1. Which of the following is an example of industrial transformation?
High-speed rail
Electric vehicles
Lead-free fuel
None of the above
Answer :- Electric vehicles
2. An entrepreneur who revels in creating new businesses continuously may be called:
Creator of serial entrepreneurial ventures
Destroyer of existing businesses
Continuous investor
None of the above
Answer :- Creator of serial entrepreneurial ventures
3. Which of the following industries has seen mortality of start-ups or entrepreneurial firms over the last two decades?
Telecommunications
Aviation
Both (a) and (b)
Neither (a) nor (b)
Answer :- Both (a) and (b)
4. A start-up typically starts with:
Putting a product in the market
Discovering a problem and defining a solution
Changing a business model
None of the above
Answer :- Discovering a problem and defining a solution.
5. Having a co-founding team provides the advantages of:
Complementary skills
Shared responsibilities
Potential leadership transitions
All of the above
Answer :- All of the above
6. Entrepreneurship is common with start-up in terms of:
Starting with meagre resources
Taking risks
Neither (a) nor (b)
Both (a) and (b)
Answer :- Both (a) and (b)
8. Entrepreneurial firms seek to :
Create new products and/or markets
Create market wealth
Disrupt existing businesses
Any or all of the above
Answer :- Any or all of the above.
8. An entrepreneur who enters the market to create a firm, leaving formal employment is called:
Innovative entrepreneur
Replicative entrepreneur
Opportunity entrepreneur
Necessity entrepreneur
Answer :- Opportunity entrepreneur
9. As per the MSME classification of Government of India, a product firm with an investment less than or equal to Rs 25 lakhs in plant and machinery is called
Micro enterprise
Small enterprise
Medium enterprise
Nano enterprise
Answer :- Micro enterprise
10. An infrastructure that helps entrepreneurs in their early stage of the startup life cycle with plug and play facilities and other common services is called:
Incubator
Accelerator
Angel investment platform
Venture capital platform
Answer :- Incubator
11. The value chain of a start-up firm tends to get built in reality based on:
Aspirations that the firm would like to have
Competencies that the firm builds
Emotions that bind the founders
The perceptions of investors
Answer:- Competencies that the firm builds
12. Holistic prototype development requires:
A clear understanding of the problem that is being solved
A creative solution to address the problem
Design and manufacturing capability
All of the above
Answer:- All of the above
13. BDC entrepreneurial potential self-assessment considers:
Only motivations
Only aptitudes
Only Attitudes
All the above three
Answer:- All the above three
14. In MBTI personality typology, every participating person is assessed on:
16 opposing pairs of personality traits
4 opposing pairs of personality traits
2 opposing pairs of personality traits
8 opposing pairs of personality traits
Answer:- 4 opposing pairs of personality traits
15. The success of many start-ups such as RedBus, Swiggy, Airbnb, Uber and ‘make my trip’ was based on:
Treating demand and supply separately
Focussing only on demand
Focussing only on supply
Aggregating and linking demand and supply digitally
Answer:- Aggregating and linking demand and supply digitally
16. What would turn out to be the risks of prototype development?
Improper identification of the problem
A solution misaligned to the problem
Dependence on obsolete technologies and components
Any or all of the above
Answer:- Any or all of the above
17. Paperboat is an Indian startup that succeeded with a thematic grid that combined:
Ethnic Indian beverages with Ethnic Indian packaging
Global beverages with Ethnic Indian packaging
Ethnic Indian beverages with Contemporary modern packaging
Global beverages with Global packaging
Answer:- Ethnic Indian beverages with Ethnic Indian packaging
18. The fundamental and the first step of design thinking is:
Designing a product or service
Empathising with the customer
Prototyping
Coming up with a solution independent of customer
Answer:- Empathising with the customer
19. A true design thinking and ideation exercise involves:
Accepting the status quo
Questioning the basics
Relying on experts
None of the above
Answer:- Questioning the basics
20. For any start-up idea to fully succeed the following must be fulfilled:
Desirability for the customer
Feasibility for the company
Viability for the customer and the company
All of the above
Answer:- All of the above