mgt601 collection of old papers

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FINALTERM EXAMINATION

FALL 2006

MGT601 - SME MANAGEMENT (Session - 1 )

Marks: 60

Time: 120min

StudentID/LoginID: ______________________________

Student Name: ______________________________

Center Name/Code: ______________________________

Exam Date: Thursday, February 15, 2007

SME Management (MGt601)

FINAL TERM EXAM (1) (Fall 2006)

TIME ALLOWED: 150 Minutes

TOTAL MARKS : 60

Please read the following instructions carefully before attempting any question: All questions are compulsory.

This exam consists of 15 Multiple Choice Questions (MCQs) of 1 mark each, 5 True/False of 1

mark each, 5 fill in the blanks of 1 mark each, 3 Short questions of 5 marks each and 2 Descriptive

questions of 10 marks each.

For each Multiple Choice Question, read the options available and select which you consider is the

correct one.

This examination is closed book, closed notes and closed neighbours.

Do not ask question about the contents of this examination from anyone.

You may wish to pace yourself with your own watch, but the Supervisor will be the official

timekeeper of the test.

Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please

comply with supervisor’s directions to avoid any unpleasant event.

For Teacher's use only Question 1 2 3 4 5 6 7 8 9 10 Total

Marks Question 11 12 13 14 15 16 17 18 19 20

Marks Question 21 22 23 24 25 26 27 28 29 30

Marks Question No: 1 ( Marks: 1 ) - Please choose one The strategic management process: ►

Is especially difficult for the small business because of its limited resources.

►

Divides mass markets into smaller, less homogeneous units.

►

Provides the small business owner with the tools for managing the uncontrollable elements in the External business environment.

►

Helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives

Question No: 2 ( Marks: 1 ) - Please choose one The primary output of the strategic management process should be: ►

A matching of its strengths and weaknesses to the opportunities and threats in the environment.

►

An invitation to outside investors and lenders to put money into the business.

►

A complete explanation of the company's product or service.

►

A description of the company’s competitive situation.

Question No: 3 ( Marks: 1 ) - Please choose one _____________ Law governs the rights and the obligations between people and the parties, they made promises to or agreements with. ►

Agency

►

Contract

►

Freedom of contract

►

UCC (Uniform Commercial Code

Question No: 4 ( Marks: 1 ) - Please choose one Mr. A is looking for capital to purchase new buildings, equipment and furniture . He is looking for ___________ capital. ►

Working

►

Fixed

►

Growth

►

Asset-based

Question No: 5 ( Marks: 1 ) - Please choose one Equity capital is also called: ►

Equity money

►

Stock money

►

Risk capital

►

None of the above

Question No: 6 ( Marks: 1 ) - Please choose one A proforma financial statements means:

►

Looking at the current financial statements

►

Looking at the past financial statements

►

Preparing current financial statements

►

Preparing projected financial statements

Question No: 7 ( Marks: 1 ) - Please choose one The grapevine in most organizations is: ►

Almost always incorrect in its content.

►

Nonexistent in organizations where management communicates face to face and by memo.

►

The first place employees hear about major organizational changes.

►

Only used by troublemakers and gossipers within the organization.

Question No: 8 ( Marks: 1 ) - Please choose one When it comes to hiring in the small business: ►

Each hire is very important because bad hires are very expensive.

►

It is only moderately expensive because bad hires can be quickly fixed due to the small businesses flexibility.

►

They tend to be in full compliance of EEOC and HRM laws, more so than large companies because the hiring process is done by very few individuals.

►

The small business owner, generally violates some laws due to the lack of an HRM professional on staff.

Question No: 9 ( Marks: 1 ) - Please choose one Critical to TQM is: ►

Management competence.

►

Understanding the product.

►

Continual improvement.

►

Knowing your competition.

Question No: 10 ( Marks: 1 ) - Please choose one The most distinctive skill of professional marketers is the ability to create, maintain, and enhance their: ►

Profit

►

Market share

►

Brands

►

Packaging

Question No: 11 ( Marks: 1 ) - Please choose one Way of obtaining new product is __________ ►

By buying a whole company

►

A patient

►

A license to produce someone else’s product

►

All the given options

Question No: 12 ( Marks: 1 ) - Please choose one Sales decline for many reasons, including ►

Technological advances

►

Shift in customer tastes

►

Increased competition

►


Question No: 13 ( Marks: 1 ) - Please choose one Successful implementation of TQM involves: ►

Modification in the operational culture

►

Work process

►

Both modification in operational culture and work process

►

None of the given options

Question No: 14 ( Marks: 1 ) - Please choose one ______________ is said to link trading partners, whether they are giant corporations or single individuals with a small business: ► Technology.

