Question 1

The most common form of value is social value.

Accepted Answer

A) True 
 B)False

Question 2

Asking yourself "What would Napoleon do?" in order to perceive what he would do in a situation is a technique most closely related to which of the following strategies?

Accepted Answer

A) development strategy 
B) search strategy 
C) imagination-based strategy 
D) habit-breaking strategies 
A) development strategy 
B) search strategy 
C) imagination-based strategy 
D) habit-breaking strategies

Question 3

According to the text,what is the most common form of value?

Accepted Answer

A) practical 
B) environmental 
C) social 
D) economic 
A) practical 
B) environmental 
C) social 
D) economic

Question 4

What are the three central characteristics of opportunity?

Accepted Answer

A) size of the market,level of disposable income of the customer,and access to manufacturing 
B) niche appeal,degree of innovation,and knowledge of market 
C) affordability,simplicity,and reliability 
D) potential economic value,novelty or newness,and perceived desirability 
A) size of the market,level of disposable income of the customer,and access to manufacturing 
B) niche appeal,degree of innovation,and knowledge of market 
C) affordability,simplicity,and reliability 
D) potential economic value,novelty or newness,and perceived desirability

Question 5

What strategies are employed to enhance and modify existing ideas in order to create better alternatives and new possibilities?

Accepted Answer

A) development strategies 
B) interpersonal strategies 
C) relationship-seeking strategies 
D) habit-breaking strategies 
A) development strategies 
B) interpersonal strategies 
C) relationship-seeking strategies 
D) habit-breaking strategies

Question 6

The finding approach to idea generation assumes that opportunities already exist independent of an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 7

What strategies involve taking time to think carefully about a problem by breaking it up into parts,or looking at it in a more general way in order to generate ideas about how certain products or services can be improved or made more innovative?

Accepted Answer

A) analytical strategies 
B) search strategies 
C) imagination-based strategies 
D) development strategies 
A) analytical strategies 
B) search strategies 
C) imagination-based strategies 
D) development strategies

Question 8

In which of the following stages of the IDEATE method would you think about future scenarios?

Accepted Answer

A) target 
B) discovery 
C) anticipate 
D) enhance 
A) target 
B) discovery 
C) anticipate 
D) enhance

Question 9

Define alertness and describe how you would apply this to opportunities in your entrepreneurship.

Accepted Answer

Alertness is the ability to identify opp

Question 10

Opportunity recognition is defined as ______.

Accepted Answer

A) recognition that ideas are not only new and potentially useful,but also have the potential to generate economic value 
B) production of ideas for something new 
C) production of ideas for something new that is also potentially useful 
D) the results of brainstorming with friends and family 
A) recognition that ideas are not only new and potentially useful,but also have the potential to generate economic value 
B) production of ideas for something new 
C) production of ideas for something new that is also potentially useful 
D) the results of brainstorming with friends and family

Question 11

Most inventions are a result of an isolated inventor.

Accepted Answer

A) True 
 B)False

Question 12

Early adopters can play a crucial role in what stage of the IDEATE method?

Accepted Answer

A) enhance 
B) discovery 
C) identify 
D) target 
A) enhance 
B) discovery 
C) identify 
D) target

Question 13

You are an entrepreneur.Describe how you would use the finding approach to create opportunities.Be specific.

Accepted Answer

Student answers will vary,but the findin

Question 14

A large market is required for a product or service to have value.

Accepted Answer

A) True 
 B)False

Question 15

The ______ stage of the IDEATE method involves expanding a concept to new applications.

Accepted Answer

A) identify 
B) enhance 
C) discovery 
D) expose 
A) identify 
B) enhance 
C) discovery 
D) expose

Question 16

Janet likes to take the time to think carefully about a problem by breaking it up into pieces so that she can look at it in a more general way.This,she finds,helps her generate ideas about how certain products and services can be improved or made more innovative.Which of the following terms applies to Janet?

Accepted Answer

A) active search 
B) alertness 
C) analytical strategies 
D) building approach 
A) active search 
B) alertness 
C) analytical strategies 
D) building approach

Question 17

Cognitive styles attributed to successful entrepreneurs and that are thought to influence opportunity recognition include ______.

