Question 1

Entrepreneurs are always looking for unique opportunities to fill needs or wants.

Accepted Answer

A) True 
 B)False

Question 2

Entrepreneurs sense potential in business problems by asking

Accepted Answer

A) who is to blame for failures? 
B) what about profits? 
C) what if and why not? 
D) farfetched, unimaginative questions. 
A) who is to blame for failures? 
B) what about profits? 
C) what if and why not? 
D) farfetched, unimaginative questions.

Question 3

Innovation is the process by which entrepreneurs convert opportunities into marketable ideas.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not considered a principle of innovation?

Accepted Answer

A) being action oriented 
B) starting big 
C) investing in securities 
D) aiming low 
A) being action oriented 
B) starting big 
C) investing in securities 
D) aiming low

Question 5

Extension is the combination of existing concepts and factors into a new formulation.

Accepted Answer

A) True 
 B)False

Question 6

All of the following are characteristics of a creative climate except

Accepted Answer

A) a large variety of personality types. 
B) an enjoyment in experimenting with new ideas. 
C) restricted communication with outsiders. 
D) a willingness to accept change. 
A) a large variety of personality types. 
B) an enjoyment in experimenting with new ideas. 
C) restricted communication with outsiders. 
D) a willingness to accept change.

Question 7

It takes ____, not _____, to innovate successfully.

Accepted Answer

A) work; rest 
B) rest; work 
C) work; genius 
D) genius; work 
A) work; rest 
B) rest; work 
C) work; genius 
D) genius; work

Question 8

Shifts in consumer tastes and attitudes are an example of

Accepted Answer

A) an infeasible opportunity. 
B) industry and market changes. 
C) the fickle consumer. 
D) problems for the entrepreneur. 
A) an infeasible opportunity. 
B) industry and market changes. 
C) the fickle consumer. 
D) problems for the entrepreneur.

Question 9

Ray Kroc's development of McDonald's would be a good illustration of which of the following forms of innovation?

Accepted Answer

A) invention 
B) extension 
C) duplication 
D) synthesis 
A) invention 
B) extension 
C) duplication 
D) synthesis

Question 10

The incubation process involves

Accepted Answer

A) working harder. 
B) letting the subconscious work. 
C) talking with friends. 
D) changing jobs. 
A) working harder. 
B) letting the subconscious work. 
C) talking with friends. 
D) changing jobs.

Question 11

Which of the following is considered a myth of innovation?

Accepted Answer

A) Innovation relies on blue-sky ideas. 
B) Small projects develop into successful innovations. 
C) Innovations are unpredictable. 
D) Creativity can be learned. 
A) Innovation relies on blue-sky ideas. 
B) Small projects develop into successful innovations. 
C) Innovations are unpredictable. 
D) Creativity can be learned.

Question 12

Which of the following statements is true with regard to creativity?

Accepted Answer

A) People's approach will remain the same, but their process will change. 
B) People's process will remain the same, but their approach will change. 
C) People's approach and process will both remain the same. 
D) People's approach and process will both change. 
A) People's approach will remain the same, but their process will change. 
B) People's process will remain the same, but their approach will change. 
C) People's approach and process will both remain the same. 
D) People's approach and process will both change.

Question 13

Innovators must always search for new ideas, opportunities, or sources of innovation.

Accepted Answer

A) True 
 B)False

Question 14

Creativity cannot be developed or improved.

Accepted Answer

A) True 
 B)False

Question 15

Synthesis is the combining of two new concepts into an existing formulation.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following mental habits inhibits creativity and innovation?

Accepted Answer

A) either/or thinking, stereotyping 
B) functional perspective, mind-sets 
C) security hunting, risks 
D) stereotyping, incubation 
A) either/or thinking, stereotyping 
B) functional perspective, mind-sets 
C) security hunting, risks 
D) stereotyping, incubation

Question 17

Two important components of creative problem solving are _____ and _____.

Accepted Answer

A) design; solution 
B) intelligence; technical competence 
C) capital; opportunity 
D) process; people 
A) design; solution 
B) intelligence; technical competence 
C) capital; opportunity 
D) process; people

Question 18

Which of the following is not one of the phases in the creative process?

Accepted Answer

A) background or knowledge accumulation 
B) evaluation and implementation 
C) the incubation process 
D) preliminary investigation 
A) background or knowledge accumulation 
B) evaluation and implementation 
C) the incubation process 
D) preliminary investigation

Question 19

Only new patterns of thinking lead to new ideas and innovation.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true?

Accepted Answer

A) A good innovator should be a genius. 
B) Innovators rarely work in more than one area. 
C) Innovators are poor workers. 
D) A good innovator uses only the left side of the brain. 
A) A good innovator should be a genius. 
B) Innovators rarely work in more than one area. 
C) Innovators are poor workers. 
D) A good innovator uses only the left side of the brain.

Entrepreneurs are always looking for unique opportunities to fill needs or wants.

Entrepreneurs sense potential in business problems by asking

Innovation is the process by which entrepreneurs convert opportunities into marketable ideas.

Which of the following is not considered a principle of innovation?

Extension is the combination of existing concepts and factors into a new formulation.

All of the following are characteristics of a creative climate except

It takes , not _, to innovate successfully.

Shifts in consumer tastes and attitudes are an example of

Ray Kroc's development of McDonald's would be a good illustration of which of the following forms of innovation?

The incubation process involves

Which of the following is considered a myth of innovation?

Which of the following statements is true with regard to creativity?

Innovators must always search for new ideas, opportunities, or sources of innovation.

Creativity cannot be developed or improved.

Synthesis is the combining of two new concepts into an existing formulation.

Which of the following mental habits inhibits creativity and innovation?

Two important components of creative problem solving are _ and _.

Which of the following is not one of the phases in the creative process?

Only new patterns of thinking lead to new ideas and innovation.

Which of the following statements is true?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Exam 5: Innovation: the Creative Pursuit of Ideas

Entrepreneurs are always looking for unique opportunities to fill needs or wants.

Entrepreneurs sense potential in business problems by asking

Innovation is the process by which entrepreneurs convert opportunities into marketable ideas.

Which of the following is not considered a principle of innovation?

Extension is the combination of existing concepts and factors into a new formulation.

All of the following are characteristics of a creative climate except

It takes ____, not _____, to innovate successfully.

Shifts in consumer tastes and attitudes are an example of

Ray Kroc's development of McDonald's would be a good illustration of which of the following forms of innovation?

The incubation process involves

Which of the following is considered a myth of innovation?

Which of the following statements is true with regard to creativity?

Innovators must always search for new ideas, opportunities, or sources of innovation.

Creativity cannot be developed or improved.

Synthesis is the combining of two new concepts into an existing formulation.

Which of the following mental habits inhibits creativity and innovation?

Two important components of creative problem solving are _____ and _____.

Which of the following is not one of the phases in the creative process?

Only new patterns of thinking lead to new ideas and innovation.

Which of the following statements is true?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

It takes , not _, to innovate successfully.

Two important components of creative problem solving are _ and _.