Friendship Essay Example | Topics and Well Written Essays - 750 words

Friendship - Essay Example It was not a pleasant experience because we were strangers to one another. Even though my uncle was not happy about our lack of knowledge of each other, he introduced us as first cousins after which we became friends. I was also able to meet other cousins during my stay in the city but my friendship with this particular cousin has grown beyond any other personal relationship that I have had and I, in this paper, look at friendship and the extent to which Akst’s writing applies to friendship and possible deviations. Basis of friendships Akst, in his article, noted Aristotle’s explanation of three forms of friendship: â€Å"those based on usefulness (contacts), on pleasure (drinking buddies), and on a shared pursuit of virtue – the highest form of all† (Akst, 24). Our friendship developed from shared goals and dreams that we aspired to achieve in the future. The only contrasting aspect that existed between my cousin and I was our preferred professions. My co usin preferred a business career. He was a self-proclaimed businessperson and believed that business was the only key that could unlock his fortunes. On the contrary, I had education-oriented goals. I aimed at working hard in school to secure good grades that would qualify me to attend top ranking universities in the country. We however shared common goals despite the different paths that we chose to our respective success. A reflection, ten years later, of our friendship echoes Akst’s point that friendship built on shared pursuit of virtue is the highest form of all existing types of friendship basis. (Akst, 24) Advantages of having friends in the society Wilson in his article addressed the positive implications of friendship. According to Wilson, â€Å"living in a society of friends has many advantages. Friendship can moderate our behavior† and â€Å"friends help us establish and maintain norms and can tell us if we are running off when others do not notice, will no t break the news, or lack the necessary credibility† (in Akst, 26). In any given friendship, there exists a common trait. Personal traits among true friends are always in accord in terms of moral beliefs, ethical standards and political or religious affiliations. The concept of moderation of character in friendship was demonstrated through our relationship. Based on our contrasting success strategies, my cousin opted to venture into business while I pursued my undergraduate studies. Over the years, my cousin equipped himself with versatile entrepreneurial skills while I concentrated on my studies. Within a period of two years while I was in college, my cousin was able to establish and run a successful business firm. In his part, my cousin challenged my strategy of success. He argued that I did not have to finish college in order to own a business. My cousin reckoned that I could continue with my studies while operating a small business venture. He was able to instill in me the art and skills of a young entrepreneur while I was still pursuing my childhood dream of becoming a scholar. After considering his advice, I started supplying the college’s administration with stationeries and later expanded my market to cover the entire college and its environs. It was through our friendship that my cousin moderated my obsession with academic studies and established a renewed perspective of business in my character. Friendship concepts overlooked by the author Misunderstandings in friendships In his argument, Akst failed to mention that friendship is not always perfect. His analysis of the concept of friendship overlooked mistakes and misunderstanding among friends. In my personal opinion, mistakes and misunderstanding serve to strengthen friendship. In my relationship with my cousin, we have had

Opposition for The NHGRA Research Paper Example | Topics and Well Written Essays - 750 words

Opposition for The NHGRA - Research Paper Example It discloses that the Native Hawaiians have been conferred with the right to reorganize their local governing entity that could work for their common welfare (Aleksandra, p1). The bill has been regarded a controversial legislation that appears to be a center point for hot debates for last years. Most of the Republicans voted against the bill including the Republican governor Linda Lingle expressed the reservations against the bill. Lingle pointed out that there are many unbelievable and impractical amendments included in the law. Two congressmen Doc Hastings and Tom McClintock also opposed the bill and registered their opposition to the passing of the amendment to NGHRA (Duncan, p4). The opponents of the bill took the stance that they do not regard Congress as authority to reorganize people of different ethnicities and races into different sovereign nations especially when the community has no history of separate self-governance. There is an important point raised by the opposing congressmen that the creation of such independent entity would not be in long-term favor of the country because it will set an example for the other ethnic groups and nations and will encourage them to demand similar treatment. They opposed the bill also because it establishes a government on a racial basis (Joshua, p1). The congressmen have expressed their reservations regarding the amendments of the bill as they have observed several flaws in the bill. They also claim that it is a racist bill that poses serious threats to Americans as well as Hawaiians because it takes away the property rights from the Hawaiians and their legal heirs and singles out them on the basis of their origin. It has been demonstrated that the Hawaiian government will have complete sovereignty including ordinary tort and contract lawsuit but this move is not in favor of the people of Hawaii. The bill divides the people of a nation on the basis of their race and accord and bestows different rights.

