Quiz 1 for MANU 4211& MFGA 4210

Which of the following best defines entrepreneurship?

• Working as an employee in a business corporate environment

• Taking risks to start and manage a business venture or innovate within an existing one

• Studying business theories in academic institutions

• Following conventional career paths in established industries

What does "ideation" refer to in the context of entrepreneurship? a) The process of coming up with ideas for new products or services b) The legal protection of intellectual property c) Generating profit from existing ideas d) Identifying potential markets for a business venture

• The process of coming up with ideas for new products or services

• The legal protection of intellectual property

• Generating profit from existing ideas

• Identifying potential markets for a business venture

Which of the following is NOT a necessary step for business registration in Malaysia?

• Choosing a business structure

• Obtaining a trade license

• Registering with the Companies Commission of Malaysia (SSM)

• Hiring a lawyer to represent the business

Which of the following represents a broad categorization of the types of entrepreneurship?

• Social entrepreneurship

• Corporate entrepreneurship

• Serial entrepreneurship

• All of the above

Which of the following statements accurately describes the broad categorization of types of entrepreneurship within the realm of technology entrepreneurship?

• Incremental entrepreneurship focuses on small, incremental improvements to existing products or services.

• High-growth entrepreneurship involves creating entirely new markets and disrupting existing industries with innovative technologies.

• Lifestyle entrepreneurship prioritizes work-life balance and personal fulfillment over rapid growth and scalability.

• None of the above

• All of the above

Which of the following is not a type of entrepreneurship?

• Social entrepreneurship

• Intrapreneurship

• Industrial entrepreneurship

• Conventional entrepreneurship

Which of the following is a key difference between engineer competency and entrepreneur competency?

• Engineering competency focuses on technical skills, while entrepreneurial competency emphasizes business acumen.

• Both engineer and entrepreneur competencies prioritize technical expertise equally.

• Engineer competency prioritizes innovation, while entrepreneur competency focuses on following established procedures.

• Entrepreneur competency primarily involves problem-solving within a defined scope, while engineer competency involves broader strategic planning.

Who is credited with creating the Business Model Canvas?

• Larry Page

• Sergey Brin

• Alexander Osterwalder

• Sam Altman

Which of the following best describes the core principle of the Lean Startup methodology?

• Prioritizing extensive product development before launching to ensure it meets all customer needs.

• Building a minimum viable product (MVP) quickly to gather feedback and validate assumptions.

• Relying solely on intuition and assumptions rather than data-driven decision-making.

• Implementing all features and functionalities at once to provide a comprehensive solution.

Which of the following is a typical step in the process of business registration?

• Creating a marketing plan

• Securing funding from investors

• Selecting a business structure

• Hiring employees