Question Tag: Entrepreneurship

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MGE – May 2018 – L2 – Q7 – Corporate Governance

Advises on the essential contents of a standard business plan for a new mushroom farm.

Mr. & Mrs. Phillips, your family friends, have just retired from the public service and are planning to set up a mushroom farm. They hope to use their gratuity and a loan sourced from their bank as initial capital for the business. Their bank manager requested them to present a business plan for this purpose. They approach you for advice on how to prepare a business plan, as they cannot afford to hire a consultant.

You are required to:
Advise Mr. and Mrs. Phillips on the contents of a standard business plan. (Total 15 Marks)

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BMF – Nov 2023 – L1 – SB – Q4 – The Business Environment

Discuss strategic position analysis, entrepreneurial organisation features, and components of communication styles.

Management and organisations have acknowledged that business analyses and
communication models are strategic tools for reducing risks.

a. Explain briefly the concept of “Strategic position analysis” and state FOUR main features of an entrepreneurial organisation. (10 Marks)

b. Define the term “communication style” and explain briefly THREE components of communication style. (10 Marks)

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BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

Economic activities in a nation comprise of professional services, businesses, or employment. The following statements in respect of economic activities are correct, EXCEPT:

A. Most businesses need employees to carry out their operations
B. Most employees do not contribute entrepreneurship to the economy
C. A growing economy does not need entrepreneurs and innovation to sustain its growth
D. Professionals and individuals in other specialised vocations contribute specialised skills
E. Professionals contribute value to clients and individuals by providing service of a high standard

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MGE – May 2018 – L2 – Q7 – Corporate Governance

Advises on the essential contents of a standard business plan for a new mushroom farm.

Mr. & Mrs. Phillips, your family friends, have just retired from the public service and are planning to set up a mushroom farm. They hope to use their gratuity and a loan sourced from their bank as initial capital for the business. Their bank manager requested them to present a business plan for this purpose. They approach you for advice on how to prepare a business plan, as they cannot afford to hire a consultant.

You are required to:
Advise Mr. and Mrs. Phillips on the contents of a standard business plan. (Total 15 Marks)

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You're reporting an error for "MGE – May 2018 – L2 – Q7 – Corporate Governance"

BMF – Nov 2023 – L1 – SB – Q4 – The Business Environment

Discuss strategic position analysis, entrepreneurial organisation features, and components of communication styles.

Management and organisations have acknowledged that business analyses and
communication models are strategic tools for reducing risks.

a. Explain briefly the concept of “Strategic position analysis” and state FOUR main features of an entrepreneurial organisation. (10 Marks)

b. Define the term “communication style” and explain briefly THREE components of communication style. (10 Marks)

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BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

Economic activities in a nation comprise of professional services, businesses, or employment. The following statements in respect of economic activities are correct, EXCEPT:

A. Most businesses need employees to carry out their operations
B. Most employees do not contribute entrepreneurship to the economy
C. A growing economy does not need entrepreneurs and innovation to sustain its growth
D. Professionals and individuals in other specialised vocations contribute specialised skills
E. Professionals contribute value to clients and individuals by providing service of a high standard

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