Guidelines for Bus 1177 Midterm
(Readings from the text: Prologue, Stages 1, 2, 10, 11, Apprenticeship materials, plus
selections from “7 Habits” (see below in list) plus SMART and idea screening)
1. Definition of entrepreneurship
2. Concept of apprenticeship – Mooney case
3. Proactivity – Covey
4. Common learnable characteristics of successful entrepreneurs
5. Attributes of an “Opportunity”
6. Ideal business attributes
7. Reasons for selling a business
8. Time management matrix (7 Habits)
9. Usefulness of financial statements
10. Buying a corporate business
11. Pros and cons of buying an existing business
12. Categories of businesses
13. Screening business opportunities
14. The Maturity Continuum (7 Habits)
15. Goodwill
16. Issues relating to the family business
17. The merits of franchising; mutually beneficial relationship between the parties
The test follows a short-answer format with questions valued at 10, 5, or 2 marks.
Remember that this is a test of your understanding of course material. You must
integrate course material into your answers. Therefore, as you prepare, you are well
advised to commit to memory key definitions/concepts so that you can rely upon the
same in your answering of the questions. The 10 and 5 mark questions will stem from
the above list of topics. I recommend that you compile notes on each of these topics
(discussion in class, textbook, additional readings), study and fully understand the topics
so that you can answer any question in relation to these topics. In some instances on
these questions, you will have a choice between two questions. The 2 mark questions will
stem from your readings and class discussion. There will be no surprises if you prepare
well. Expect to write for most of the 80 minutes allotted for the test. (Start doing your
finger exercises now!!)
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