week 1

Question 1

How long from the date of inception will an entity be called as ‘startup’ in India?

Answer 1

Up to 10 years

Question 2

Which of the following outcomes will be delivered by successful entrepreneurs?

Answer 2

1,Product-market expansion and/or segmentation
2.Digital reinvention of basic products and/or services
3.Fundamental transformation of industries
(ans: all of the above)

Question 3

For success of an entrepreneurial business, which of the following is required?

Answer 3

Vision, Strategy and Execution
(ans: all of the above)

Question 4

Which of the following is an entrepreneurial brand of recent times in India?

Answer 4

ITC

Question 5

What could turn out to be risks of an entrepreneurial venture?

Answer 5

1.Product failure,
2.Business failure
3.Concept failure
(ans: all of the above)

Question 6

Typically, which of the following is a trigger for an individual to pursue entrepreneurship?

Answer 6

1. Certain unique core competencies of the person
2. The potential to develop a new product or service for the customers

Question 7

Dedicated infrastructure that supports a start-up in the early stage of the startup life cycle is found in:

Answer 7

Incubator

Question 8

Which of the following industries has seen mortality of start-ups or entrepreneurial firms over the last two decades?

Answer 8

1. Telecommunications
2. Aviation

Question 9

A start-up typically starts with:

Answer 9

Discovering a problem and defining a solution

Question 10

Entrepreneurial firms seek to:

Answer 10

1.Create new products and/or markets
2. Create market wealth
3. Disrupt existing businesses
(ans: all of the above)

Question 11

Government of India has the following qualification criterion for an entity to be called as ‘startup’ in India, reckoned from the date of inception.

Answer 11

Age of the start-up

Question 12

Most start-ups when established fall under the following industry classification:

Answer 12

MSME

Question 13

Which of these startups witnessed rapid growth in the Covid-19 pandemic times?

Answer 13

1. Food Delivery
2. E-Commerce
3. Edutech
   (Ans: All the above)

Question 14

An entrepreneur who enters the market with a product or service which is based on new technology is called:

Answer 14

Innovative entrepreneur

Question 15

Which of the following is not an example of industrial transformation?

Answer 15

Supermarket