Exam 2: Recognizing Opportunities and Generating Ideas

In 2000, Tish Cirovolo realized that there were no guitars on the market made specifically for women. As a result, she started Daisy Rock Guitars, a company that makes guitars just for women. Daisy Rock Guitars are stylish and come in feminine colors, and incorporate design features that accommodate a woman's smaller hand and build. The best way to describe how Cirovolo's business idea was recognized is ________.

A common way that gaps in the marketplace are recognized is ________.

Economic factors, social factors, technological advances, and political action and regulatory changes are the most important trends to follow in trying to identify opportunities.

An idea is a thought, impression, or notion. It may or may not meet the criteria of an opportunity.

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

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

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?

Weak-tie relationships are characterized by infrequent interaction and ties between casual acquaintances.

________ is the process of generating a novel or useful idea.

Which of the following is an example of how to encourage creativity at the organizational level?

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

Economic forces impact the opportunities available to entrepreneurs. Which of the following alternatives reflects a set of economic forces that would be of interest to entrepreneurs?

Kelly Pryor, who has launched several successful entrepreneurial firms, seems to have a "sixth sense" that allows him to see opportunities that others miss. Kelly's ability is referred to as _________.

In the five-stage creative process, the flash of recognition, or what is sometimes referred to as the "eureka" experience, occurs in the ________ stage.

Hulu.com allows people to watch television shows and movies on the Internet. Hulu.com's business opportunity was made possible by ________ that enhanced the ability of television shows and movies to be uploaded to the Internet and played by anyone with a suitable computer and an Internet connection.