WEDNESDAY: 3 August 2022. Afternoon paper. Time Allowed: 2 hours.
Answer ALL questions. Each question is allocated two (2) marks.
1. The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called?
A. Entrepreneurship.
B. Innovation.
C. Creativity.
D. Creative thinking (2 marks)
2. An entrepreneurial “secret” for creating value in the marketplace is?
A. Applying creativity and innovation to solve problems.
B. Creating new products and services.
C. Learning by doing.
D. Applying lessons learned from history. (2 marks)
3. Harvard’s Ted Levitt says that creativity is _____________ new things, and innovation is ______________ new things.
A. Thinking; doing
B. Doing; thinking
C. Seeing; doing
D. Thinking; applying (2 marks)
4. The ability to apply creative solutions to problems and opportunities to enhance or to enrich people’s lives is called?
A. Entrepreneurship.
B. Innovation.
C. Creativity.
D. Creative thinking. (2 marks)
5. Creativity often involves creating something from nothing. However, it is more likely to result in:
A. Elaborating on the present.
B. Putting old things together in new ways.
C. Taking something away to create something simpler or better.
D. All of the above (2 marks)
6. Entrepreneurship is a constant process that relies on:
A. Creativity, innovation, and profit.
B. The ability to win over the consumer.
C. Creativity, innovation, and application in the marketplace.
D. Intellectual property rights. (2 marks)
7. When developing creative solutions to modern problems, entrepreneurs must:
A. Go beyond merely using whatever has worked in the past.
B. Limit the creative process to only profitable ventures.
C. remember what has worked in the past.
D. Pay attention to limiting factors (2 marks)
8. A ________________ is a preconceived idea of what the world is, what it should be like, and how it should operate.
A. Innovation
B. Entrepreneur
C. Paradigm
D. Profitable vision (2 marks)
9. Research shows that anyone can learn to be creative. The problem is:
A. Many organizations fail to foster an environment that encourages creativity.
B. Most people never tap into their pools of innate creativity.
C. Most people have never been taught to be creative.
D. All of the above. (2 marks)
10. Research into the operation of the human brain shows that each hemisphere of the brain:
A. Develops symmetrically.
B. Controls similar functions.
C. Does not dominate the other hemisphere.
D. Processes information differently. (2 marks)
11. Which hemisphere of the brain is responsible for language, logic, and symbols?
A. Right hemisphere
B. Left hemisphere
C. Lateral hemisphere
D. Intuitive hemisphere (2 marks)
12. All of the following represent barriers to creativity that entrepreneurs impose upon themselves except:
A. Focusing on being too logical.
B. Being too practical.
C. Blindly following rules.
D. Searching for more than one answer. (2 marks)
13. Roger von Oech believes that blindly following rules leads to:
A. Order, which stimulates creativity.
B. A clearer vision and business venture.
C. New ways of doing things.
D. A mental block towards creativity. (2 marks)
14. Joseph Schumpeter wrote that entrepreneurs perform the vital function of:
A. Challenging accepted ways of doing things.
B. Creative destruction.
C. Revolutionizing current patterns of production.
D. All of the above (2 marks)
15. Entrepreneurs can stimulate their own creativity and encourage it among workers by:
A. Expecting and tolerating failure.
B. Avoiding problems.
C. Limiting rewards.
D. Not taking chances. (2 marks)
16. Which of the following is not one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers?
A. Provide creativity training
B. Encourage curiosity
C. View challenges as problems
D. Develop a corporate culture that both fosters and rewards creativity (2 marks)
17. Employees must be given the tools and resources they need to be creative. One of the most valuable resources is:
A. Providing challenges.
B. Rules and guidelines.
C. Time.
D. Money. (2 marks)
18. Hiring a diverse workforce:
A. Helps in enhancing organizational creativity.
B. Allows for different ideas and varying methods of problem solving.
C. Brings in people from different backgrounds, with different cultural experiences, hobbies, and interests.
D. All of the above (2 marks)
19. All of the following are enhancements to individual creativity except:
A. Keeping a journal to record thoughts and ideas.
B. Limiting your reading sources.
C. Taking time off.
D. Allowing yourself to be creative. (2 marks)
20. Which of the following is not an enhancement to individual creativity?
A. Listening to other people ideas
B. Exercising brain through playing games
C. Experimenting new products
D. Working without breaks until the project is complete or the problem is solved (2 marks)
21. Which of these stages of the creative process involve development of a prototype?
A. Mind planning
B. Preparation
C. Illumination
D. Verification (2 marks)
22. Which stage of the creative process requires one to develop a solid understanding of the problem or decision?
A. Investigation
B. Preparation
C. Illumination
D. Verification (2 marks)
23. The ability to see the similarities and the connections among various data and events is called:
A. Convergent thinking.
B. Divergent thinking.
C. Transformational thinking.
D. Illumination. (2 marks)
24. During the incubation phase of the creative process, the entrepreneur might do all of the following EXCEPT which one to let ideas “marinate” in his mind?
A. Do something totally unrelated for awhile
B. Relax and play regularly
C. Work on the problem or opportunity in a different environment
D. Don’t allow one’s self to daydream (2 marks)
25. At which stage of the creative process does a spontaneous breakthrough occur, allowing all of the previous stages to come together to produce the “Eureka factor” or the “light bulb goes on”?
A. Implementation
B. Preparation
C. Illumination
D. Verification (2 marks)
26. “Verification” refers to:
A. Validating the idea as accurate and useful.
B. Possibly conducting experiments, running simulations, test marketing a product or service.
C. Possibly asking questions such as “will it work?” And “is it really a better Solution?”
D. All of the above. (2 marks)
27. The focus of this step in the creative process is to transform the idea into reality.
A. Implementation
B. Preparation
C. Illumination
D. Verification (2 marks)
28. Which of these is not a “mental lock” that limit individual creativity?
A. Trying again and again after failure
B. Blindly follow the rules.
C. Become overly specialized.
D. Fear mistakes and failure. (2 marks)
29. The following are ways entrepreneurs can stimulate their own creativity and encourage it among workers except.
A. Embracing diversity.
B. Discouraging failure
C. Encourage curiosity.
D. View problems as an opportunity. (2 marks)
30. ______________________ take time to reflect on the information collected.
A. Illumination
B. Transformation
C. Incubation
D. Verification (2 marks)
31. What type of innovation is an Apple’s Iphone
A. Product Innovation
B. Process Innovation
C. Paradigm Innovation
D. Position Innovation (2 marks)
32. __________________is a type of innovation that occurs when a business introduces modest changes with time.
A. Product Innovation
B. Process Innovation
C. Incremental Innovation
D. Radical Innovation (2 marks)
33. Disruptive Innovation is _______________.
A. Good for companies using mature technology
B. Good for new start-ups using new technology
C. Good for companies with no knowledge of technology
D. Good for companies not willing to innovate (2 marks)
34. Radical innovation is also called________________
A. Incremental innovation
B. Conceptual innovation
C. Method innovation
D. Breakthrough innovation (2 marks)
35. Which among the choices is not a source of innovation?
A. Incongruities
B. Market changes
C. Business failure
D. Fashion and taste change (2 marks)
36. Which is the main aim of writing a business plan.
A. To set out clear goals for your start-up.
B. To get finance
C. To impress your mum
D. To make sure you know what you are doing. (2 marks)
37. Which section is completed last?
A. Finance detail
B. Marketing budget
C. About your business
D. Executive summary (2 marks)
38. The business goals and competitive advantages can be described by_______________
A. Mission statement
B. Objectives
C. Core values
D. None of these (2 marks)
39. In a business plan, you should describe your products and services and discuss the market that you are__________
A. Goaling
B. Aiming
C. Targeting
D. Goading (2 marks)
40. In business plan presentation, if you wish to interest investors, you need to emphasize the company’s profit ______?
A. Potential
B. Chance
C. Taking
D. Deal (2 marks)
41. ______________the strong and weak points of any firms in competition with yours and look for marketplace opportunities.
A. Compare
B. Investigate
C. Eliminate
D. Reject (2 marks)
42. SMART objective in business planning means:
A. Success, Measurable, Achievable, Realistic, Timed
B. Specific, Measurable, Achievable, Realistic, Timed
C. Smart, made-up, actual, real, true
D. None of these (2 marks)
43. In business planning, you should examine customer’s____________ and the benefits of your products and services.
A. Interest
B. Pockets
C. Returns
D. Needs (2 marks)
44. Which of these documents is not attached to the appendices in a business plan?
A. Copy of Lease agreement
B. Copy of trading certificate
C. Your birth certificates
D. Copy of tax compliance certificate (2 marks)
45. Which of the following remains at the center of any marketing process?
A. Target consumers
B. Product
C. Price
D. Promotion (2 marks)
46. ______________is involved in understanding marketing environment.
A. Marketing mix
B. Marketing audit
C. Customers analysis
D. SWOT analysis (2 marks)
47. Factors affecting Marketing Planning include
A. Internal Factor
B. National Factor
C. International Factor
D. All of the above (2 marks)
48. The external factors affecting the marketing plan include
A. Size of company
B. Target customers
C. Financial Resources of the company.
D. Channels of distribution (2 marks)
49. Which of the following is not an objective of a marketing plan?
A. Generate a unique selling proposition
B. Estimating the marketing return on investment
C. To attract more employees.
D. Identify SWOT (2 marks)
50. A marketing plan does not have to be
A. Simple
B. Complex
C. Clear
D. Relevant (2 marks)
