UNIT II- AN ENTREPRENEUR

MULTIPLE CHOICE QUESTIONS

1. The concept of entrepreneurship is defined as the way a person feels about something – a
person, place, a commodity, a situation or an idea.
a) Values
b) Business Ethics
c) Creativity
d) Attitude

2. Identify the ethical behavior to be exhibited by an entrepreneur.

a) Paying the minimum and correct wages to the workers.
b) Using child labour in their production.
c) Irrational use of natural resources.
d) Providing poor quality of goods to customers.

3. Identify the core value that every entrepreneur must try to imbibe.
a) Have patience for the business.
b) Be flexible except with core values.
c) Self – Reliance
d) Rebound quickly from setbacks.

4. Opinion leaders are respected by their followers as they strongly influence their attitudes.
Which source of attitude is being discussed?
a) Direct personal experience
b) Influential others
c) Group Association
d) Ethics

5. Experimenting with new ideas for example introduction of debit cards and credit cards in
the banking sector exhibits which core value of an entrepreneur.
a) Innovation and Creativity
b) Independence or Self –Reliance
c) Respect for work
d) Quest for outstanding performance

6. One of the essential attitudes to be possessed by an entrepreneur is

a) Respect for work
 b) Quest for outstanding performance
c) Independence
d) Make timely decisions

7. Which among the following can be classified as competency of an entrepreneur?

a) Entrepreneurial Competency
b) Attitude
c) Motivation
d) Ethics

8. When best solution for the problem is opted and the need is fulfilled, which stage of
motivation process is discussed here
a. Tension
b. Drives
c. Unsatisfied need
d. Satisfaction of need

9. Gregarious creatures, human have a need to belong. In workplace, this need may be
satisfied by an ability to interact with one’s co-workers. Which need of Maslow’s
hierarchy of needs theory is discussed here?
a. Affiliation needs
b. Safety needs
c. Social needs
d. Ego and Esteem needs

10. The needs which are characterized by wish to take responsibility of finding solution to
problems in Mc Clellands theory of needs is known as
a. Power
b. Achievement
c. Affiliation
d. Self satisfaction
11. He is an inside entrepreneur, or an entrepreneur within a large firm, who uses
entrepreneurial skils without incurring the risks associated with those activities
a. Spontaneous entrepreneur
b. Induced entrepreneur
c. Intrapreneur
d. Technical entrepreneur

12. Searching for available options to solve the unmet need is termed as which stage of
process of motivation
a. Unsatisfied need
b. Tension
c. Search behavior
d. Reduction of tension
13. The need for food and water are classified under which need Maslow’s hierarchy of
needs theory
a. Self actualization needs
b. Social needs
c. Physiological needs
d. Ego needs
14. Hero Motocorp is which type of entrepreneur

a) Trading entrepreneur

b) Industrial entrepreneur

c) Corporate entrepreneur

d) Agricultural entrepreneur

15. Following is not a type of entrepreneur as classified by C. Danhof

a) Innovative entrepreneur

b) Imitative entrepreneur

c) Fabian entrepreneur

d) Technical entrepreneur
16. Whose profession is to establish business enterprises with a purpose to sell them?
Identify the type of entrepreneur

a) Induced entrepreneur

b) Professional entrepreneur

c) Motivated entrepreneur

d) Technical entrepreneur

17. These entrepreneurs inherit their family business through succession and pass it from one
generation to another

a) Second generation entrepreneur

b) First generation entrepreneur

c) Third generation entrepreneur

d) Motivated entrepreneur

18. These entrepreneurs enter into entrepreneurship because of job loss or inability to find a
suitable job according to their talent. Identify the types of entrepreneur

a) Induced entrepreneur

b) Motivated entrepreneur

c) Spontaneous entrepreneur

d) Professional entrepreneur

19. They are natural entrepreneurs of the society

a. Spontaneous

b. Induced

c. Motivated

d. Fabian

20. Self Actualisation lies under which of the following needs in the Maslows Hierarchy
Needs theory
a. Physiological needs
b. Psychololgical needs
c. Self Fulfilment needs
d. None of the above

ANSWERS FOR MCQ

1) D
2) A
3) C
4) B
5) A
6) D
7) A
8) D
9) C
10) B
11) C
12) C
13) C
14) C
15) D
16) B
17) A
18) A
19) A
20) C
 MATCH THE FOLLOWING
1. Match the following by identifying the terms associated with the types of entrepreneur.
(1) Spontaneous entrepreneur (a) Laggards