Discuss and assess the potential for multiplied penalties for Assignment

Discuss and assess the potential for multiplied penalties for egregious violations. Your response should be approximately 200-300 words and include a reference citation for your sources - Assignment Example Some companies are crying foul because according to them it was practically issuing multiple citations and penalties for the same violation (MacArthur, 1995). Furthermore, since the OSHA provision is for prevention of the same hazards from occurring again, it is improper to multiply the penalties by the number of employees harmed by a violation. There is no need to multiply the penalty because the same hazard can be remedied with the â€Å"identical abatement method† (MacArthur, 1995). If OSHA is allowed to execute these multiplied penalties, they might go overboard and start issuing penalties on a per day or per hour basis on every violation made. This is definitely unreasonable and unacceptable to employers. OSHA should view the matter in the proper perspective focusing on the fact that if the hazard can be corrected just once, then there is no need for multiplied penalties. However, if different hazards represent different violations, then the penalties should be multiplied because it cannot be corrected by a single action. MacArthur, M. (1995, December 1). Commision clarifies OSHAs "egregious violations" policy. Retrieved June 27, 2012, from pffc-online.com: http://pffc-online.com/ar/2049-paper-commission-clarifies-oshas Stanley, J. (2010, September). OSHA issuing more egregious violations, but they may not hold up. Retrieved June 27, 2012, from fdrsafety.com:

Truth is bitter but better Essay Example for Free

Truth is bitter but better Essay Truth is the only weapon which can make a person win a battle. It is a pen that can write anything without anyones terror; it is a game in which who follows its one golden rule can never lose it; it is a tree that never loses its leaves; it is a river that cannot get filthy and dry in any season. Overall it can create heaven or else if not followed properly can ruin the whole world. It is said that to hide one lie we have to speak hundred more lies and thats true. A lie spoken intentionally means we need to speak several more lies to cover up that lie. And then also the truth comes out itself automatically. Everything has two sides, positive as well as negative. A coin has positive side of triumph and negative side of disaster also. If a person wins then he may also lose someday. If happiness is there then sadness is obvious. If a tree bear leaves then it also shed them. If one can stand then one can also fall. Taken as a whole, one can get to face anything in this whole world. Gandhiji said: Lying is the mother of violence. And it is true. In our daily life, as an instance, we meet our relatives and if they hide anything from us by telling anything which is not true and later we come to know then we turn violent and more aggressive. It leads to disrespect to the person. Truth was the only mother, father, son, daughter of the most widely known leader of the world- Gandhiji. He believed in truthfulness and he promoted its principle. And also it was obvious that for this single reason he was known worldwide. With this extraordinary weapon, he threw out the brutal and atrocious Britishers out of our country. He believed in the principle of Satyagraha which proved to be the most influential and imperative movement of the period. Gandhiji said:- I have nothing new to teach the world. Truth and non- violence are as old as the hills. And this is true as truth and lie are not the new concepts that the world has. It is as old as even more then hills and mountains. No one can teach the world the art of speaking truth and plus of the lies. They come out from within our heart. According to me, Nelson Mandela can also undertaken as a person who followed truth and won the whole world the price of peace, equality and oneness. He being a black became the president of ANC (African National Congress) and  also he won the Nobel Prize for his greatest achievement. He promoted equality among all the people on his principle that everyone is equal in the eyes of God. He was true in his outline as everyone is equal and equality in itself is also a truth. Also an example from our daily life, we are becoming more scientific these days but there are many people who still believe in superstitions. There are many misleading people who in the name of God hypnotize people in such a way that neither anyone comes to know about such thing nor the hypnotized is able to tell. But this is a bitter truth that those who follow anyone blindly have to face problems later in life. Even the person doing such illegal and superfluous acts are always caught and they can’t make fool of people for long. A recent example is of the person who was called as guruji in Punjab- Sarasa. He was popularly known all around the world. He had separated salokas which had very less verses praising God and more of praising himself. But the problem was that whatever he was doing was wrong, whatever he was saying was lie, whatever acts he was committing were illegal! And surprisingly a member from his own crew told the media that something was wrong going on at his place. Shockingly he used not to allow any of his disciple to talk to anyone because if they would do so then by chance if anyone else would hear it, then his acts would be held naked in the world and now this has happened, his popularity is decreasing also he is being disliked by the people now. This has not been the case in the present world but also during satyug (according to Hindu mythology) when Lord Rama were existing. He killed Ravana and placed truth over evil. He was cruel and so he did not win this battle of truth and evilness in spite of being so knowledgeable. This shows that truth wins and lies or evil faces disaster and fails. But this is a fact that this yug is kalyug and in this yug is lies or evilness is given the same importance as it is given to truth. They are considered one and the same. For example in the case of Jessica Lal, it was first being kept aside and with false statements it was tried to conclude. False statements and evil methods were adopted to sole this matter quickly and quietly. But unfortunately this could not happen. Truth may be kept behind for years and years but one day itself it would come up and the liar will have to face problem for his mistake. At last I would like to conclude that whatever be the case whether this or that we must not leave the path of truthfulness as this is the only way that would  lead us to place which is as beautiful as heaven and the other way would lead us to a place like hell. It depends on us which way we opt. Finally by analysis of the history and of the present world we come to know that we cannot hide truth for long and cannot follow fakeness for long. Thus, truths always triumph! Satya Meva Jayati! As we say that slow and steady wins the race we can say that Truthful and honest wins the race.

