SECTION B
Answer any TWO QUESTIONS from this section
QUESTION 1
A) Nana Yaw Poku started his career as a driver to Mr. Kofi Kyereh, an established businessman in Kumasi. Through mentorship, advice, and inspirations from Mr. Kofi Kyereh, Nana Poku developed the impetus for entrepreneurship.
To start his business as an entrepreneur, Mr. Poku combined resources with Mr. Prah the general Manager of Cocoa Tea Company Ltd and took over the ownership of that business from the existing owners.
Though Mr. Poku had initial challenges with generating business ideas and its funding, he now owns and manages six different businesses.
You are required to answer the following questions based on the short case:
I. What is the term given to the social factor that influenced Mr. Poku into Entrepreneurship? Give reason to your answer. [3 marks]
II. According to the passage, what option of Small Business acquisition has transpired between Mr. Poku and Mr. Prah. Give reasons for your answers. [3 marks]
III. Explain one advantage of your answer in (II) over the other options available for small business buyers. [2 marks]
IV. Mr. Poku can be classified as what type of entrepreneur and why? [2 Marks]
(B) Mark a serial entrepreneurial has shown interest in buying a hotel that has been put up for sale by its owner. As a business consultant, examine any five logical and methodological approach to follow in buying a new business. [10 marks]
QUESTION 2
A) Procurement is a key business strategy that ensures critical materials are available for use by the organisation. Explain the steps in the procurement process. [10 marks]
B) Discuss four technological resources available to small firm. [10 Marks]
QUESTION 3
A) Discuss the key activities involved in Human Resource Management. [14 marks]
B) Discuss three sources of short-term business finance available
to small business owners. [6 marks]
QUESTION 4
A) State and explain five critical factors to consider at the pre-start up and start-up phases of new venture development. [10 marks)
B) As a student who has taken entrepreneurship, state and explain
four methods of generating business ideas. [10 marks]
