MGT 370 Exam 1
**Answer any two questions. Each answer is worth 75 points. The depth and breadth of
your answer should be worth 75 points.
***Answers should be in your own words. Exam will be submitted in Turnitin for
Q 1. Under Week 1 you read an article titled “The Meaning of Entrepreneurship: A Modular
concept” by Michael Peneder. Discuss all the building blocks of entrepreneurship from the
Q 2. Discuss at least, five (5) entrepreneurial characteristics in details. Provide one example of a
famous entrepreneur under each characteristic and explain why you think the entrepreneur
exhibit that characteristic.
Q 3. Entrepreneurs are said to be creative and innovators. A) Explain the difference between
creativity and innovation. B) Explain the components of creativity. C) Explain why innovation is
important for entrepreneurship and in what manner it is applied in entrepreneurship.
Q 4. Explain Porter’s Five-forces analysis. Explain every force in detail by explaining different
factors under each force that increase or decrease the thr