►

Better management.

►

Higher salaries.

►

Smaller organizations.

Question No: 15 ( Marks: 1 ) - Please choose one The most common reasons for a small or a mid-sized company for taking their business to the Web is: ►

To reach new customers

►

To disseminate information more quickly

►

To reach new customers and to disseminate information more quickly

►

For prestige

Question No: 16 ( Marks: 1 ) - Please choose one Small businesses create more jobs than either medium or large businesses. ►

True

►

False

Question No: 17 ( Marks: 1 ) - Please choose one When the location of the business is critical to its success, it may be wise to purchase a business in another location. ►

True

►

False

Question No: 18 ( Marks: 1 ) - Please choose one Only 11% of entrepreneurs analyze their financial statements as part of their managerial planning. ►

True

►

False

Question No: 19 ( Marks: 1 ) - Please choose one Typically, factoring is less expensive than bank and commercial finance company loans ►

True

►

False

Question No: 20 ( Marks: 1 ) - Please choose one Quality has an impact on both costs and revenues. ►

True

►

False

Question No: 21 ( Marks: 1 ) Pakistan’s economy is an economy of ____________________________________. Question No: 22 ( Marks: 1 ) Percentage taken by the bank for discounting receivables is called______________. Question No: 23 ( Marks: 1 ) _____________________________________ = Operating Expenses in Previous year Number of operating cycles in year

Question No: 24 ( Marks: 1 ) _________________is an overview Document, which provide guideline for use and selection of other standards. Question No: 25 ( Marks: 1 ) GATT stands for ______________________________________________________. Question No: 26 ( Marks: 5 ) Efficient selection is the systematic defining of key requirements of each task, how will you

conduct job analysis to achieve the desired outcome?

Question No: 27 ( Marks: 5 ) While managing the working capital requirements, we must keep some factors in mind that might affect our planning, provide a brief of these factors. Question No: 28 ( Marks: 5 ) Do you think there is need of linking ICTs (Information & Communications Technologies) with Entrepreneurship development to eradicate the problem of unemployment in the developing nations with large populations? Explain. Question No: 29 ( Marks: 10 ) What is the role of technology upgradation in entrepreneurship development? Question No: 30 ( Marks: 10 ) How would you define the act of a manufacturer in one country exporting a product to another country at an unfairly low price? Recently Pakistan’s exports (Textile & Clothing) have been subjected to Antidumping, what measures we must take to manage this situation?

http://vujannat.ning.com BEST SITE TO HELP STUDENTS

FINALTERM EXAMINATION

FALL 2006


Marks: 60

Time: 120min


Student Name: ______________________________

Center Name/Code: ______________________________

Exam Date: Thursday, February 15, 2007

SME Management (MGt601)

FINAL TERM EXAM (1) (Fall 2006)


TOTAL MARKS : 60

Please read the following instructions carefully before attempting any question: All questions are compulsory.

This exam consists of 15 Multiple Choice Questions (MCQs) of 1 mark each, 5 True/False of 1

mark each, 5 fill in the blanks of 1 mark each, 3 Short questions of 5 marks each and 2 Descriptive

questions of 10 marks each.

For each Multiple Choice Question, read the options available and select which you consider is the

correct one.

This examination is closed book, closed notes and closed neighbours.

Do not ask question about the contents of this examination from anyone.

You may wish to pace yourself with your own watch, but the Supervisor will be the official


Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please



Marks Question 11 12 13 14 15 16 17 18 19 20

Marks Question 21 22 23 24 25 26 27 28 29 30

Marks Question No: 1 ( Marks: 1 ) - Please choose one The strategic management process: ►

Is especially difficult for the small business because of its limited resources.

►

Divides mass markets into smaller, less homogeneous units.

►

Provides the small business owner with the tools for managing the uncontrollable elements in the External business environment.

►

Helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives

Question No: 2 ( Marks: 1 ) - Please choose one The primary output of the strategic management process should be: ►

A matching of its strengths and weaknesses to the opportunities and threats in the environment.

►

An invitation to outside investors and lenders to put money into the business.

►

A complete explanation of the company's product or service.

