnkey Projects?
Answer: Turnkey projects are when a contractor handles all aspects of a project, from design to completion, delivering a fully ready-to-use product. The client only needs to “turn the key” to start using it.
6. (2019 Spring Q. No. 8, 2017 Fall Q. No. 9) What do you mean by opportunity assessment plan?
Answer: An opportunity assessment plan is a process where entrepreneurs evaluate a business idea or opportunity to determine if it’s worth pursuing. It involves analyzing the market, competition, potential risks, and the resources needed to make the idea successful.
7. (2019 Fall Q. No. 5) Outline the key characteristics of an international entrepreneur.
Answer: The key characteristics of an international entrepreneur are as follows:
i. Global Vision
ii. Cultural Awareness
iii. Cultural Awareness
iv. Innovation
v. Adaptability
8. (2018 Spring Q. No. 7) Explain the four major sources of information for start-up new business.
Answer: The major sources of information for start-up new business are as follows:
i. Market Research
ii. Past work experience
iii. Hobbies and Interests
iv. Networking and Mentors
9. (2018 Fall Q. No. 3) Explain the term “turnkey projects.”
Please see 2021 Spring Q. No. 8
10. (2018 Fall Q. No. 7) Define the term merger and take over.
Answer: A merger is when two companies combine to form one larger company. This is usually done to increase business strength and market reach.
A takeover happens when one company buys another company to control it. The company being bought may not always agree to the takeover.
11. (2018 Fall Q. No. 10) Write down the 5 steps approach for foreign market selection.
Answer: The 5 steps approach for foreign market selection are as follows:
i. Develop indicators
ii. Collect reliable data
iii. Analyze the data
iv. Assess market risks
v. Select market
Group B: Descriptive Answer Questions
1. (2023 Fall Q. No. 13) Describe the factor motivating the entrepreneurs to go global. – Answer (Click Here)
2. (2023 Spring Q. No. 15) What are the strategies for expansion and growth of business in the global area? – Answer (Click Here)
3. (2022 Fall Q. No. 14) For the development of entry strategy of global entrepreneurs, what assumptions or implications should be taken into consideration? – Answer (Click Here)
4. (2021 Spring Q. No. 15) What are the differences between Strategic Alliance and Joint Ventures? Discuess. – Answer (Click Here)
5. (2019 Spring Q. No. 17) Do you see any differences between doing business in your home country and abroad? Explain with considering a suitable example. – Answer (Click Here)
6. (2019 Fall Q. No. 15) As an entrepreneur, how would you select and enter into the foreign market? Explain with suitable examples
Answer: Method of Entry into Foreign Markets
Please See 2023 fall Q. No. 13
7. (2019 Fall Q. No. 17) Explain the nature and significance of international entrepreneurship. Do you see any differences between domestic and international entrepreneurship? if yes, explain with a suitable example. – Answer (Click Here)
8. (2018 Spring Q. No. 15) What are the strategies for expansion and growth? Briefly explain the challenges and opportunities of the global expansion of business.
Answer: Strategies for expansion and growth – Please see 2023 Spring Q. No. 15
Challenges and opportunities of the global expansion of business – Answer (Click Here)
9. (2018 Fall Q. No. 16) Explain how does internal and external environment affects the functioning of an entrepreneur. – Answer (Click Here)