QUESTION ONE [50] Entrepreneurship requires a unique set of personal qualities that contribute to the success of a business venture. These qualities include creativity, risk-taking, self-motivation, adaptability, resilience, and leadership skills. Developing and nurturing these personal qualities can be challenging, but it is essential for entrepreneurs who want to succeed in today's dynamic business environment. 1.1. Evaluate the importance of creativity for an entrepreneur and provide examples of how it can be used in a business venture. (20) 1.2. Compare and contrast the personal qualities of a successful entrepreneur with those of a successful manager. (15) 1.3. Synthesize the personal qualities of an entrepreneur and explain how they contribute to the success of a business venture.

QUESTION TWO [20] The identification and evaluation of business ideas and opportunities are crucial for entrepreneurial success. Business ideas refer to the conceptualization of a potential product or service, while business opportunities are situations that entrepreneurs can leverage to create a viable business. Entrepreneurs need to understand how to recognize and evaluate business ideas and opportunities to increase their chances of success. 2.1. Explain the importance of market research in identifying and evaluating business ideas and opportunities. (10) 2.2. Explain the concept of a SWOT analysis and how it can be used to evaluate a business opportunity.

QUESTION THREE [15] General management is an essential function that is required in all enterprises. It involves planning, organizing, leading, and controlling all aspects of an organization to achieve its goals efficiently and effectively. This function encompasses various sub-functions such as decision-making, problem- solving, communication, and coordination of activities. The success of an enterprise depends largely on the effectiveness of its general management function. Evaluate the effectiveness of the general management function in an enterprise you are familiar with, using appropriate criteria and standards. Justify your evaluation by identifying and analysing the strengths and weaknesses of the function.

QUESTION FOUR [15] Forms of business ownership refer to the legal structures under which a business operates. There are several types of business ownership, including sole proprietorships, partnerships, corporations, and limited liability companies (LLCs). Each form of ownership has its advantages and disadvantages, and the choice of the form of ownership depends on various factors such as liability, taxation, and management structure. Critically evaluate the relevance of the advantages and disadvantages in light of current trends and developments in the business environment.