►

A description of the company’s competitive situation.

Question No: 3 ( Marks: 1 ) - Please choose one _____________ Law governs the rights and the obligations between people and the parties, they made promises to or agreements with. ►

Agency

►

Contract

►

Freedom of contract

►

UCC (Uniform Commercial Code

Question No: 4 ( Marks: 1 ) - Please choose one Mr. A is looking for capital to purchase new buildings, equipment and furniture . He is looking for ___________ capital. ►

Working

►

Fixed

►

Growth

►

Asset-based

Question No: 5 ( Marks: 1 ) - Please choose one Equity capital is also called: ►

Equity money

►

Stock money

►

Risk capital

►

None of the above

Question No: 6 ( Marks: 1 ) - Please choose one A proforma financial statements means:

►

Looking at the current financial statements

►

Looking at the past financial statements

►

Preparing current financial statements

►

Preparing projected financial statements

Question No: 7 ( Marks: 1 ) - Please choose one The grapevine in most organizations is: ►

Almost always incorrect in its content.

►

Nonexistent in organizations where management communicates face to face and by memo.

►

The first place employees hear about major organizational changes.

►

Only used by troublemakers and gossipers within the organization.

Question No: 8 ( Marks: 1 ) - Please choose one When it comes to hiring in the small business: ►

Each hire is very important because bad hires are very expensive.

►

It is only moderately expensive because bad hires can be quickly fixed due to the small businesses flexibility.

►

They tend to be in full compliance of EEOC and HRM laws, more so than large companies because the hiring process is done by very few individuals.

►

The small business owner, generally violates some laws due to the lack of an HRM professional on staff.

Question No: 9 ( Marks: 1 ) - Please choose one Critical to TQM is: ►

Management competence.

►

Understanding the product.

►

Continual improvement.

►

Knowing your competition.

Question No: 10 ( Marks: 1 ) - Please choose one The most distinctive skill of professional marketers is the ability to create, maintain, and enhance their: ►

Profit

►

Market share

►

Brands

►

Packaging

Question No: 11 ( Marks: 1 ) - Please choose one Way of obtaining new product is __________ ►

By buying a whole company

►

A patient

►

A license to produce someone else’s product

►


Question No: 12 ( Marks: 1 ) - Please choose one Sales decline for many reasons, including ►

Technological advances

►

Shift in customer tastes

►

Increased competition

►


Question No: 13 ( Marks: 1 ) - Please choose one Successful implementation of TQM involves: ►

Modification in the operational culture

►

Work process

►

Both modification in operational culture and work process

►


Question No: 14 ( Marks: 1 ) - Please choose one ______________ is said to link trading partners, whether they are giant corporations or single individuals with a small business:

►

Technology.

►

Better management.

►

Higher salaries.

►

Smaller organizations.

Question No: 15 ( Marks: 1 ) - Please choose one The most common reasons for a small or a mid-sized company for taking their business to the Web is: ►

To reach new customers

►

To disseminate information more quickly

►

To reach new customers and to disseminate information more quickly

►

For prestige

Question No: 16 ( Marks: 1 ) - Please choose one Small businesses create more jobs than either medium or large businesses. ►

True

►

False

Question No: 17 ( Marks: 1 ) - Please choose one When the location of the business is critical to its success, it may be wise to purchase a business in another location. ►

True

►

False

Question No: 18 ( Marks: 1 ) - Please choose one Only 11% of entrepreneurs analyze their financial statements as part of their managerial planning. ►

True

►

False

Question No: 19 ( Marks: 1 ) - Please choose one Typically, factoring is less expensive than bank and commercial finance company loans ►

True

►

False

Question No: 20 ( Marks: 1 ) - Please choose one Quality has an impact on both costs and revenues. ►

True

►

False

Question No: 21 ( Marks: 1 ) Pakistan’s economy is an economy of ____________________________________. Question No: 22 ( Marks: 1 ) Percentage taken by the bank for discounting receivables is called______________. Question No: 23 ( Marks: 1 ) _____________________________________ = Operating Expenses in Previous year Number of operating cycles in year

Question No: 24 ( Marks: 1 ) _________________is an overview Document, which provide guideline for use and selection of other standards. Question No: 25 ( Marks: 1 ) GATT stands for ______________________________________________________. Question No: 26 ( Marks: 5 ) Efficient selection is the systematic defining of key requirements of each task, how will you

conduct job analysis to achieve the desired outcome?

