ENTR 3310
In order to start her company ______, Sara Blakely spent time researching the shapewear industry. Handful Under Armour Oiselle Spanx
Spanx
Why is mindset important in the recognition of opportunity? You know to take financial risks. You watch others start new ventures. You see an idea when it presents itself. You know when to discourage people.
You see an idea when it presents itself.
If a work colleague tells you about his new work venture over lunch, you should tell your boss. True False
False
Most inventions come from a single idea. True False
False
We are born with creativity. True False
False
We are born with metacognitive awareness. True False
False
One of the seven truths about entrepreneurs is they act less than they plan. True False
false
Creating a new product or venture within a large corporation is known as ______. intrapreneurship startup benefit entrepreneurship family enterprise
intrapreneurship
Throughout the ages, entrepreneurs have made changes to the world with inventions such as Benjamin Franklin's ______. blimp lightning rod automatic dishwasher potato chip
lightning rod
Franklin Yancey's entrepreneurial ______ made it possible for him to start his stadium seat business. spirit help mindset drive
mindset
It was Franklin Yancey's ______ that kept him on the right track and ultimately led to his success in multiple businesses. risk-taking focus experience persistence mindset
mindset
Several reasons exist as to why entrepreneurs spot opportunities more than non-entrepreneurs, including the fact that they ______. possess different cognitive styles do not take risks have more passion are luckier
possess different cognitive styles
The art of improvisation is important to entrepreneurs for ______. creating conflict among other entrepreneurs teaching employees how to react to tough customers thinking quickly on their feet making tough times funny
thinking quickly on their feet
Entrepreneurs inside consist of employees who think and act entrepreneurially within an organization. True False
true
By studying jazz pianists using an MRI machine, scientists learned that when the self-censoring area part of the brain is shut off, the brain is able to generate ______. expected results self-control memorized concepts unpredictable ideas
unpredictable ideas
Liddabit Sweets used the finding pathway to start a new food product business. True False
False
Why did Richard Lindon look for an option for footballs other than animal bladders? The new balls were easier to make. It was too expensive to continue to make them this way. His father told him about rubber-inflated tubes. His wife died from an infection from helping him inflate the balls.
His wife died from an infection from helping him inflate the balls.
______ is the art of spontaneously creating something without preparation. Improvisation Creativity Imagination Passion
Improvisation
Inventions that succeed in finding a market move to the innovation stage. True False
True
NASA needed a lot of imagination to come up with items used in outer space. True False
True
People who engage in improvisation tend to be more tolerant of failure. True False
True
Those with an entrepreneurial mindset move quickly under uncertain conditions. True False
True
What is the concept that allows us to recognize opportunities even when we are not looking? alertness passion habit capacity
alertness
A(n) ______ person feels entitled to success and that the person will be successful without help. self-confident entrepreneurial happy arrogant
arrogant
You can change your mindset by ______. taking on easier challenges and showing yourself you can do it becoming aware of the voice in your head and realizing that you have a choice in how to interpret what it is telling you questioning your ability to take on a new challenge making sure you are lucky and smart
becoming aware of the voice in your head and realizing that you have a choice in how to interpret what it is telling you
The methods to increase self-awareness and manage behaviors, particularly when dealing with necessary but unpleasant tasks, are ______. self-observation habit behavior-focused strategies passion
behavior-focused strategies
Improvisation is taught at top business schools such as UCLA's Anderson School of Management to teach skills such as ______. outsourcing communication negotiation teamwork
communication negotiation teamwork
If your job at the company is to improve existing products, you are probably using the ______ strategy. updating development corporate imagination
development
As an important component of entrepreneurship, creativity is ______. genetic difficult to define self-cueing refreshing
difficult to define
When applying the ______ stage, the entrepreneur may come up new applications or innovative twists. identity brainstorm enhance discovery
enhance
The founder of Chobani admitted to which emotional roadblock? dislike for incubating ideas no appetite for chaos preference for judging over generating ideas fear
fear
A college student needed a ride home from college for fall break, so he developed an app for matching up college students with rides. What pathway did he use? searching effectuating designing finding
finding
Every entrepreneur featured in the text ______. could rely on private or family wealth was an extraordinary risk-taker found a way to identify new opportunities founded a for-profit business
found a way to identify new opportunities
For an opportunity to be viable, the idea must ______. generate millions of dollars have lots of social media support have the capacity to generate value be something that has never been tried before
have the capacity to generate value
In rating a new idea, which idea dimensions rank high in novelty? irrelevant improvement innovation invention
innovation invention
Successful entrepreneurs often have prior knowledge with respect to which of the following? market industry goods customers
market industry
What part of the brain do musicians tend to shut off? creative sensory self-censoring expressive
self-censoring
Entrepreneurial thinking involves ______. starting with what you have expected return small actions experimentation
starting with what you have small actions experimentation
Researchers found that jazz pianists could freely express themselves without restriction because they ______. believed they were lucky and were, therefore, successful had parents and other supporters who encouraged them to do so tended to switch off the self-censoring part of the brain had anomalous thought processes from birth
