g University of _—s-fidoret UNIVERSITY EXAMINATIONS 2022/2023 ACADEMIC YEAR REGULAR EXAMINATION FOR THE DEGREE OF BACHELOR OF BUSINESS AND MANAGEMENT SCIENCES COURSE CODE: BSEN 311 COURSE TITLE: ENTREPRENEURSHIP & VENTURE CREATION DATE: 16™ DECEMBER 2022 TIME: 9.00 A.M. - 12.00 NOON a ::2:70 OO eW INSTRUCTIONS TO CANDIDATES « SEE INSIDE ‘THIS PAPER CONSISTS OF (3) PRINTED PAGES. PLEASE TURN OVER University of Eldoret is ISO 9001:2015 CertifiedUNIVERSITY OF ELDORET SCHOOL OF BUSINESS AND MANAGEMENT SCIENCES DEPARTMENT OF BUSINESS MANAGEMENT ACADEMIC YEAR 2022/2023 ; EXAMINATION FOR THIRD YEARS SEMESTER ONE : COURSE TITLE: ENTREPRENEURSHIP AND VENTURE CREATION a COURSE CODE: BSEN 311 Instructions: ‘Answer question ONE and any other THREE questions Time allowed: 3 hours QUESTION ONE (25marks) Read the case below and answer the questions that follow: TO STAY OR TO GO? Mary Hunter has been a sales representative for a large computer firm for seven years. She took the Job alte graduating from the university, where she majored in computer science. Recently, she has been thinking about leaving the company and starting-her-own business. Her knowledge of the Com Outer Feld would put her in an ideal position to be a computer consultant, Mary understands like to introduce computer technology but do not know how.to do so. The large manufacturers, such dence One fo" which she works, are more interested in selling hardware than in helping thet cients Gevelon_afully integrated company-wide computer system. Small consulting firms have to be brought in to do this. Mary feels that, as a consultant, she not only would be able to cualuate & fomputers effectiveness but also would know how to set up the machines to provide maximums Benefit for the company. Mary estimates that, if she were to leave the computer firm tomo she could line up ten clients immediately. This would provide her with sufficient income for sie momate fhe is sure that during this period, she would have litle difficulty getting more clients, Sic of these Cams are located on the East Coast, two of them are in the Midwest, and the remaining two are California. She estimates that it would take about two weeks to instal a system and have it working, and it would take another two days to correct any problems that occur later. These problems woul pe handled during a follow-up vst, usually 10 to 24 days after the intial installation and setup: The idea of starting her own venture appeals to Mary. However, she js not sure she wants to leave her Job and assume all of the responsibilities associated with running her own operation. Before going any further, she has decided to evaluate her own abilties and desires to determine whether this © the right career move for her. But its also apparent that she will need a TEAM of other individuals to work with going forward; this will guarantee her good success, a) Identify five major characteristics that Mary should have if she hopes to succeed in this new venture (Smarks) ©») Explain ANY five reasons why Mary and a growing number of people are leaving paid employment for entrepreneurship (Smarks) ¢) Advise Mary on the kind of TEAM she requires to guarantee her success in her venture (Smarks) 4) Elucidate any challenges Mary is likely to face if she decides to enter into the start-up venture (Smarks) ©) Advise Mary why she needs to be innovative as per Joseph Alois Schumpeter’ theory in this new career path (Support your answer) (Smarks) DEPARTMENT OF BUSINESS MANAGEMENT-—SBUSQUESTION TWo (15MaRKs) entrepreneurship development (3 marks) ©) Why is important for entrepreneurs to Prepare a business plan and how can such a document be Of assist entrepreneurs in Sourcing funds for businesses? (7marks) QUESTION THREE (15MARKS) Describe five such factors (Smarks) 5) Briefly outline the major stages of the entrepreneurial process (6marks) ®) Explain any three dimensions ofthe entrepreneurial orientation (4marks) ‘QUESTION FouR (15MARKS) a) Describe the role of entrepreneurship in the economic development in Kenya (Smarks) 5). How can the Entrecomp Framework, which was established by the European Commission be ‘eplicated in the developing world to foster entrepreneurship (Smarks) <)- Explain the role ofthe Kenyan government in developing entrepreneurship (Smarks) \QUESTION Five (15MARKS) 2) Describe four forms of intellectual property that can be granted Protection to the owners against any infringement by the others (amarks) 5) Citing relevant examples, discuss the major challenges faced by entrepreneurs in Kenya(Smarks) ¢) Analyze the role of creativity and innovation in entrepreneurship development (Gmarks) DEPARTMENT OF BUSINESS MANAGEMENT--SBUS