Question No: 27 ( Marks: 5 ) While managing the working capital requirements, we must keep some factors in mind that might affect our planning, provide a brief of these factors. Question No: 28 ( Marks: 5 ) Do you think there is need of linking ICTs (Information & Communications Technologies) with Entrepreneurship development to eradicate the problem of unemployment in the developing nations with large populations? Explain. Question No: 29 ( Marks: 10 ) What is the role of technology upgradation in entrepreneurship development? Question No: 30 ( Marks: 10 ) How would you define the act of a manufacturer in one country exporting a product to another country at an unfairly low price? Recently Pakistan’s exports (Textile & Clothing) have been subjected to Antidumping, what measures we must take to manage this situation?

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Largest Online Community of VU Students MIDTERM EXAMINATION

FALL 2006


Marks: 40

Time: 60min


Student Name: ______________________________

Center Name/Code: ______________________________

Exam Date: Tuesday, December 05, 2006

Virtual University Of Pakistan

SME Management (MGT601)

MID TERM EXAM (3) (Fall 2006)


TOTAL MARKS: 40

Please read the following instructions carefully before attempting any question

All questions are compulsory.

This exam consists of 10 Multiple Choice Questions (MCQ’s) of 1 Mark each, 5

True/False questions of 1 mark each, 3 short questions of 5 marks each and 1

descriptive question of 10 marks.

Time management is very important. MCQ’s and True/False questions may be

solved first to secure enough time for remaining descriptive questions.

The use of notes, handouts, books or any other helping material is strictly

prohibited in the examination centre.

Please reply the short descriptive questions and long descriptive question keeping

in view the marks allocated for each question.

For each MCQ question, read the choices available and select the choice which you

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consider is the correct answer, by clicking on the appropriate check box.

Save your answer before proceeding to the next question.

A clock has been given in the exam software. Software will automatically be closed

after 90 minutes.

It is your responsibility to manage time and responses to test questions effectively.

Do not click the “Finish button” while solving your paper. Once you clicked the

“Finish” button, you will not be able to access your paper again. Click it only at the

end after attempting the whole paper, which will be an indication that you have

submitted your complete paper

Failure to comply with the supervisor’s directions may result in your test being

cancelled


Marks Question 11 12 13 14 15 16 17 18 19

Marks Question

Marks Question No: 1 ( Marks: 1 ) - Please choose one The location of the business is especially important for what type of start-up businesses? ►

Manufacturing.

►

Service.

►

Computer-based service.

►

Retail

Question No: 2 ( Marks: 1 ) - Please choose one A key characteristic of a successful entrepreneur is:

►

Never hang failed.

►

Expert technical knowledge of the product.

►

Learning to fail intelligently.

►

Earning at least a 25% return for investors.

Question No: 3 ( Marks: 1 ) - Please choose one The key ingredient-the crucial element-to avoiding the failure of a new business is: ►

The business plan.

►

Knowing the business.

►

Technical expertise regarding the product.

►

Differentiating the business and product from the competition.

Question No: 4 ( Marks: 1 ) - Please choose one The key to effective financial management in a start-up is: ►

Excellent controls.

►

The use of ABC accounting processes.

►

Have sufficient start-up capital.

►

Have an adequate inventory on hand.

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following is true about avoiding business failure? ►

You must understand financial statements.

►

You need to learn how to manage others.

►

You must differentiate your product from the competition.

►

You must do all of these.

Question No: 6 ( Marks: 1 ) - Please choose one U.S. economic structure is moving: ►

Away from agricultural to a industrial economy

►

Away from an industrial to a knowledge-based one

►

Back to agricultural economy

►

Away from an agricultural to a knowledge-based one

Question No: 7 ( Marks: 1 ) - Please choose one A knowledge based business economy favors small business because: ►

The cost of managing and transmitting knowledge is very low

►

Small businesses are more successful

►

Information technology is driving cost of managing and transmitting knowledge lower

►

Both a & c


Money driven and wild risk takers are both: ►

Common characteristics of entrepreneurs

►

Entrepreneur’s techniques to success

►

Common misconceptions of entrepreneurs

►


Question No: 9 ( Marks: 1 ) - Please choose one Small businesses are those that employ: ►

More than 100 employees

►

Fewer than 20 employees

►

Fewer than 100 employees

►

Number doesn’t matter

Question No: 10 ( Marks: 1 ) - Please choose one The most important change due to Expansion occurs in: ►

