CHINHOYI UNIVERSITY OF TECHNOLOGY
SCHOOL OF BUSINESS SCIENCES AND MANAGEMENT
Department of Business Management & Entrepreneurship
CUEB 201 – PRINCIPLES OF ENTREPRENEURSHIP
TUTORIAL QUESTIONS
AUGUST – DECEMBER 2014
1. Detail why it is necessary to update the business plan and specify the factors that can enhance
the need to update it.
2. A business plan is a document designed to provide sufficient information about a new or
existing business to convince different stakeholders to invest in the business. Identify and explain
any five (5) components of the plan and explain the type of information to be included in each
component.
3. ‘It is estimated that SMEs operations carry the weight of economic growth and development.’
a) State and explain any four (4) contributions that SMEs bring to the economy.
b) Identify and explain any three (3) advantages that SMEs have over big corporations.
4. The Ansoff Matrix is an important tool for any business venture. Discuss this assertion clearly
indicating when it would be necessary to apply.
5. Highlight the importance of a business plan to the following stakeholders:
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employees
entrepreneur
supplier
customer
investor
6. Briefly describe how a market research can be carried out.
State any two advantages and two disadvantage of carrying out a market research.
7. ‘If you do not know where you are going, any road will take you there’. Comment on this
quotation, highlighting the importance of planning in an organization.
8. ‘People form the basis of quality in any organisation’. Citing practical examples, comment on
this notion.
9. It is believed that services are more difficult to market when compared with goods. Explain
why it is so, stating the characteristics of services.
10. Using Porter’s Five Forces Model, highlight how an entrepreneur can minimize
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the power of buyers
the threat of new entrants
the bargaining power of suppliers
the threat of substitutes
rivalry
11. Zimbabwean entrepreneurs are not a common site on the list of the Zimbabwe Stock
Exchange. Detail why the situation is like this.
12. Highlight the reasons why an individual entrepreneur might succeed in bringing product to
the market where the government or a large corporation might fail.
13. ‘The BCG Matrix is a powerful portfolio planning tool’. Discuss this assertion, clearly
indicating how it helps the firm.
14. As entrepreneurship becomes more popular and the education of entrepreneurs becomes
more widespread, do you believe that a well defined entrepreneurial career path will emerge?
Support your view giving Zimbabwean examples.
15. Discuss the impact of PESTLEG in Zimbabwe.
16. For entrepreneurs to succeed they need to have the following characteristics among others
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information seeking
risk taking
opportunity seeking
commitment to work contract
persistence
networking
Explain how each of the given qualities will be of benefit to the entrepreneur when preparing a
business plan.
17. Explain any five (5) benefits of ethical behavior to an entrepreneur.
18. ‘Globalisation brought together all organizations into one Global Village’. Discuss this
statement citing pros and cons of operating on the global village. Also cite at least two different
ways of operating globally.
19. Explain with the aid of examples the circumstances under which an entrepreneur would
choose not to grow his /her business venture.
20. Identify and explain any five different strategies available to an entrepreneur who wants to
start up a business, highlighting the pros and cons for adopting each strategy.
21. Detail the impact of technological improvements to the Zimbabwean entrepreneur.
22. As an entrepreneurship consultant, explain to all heads of department of an organisation why
marketing is everyone’s responsibility in the organization.
23. With reference to an organization you are familiar with, define each of the following terms
and give two examples of each in relation to the SWOT analysis.
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strength
threats
opportunities
weaknesses
24. Highlight various options for entrepreneurs to enter into international business and state the
advantages and disadvantages of each option.
25. Identify and briefly explain any four external factors of the business environment that can
affect an organization of your choice
26. Briefly describe the following marketing strategies in relation to the Ansoff Matrix. Use
practical examples in your answers.
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market penetration
diversification
market development
product development
27. A financial organisation which provides loan facilities to aspiring entrepreneurs, is
conducting a seminar on entrepreneurship to assist successful loan applicants. Upon realisation
that you are a student on attachment from CUT whose mandate is entrepreneurship, innovation
and wealth creation, your CEO has requested you to be one of the facilitators. Make a convincing
and comprehensive presentation on principles of entrepreneurship.
28. Detail the barriers to corporate entrepreneurship in an organisation you are familiar with and
suggest possible solutions
29. Technology represents both an opportunity and a threat for entrepreneurs. Discuss.