ME-803-C Entrepreneurship and Management Concepts - May 2024 Question Paper

Under each question, How to answer lists the points an answer should cover, outlined by CampusPrep from the syllabus. Check the details against your textbook.

1. 7 Marks
   aWhat is system and what are the various elements of system?
   How to answer

   • Define system as set of interrelated components working for objective
   • List elements: input, process, output, feedback, environment, boundary, etc.
   • Brief explanation of each element with example
2. 7 Marks
   bExplain Steven Alters nine elements work system framework.
   How to answer

   • Introduce Steven Alter work system framework
   • List nine elements: customers, products/services, processes, participants, information, technology, environment, infrastructure, strategies
   • Explain interrelationship with diagram description
3. 7 Marks
   aExplain Maslow's need hierarchy of theory with examples.
   How to answer

   • State Maslow's five levels: physiological to self-actualization
   • Explain each level with industrial/entrepreneurial examples
   • Discuss managerial implications and limitations
4. 7 Marks
   bWhat is SWOT analysis? Explain in detail.
   How to answer

   • Define SWOT: Strengths, Weaknesses, Opportunities, Threats
   • Explain internal vs external factors with examples
   • Explain use in strategic planning for entrepreneurs
5. 7 Marks
   aWhat is marketing and the 4P's of marketing in detail?
   How to answer

   • Define marketing as process of creating and delivering value
   • Explain 4Ps: Product, Price, Place, Promotion in detail
   • Give examples for each P
6. 7 Marks
   bWhat is the importance of NPV in capital budgeting decisions?
   How to answer

   • Define NPV and capital budgeting
   • Explain NPV as present value of cash flows minus investment
   • Explain importance: time value, profitability, decision rule and advantages over other methods
7. 7 Marks
   aWhat do you understand by business ownership? State its types.
   How to answer

   • Define business ownership
   • State types: sole proprietorship, partnership, company, cooperative, etc.
   • Brief features of each type
8. 7 Marks
   bExplain the different types of manufacturing systems.
   How to answer

   • Define manufacturing system
   • Explain types: job, batch, mass, continuous, flexible, etc.
   • Compare features, volume-variety and examples
9. 7 Marks
   aWhat is the relationship between operations and productivity?
   How to answer

   • Define operations and productivity
   • Explain productivity = output/input and role of operations
   • Explain how efficient operations improve productivity
10. 7 Marks
    bWhy is it necessary to give allowances? What are the different types of allowances?
    How to answer

    • Define allowances in time study
    • Explain necessity: fatigue, personal needs, delays
    • List types: personal, fatigue, delay, special allowances
11. 7 Marks
    aDifferentiate between fund flow and cash flow statement.
    How to answer

    • Define fund flow vs cash flow statement
    • Compare on basis: meaning, basis, scope, purpose
    • Present differences in tabular form
12. 7 Marks
    bWhat are the operating and financial leverage?
    How to answer

    • Define operating leverage and financial leverage
    • Give formulas: contribution/EBIT and EBIT/EBT
    • Explain significance and risk implications
13. 7 Marks
    aExplain the different entrepreneur development program available in Indian colleges for young budding Engineers.
    How to answer

    • Define entrepreneur development program (EDP)
    • List programs in Indian colleges: E-cells, incubation, Startup India, MSME schemes
    • Explain objectives and benefits for young engineers
14. 7 Marks
    bList the various sources of funds and funding agencies to support the new entrepreneurs.
    How to answer

    • List sources: own funds, banks, venture capital, angel investors, government schemes
    • List agencies: SIDBI, NABARD, NSIC, MSME-DI, etc.
    • Brief role of each in supporting new entrepreneurs
15. 14 Marks
    Write short notes on any two of the following:

    1. i)BCG matrix
    2. ii)Break Even Point (BEP)
    3. iii)Law of requisite variety
    How to answer

    • Select any two: BCG matrix, BEP, Law of requisite variety
    • Define each with key components/formula
    • Explain diagram/use and managerial significance