Question 1: (25 marks)

Whether a venture is launched by an individual entrepreneur or an entrepreneurial team effective leadership is needed.

1. Research indicates that entrepreneurs tend to have characteristics that distinguish them from corporate managers. Explain in details the differences that distinguish entrepreneurs from corporate managers. (15marks)
2. Resources are an essential element of a successful entrepreneurial launch or to start a new venture. As a strategy consultant, critically discuss important resources to be considered while launching a new venture. (10marks)

Question 2: (25 marks)

The problems of many firms may be attributed to absence of effective control systems and lack for proper corporate governance that failed to make necessary changes in their strategy and objectives.

1. Discuss corporate governance mechanisms available for corporate top management. Explain how corporate governance plays a control system role. (12.5marks)
2. Explain why control models are vital to strategy implementation. Critically discuss a control model to ensure a successful strategy implementation in a changing and unpredictable environment. (12.5marks)

Question 3: (25 marks)

A firm has many options available when it decides to expand into international markets and there is a variety of modes of foreign entry.Critically discuss different possible entry modes of business aiming at international expansion. Suggest possible entry mode for a car manufacturer in a market with high political risk but with an increasing demand in the market for their cars.

Question 4: (25 marks)

Ethical crisis can occur in virtually any organization. Critically discuss some of the key elements systems and procedures that organizations must have to become a highly ethical and that can help to prevent such crisis.