Exam 3: Creating and Recognizing New Opportunities

Finding solutions to problems and meeting customer needs are at the heart of opportunity recognition.

The design pathway is the least complex yet most value-creating of the four pathways.

Of the four pathways to opportunity identification,which one can uncover high-value opportunities because of the entrepreneur's focus on meeting an unmet need?

Stefan is an entrepreneur who involves group members in stimulating each other to come up with new or improved ideas.Stefan uses which of the following?

Research shows that entrepreneurs with prior knowledge of an industry or market are more likely to recognize opportunities than entrepreneurs who do not have such knowledge.

How do "irrelevant" products,like New Coke or Crystal Pepsi,score on Neck's Idea Classification Matrix?

Which pathway to opportunity identification is the least complicated (and probably the most common)?

A shoe company starts an initiative to manufacture an affordable shoe for the poor in developing countries.This is an example of what form of value?

History shows that inventions are often created by more than one individual over a long period of time and are often improvements on existing products.

Maddox likes to use a variety of techniques to help shift his mind out of mental fixedness in order to bring about creative insights.Maddox uses which of the following?

Inventions that succeed in finding a market move on to the ______ stage.

Zayden is a successful entrepreneur who is ready for a new venture.He's not quite sure what he will embark on,but he is actively looking at several areas that are interesting to him to find a new opportunity.Which of the four pathways to opportunity identification is Zayden taking?

During the idea generation process,it's best not to consider ideas that are impractical,overly obvious,wild,or even silly.

Typically,entrepreneurs go through three processes before they are able to identify an opportunity for a new business venture: idea generation,creativity,and opportunity recognition.

Gael is an entrepreneur.To get new ideas,she suspends disbelief and drops constraints in order to create unrealistic states or fantasies.Gael uses which of the following?

According to the text,what three criteria does an idea have to meet in order to be rated as an innovation?

Group brainstorming is an example of a(n)______ strategy.

The effectuating approach involves using what you know,whom you know,and who you are.

By envisioning themselves as human hairs,which type of strategy did the Gillette team use to come up with a new shampoo?

Pattern recognition is the process of identifying links or connections between ______.