(b) Predecessors

(2) Drone entrepreneur (c) Aggressive

(d) Pure

2. Match the following by identifying the categories associated with the types of
entrepreneur.
(1) Business entrepreneur (a) On the basis of motivation

(b) On the basis of business

(2) Induced entrepreneur (c) On the basis of classification of C. Danhof

(d) On the basis of technology

3. Match the following by identifying the features associated with the types of entrepreneur.
(1)Trading entrepreneur
(2) Induced entrepreneur
(a) Those entrepreneur who are supported by the
government in term of financial assistance,
incentives, concessions etc.
(b) Those entrepreneur who are motivated by their
desires.
(c) Those entrepreneur who undertake trading
activities whether domestic or overseas.
(d) Those entrepreneur who manufacture and offer
services.

4. Match the following by identifying the categories associated with the types of
entrepreneur.
(1) Agricultural entrepreneur (a) On the basis of motivation

(b) On the basis of business

(2) Spontaneous entrepreneur (c) On the basis of classification of C. Danhof

 (d) On the basis of technology

5. Match the following by identifying the features associated with the types of entrepreneur.
(1) Industrial entrepreneur
(2) Motivated entrepreneur.
(a) Those entrepreneur who are supported by the
government in term of financial assistance,
incentives, concessions etc.
(b) Those entrepreneur who undertake trading
activities whether domestic or overseas
(c).Those entrepreneur who are motivated by their
desires.
(d) Those entrepreneur who manufacture and offer
services.

6. Match the following identifying Maslow’s need hierarchy needs theory

A.Safety needs I Need for water and ood
B.Ego and esteem needs II Need for self development
III Need for shelter and security
IV Need for self respect and self esteem

7. Match the following identifying Mc Clellands theory of needs

A. Achievement I Need for drive to control
B. Power II Need for desire to belong
III Need for enjoyment of team work
IV Need to master complex tasks
8. Match the following on the basis of reward of an entrepreneur and an employee.
A. Reward of Employee I Affection
B. Reward of entrepreneur II Salary
III Security
IV Profit

9. Match the following on the basis of qualification of an entrepreneur and an employee.

A. Qualification of an employee I Originality in thinking
B. Qualification of an entrepreneur II Qualification as per status such as CA
for Accountant
III Excitement
IV Freedom

10. Match the following identifying the founders of the following theories.
A. Maslow’s Hierarchy Needs Theory I Gifford Pinchot
B. Intrapreneurship II David Mc Clelland
III Abraham Maslow
IV Richard Cantillon

11. Match the entrepreneurial competencies with their features.

A. Initiative I. Should be able to guide and motivate his/

B. Leadership her team.
II. Should tread into areas of uncertainty.
III. Should take first step in the enterprise
IV. Should be able to develop new ideas.

12. Match the attitudes of an entrepreneur with their meanings.

A. Believe in oneself I. Learn from the setbacks and move on.

B. Make timely decisions II. One needs to believe in one’s own self.
III. Use one’s intuition.
IV. One should take care of oneself.
13. Match the core values to be possessed by an entrepreneur along with their
meanings.

A. Innovation I. Great respect for work.

B. Creativity II. Quest for outstanding performance.
III. Ability to see new ways of doing things.
IV. Ability to make work in practice.

14. Match the entrepreneurial competencies with their meanings.

A. Enterprise I. Entrepreneurs have to perform crucial

Launching management functions
Competencies II. Entrepreneurs should identify the resources
B. Enterprise needed to launch their enterprises.
Management III. Behavior exhibited in performing various
Competencies tasks by an entrepreneur.
IV. An entrepreneur should always take first step.

15. Match the features of Attitude with their meanings.

A. Attitudes are I. Attitudes are gradually learnt over a period of

pervasive time.
B. Attitudes are II. Attitudes may relate to anything in the world.
acquired III. An attitude is a psychological phenomenon
which cannot be directly observed.
IV. Attitudes can lead to intended behavior.

