Exam 3: Cognitive Foundations of Entrepreneurship: Creativity and Opportunity Recognition

Say you are sitting in class and the professor is saying something that is contradictory to what you believe to be true. Since it contradicts what you believe,you do not think it is important. Your actions represent

Some people are more likely than others to recognize opportunities because they have better access to certain kinds of information and they are able to utilize this information once they have it.

Any idea for a new product,service,raw material,market or production process that can be successfully exploited so as to generate financial benefits for stakeholders has been viewed as constituting an opportunity. This definition of an opportunity is stated in

Assume that you are remembering the first time you met a particular person. In recalling this memory,you are using

The process through which individuals conclude that they have identified the potential to create something new that has the capacity to generate economic value is called

Telling someone the distance between Nashville and Memphis would be an example of

Ideas occur when individuals use existing knowledge they have gained from their experience to generate something new.

The confluence approach suggests that basic cognitive processes underlie creative thought.

Assume that you just looked in your address book to find where a friend lives. Then you walk down the street to find that address. In remembering the address while you are looking for it,you are using

There are many ways of gaining a broad and rich knowledge base,but research findings indicate that among the most useful from the point of view of becoming an entrepreneur is

The field of cognitive science suggests

A person hears the phrase "small business." She immediately thinks of all the family-owned businesses she knows about. She is using prototypes to interpret the meaning of small business.

According to the confluence approach,creativity can emerge out of the convergence of several basic resources,including

Successful intelligence refers to a combination of creative intelligence,practical intelligence,and analytic intelligence.

Intelligence is an individual's ability to understand complex ideas,learn from experience,adapt effectively to the world around them,engage in various forms of reasoning,and to overcome a wide range of obstacles.

A basic finding in entrepreneurship research is that the more experience people have in a given field,

Many entrepreneurs get their start by noticing a need that is not now being met for some people or businesses,and then filling that need - hopefully better than anyone else can.

Define creativity and discuss its importance,concepts,and hierarchical networks.

Janet needs to make an important decision about managing her business. As she thinks about the situation,she quickly recalls a similar situation in a friend's business. Because she thinks the friend's situation and hers are similar,she decides to take the same action that her friend did;to use her friend's actions as simple rules to help her through the complicated decision. Unfortunately,Janet is not aware that there was another major factor in her friend's situation that influenced the decision heavily. Which of the following best describes what Janet is using in this situation?

Research shows that people generally cannot be taught to be better able to recognize opportunities.