Gun Use Must Be Strictly Regulated Essay examples -- Gun Control, Pers

Human life is priceless and cannot be exchanged. With logic, one can conclude that any action taken to steal a human’s life must be forced out of the community that we live in. Drugs, guns, and alcohol are all detrimental to human beings. Among them all, however, guns are known to have the most direct impact on human lives. Many murders have been made, many threats, and suicides. Many cases have been able to take place because of guns. Therefore, gun control must definitely take place in the society that we live in today. Then, why do some people desire the country to require everyone to have a gun in their homes? Why is it that they want the guns to lie around as if they were nothing dangerous? First, because they believe guns will reduce the crime rate; second, because the people who use the guns are the ones who kill, not the guns; and third, because guns are necessary to play a popular sport. All these three reasons to oppose gun control can be argued against. On the other hand, gun control is absolutely necessary because first, the only function of a gun is to kill, second, g...

Gulliver’s Travel Satire

Gulliver's Travels is written from the perspective of a shipboard doctor named Lemuel Gulliver, and tells of four of his journeys into remote parts of the world. At the time Jonathan Swift wrote (1726), the increase in exploration of all parts of the globe had made stories of travels quite popular; the travels Swift wrote of, though, were fictional and satirical, even though presented as if a factual account written by Gulliver himself. A Voyage to Lilliput: Mocking the Pompous Gulliver's first voyage takes him to a land inhabited by people who are six inches tall.Lilliput and its rival kingdom of Blefuscu carry on as if their affairs were just as vital as those of European nations, and their nations just as capable, despite the fact that Gulliver could step on them all if he wished. As he records their society, court intrigues, religious disputes, and wars, it becomes clear that European politicians and aristocrats share much of the ridiculousness of the Lilliputians. When Gulliver is finally forced to leave Lilliput, it is because of trumped-up charges of treason fabricated by court enemies.He spends a short time in Blefuscu, but because Lilliput threatens war over his presence there, he resolves to leave rather than cause further trouble. When Gulliver journeys to a land of giants called Brobdingnag he experiences what it feels like to be a Lilliputian, as the giants are as much larger than him as he is larger than a Lilliputian. Gulliver's various brushes with death are humorous, but Swift also uses them to reinforce a major focus of this section: just as Lilliputian affairs are ridiculous because of their smallness, human pretensions are ridiculous as well.Swift's second major target for satire appears when Gulliver tries to show the Brobdingnagian king the greatness of England; he succeeds only in showing its corruption. While English civilization is more complex and more technologically advanced than Brobdingnag, a large portion of the technology is devo ted to war and destruction, and much of the complexity of law and government is an opportunity for massive corruption. Swift's satire has expanded in this section to cover the entire nation, and other European nations as well. A Voyage to Laputa: Pretensions to KnowledgeGulliver's third voyage, â€Å"to Laputa, Balnibarbi, Luggnagg, Glubbdubdrib, and Japan,† is divided into four main sections (his visit to Japan at the end is brief). Each stop on Gulliver's trip mocks mankind's claims to knowledge and understanding in some way. Laputa, as an island of absent-minded thinkers floating in the air, gives a good picture of a people with impressive thoughts, but no good connection to reality. When Gulliver leaves for the land of Balnibarbi below and enters the city of Lagado, the satire turns much harsher.Swift portrays there a group of men who, after spending some time in Laputa, attempted to apply their pet theories to the improvement of the country. But their ridiculous schemes have ruined it, because the theories took no account of reality. Still, most people follow their schemes, for they are after all new, modern, and scientific. Glubbdubdrib is a land where magicians can temporarily bring the dead back to earth, allowing Gulliver to speak to various famous historical figures. He discovers, though, that much of the history he has read is inaccurate, through either the ignorance or bias of the historians.Swift also takes this opportunity to speak again of the frequent evil of even honored men such as religious leaders and aristocrats. In Luggnagg, Gulliver himself comes in for mockery. Upon hearing of the existence of immortals in the land, he begins to imagine the greatness of their lives, and sketches out the life of learning and leadership he would live were he to be immortal. His host then informs him of one thing he has failed to understand — the immortals do not have eternal youth — a fact that overthrows his whole grand scheme.A Voya ge to the Country of the Houyhnhnms: Human Beastliness Gulliver's final voyage is to a land of intelligent horses called Houyhnhnms, and beastly human-like creatures called Yahoos. In his depiction of the Yahoos, and the parallels he draws between their brutish behavior and that of humans, Swift expands his satire to the evils of the entire human race. The perfectly rational and virtuous Houyhnhnms provide sharp contrast to this, leading Gulliver to eventually become so ashamed of his humanity he almost begins to act like a horse.Despite Gulliver's eventual elimination of some of his bad tendencies through imitation of the Houyhnhnms, he is eventually exiled on the argument that his combination of greater intelligence than Yahoos and lesser virtue than Houyhnhnms makes him dangerous. The end of the story presents Gulliver's dilemma: he is now horrified by his fellow humans, yet his behavior in talking to horses and refusing to eat with his family is enough to make the reader wonder if he is insane.Gulliver's dilemma is also humanity's. Developing greater virtue can lead to hating humanity's corrupt nature, but trying to escape one's own human nature because of its corruption is insanity. So throughout Gulliver's Travels, Swift repeatedly satirizes human corruption and inadequacy from a variety of angles. The four adventures progressively increase the scope and forcefulness of these attacks, leading to the thematic climax that ties off the plot.

