Important Entrepreneurship development MCQ questions and answers: If you are looking for Multiple Choice Questions on Entrepreneurship Development and Startup, then you are at the right place.
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Top 25 Entrepreneurship development MCQ questions and answers
1. How long from the date of inception will an entity be called as ‘startup’ in India?
Up to 5 years
Up to 7 years
Up to 10 years
Up to 12 years
2. Which of the following outcomes will be delivered by successful entrepreneurs?
Product-market expansion and/or segmentation
Digital reinvention of basic products and/or services
Fundamental transformation of industries
Any or all of the above
3. For success of an entrepreneurial business, which of the following is required?
Vision
Strategy
Execution
All of the above
4. Which of the following is an entrepreneurial brand of recent times in India?
Thyrocare
Whirlpool
ITC
ABB
5. What could turn out to be risks of an entrepreneurial venture?
Product failure
Business failure
Concept failure
Any or all of the above
6. An entrepreneur who enters the market with a product or service which is based on new technology is called:
Innovative entrepreneur
Replicative entrepreneur
Opportunity entrepreneur
Necessity entrepreneur
7. A working model of the start-up product is confirmed as meeting the specifications typically in the:
Ideation stage
Prototyping stage
Testing stage
Marketing phase
8. Significant value destruction by entrepreneurial ventures, including bankruptcies, happened in the following industry in India:
Automobile industry
Corporate hospital industry
Banking industry
Airlines industry
9. The planned pathway to convert a vision into reality is called:
Strategy
Stage-gating
Tactics
Financing
10. To achieve customer acceptance, the entrepreneur must:
Identify the problem faced in the marketplace and find a creative solution
Identify the problem faced in financing for the project and raise finance
Identify ideas that qualify for government support and implement them
Identify good talent and build an organisation
11. For start-up success, the following must be a core competence:
Innovation and Creativity
Managing Government relations
Managing public relations
Managing banks
12. What is the stage that immediately follows ideation in an entrepreneurial journey?
Prototyping
Testing
Validation
Commercialisation
13. Choose the comprehensive answer for this question: Digital reinvention of customer service processes is exemplified by:
Amazon
Swiggy
Shadi.com
All of the above
14. Bitcoin is an example of:
Coin minting technology
Blockchain technology
Replacing currency notes by coins
None of the above
15. An infrastructure that helps entrepreneurs in their early stage of the start-up life cycle with plug and play facilities and other common services is called:
Incubator
Accelerator
Angel investment platform
Venture capital platform
16. Which of the following frameworks is associated with start-up entrepreneurship, especially in the phase of solution architecture, to a greater degree?
Product
Manufacturing process
Government
Design thinking
17. Which of the following best describes ‘bootcamp’ as a way of encouraging start-ups?
A camp organized by the banks for financing start-ups
A buyer-seller camp
A camp outing for the stressed entrepreneurial team
A short, intense, and tough programme for start-up entrepreneurs
18. 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
19. Some of the new digital start-up ideas are being driven by:
Sensitivity
Sensibility
Selectivity
Sensors
20. In the electric battery prototyping, which of the following technology factors could exert the greatest influence?
Materials
Automobile shape
Machining
Assembly
21. A prototype ecosystem is the microcosm of the industrial ecosystem comprehensively because:
A prototype requires the full value chain activities
A prototype requires design and manufacturing facilities
A prototype requires vendors and suppliers
All of the above
22. Before embarking on an entrepreneurial journey, one must be introspective about:
Others’ entrepreneurial successes role models
One’s own entrepreneurial passion and capability
Others’ professional successes
None of the above
23. Exhibit Batch is a term commonly used in the product approval processes in:
Whitegoods industry
Automobile industry
Pharmaceutical industry
None of the above
24. Name a “psychic benefit” commonly felt by successful entrepreneurs:
A belief that they are differentiated and distinctive
The physical evidence of revenues
The physical evidence of market share
None of the above
25. Which of the following is probably true in respect of entrepreneurs?
Entrepreneurs could be characterized by either extraversion or introversion
Entrepreneurs need not necessarily be formally educated or highly skilled
Neither a nor b is true
Both a and b are true
No, the answer is incorrect.
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Dr. Sunny is an Assistant Professor in higher education. He has completed his Ph.D. He has a depth of knowledge in the research field and in higher education.