Exam 3: Creating and Recognizing New Opportunities

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

What strategies involve consciously making links between concepts or ideas that are not normally associated with each other?

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

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?

Opportunity recognition is defined as ______.

Juan Giraldo,Saurabh Gupta,Malinha Khalid,and Jazmine Valencia all found ways to ______.

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

Describe the three processes that entrepreneurs go through before they are able to identify an opportunity for a new business venture (those that connect idea generation to opportunity recognition).What is the most crucial aspect of each step if you want to maximize the process?

Researchers have defined many formal methods of idea generation that are effective for entrepreneurs.

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

Most inventions are a result of an isolated inventor.

Every idea is an opportunity.

Muhammed is working on a project for a new gaming console that needs a floating pivot point,something with which he has no experience.After thinking about the problem,he remembers watching his grandfather,a sign painter,use a maul stick as a pivot point for his wrist,and realizes he can use that knowledge to apply it to his console design.This is an example of what king of strategy?

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?

The ______ approach is a concept that assumes that opportunities exist independent of entrepreneurs and are waiting to be discovered.

Identify a newly launched product (you can use new television commercials as your source)and evaluate whether it involves innovation,invention,or improvement of a product.

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

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?

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