Past Year Paper

CONFIDENTIAL BM/SEP 2011/ENT300/ETR300 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME FUNDAMENTALS OF ENTREPRENEURSHIP ENT300/ETR300 SEPTEMBER 2011 3 HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of four (4) parts : PART A (20 Questions) PART B (20 Questions) PART C (5 Questions) PART D (2 Questions) 2. Answer ALL questions from PART A, B, four (4) questions from PART C, and one (1) question from PART D. i) ii) iii) Answer PART A in the True/False Answer Sheet, Answer PART B in the Objective Answer Sheet.Answer PART C and PART D in the Answer Booklet. Start each answer on a new page. 3. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to make sure that this examination pack consists of: i) ii) iii) iv) the Question Paper an Answer Booklet – provided by the Faculty a True/False Answer Sheet – provided by the Faculty an Objective Answer Sheet – provide d by the Faculty 4. DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 10 printed pages Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 2 BM/SEP 2011/ENT300/ETR300 PART A 1. An entrepreneur is described as a person who acts as agent in transforming demand into supply. The statement, â€Å"A entrepreneur is an individual who actively forms or leads his own business and nurtures it for growth and prosperity†, refers to the functional definition of an entrepreneur. In Malaysia, small and medium enterprises (SMEs) contribute about 90% of the total value added in the manufacturing sector.The franchisee is a company which sells the right to another party to operate the franchise business. In a franchise system, the advertising and promotional contribution is a one-off payment made by the franchisee to purchase the right to operate the franchise In Malaysia, the small and medium enterprises (SMEs) are commonly registered as sole propri etorship businesses. The affairs of all business entities in Malaysia are governed by the Memorandum and Article of Association.In a partnership business, when there is no written agreement, termination of any partner must be agreed by all partners Under the Industrial Coordination Act (ICA) 1975, every manufacturing company is required to obtain a manufacturing license from Malaysian Industrial Development Authority (MIDA). Preparation of a business plan is a process that involves the identification, analysis and selection of viable business ideas. The executive summary is part of the main body of the business plan. A well prepared operations plan will help the entrepreneur to evaluate market acceptance of the product or service.A â€Å"process chart† refers to a diagram showing the arrangement of machines, equipment, workers and other facilities used in the operations Compilation of geographic, demographic and psychographic factors is a process of market segmentation. The t erm â€Å"target market† refers to the group of customers with needs and wants that can be satisfied by the business through the supply of goods or services. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. It is not mandatory for employers to contribute to the Employees Provident Fund (EPF) as long they have contributed to the Social Security Organisation (SOCSO). Hak Cipta Universiti Teknologi MARA CONFIDENTIAL 16. CONFIDENTIAL 3 BM/SEP 2011/ENT300/ETR300 17. The nature of industry is normally described in the organization aspect of the business plan. One of the main reasons for preparing a cash flow statement is to determine the expected profit for the planned period. Deposits and pre-operating expenses are examples of expenditure that are required to start a new business. The main objective of Bumiputera Entrepreneurs Retail Project Fund (PROSPER) is to enhance and upgrade Bumiputera entrepreneurs' participation in the retail business. 20 marks) 18. 19. 20.  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 4 BM/SEP 2011/ENT300/ETR300 PARTB 1. Which of the following activities is related to entrepreneurship? A. B. C. D. E. Creation of something new of value Creation of wealth Production of products and services Expansion of business entities All of the above 2. Who described an entrepreneur as a knowledgeable individual and is instrumental in the development of a city-state where enterprise will emerge? B. C. D. E. F. Joseph Schumpeter Adam Smith David McClelland Carl Menger Ibnu Khaldun . Which of the following statements best describes an entrepreneur who has internal locus of control? A. B. C. D. E. He believes that success or failure is determined by his own effort. He believes in himself. He does not belief that success or failure of his venture is determined by fate or luck. He desires to take personal responsibilities. He examines the situation and determine how to increase the chance of winning a business situation 4. The stat ement, â€Å"a successful entrepreneur places the highest priority on getting a job completed†, is associated with: A. B.C. D. E. Commitment to work contract Concern for high quality of work Efficiency orientation Systematic planning Problem solving 5. Which of the following phases of creativity process involves discovery of the idea or solutions to the problems? A. B. C. D. E. Background or knowledge accumulation Incubation process Idea experience Evaluation and implementation None of the above  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 5 BM/SEP 2011/ENT300/ETR300 6. Which of the following is a source of innovation within the company or industry? A. B. C. D. E.Demographic change Incongruities New knowledge Change in consumer preference None of the above 7. Which of the following statements is TRUE about a partnership business? A. B. C. D. A partnership business is incorporated under the Companies Act 1965. A partnership business is incorporated under the Partnership Act 1961. A partnership business is incorporated under the Business Registration Act 1956. A partnership is a legal entity and its identity is separate from the identity of its members. E. The life span of a partnership business is not dependent upon the death or resignation of its members. . Which of the following statements about a private limited company is NOT TRUE? A. A private limited company can take legal action and face legal action under its own name. B. The life span of a private limited company depends upon the death or resignation of its members. C. The liabilities of the members in a private limited company are limited to the total shares contributed to the company's capital. D. A private limited company must have at least two members who are of Malaysian Nationalities. E. The company's shares cannot be transacted through the share market. 9.Which of the following statements is TRUE about a franchise business? A. A franchise is a product and/or service distribution system governed by a contract made between two parties i. e. the franchisor and the franchisee B. A product/trade name franchise is a system where the franchisee acquires sales right which includes the trade name, trademark, and/or products from the franchisor upon the signing of the dealership contract. C. A business format franchise is a system where the franchisee is granted the right to manufacture and market the franchisor's product and/or services using a complete franchisor's business â€Å"set-up†.D. The franchisee is a person who purchases the right from the franchisee to operate the franchise. E. All of the above are true. 10. Which of the entrepreneurs? A. B. C. D. E. following ministries/agencies provides financial assistance for Federal Agricultural Marketing Authority (FAMA) Malaysian External Trade Development Corporation (MATRADE) Malaysian Entrepreneurship Development Centre (MEDEC) Perbadanan Usahawan Nasional Berhad (PUNB). Malaysian Industrial Development Authority (MIDA) CONFIDENTIAL  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL 6 BM/SEP 2011/ENT300/ETR300 1. Which of the following statements is NOT TRUE? A. Construction of buildings can only be undertaken with the written approval from Local Authority. B. In setting up a manufacturing business, a planning permission from Local Authority is needed. C. All business licences related to factory premises, advertising signage, storage and canteen must be obtained from Local Authority. D. The environmental control and approval are under the responsibility of Local Authority. E. All of the above are not true. 12. Which of the following statements is NOT TRUE about a business plan? A.A business plan is a written document that describes the proposed business or project in a comprehensive manner. B. A business plan can be used as a basis for determining the viability of the new business. C. A business plan can be used as a communication tool to convince potential investor s of the viability of the new venture. D. A business plan enables the entrepreneur to distribute business resources more effectively. E. A business plan enables the entrepreneur to evaluate and select a viable business idea. 13. Readers of a business plan include: I. II. III. IV. A. B. C. D. E.Employees Investors Suppliers Registrar of Companies II only II and III only I, II and III only I, II, and IV only All of the above 14. Which of the following is an objective of preparing a marketing plan? A. B. C. D. E. To evaluate market acceptance To develop marketing strategies for products or services offered by the business. To identify required resources to execute the marketing strategy. To estimate financial requirements for the marketing activities. All of the above are objectives of preparing a marketing plan.  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 7 BM/SEP 2011/ENT300/ETR300 5. The following factors should be considered when determining distribution stra tegy, EXCEPT: A. B. C. D. E. Type of product Target market Market share Market coverage. Product standardization 16. Which of the following information should be included in the â€Å"organization† aspect of the business plan? A. Background of the registered owners of the business including their relevant qualifications, skills, experiences, role in business and stake or share in the business. B. Mission statements which describe how entrepreneurs will achieve their purposes in the environments in which they conduct business.C. Nature of the industry, including economic trends, important legal or regulatory issues, and potential risks. D. Product characteristics, distribution, promotion, and pricing strategies. E. Amount of funds needed to run the business, amount available, and amount requested from new sources. 17. Which of the following factors should be considered when choosing suppliers for raw materials? A. B. C. D. E. Quality of the materials supplied Price and discoun t offered Payment and delivery terms Time between orders and delivery All of the above factors should be considered 18.Which of the following statements is NOT TRUE about a process chart? A. Symbols used in the process chart can also be used in a Job Activity Chart of a worker. B. Process Chart will show the sequence of activities required to produce the product or services. C. In a process chart, â€Å"delay† means the process is delayed because the materials-inprocess are waiting for the next activity. D. The symbol † V † indicates the movement of materials or goods from one place to another. E. The first step in preparing a process chart is to identify all the activities involved to manufacture the product or deliver the services. Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 8 BM/SEP 2011/ENT300/ETR300 19. Which of the following statement is TRUE? A. Sources of finance refers to the sources where funds to finance a particular project implementa tion costs can be obtained. B. Internal sources of finance mainly come in the form of cash contributions or other assets from the entrepreneurs. C. External sources of finance are mainly derived from commercial banks, finance companies and government agencies. D. External sources of finance may come in the form of term loans, hire purchase or grants. E. All of the above are true. 0. Which of the following statements is TRUE? A. Pro forma income statement refers to the projected statement of cash inflow and outflow throughout the planned period. B. Pro forma income statement shows the expected profit or loss for the planned period. C. Pro forma income statement shows the financial position of the business at a specific point in time in terms of assets owned and how those assets are financed. D. Pro forma income statement shows the beginning and ending cash balances for a particular period. E. All of the above are true. (40 marks)  © Hak Cipta Universiti Teknologi MARACONFIDENTIAL C ONFIDENTIAL 9 BM/SEP 2011/ENT300/ETR300 PARTC QUESTION 1 Briefly explain five (5) of the personal entrepreneurial competencies (PEC) associated with successful entrepreneurs. (5 marks) QUESTION 2 What are the criteria used to evaluate and select viable entrepreneurial opportunities? (5 marks) QUESTION 3 What are the factors that you need to consider when choosing a location for your business? (5 marks) QUESTION 4 In preparing the organization plan, it is important include the organization structure of the business organization. Briefly explain the various types of organizational structure. 5 marks) QUESTION 5 Briefly discuss the importance of preparing financial plan. (5 marks)  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 10 BM/SEP 2011/ENT300/ETR300 PARTD QUESTION 1 Define the term â€Å"entrepreneurial motivation†. Discuss, with examples, five (5) common characteristics of achievement-oriented entrepreneurs. (20 marks) QUESTION 2 Explain the importance of materials requirement planning. Describe the steps involved in materials requirement planning process. (20 marks) END OF QUESTION PAPER  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL Past Year Paper CONFIDENTIAL BM/SEP 2011/ENT300/ETR300 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME FUNDAMENTALS OF ENTREPRENEURSHIP ENT300/ETR300 SEPTEMBER 2011 3 HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of four (4) parts : PART A (20 Questions) PART B (20 Questions) PART C (5 Questions) PART D (2 Questions) 2. Answer ALL questions from PART A, B, four (4) questions from PART C, and one (1) question from PART D. i) ii) iii) Answer PART A in the True/False Answer Sheet, Answer PART B in the Objective Answer Sheet.Answer PART C and PART D in the Answer Booklet. Start each answer on a new page. 3. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to make sure that this examination pack consists of: i) ii) iii) iv) the Question Paper an Answer Booklet – provided by the Faculty a True/False Answer Sheet – provided by the Faculty an Objective Answer Sheet – provide d by the Faculty 4. DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 10 printed pages Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 2 BM/SEP 2011/ENT300/ETR300 PART A 1. An entrepreneur is described as a person who acts as agent in transforming demand into supply. The statement, â€Å"A entrepreneur is an individual who actively forms or leads his own business and nurtures it for growth and prosperity†, refers to the functional definition of an entrepreneur. In Malaysia, small and medium enterprises (SMEs) contribute about 90% of the total value added in the manufacturing sector.The franchisee is a company which sells the right to another party to operate the franchise business. In a franchise system, the advertising and promotional contribution is a one-off payment made by the franchisee to purchase the right to operate the franchise In Malaysia, the small and medium enterprises (SMEs) are commonly registered as sole propri etorship businesses. The affairs of all business entities in Malaysia are governed by the Memorandum and Article of Association.In a partnership business, when there is no written agreement, termination of any partner must be agreed by all partners Under the Industrial Coordination Act (ICA) 1975, every manufacturing company is required to obtain a manufacturing license from Malaysian Industrial Development Authority (MIDA). Preparation of a business plan is a process that involves the identification, analysis and selection of viable business ideas. The executive summary is part of the main body of the business plan. A well prepared operations plan will help the entrepreneur to evaluate market acceptance of the product or service.A â€Å"process chart† refers to a diagram showing the arrangement of machines, equipment, workers and other facilities used in the operations Compilation of geographic, demographic and psychographic factors is a process of market segmentation. The t erm â€Å"target market† refers to the group of customers with needs and wants that can be satisfied by the business through the supply of goods or services. