Question 1

The search approach is the most common form of identifying new opportunities.

Accepted Answer

A) True 
 B)False

Question 2

List the seven main strategies for idea generation and give an example of each.

Accepted Answer

The answer of List the seven main strategies for idea...

Question 3

Mila assumes that opportunities exist by making links between concepts or ideas that are not normally associated with each other.Mila believes in ______.

Accepted Answer

A) active search 
B) alertness 
C) analytical strategies 
D) relationship-seeking strategies

Question 4

Sofia is trying to solve a problem in her design for a new type of remote car locking system and she's stuck.To stimulate her creativity,she sits down and imagines that she herself is a car.What type of strategy is she employing?

Accepted Answer

A) development 
B) imagination-based 
C) relationship-seeking 
D) habit-breaking

Question 5

Idea generation is defined as the production of ideas for something ______.

Accepted Answer

A) profitable 
B) new 
C) useful 
D) scalable

Question 6

There are no distinct approaches to thinking creatively,so creative inspiration must be left to chance.

Accepted Answer

A) True 
 B)False

Question 7

Habit-breaking strategies involve consciously making links between concepts or ideas not normally associated with each other.

Accepted Answer

A) True 
 B)False

Question 8

Discuss the strategies of prior knowledge and pattern recognition.How would you use these strategies in your own entrepreneurial endeavors?

Accepted Answer

The answer of Discuss the strategies of prior knowledge and...

Question 9

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

Accepted Answer

The answer of You are an entrepreneur.Describe how you would...

Question 10

The founders of Knock Knock City,which allows travelers to store their luggage while they explore a city they are visiting,used pattern recognition to spot a viable entrepreneurial opportunity.

Accepted Answer

A) True 
 B)False

Question 11

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?

Accepted Answer

The answer of Describe the three processes that entrepreneurs go...

Question 12

Describe habit-breaking strategies for idea generation and how you would use this type of strategy as a technique for your employer or business venture.

Accepted Answer

The answer of Describe habit-breaking strategies for idea generation and...

Question 13

According to the text,all forms of value are predicated on what assumption?

Accepted Answer

A) The entrepreneur is emotionally invested in the product or service. 
B) There is an existing market for a product or service that can be tapped into. 
C) There is a market populated with enough people to buy your product or service. 
D) The product or service is able to reach a large,diverse audience.

Question 14

Ideas need to be unique or novel to appeal to customers.

Accepted Answer

A) True 
 B)False

Question 15

Effectuating opportunities is focused on creating opportunities.

Accepted Answer

A) True 
 B)False

Question 16

Define pattern recognition and describe how you would apply this to opportunities generated for your entrepreneurship.

Accepted Answer

The answer of Define pattern recognition and describe how you...

Question 17

In the text's examination of the evolution of the modern-day food truck,what stage of the IDEATE method involved the concept morphing into an entirely different concept?

Accepted Answer

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

Question 18

What strategies involve techniques that help to break our minds out of mental fixedness in order to bring about creative insights?

Accepted Answer

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

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Lyla likes to focus on a clear problem and develop a solution.She uses which of the following approaches?

Accepted Answer

A) relationship-seeking strategies 
B) search strategies 
C) finding 
D) prior knowledge

Exam 3: Creating and Recognizing New Opportunities

The search approach is the most common form of identifying new opportunities.

List the seven main strategies for idea generation and give an example of each.

Mila assumes that opportunities exist by making links between concepts or ideas that are not normally associated with each other.Mila believes in ______.

Sofia is trying to solve a problem in her design for a new type of remote car locking system and she's stuck.To stimulate her creativity,she sits down and imagines that she herself is a car.What type of strategy is she employing?

Idea generation is defined as the production of ideas for something ______.

There are no distinct approaches to thinking creatively,so creative inspiration must be left to chance.

Habit-breaking strategies involve consciously making links between concepts or ideas not normally associated with each other.

Discuss the strategies of prior knowledge and pattern recognition.How would you use these strategies in your own entrepreneurial endeavors?

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

The founders of Knock Knock City,which allows travelers to store their luggage while they explore a city they are visiting,used pattern recognition to spot a viable entrepreneurial opportunity.

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?

Describe habit-breaking strategies for idea generation and how you would use this type of strategy as a technique for your employer or business venture.

According to the text,all forms of value are predicated on what assumption?

Ideas need to be unique or novel to appeal to customers.

Effectuating opportunities is focused on creating opportunities.

Define pattern recognition and describe how you would apply this to opportunities generated for your entrepreneurship.

In the text's examination of the evolution of the modern-day food truck,what stage of the IDEATE method involved the concept morphing into an entirely different concept?

What strategies involve techniques that help to break our minds out of mental fixedness in order to bring about creative insights?

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

Lyla likes to focus on a clear problem and develop a solution.She uses which of the following approaches?