Question One (a) Theories are formulated to explain predict and understand a certain phenomenon based on that statement, explain the key theories of entrepreneurship. (10marks) (b) Motivation is an internal and external phenomenon that drivis action, discuss the major Intrinsic and extrinsic factors that moiizate entrepreneurs in business environment. (10marks) (c) As a student pursuing this business unit olentrepreneurship management explain the Roles of Entrepreneurship in Economic of a country. (10marks) Question Two (a) Explain the major Sources of business "deas for entrepreneurship and discuss the characteristics of a good business opportunity. (10marks) (b) Explain the meaning of "Business Model Canvas" and discu s briefly nine elements or building blocks of this Model (10marks) Question Three (a) As a student pursuing a course in Entrepreneurship managenient explain the meaning of Product prototype and explain four steps of developing an attractive business product prototype. (10marks) (b) Explain the meaning of Intellectual Preperty and discuss three major types of intellectual property rights. (10 marks) Question Four (a) Most successful small family businesses protect their trade socrets for generations, discuss measures of protecting trade sosrets. (10marks) (b) You have been requested to assist Kenyatta University 10 write out iis business plan covering the next three years.. Brielly explain how you wiuld go about assisting them and-explain the major sections of this plan. (10marks)

Question

Question One (a) Theories are formulated to explain predict and understand a certain phenomenon based on that statement, explain the key theories of entrepreneurship. (10marks) (b) Motivation is an internal and external phenomenon that drivis action, discuss the major Intrinsic and extrinsic factors that moiizate entrepreneurs in business environment. (10marks) (c) As a student pursuing this business unit olentrepreneurship management explain the Roles of Entrepreneurship in Economic of a country. (10marks) Question Two (a) Explain the major Sources of business "deas for entrepreneurship and discuss the characteristics of a good business opportunity. (10marks) (b) Explain the meaning of "Business Model Canvas" and discu s briefly nine elements or building blocks of this Model (10marks) Question Three (a) As a student pursuing a course in Entrepreneurship managenient explain the meaning of Product prototype and explain four steps of developing an attractive business product prototype. (10marks) (b) Explain the meaning of Intellectual Preperty and discuss three major types of intellectual property rights. (10 marks) Question Four (a) Most successful small family businesses protect their trade socrets for generations, discuss measures of protecting trade sosrets. (10marks) (b) You have been requested to assist Kenyatta University 10 write out iis business plan covering the next three years.. Brielly explain how you wiuld go about assisting them and-explain the major sections of this plan. (10marks)

Answer 1

Question One:(a) The key theories of entrepreneurship include the Opportunity Theory, which suggests that successful entrepreneurs are those who identify and act upon opportunities; the Risk-Taking Theory, which emphasizes the willingness to take calculated risks; and the Innovation Theory, which highlights the importance of innovation and creativity in entrepreneurship.(b) Intrinsic factors that motivate entrepreneurs include personal satisfaction, the pursuit of passion, and the desire for independence. Extrinsic factors include financial rewards, recognition, and the potential for career growth.(c) Entrepreneurship plays a crucial role in economic development by creating jobs, fostering innovation, and contributing to GDP growth. It also helps in the distribution of resources and the promotion of competition.Question Two:(a) The major sources of business ideas for entrepreneurship include personal experiences, market research, and technological advancements. A good business opportunity should be feasible, have a viable market, and offer a unique value proposition.(b) The Business Model Canvas is a strategic tool used to visualize and analyze a business model. Its nine elements include Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Activities, Key Resources, Key Partnerships, and Cost Structure.Question Three:(a) A product prototype is an early sample or model of a product. Developing an attractive business product prototype involves defining the product concept, creating a detailed design, building a working model, and testing and refining the prototype.(b) Intellectual Property refers to creations of the mind, such as inventions, literary and artistic works, and symbols. The three major types of intellectual property rights are Patents, Trademarks, and Copyrights.Question Four:(a) Measures of protecting trade secrets include non-disclosure agreements, access controls, employee training, and regular audits.(b) Assisting Kenyatta University in writing a business plan would involve conducting market research, analyzing financial projections, and outlining strategies for growth. The major sections of the plan would include an executive summary, company description, market analysis, organization and management, products and services, marketing and sales strategy, funding request, and financial projections.

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