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. It is not mandatory for employers to contribute to the Employees Provident Fund (EPF) as long they have contributed to the Social Security Organisation (SOCSO). Hak Cipta Universiti Teknologi MARA CONFIDENTIAL 16. CONFIDENTIAL 3 BM/SEP 2011/ENT300/ETR300 17. The nature of industry is normally described in the organization aspect of the business plan. One of the main reasons for preparing a cash flow statement is to determine the expected profit for the planned period. Deposits and pre-operating expenses are examples of expenditure that are required to start a new business. The main objective of Bumiputera Entrepreneurs Retail Project Fund (PROSPER) is to enhance and upgrade Bumiputera entrepreneurs' participation in the retail business. 20 marks) 18. 19. 20.  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 4 BM/SEP 2011/ENT300/ETR300 PARTB 1. Which of the following activities is related to entrepreneurship? A. B. C. D. E. Creation of something new of value Creation of wealth Production of products and services Expansion of business entities All of the above 2. Who described an entrepreneur as a knowledgeable individual and is instrumental in the development of a city-state where enterprise will emerge? B. C. D. E. F. Joseph Schumpeter Adam Smith David McClelland Carl Menger Ibnu Khaldun . Which of the following statements best describes an entrepreneur who has internal locus of control? A. B. C. D. E. He believes that success or failure is determined by his own effort. He believes in himself. He does not belief that success or failure of his venture is determined by fate or luck. He desires to take personal responsibilities. He examines the situation and determine how to increase the chance of winning a business situation 4. The stat ement, â€Å"a successful entrepreneur places the highest priority on getting a job completed†, is associated with: A. B.C. D. E. Commitment to work contract Concern for high quality of work Efficiency orientation Systematic planning Problem solving 5. Which of the following phases of creativity process involves discovery of the idea or solutions to the problems? A. B. C. D. E. Background or knowledge accumulation Incubation process Idea experience Evaluation and implementation None of the above  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 5 BM/SEP 2011/ENT300/ETR300 6. Which of the following is a source of innovation within the company or industry? A. B. C. D. E.Demographic change Incongruities New knowledge Change in consumer preference None of the above 7. Which of the following statements is TRUE about a partnership business? A. B. C. D. A partnership business is incorporated under the Companies Act 1965. A partnership business is incorporated under the Partnership Act 1961. A partnership business is incorporated under the Business Registration Act 1956. A partnership is a legal entity and its identity is separate from the identity of its members. E. The life span of a partnership business is not dependent upon the death or resignation of its members. . Which of the following statements about a private limited company is NOT TRUE? A. A private limited company can take legal action and face legal action under its own name. B. The life span of a private limited company depends upon the death or resignation of its members. C. The liabilities of the members in a private limited company are limited to the total shares contributed to the company's capital. D. A private limited company must have at least two members who are of Malaysian Nationalities. E. The company's shares cannot be transacted through the share market. 9.Which of the following statements is TRUE about a franchise business? A. A franchise is a product and/or service distribution system governed by a contract made between two parties i. e. the franchisor and the franchisee B. A product/trade name franchise is a system where the franchisee acquires sales right which includes the trade name, trademark, and/or products from the franchisor upon the signing of the dealership contract. C. A business format franchise is a system where the franchisee is granted the right to manufacture and market the franchisor's product and/or services using a complete franchisor's business â€Å"set-up†.D. The franchisee is a person who purchases the right from the franchisee to operate the franchise. E. All of the above are true. 10. Which of the entrepreneurs? A. B. C. D. E. following ministries/agencies provides financial assistance for Federal Agricultural Marketing Authority (FAMA) Malaysian External Trade Development Corporation (MATRADE) Malaysian Entrepreneurship Development Centre (MEDEC) Perbadanan Usahawan Nasional Berhad (PUNB). Malaysian Industrial Development Authority (MIDA) CONFIDENTIAL  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL 6 BM/SEP 2011/ENT300/ETR300 1. Which of the following statements is NOT TRUE? A. Construction of buildings can only be undertaken with the written approval from Local Authority. B. In setting up a manufacturing business, a planning permission from Local Authority is needed. C. All business licences related to factory premises, advertising signage, storage and canteen must be obtained from Local Authority. D. The environmental control and approval are