ANSWERS
1. (1)-(d), (2)-(a)
2. (1)-(b), (2)-(a)
3. (1)-(c), (2)-(a)
4. (1)- (b), (2) - (a)
5. (1)- (d), (2) - (c)
6. A-III, B-IV
7. A-IV,B-I
8. A-II,B-IV
9. A-II,B-I
10. A-III,B-I
11. A- III B- I
12. A- II B- III
13. A-IV B- III
14. A- II B- I
15. A- II B-1
 FILL IN THE BLANKS

1. The lowest level need in Maslow’s Hierarchy Needs Theory of motivation is termed as
____________________.
2. The theory of motivation based on the assumption that people are motivated by a series
of five universal needs is given by ____________________.
3. The highest level need in Maslow’s hierarchy needs theory of motivation is termed as
_________________________.
4. Belongingness and Love needs are part of ____________________ needs of Maslow’s
hierarchy theory of motivation.
5. David Mc Clelland’s theory of needs states the the people are driven by achievement,
affiliation and ______________ motives.
6. The reward of an entrepreneur for bearing risk in the enterprise is termed as
________________.
7. A/an ______________________is the owner of the enterprise.
8. The person who enters a venture with capital funding and resources from employer
company is known as_______________________.
9. The person whose job is to render one’s service in an enterprise set by someone else is
called ___________________.
10. Employee is required to possess qualification according to the s___________ provided to
him in the enterprise.
11. Prestige and feeling of accomplishment leads to _____________________ level in
Maslow’s needs hierarchy theory.
12. The term Corporate Entrepreneur was coined by ______________.
13. The fulfillment of employment security depicts ________________ stage of Maslow’s
needs hierarchy theory.
14. ______________________ provides a structured guide enabling the identification,
evaluation and development of the behavior in an entrepreneur.
15. Beliefs that guide actions and judgments across a variety of situations are called
_____________.
16. The __________________ core value possessed by an entrepreneur gives great
satisfaction in their sense of ownership.
17. The study and development of one’s ethical standards is known as
_____________________.
18. _______________________ is the ability to see new ways of doing things which is
considered to be a core value of an entrepreneur.
19. The core value of an entrepreneur which includes the ability to make things work in
practice is known as _____________________.
20. The psychological attribute of entrepreneurs which shape their behavior is known as
____________________.
21. The information Seeking Competency can be achieved by an entrepreneur by conducting
________________ and using feedback.
22. Attitude is acquired from three different sources such as ______________, group
associations and influential others.
23. The entrepreneurial competency which an entrepreneur must possess to be able to guide
and motivate his /her team is _________________________.
24. Peer group and family members affect a person’s attitudinal development that exhibits
___________________ source of attitude.

25. Corporate Governance is a part of ______________________.

26. ___________ generation entrepreneurs start their industrial unit by means of their own
innovative skills and expertise.
27. Entrepreneurs which are very shy and lazy are known as-------------------
28. Those entrepreneurs who undertake agricultural, as well as allied activities in the field of
agriculture are known as ____________
29. Spontaneous entrepreneurs are known as_____________.
30. Entrepreneurs motivated by their desire to make use of their technical and professional
expertise and skill in performing the job are known as___________
31. Those types of entrepreneur where in their grandparents and parents have been
entrepreneurs and they have inherited the business are called as __________.
32. Entrepreneurs which make a profession to establish business enterprise with the purpose
to sale them once they are established are known as ___________.
33. .____________ entrepreneurs enter into entrepreneurship because of various
governments till supports like in sentence concessions and other facilities.
34. Those entrepreneurs who comment their family business through succession and
inheritance are known as__________
35. Entrepreneurs who manufacture product and offer services which have an effective
demand in the marketing are known as_________.
 36. Entrepreneurs who control a corporate undertaking very effectively & efficiently are
known as___________.
37. The ______________ entrepreneurs are those entrepreneurs, who refuses to copy or use
opportunities that come their way.
38. Technical entrepreneur concentrate more on _____________ than marketing.
39. Drone entrepreneurs are also known as-------------------
40. The type of entrepreneur who are adaptive and flexible are called -------------------

ANSWERS
1. Physiological Needs
2. Abraham Maslow
3. Self Actualisation Needs
4. Social Needs
5. Power
6. Profit
7. Entrepreneur
8. Intrapreneur
9. Employee
10. Status
11. Esteem Needs
12. Gifford Pinchot
13. Safety Needs
14. Competency
15. Values
16. Business ethics
17. Ethics
18. Creativity
19. Innovation
20. Attitudes
21. Research
22. Direct personal experience
23. Leadership
24. Group association
25. Business ethics
26. First generation entrepreneur
27. Fabian entrepreneur
28. Agricultural entrepreneur
29. Pure entrepreneurs
30. Motivated entrepreneurs
31. Third generation entrepreneur
32. Professional entrepreneur
33. Induced entrepreneurs
34. Inherited entrepreneur
35. Industrial entrepreneur
36. Corporate entrepreneur
37. Drone entrepreneurs
38. Production
39. Laggards
40. Imitative

TRUE OR FALSE:

1. In Maslow’s Hierarchy needs theory, safety needs comprises of desire for self-respect and
self esteem.
2. The need for power in Mc Clellands theory of needs is characterized by a drive to control
and influence others.

3. Esteem needs are part of Mc Clellands theory of needs.

4. Ego and esteem needs in Maslow’s theory include desire for self respect and self-esteem.
5. In Mc Clelland’s theory of needs, the need for affiliation is characterized by the need for
shelter and security.
6. Self- Actualization needs in Maslow’s Hierarchy theory is also known as achievement
needs.
7. On the basis of status an employee is the servant in the enterprise owned by entrepreneur.
8. On the basis of rewards, an employee gets rewarded by an entrepreneur with salary for
rendering services.
9. An intrapreneur is a person who is known as inside entrepreneur.
10. Intrapreneurs are the people who use entrepreneurial skills without incurring the risks
with those activities.
11. The process of motivation starts with Tension.
12. The best way to retain talented staff in an organization is Intrapreneurship.
13. When employees become an entrepreneur within the organization with all the support
from the company are known as Professional entrepreneurs.
14. One of the core value s possessed by an entrepreneur is motivation.
15. The set of beliefs that provide standards which guide behavior is known as attitude.
16. One of the entrepreneurial competencies is the concern for the standards and quality of
work.
17. Dynamic entrepreneurs are guided by the values of outstanding performance.
18. Honesty, Compassion and Loyalty are the components of ethical standards.
19. People are not influenced in terms of attitude change by other members in a group to
which they belong.
20. Attitude determines what people consider to be good or bad for a civilized society.
21. Self- Reliance is one of the core values to be possessed by an entrepreneur.
22. Opinion leaders do not influence attitudes and purchase behavior of followers.
23. Group Associations are considered to be one of the sources of acquiring attitude.
24. The systematic planning competency requires an entrepreneur to develop a detailed
blueprint before putting the whole enterprise into operation.
25. Attitudes are acquired from various sources like Direct personal experience, Group
Association and Influential others.
26. Enterprise Launching Competencies demands management abilities on the part of its
entrepreneurs.

27. Drone entrepreneurs are also known as pure entrepreneurs.

28. 2. Non technical entrepreneurs are comparing to crafts men who concentrate more on
production than marketing.
29. 3. Innovative entrepreneurs are aggressive in nature who exhibit cleverness in putting
attractive possibilities into practice.
30. 4. Spontaneous entrepreneurs undertake activities for their personal satisfaction in work,
ego or status.
31. 5. Entrepreneurs who undertake trading activities whether domestic or overseas are
reading entrepreneur.
32. 6. Fabian entrepreneurs are termed as laggards.
33. 7. Third generation entrepreneurs and not having any entrepreneurial background.
34. Professional entrepreneurship established business enterprise with the purpose to sale
them once they are established.
35. Motivated entrepreneurs are induced or even force by their special circumstances such as
a loss of job to adapt to entrepreneurship.
36. They are promoters of the undertaking ok Corporation engaged in business trade or
industry
37. Third generation type of entrepreneur is very commonly found in India.
38. Spontaneous entrepreneurs are natural entrepreneur in the society.
39. Induced entrepreneurs are motivated by their desire to make use of their technical and
professional expertise in performing the job.
40. Safety needs comprises of Shelter and security.
41. The third stage in the motivation process is Tension.
42. The non-technical entrepreneurs are mainly concerned with production than marketing.
 43. Walt Disney is an Innovative Entrepreneur.
44. Competency is a set of defined behaviors that provide a structured guide enabling the
identification, evaluation and development of the behaviors in individuals.
45. Entrepreneurs are employees within a company who are assigned special ideas or project
by providing the resources which are at the disposal of the firm.

ANSWERS
1. FALSE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
6. FALSE
7. TRUE
8. TRUE
9. TRUE
10. TRUE
11. FALSE
12. TRUE
13. FALSE
14. FALSE
15. FALSE
16. TRUE
17. TRUE
18. TRUE
19. FALSE
20. FALSE
21. TRUE
22. FALSE
23. TRUE
24. TRUE
25. TRUE
26. FALSE

27. FALSE
28. FALSE
29. TRUE
30. TRUE
31. TRUE
32. FALSE
33. FALSE
34. TRUE
35. FALSE
36. TRUE
37. TRUE
38. TRUE
39. FALSE
40. TRUE
41. FALSE
42. FALSE
43. TRUE
44. TRUE
45. FALSE