Accepted Answer

A) attention to detail,adaptability,and wariness 
B) persistence and skepticism 
C) selflessness and self-motivation 
D) intelligence,creativity,and self-efficacy 
A) attention to detail,adaptability,and wariness 
B) persistence and skepticism 
C) selflessness and self-motivation 
D) intelligence,creativity,and self-efficacy

Question 18

Entrepreneurs who have alertness rationally and systematically search their environment or their particular information sets for opportunities.

Accepted Answer

A) True 
 B)False

Question 19

In the context of moving from idea generation to opportunity recognition,creativity is the ______.

Accepted Answer

A) production of ideas that will generate significant economic value 
B) production of ideas for something new but not useful 
C) production of ideas for something that is new and also potentially useful 
D) results of brainstorming with friends and family 
A) production of ideas that will generate significant economic value 
B) production of ideas for something new but not useful 
C) production of ideas for something that is new and also potentially useful 
D) results of brainstorming with friends and family

Question 20

Chloe's process includes plans of action that involve enhancing and modifying existing ideas to create better alternatives and new possibilities.Her process is best described as ______.

Accepted Answer

A) challenging 
B) using development strategies 
C) expanding 
D) exposing 
A) challenging 
B) using development strategies 
C) expanding 
D) exposing

The most common form of value is social value.

Asking yourself "What would Napoleon do?" in order to perceive what he would do in a situation is a technique most closely related to which of the following strategies?

According to the text,what is the most common form of value?

What are the three central characteristics of opportunity?

What strategies are employed to enhance and modify existing ideas in order to create better alternatives and new possibilities?

The finding approach to idea generation assumes that opportunities already exist independent of an entrepreneur.

What strategies involve taking time to think carefully about a problem by breaking it up into parts,or looking at it in a more general way in order to generate ideas about how certain products or services can be improved or made more innovative?

In which of the following stages of the IDEATE method would you think about future scenarios?

Define alertness and describe how you would apply this to opportunities in your entrepreneurship.

Opportunity recognition is defined as ______.

Most inventions are a result of an isolated inventor.

Early adopters can play a crucial role in what stage of the IDEATE method?

You are an entrepreneur.Describe how you would use the finding approach to create opportunities.Be specific.

A large market is required for a product or service to have value.

The ______ stage of the IDEATE method involves expanding a concept to new applications.

Cognitive styles attributed to successful entrepreneurs and that are thought to influence opportunity recognition include ______.

Entrepreneurs who have alertness rationally and systematically search their environment or their particular information sets for opportunities.

In the context of moving from idea generation to opportunity recognition,creativity is the ______.

Chloe's process includes plans of action that involve enhancing and modifying existing ideas to create better alternatives and new possibilities.Her process is best described as ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 3: Creating and Recognizing New Opportunities

The most common form of value is social value.

Asking yourself "What would Napoleon do?" in order to perceive what he would do in a situation is a technique most closely related to which of the following strategies?

According to the text,what is the most common form of value?

What are the three central characteristics of opportunity?

What strategies are employed to enhance and modify existing ideas in order to create better alternatives and new possibilities?

The finding approach to idea generation assumes that opportunities already exist independent of an entrepreneur.

What strategies involve taking time to think carefully about a problem by breaking it up into parts,or looking at it in a more general way in order to generate ideas about how certain products or services can be improved or made more innovative?

In which of the following stages of the IDEATE method would you think about future scenarios?

Define alertness and describe how you would apply this to opportunities in your entrepreneurship.

Opportunity recognition is defined as ______.

Most inventions are a result of an isolated inventor.

Early adopters can play a crucial role in what stage of the IDEATE method?

You are an entrepreneur.Describe how you would use the finding approach to create opportunities.Be specific.

A large market is required for a product or service to have value.

The ______ stage of the IDEATE method involves expanding a concept to new applications.

Cognitive styles attributed to successful entrepreneurs and that are thought to influence opportunity recognition include ______.

Entrepreneurs who have alertness rationally and systematically search their environment or their particular information sets for opportunities.

In the context of moving from idea generation to opportunity recognition,creativity is the ______.

Chloe's process includes plans of action that involve enhancing and modifying existing ideas to create better alternatives and new possibilities.Her process is best described as ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters