GST301 TMA2 ANSWERS

Q1 The scanning of the business environment so as to identify the favourable and unfavourable conditions

therein is ……………………………

SWOT analysis

Externl evaluation

Internal Evaluation

Market analysis

Q2 Entrepreneur can assess the external environment of the business by critically looking at the

……………….

opportunities and strengths

opportunities and threats

opportunties and weaknesses

Weaknesses and threats

Q3 The support systems that facilitate entrepreneurship process listed here are ………………

Seven

Six

Five

Four

Q4 The environment in the borderline between internal and external environment is ……………….

General

Remote

Close

Intermediate

Q5 The environment that recognizes the customs, traditions and value of the community is known as

………………….

Demographic

Sociocultural

Technology

Historical

Q6 The body of regulations and laws can be classified under the

Political/Legal envioronment

Sociocultural

environment

Technological environment

Demographic environment

Q7 Which of the following question will be answered in a business plan under organisation?

What products or services will you sell?

Who are your potential customers?

How will you promote sales?

Who will manage the business?

Q8 The stage at which group tends to tackle obstacles and conflicts is known as ……………

Forming stage

storming stage

Initial Integrati on

Total Integration

Q9 The theory that stated that the more activities persons share, the more numerous will be their

interaction and the stronger will be their sentiments is……….

Balance theory

George Hanma us theory

Exchange theory

Propinquity theor y

Q10 ………………. Is described as the oneness of the group member .

Cohesiveness of group

Independence of group member

Group Composition

Group Norms

Q11 When a group is created by formal authority of an organization to transform resources inputs into

product outputs, such group is known as ……..

Work group

Informal gro up

Unofficial grou p

Psychological gr oup

Q12 Two or more people who interact and coordinate their work to accomplish a specific goal can be

regarded as ……..

A team

Friends

Allied

None o f the above

Q13 Effective teams must possess the following characteristics except …………

team identity

competent tea m members

mistrust among team mem bers

mutual trust among team memb ers

Q14 Relevant issues in team building include all except ……….

Cohesiveness

Goal Specific ation

Independence

Interdependen t

Q15 A formal team can be found in ………………….

officially designed organizational structure

unofficially designed organizational structu re

the previously designed organizational structu re

All of the above

Q16 A team with different levels of hierarchy can be regarded as……….

Horizontal team

Vertical team

Special Purpo se team

Football team

Q17 One of the major documents of incorporation is …………………..

article of partnership

Partnership agreemen t

memorandum of assoc iation

memorandum of incorporatio n

Q18 One of the differences between the public and private limited companies is …………………..

the minimum number of owners

the maximum number of owners

limited liability

unlmited liabilit y of owners

Q19 The uniqueness of private limited company is that the investors have …………………..

limited liability

minimum of tw o person to start the business

shares are publicly subscribed

Restrictions on the transfer of shares

Q20 The general partners have ………………..

limited liability

Unlimited liabil ity

participate in the d ay to day running of the business

b and c