NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY 2021 EXAMINATION

Course Code: ENT 414

Course Title: Venture Creation and Growth

Credit Unit: 2 Instructions: 1. Indicate your Matriculation Number clearly

2. Attempt Question 1 and any other two (2) questions

3. Question 1 is compulsory and carries 30 marks while the other 2 questions carry 20marks each

4. Present all your points in coherent and orderly manner

Time Allowed: 2 Hours

Question 1: Business planning is a 10-step process. Discuss these steps extensively drawing on local examples presented by the Nigerian business space. [30 marks]

Question 2

a. Give a detailed explanation of how an entrepreneur should go about choosing his/her product and the market. [10 marks]

b. Do an extensive discussion of the entry strategies of a new business venture. [10 marks]

Question 3

a. What do you understand by the term, management by objectives (MBO)? [5 marks]

b. Mention (5) five basic elements of management by objective (MBO)? [5 marks]

c. Identify and briefly explain five (5) general and specific problems of business failure. [10 marks]

Question 4

a. Write brief but explanatory notes on the five marketing philosophies. [10 marks]

b. Briefly discuss five (5) government policies that can encourage entrepreneurial activities in Nigeria. [10 marks]