tended to switch off the self-censoring part of the brain
The design pathway uncovers high-value opportunities by focusing on the ______ of customers. response desire unmet needs habit
unmet needs
James L. Adams, a Stanford University professor, identified what main emotional roadblocks preventing creativity? overthinking the process no appetite for chaos inability to distinguish reality from fantasy fear
no appetite for chaos inability to distinguish reality from fantasy fear
Entrepreneurs tend to have more prior knowledge than non-entrepreneurs. True False
True
Your passion can contribute to the entrepreneurial mindset by ______. connecting you to a meaningful venture helping you take unnecessary risk refusing to listen to negative information limiting problems that arise
connecting you to a meaningful venture
The belief that entrepreneurs have in their ability to begin new ventures is known as ______. entrepreneurial spirit deliberate practice entrepreneurial self-efficacy entrepreneurial mindset
entrepreneurial self-efficacy
You can train yourself to recognize entrepreneurial opportunities by identifying changes in ______. markets technology global exchange rates demographics
markets technology demographics
The way to manage the chaos and craziness of a new business is known as entrepreneurship______. method model training process
method
Franklin Yancey's entrepreneurial ______ made it possible for him to start his stadium seat business. spirit drive help mindset
mindset
The pathway of an entrepreneur is ______. planned unknown known premeditated
unknown
For an idea to be viable, it should be ______. useful trendy unusual unique
useful unique
Favorable opportunities are those that are ______. easy valuable costly to imitate rare
valuable costly to imitate rare
Even though several people contributed to the lightbulb design, ______ is credited with the invention. Thomas Edison Eli Lilly John Adams Benjamin Franklin
Thomas Edison
A less risky way to become an entrepreneur is to buy an existing small business. True False
True
_____ strategies involve taking time to think carefully about a problem by breaking it up into parts. Search Analytical Development Interpersonal
Analytical
Why did famous explorer George Leigh Mallory climb Mount Everest? His friends dared him. He was looking for gold. It was the only way to get to the other side. Because it was there.
Because it was there.
______ is the process when you expand concepts to new applications or add innovative twists. Enhance Anticipate Identify Target
Enhance
Arrogance is helpful in starting a new venture. True False
False
During the "discovery" phase of IDEATE, you are merely enhancing the ideas you identified. True False
False
Which of the following are examples of growth mindset? Give me the name of a successful person who never experienced failure. If I don't try, I'll definitely fail. You aren't good at school. How will you ever run a business? Why do you want to start a business? You need accounting skills. Aren't you bad at math?
Give me the name of a successful person who never experienced failure. If I don't try, I'll definitely fail.
Creating opportunities is the effectuating pathway. True False
True
People who consider themselves lucky are more open to recognizing chance opportunities. True False
True
Typically, the first step in the process for an entrepreneur is ______. idea generation passion creativity opportunity recognition
idea generation
Innovation generates more customer appeal than improvement ideas. True False
False
According to research, IDEATE helps students identify opportunities which are more innovative. True False
True
Franklin Yancey had no experience when he started his own business. True False
False
George Leigh Mallory's climb of Mount Everest was undertaken out of necessity rather than opportunity. True False
False
Most inventions come from an isolated inventor. True False
False
Openness is a more important entrepreneurial quality for new businesses than it is for existing ones. True False
False
Our mindset is static. True False
False
Today's scientists have proven that one side of the brain is more dominant than the other. True False
False
The outdated process approach to entrepreneurship suggested that if you ______. follow ten particular steps, your new venture is more likely to succeed have your family members help you, you will succeed follow the methods used by other entrepreneurs, you will succeed understand the pitfalls of starting a new business, you will succeed
follow ten particular steps, your new venture is more likely to succeed
What does Franklin Yancey credit for his success? playing football his college education his supportive family environment his early experiences of risk-taking
his college education his supportive family environment his early experiences of risk-taking
Entrepreneurs tend to have more creativity because they are ______. using trial and error studying creativity in school practicing the creative process more regularly learning from creative specialists
practicing the creative process more regularly
he Self-Efficacy Scale (GSES) was designed by researchers to assess the degree to which we have in our ability to ______. recover from setbacks. cope with adversity give up before it's too late carry out difficult tasks
recover from setbacks. cope with adversity carry out difficult tasks
When considering an entrepreneurial idea, it is important to ______. kill your idea if you have had some setbacks. avoid collaboration because someone might steal your idea listen to your friends rather than be honest with yourself. reflect and be honest with yourself.
reflect and be honest with yourself
The General Self-Efficacy Scale (GSES) is used to measure ______. stress motivation self-efficacy habit
self-efficacy
When entrepreneurs set out what they want to accomplish, they are ______. self-correcting self-rewarding self-goal setting self-observing
self-goal setting
Entrepreneurs use prior knowledge to link seemingly unrelated events and trends. True False
True
Entrepreneurs will use both managerial and entrepreneurial thinking. True False
True
Which of the following is a characteristic of Dr. Saras Sarasvathy's theory of effectuation? It showed that first-time entrepreneurs were just as creative as serial entrepreneurs. It is based on the idea that entrepreneurs can control their future. It shows us that specific thinking patterns do not matter. It looked at entrepreneurs from only one industry.
It is based on the idea that entrepreneurs can control their future.
Entrepreneurs with more signs of improvisational behavior tend to outperform those who did not. True False
True
A method of carrying out carefully focused efforts to improve current performance is ______. habitual practice effectuation deliberate practice entrepreneurship
deliberate practice
Group brainstorming is a good example of a ______ strategy. search relationship seeking habit-breaking development
development
During the "target" process of IDEATE, you are ______. coming up with ideas sizing the market place figuring out where to sell your product discovering how to come up with customers
figuring out where to sell your product
Due to alertness, shoemaker Richard Lindon was able to invent two new products—______. insulated windows and doors rainboots and wind-proof umbrellas seatbelts and headlights rubber-inflated tubes and pumps
rubber-inflated tubes and pumps
People can influence and control their own behavior with ______. behavior strategies entrepreneurial brainstorming breaking bad habits self-leadership
self-leadership
When you stop throughout the day to ask yourself what you have accomplished, you are using ______. self-goal setting self-cueing self-reward self-observation
self-observation
When calculating affordable loss, ______. think about what you are willing to lose let the risk of failure control your decision you cannot calculate the risk take the most risk you possibly can
think about what you are willing to lose
Habit-breaking strategies involve taking the role of an admired individual and thinking about how he or she might perceive the situation. True False
True
Visualizing successfully performing an activity may help us perform the task in reality. True False
True
The process of examining our own behavior in a constructive way in order to reshape the behavior is known as ______. self-observation self-punishment self-goal setting self-reward
self-punishment
When you are starting your new company, you ______. should quit your job right away to pursue your new interest can use your current employer's resources should only work on the weekends as to not interfere with your other job should check your employment contract for any language prohibiting you from working a side job
should check your employment contract for any language prohibiting you from working a side job
What prior knowledge did Allen Lim, founder of Skratch Labs, possess? corporate operations sports science food services educational resources
sports science
People with a ______ mindset tend to persevere rather than giving up. growth natural fixed lucky
Growth
The most common form of value is ______. economic environmental opportunity social
economic
Entrepreneurs who have the ability to effectively confront demands or stressors, and thus improve entrepreneurial performance, tend to have ______. entrepreneurial self-efficacy entrepreneurial mindset self-observation growth mindset
entrepreneurial self-efficacy
What does IDEATE stand for? identify, destroy, execute, apply, text, and exit identify, discovery, enhance, anticipate, target, and evaluate index, discovery, enhance, anticipate, try, and evaluate index, discovery, execute, apply, target, and exit
identify, discovery, enhance, anticipate, target, and evaluate
Creative people tend to have what type of traits? creative authentic polarized confusing
polarized
When Cory Booker, now a U.S. Senator, became a tenants' rights advocate, he had to change his ______ after he viewed the tough New Jersey street outside Brick Towners. occupation mindset city decision about law school
mindset
Jason Craparo decided to replace ______ with an online platform because people were not using them anymore. car manuals business cards telephone books menus
business cards
When you write lists, notes, or motivational posters, you are practicing ______. self-goal setting self-punishment self-observation self-cueing
self-cueing
Why is the iPhone an example of the design pathway? It was a value-creating idea. It required no imagination. It created a new global market of communication. Nothing like it had existed before.
It was a value-creating idea. It created a new global market of communication.
Entrepreneurship is all about ______. imagination innovation openness taking risks
openness
An apparent way of generating value through unique, novel, or desirable products, services, and processes that have not been previously exploited in a particular context is ______. habit lifestyle opportunity passion
opportunity
The "Yes, and" principle is designed to help an entrepreneur have ______. access to successful entrepreneurs the ability to share an idea without being shot down unexpected results (because no one will say no) friends support the new venture
the ability to share an idea without being shot down
What has a 2012 University of Utah study revealed about the left-brained/right-brained model? While personality types are clearly associated with one hemisphere or the other, task implementation is not. There is a sea change in hemisphere dominance as the ways in which we work have changed. The technological age in which we live has allowed us to move from left-brained thinking to right-brained thinking. There is no evidence that one side of the brain was more dominant than the other in any given individual.
There is no evidence that one side of the brain was more dominant than the other in any given individual.
With an entrepreneurial mindset, entrepreneurs are positioned to see new opportunities. True False
True
Using this strategy is a good way to generate ideas for improvement of products or services by breaking the idea into parts. analytical interpersonal imagination-based search
analytical
Studying change and analyzing future scenarios is which step in IDEATE? trust anticipate analyze identify
anticipate
What is an example of a development strategy? group brainstorming working in isolation imagining a better product linking ideas together
group brainstorming
The underlying problem a customer is trying to solve is part of the ______ step in IDEATE. evaluate discovery enhance identify
identify
Entrepreneurs benefit from ______ because it helps them rapidly sense and act as well as change direction quickly. self-cueing habit improvisation creativity
improvisation
The established set of attitudes held by someone is called ______. startup mindset habit entrepreneurship
mindset