Exam 2: Recognizing Opportunities and Generating Ideas

It is more likely that an entrepreneur will get a new business idea through a strong-tie than a weak-tie relationship.

The What Wrong feature in Chapter 2 focuses on Everpix, a company that enabled users to organize and store photos online in an innovative manner. Regrettably, Everpix failed. According to the feature, Everpix's failure resulted from that fact that it's founders spent too much time ________.

An increased focus on health and wellness has resulted in a number of new business ideas including healthier foods and beverages, yoga instruction and training centers, and nutrition consulting. An increased focus on health and wellness is an important ________ that is creating opportunities in many areas for entrepreneurial firms.

Describe how brainstorming can help facilitate the generation of ideas, and outline the four rules for conducting a brainstorming session.

Aging of the population, the increasing diversity of the workplace, and the continual migration of people from small towns and rural areas to cities are important economic trends.

Jessica Smith is thinking about starting a chain of fitness centers for young adults ages 18-30. Which of the following is NOT an appropriate criterion for Jessica to test her idea against?

Which of the following is NOT one of the rules for a formal brainstorming session?

Which of the following is NOT an example of a social force?

Several studies have shown that prior experience in an industry helps entrepreneurs recognize business opportunities.

An opportunity has the following four essential qualities: ________.

Incubation is the stage of the creative process during which an idea is subjected to scrutiny and analyzed for its viability.

The three ways to identify an opportunity include ________.

The number one rule for a brainstorming session is ________.

SafetyWeb is a Web-based service that helps parents protect their children's online reputation, privacy, and safety. Which of the following approaches to identifying an opportunity was most likely the impetus for SafetyWeb?

Day-in-the-life research is a form of anthropological research.

According to research in this area, it is more likely that an entrepreneur will get a new business idea through a ________ -tie relationship than the alternatives.

Macy is a very creative person. Often, when trying to generate a novel or useful idea, she spends several days "mulling over" the idea, which is her way of thinking it through, at both the conscious and unconscious level. The stage of the creative process that Macy is in while she is mulling over an idea is referred to as ________.

A(n) ________ is a favorable set of circumstances that creates a need for a new product, service, or business.

For its major products, Intuit (maker of TurboTax, Mint and other products) uses secondary research.

According to the textbook, research results over time consistently suggest that somewhere between ________ percent of those who start businesses got their ideas through social contacts.