Question 1

What type of innovation is illustrated by the ideas of the airplane and penicillin

Accepted Answer

A)  Ordinary innovation 
B)  Continuous innovation 
C)  Technological innovation 
D)  Breakthrough innovation 
A)  Ordinary innovation 
B)  Continuous innovation 
C)  Technological innovation 
D)  Breakthrough innovation

Question 2

The Occupational Safety and Health Act (OSHA)mandated that first-aid kits be available in business establishments employing more than three people.A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act.This is an example of:

Accepted Answer

A)  distribution channels as an excellent source for new ideas. 
B)  existing products and services as a source for new ideas. 
C)  potential consumers as a source for new ideas. 
D)  government regulations as a source for new product ideas. 
A)  distribution channels as an excellent source for new ideas. 
B)  existing products and services as a source for new ideas. 
C)  potential consumers as a source for new ideas. 
D)  government regulations as a source for new product ideas.

Question 3

In the product development stage,consumer reaction to the physical product/service is determined.

Accepted Answer

A) True 
 B)False

Question 4

The largest source of new product ideas is:

Accepted Answer

A)  the U.S. Patent Office. 
B)  the entrepreneur's research and development. 
C)  customers. 
D)  the federal government. 
A)  the U.S. Patent Office. 
B)  the entrepreneur's research and development. 
C)  customers. 
D)  the federal government.

Question 5

Trends often provide one of the greatest opportunities for starting a new venture.

Accepted Answer

A) True 
 B)False

Question 6

Entrepreneurs are unable to carefully assess each and every innovative idea and opportunity.

Accepted Answer

A) True 
 B)False

Question 7

E-commerce offers the entrepreneur the opportunity to be very creative and innovative and e-commerce continues to increase on an annual basis.Discuss the three broad e-commerce channels that companies offer to consumers.There are three e-commerce channels that companies offer to consumers: traditional website,dedicated mobile-enabled websites and mobile apps.

Accepted Answer

In developing a website,the most importa

Question 8

Creativity tends to decrease with age.

Accepted Answer

A) True 
 B)False

Question 9

The stage in the product planning and development process in which actual sales results are available is the:

Accepted Answer

A)  idea stage. 
B)  concept stage. 
C)  product development stage. 
D)  test marketing stage. 
A)  idea stage. 
B)  concept stage. 
C)  product development stage. 
D)  test marketing stage.

Question 10

Identify and describe the three major types of innovation.

Accepted Answer

A.Breakthrough-fewest in number,protecti

Question 11

The product life cycle consists of five main stages.

Accepted Answer

A) True 
 B)False

Question 12

Briefly summarize the five fruitful sources of new ideas for entrepreneurs discussed in the textbook.

Accepted Answer

Some of the more fruitful sources of new

Question 13

Focus groups use which of the following methods

Accepted Answer

A)  A moderator leads the group in an open, in-depth discussion. 
B)  A moderator asks each individual in the group questions, interview style. 
C)  Each participant fills out a questionnaire, followed by individual exit interviews. 
D)  Each participant obtains new ideas and solutions by focusing on problems. 
A)  A moderator leads the group in an open, in-depth discussion. 
B)  A moderator asks each individual in the group questions, interview style. 
C)  Each participant fills out a questionnaire, followed by individual exit interviews. 
D)  Each participant obtains new ideas and solutions by focusing on problems.

Question 14

Discuss both the Gordon method and Forced Relationship creative problem solving techniques.

Accepted Answer

A.Gordon method-unlike many other creati

Question 15

The Gordon method,like most other methods,begins with group members not knowing the exact nature of the problem.

Accepted Answer

A) True 
 B)False

Question 16

List,in order,the stages of the product planning and development process.

Accepted Answer

1.Idea
2.Concept
3.P

Question 17

In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers

Accepted Answer

A)  Idea stage 
B)  Concept stage 
C)  Product development stage 
D)  Commercialization stage 
A)  Idea stage 
B)  Concept stage 
C)  Product development stage 
D)  Commercialization stage

What type of innovation is illustrated by the ideas of the airplane and penicillin

The Occupational Safety and Health Act (OSHA)mandated that first-aid kits be available in business establishments employing more than three people.A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act.This is an example of:

In the product development stage,consumer reaction to the physical product/service is determined.

The largest source of new product ideas is:

Trends often provide one of the greatest opportunities for starting a new venture.

Entrepreneurs are unable to carefully assess each and every innovative idea and opportunity.

Creativity tends to decrease with age.

The stage in the product planning and development process in which actual sales results are available is the:

Identify and describe the three major types of innovation.

The product life cycle consists of five main stages.

Briefly summarize the five fruitful sources of new ideas for entrepreneurs discussed in the textbook.

Focus groups use which of the following methods

Discuss both the Gordon method and Forced Relationship creative problem solving techniques.

The Gordon method,like most other methods,begins with group members not knowing the exact nature of the problem.

List,in order,the stages of the product planning and development process.

In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting New Entries

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 4: Creativity and the Business Idea

What type of innovation is illustrated by the ideas of the airplane and penicillin

The Occupational Safety and Health Act (OSHA)mandated that first-aid kits be available in business establishments employing more than three people.A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act.This is an example of:

In the product development stage,consumer reaction to the physical product/service is determined.

The largest source of new product ideas is:

Trends often provide one of the greatest opportunities for starting a new venture.

Entrepreneurs are unable to carefully assess each and every innovative idea and opportunity.

Creativity tends to decrease with age.

The stage in the product planning and development process in which actual sales results are available is the:

Identify and describe the three major types of innovation.

The product life cycle consists of five main stages.

Briefly summarize the five fruitful sources of new ideas for entrepreneurs discussed in the textbook.

Focus groups use which of the following methods

Discuss both the Gordon method and Forced Relationship creative problem solving techniques.

The Gordon method,like most other methods,begins with group members not knowing the exact nature of the problem.

List,in order,the stages of the product planning and development process.

In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting New Entries

Identifying and Analyzing Domestic and International Opportunities

Protecting the Idea and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters