REGENT UNIVERSITY

COLLEGE OF SCIENCE AND TECHNOLOGY

EXAMINATION PAPER

END OF SEMESTER EXAMINATION

- APRIL, 2018

COURSE: ENTREPRENEURSHIP AND INNOVATION

CODE: SOMA 3513

TIME: TWO AND HALF HOURS

LECTURER: YAW BOADI APPIAH

Instructions: ATTEMPT QUESTION ONE AND ANY OTHER

THREE QUESTIONS
 ANSWER QUESTION ONE AND ANY OTHER 2. Evaluate the criteria to consider in establishing a business. (10
THREE QUESTIONS OF YOUR CHOICE. Marks)
CREDIT WILL BE GIVEN TO ORDERLY
3. Whilst defining, discuss at least, seven reasons why
PRESENTATION WITH CONTEMPORARY entrepreneurs must adopt Business Plans. (10 Marks)
PRACTICAL INSTANCES
4. Evaluate the factors to consider in choosing a legal structure
1. for your business. (10 Marks)
a. Explain what is meant by Partnership and discuss any five 5. Define a corporation and discuss four advantages and four
advantages and five disadvantages of Partnership. (10 disadvantages of corporations. (10 Marks)
Marks)
b. Mention the four-Question-Framework for business
models. (2 Marks)
c. What is meant by price sensitive? (1 Mark)
d. State any three benefits and three drawbacks of owning a
business. (3 Marks)
e. State any six functions of a business model. (3 Marks)
f. What is meant by cost pricing? (1 Mark)
g. State four differences between an entrepreneur and a
businessman. (2 Marks)
h. Define demand and supply and evaluate their four
implications regarding price. (4 Marks)
i. Differentiate between industrial and commercial business.
(1 Mark)
j. To make choices we have to answer three fundamental
questions. What are they? (3 Marks)