Organizational structure

►

Inventory and financial control procedures

►

Managerial expertise

►

Personnel assignments


Over 1,600 colleges and universities offer courses on entrepreneurship. ►

True

►

False

Question No: 12 ( Marks: 1 ) - Please choose one With all the talk about a service economy, only 45% of all jobs are actually in services in the United States ►

True

►

False

Question No: 13 ( Marks: 1 ) - Please choose one Advances in technology available to entrepreneurs permit them to move into manufacturing and compete directly with Fortune 500 companies. ►

True

►

False

Question No: 14 ( Marks: 1 ) - Please choose one For the most part, small businesses are unable to compete internationally ►

True

►

False

Question No: 15 ( Marks: 1 ) - Please choose one Companies started by women tend to grow more rapidly than those started by men. ►

True

►

False

Question No: 16 ( Marks: 5 )

Suppose you are going to start your own business, briefly write down sources of ideas for new product/products development in your area. Question No: 17 ( Marks: 5 ) What are the main objectives of pre-feasibility studies prepared by SMEDA to provide information about investment opportunities to the SME’s?

Question No: 18 ( Marks: 5 ) Suppose you are about to start a new pharmaceutical company in your area, which entrepreneur’s qualities do you think should it have? Question No: 19 ( Marks: 10 ) Define green marketing, why environmental issues are a result of interaction between human activities of production and the environment?

www.vujannat.ning.com

T Q

60 56 41

E Q

Failure to comply with the Supervisor’s directions will result in yo

You may wish to pace yourself • with your own watch, but the Supervisor will be the official


• ur test being cancelled. Please


uestion No. 1 Marks : 1

nterprises have to deal with _________labour laws

66


rade unions are

• Do not ask any questions about the contents of this examination from anyone.

• This examination is closed book, closed notes, closed neighbors.

• This exam consists of 10 Multiple Choice Questions (MCQ’s) carrying 1 marks each, 5 fill

in the blanks carrying 1 mark each 5 short questions carrying 3 marks each and 1 Descriptive questions.

• All questions are compulsory.

Please read the following instructions carefully before attempting any question:

Time Allowed: 90 Minutes

Mid Term Examination – Spring 2006 MGT601 SME Management

mailto:[email protected]



Specific advantage enjoye To identify potential competitors

C

Q

Corporation. Partnership. Small scale b

T Q

Herbison and Meyer David McClelland Huge Aitken

e

In year 1959 _

Q

D Q G

Q

W

Q

Primary sources of mark Helpful in identifying market potential

n

et information None of the mentioned


EBCOP stands for _____________


enerally, every organization face________ types of competition


efine entrepreneurship and its characteristics in detail?


___________replaced the terms management and organization for ntrepreneur

Collier Mac Millan


he most common form of business ownership is the:

usiness

S-corporation


ompetition analysis must seek

d by the purpose venture

Secondary sources of market informatio

Whole sale Services Public uti

“

Q

H Question No. 13 S

Q

Production pr Government regulatio Environmental problem Capital problem

C Q

Alfered M Hammurabi Adam smith

e

________describ

Q

C

Q

None of the mentioned


apital problem of an enterprise after start operating is _____________estimation of capital


e an economy in which local small business was virtually being the only conomic entity

arshall Robbins


hanges in government policies is a/an _______for a new enterprise

ns problem oblems


tate three widely used criterion for defining SME’s?

Marks : 3

ow can entrepreneur increase productivity in his organization?


Real estate” relates to which of the following type of small scale business

lities

business Retailing

Both options mentioned

1962 1963

1961 Punjab sm Question No. 21

ity study? What is a feasibil Question No. 20

P Question No. 19

d issue for developing small and medium organizations in PakistanWhat is tax relate ? Question No. 18 Ma _ Question No. 17

reasons.

W

Question No. 16 Marks

ntioned All of the me

Government agencies Ideas put forth by others

Newspapers, trade journal external resources are In

: 1

search of new ventures entrepreneurs explore both internal and external resources, the

s, professional journals etc.

: 3

hy the development of SMEs suits the current situation in Pakistan? Provide only three

Marks : 1

_______ is considered to be the landmark in the history of SME’s

rks : 3

Marks : 1

RSP stands for_____________

Marks : 3

Marks : 1

all industries corporation (PSIC) was established in__________

1969

Question No. 15 Marks

mgt601 collection of old papers

Documents