under the responsibility of Local Authority. E. All of the above are not true. 12. Which of the following statements is NOT TRUE about a business plan? A.A business plan is a written document that describes the proposed business or project in a comprehensive manner. B. A business plan can be used as a basis for determining the viability of the new business. C. A business plan can be used as a communication tool to convince potential investor s of the viability of the new venture. D. A business plan enables the entrepreneur to distribute business resources more effectively. E. A business plan enables the entrepreneur to evaluate and select a viable business idea. 13. Readers of a business plan include: I. II. III. IV. A. B. C. D. E.Employees Investors Suppliers Registrar of Companies II only II and III only I, II and III only I, II, and IV only All of the above 14. Which of the following is an objective of preparing a marketing plan? A. B. C. D. E. To evaluate market acceptance To develop marketing strategies for products or services offered by the business. To identify required resources to execute the marketing strategy. To estimate financial requirements for the marketing activities. All of the above are objectives of preparing a marketing plan.  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 7 BM/SEP 2011/ENT300/ETR300 5. The following factors should be considered when determining distribution stra tegy, EXCEPT: A. B. C. D. E. Type of product Target market Market share Market coverage. Product standardization 16. Which of the following information should be included in the â€Å"organization† aspect of the business plan? A. Background of the registered owners of the business including their relevant qualifications, skills, experiences, role in business and stake or share in the business. B. Mission statements which describe how entrepreneurs will achieve their purposes in the environments in which they conduct business.C. Nature of the industry, including economic trends, important legal or regulatory issues, and potential risks. D. Product characteristics, distribution, promotion, and pricing strategies. E. Amount of funds needed to run the business, amount available, and amount requested from new sources. 17. Which of the following factors should be considered when choosing suppliers for raw materials? A. B. C. D. E. Quality of the materials supplied Price and discoun t offered Payment and delivery terms Time between orders and delivery All of the above factors should be considered 18.Which of the following statements is NOT TRUE about a process chart? A. Symbols used in the process chart can also be used in a Job Activity Chart of a worker. B. Process Chart will show the sequence of activities required to produce the product or services. C. In a process chart, â€Å"delay† means the process is delayed because the materials-inprocess are waiting for the next activity. D. The symbol † V † indicates the movement of materials or goods from one place to another. E. The first step in preparing a process chart is to identify all the activities involved to manufacture the product or deliver the services. Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 8 BM/SEP 2011/ENT300/ETR300 19. Which of the following statement is TRUE? A. Sources of finance refers to the sources where funds to finance a particular project implementa tion costs can be obtained. B. Internal sources of finance mainly come in the form of cash contributions or other assets from the entrepreneurs. C. External sources of finance are mainly derived from commercial banks, finance companies and government agencies. D. External sources of finance may come in the form of term loans, hire purchase or grants. E. All of the above are true. 0. Which of the following statements is TRUE? A. Pro forma income statement refers to the projected statement of cash inflow and outflow throughout the planned period. B. Pro forma income statement shows the expected profit or loss for the planned period. C. Pro forma income statement shows the financial position of the business at a specific point in time in terms of assets owned and how those assets are financed. D. Pro forma income statement shows the beginning and ending cash balances for a particular period. E. All of the above are true. (40 marks)  © Hak Cipta Universiti Teknologi MARACONFIDENTIAL C ONFIDENTIAL 9 BM/SEP 2011/ENT300/ETR300 PARTC QUESTION 1 Briefly explain five (5) of the personal entrepreneurial competencies (PEC) associated with successful entrepreneurs. (5 marks) QUESTION 2 What are the criteria used to evaluate and select viable entrepreneurial opportunities? (5 marks) QUESTION 3 What are the factors that you need to consider when choosing a location for your business? (5 marks) QUESTION 4 In preparing the organization plan, it is important include the organization structure of the business organization. Briefly explain the various types of organizational structure. 5 marks) QUESTION 5 Briefly discuss the importance of preparing financial plan. (5 marks)  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 10 BM/SEP 2011/ENT300/ETR300 PARTD QUESTION 1 Define the term â€Å"entrepreneurial motivation†. Discuss, with examples, five (5) common characteristics of achievement-oriented entrepreneurs. (20 marks) QUESTION 2 Explain the importance of materials requirement planning. Describe the steps involved in materials requirement planning process. (20 marks) END OF QUESTION PAPER  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL