Exam (elaborations)
BSM1501 ASSESSMENT 3-2024 (QUESTIONS & ANSWERS)
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QUESTIONS AND ANSWERS FOR BSM1501 ASSESSMENT 3 2024 SEMESTER 1
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BSM1501 Assessment 3Open course index
Started on Saturday, 13 April 2024, 4:27 PM
State Finished
Completed on Saturday, 13 April 2024, 4:42 PM
Time taken 15 mins 27 secs
Marks 23.00/25.00
Grade 14.00 out of 15.00 (92%)
Question 1
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Question text
To develop and evaluate a business idea, the entrepreneur would have used a _______.
A.bow-tie diagram
B. feasibility study
C. viability study
D. profit analysis
Question 2
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Which approach for generating business ideas involves satisfying various people's needs for the
same product?
A.Existing problems
B. Everyday activities
C. The entrepreneur’s skills, expertise, and aptitudes
D. Common needs
, Question 3
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Judging everything observed on the strength of the ideas that can be developed from it. To which
one of the following methods of cultivating a creative attitude does this statement refer?
A.To view the topic from another person’s point of view
B. To actively seek ideas
C. To write down his ideas
D. To explore grey areas
Question 4
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Why do we conduct a feasibility study?
A.To analyse consumer trends and preferences.
B. To determine the market potential of an idea.
C. To evaluate the financial viability of an enterprise.
D. To identify potential competitors in the market.
Question 5
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An entrepreneur would invest his/her savings during the _______ stage in the creation of an
enterprise.
A.planning
B. idea
C. viability
D. implementation
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