Module 5

One of the ways of anticipating change is by surveying industry. This may be accomplished by asking "Are there changing trade alliances and policies?" "What are there emerging best practices?" "Are there changing preferences in existing markets?" "Are there changing laws or regulations?"

"What are there emerging best practices?"

What type of startup capital is characterized by knowledge, routines, and inventions embodied in new venture processes and practices? Human Social Natural Intellectual

Intellectual

When you determine that your solution can be offered to others at a profit, you have demonstrated that your proposal has problem-solution fit. product-market fit. business model fit personal fit.

business model fit

Judging whether your new venture idea can deliver its value proposition at a profit is often described as an assessment of business model fit. product-market fit. problem-solution fit. entrepreneur-opportunity fit.

business model fit.

Which of the following is not one of the popular innovation or entrepreneurship methods based on evolutionary cycles wherein novel ideas are introduced to stakeholders in hopes of changing a particular domain of practice? Lean startup Design thinking Business plan development Agile design

business plan development

The illustrative example Dr. Ford used to illustrate how novel solutions change the world was e-sports. augmented reality. frozen foods. cell phones.

cell phones

The UCF startup success story that Dr. Ford shared as an illustrative example of divergent thinking was based on finding alternative uses for obsolete computers. chickpeas. recyclable water bottles. used vegetable oil.

chickpeas

What are judgment processes used to determine the fitness or quality of novel ideas called? Divergent thinking Convergent thinking Wishful thinking Inspired thinking

convergent thinking

In Matt Ridley's TED Talk, "When ideas have sex," he explains how human progress has resulted from exchange and collaboration. Ultimately, Ridley argues creativity arises from collective effort rather than individual genius. the best ideas come from highly productive people. innovation results from the fusion of opposing cultures. sex sells.

creativity arises from collective effort rather than individual genius.

To frame problems and suggest solutions, analogical reasoning compares current ideas with future precedents. historical precedents. strategic planning. case laws.

historical precedents

Which of the following is not one of the three essential aspects fundamental to design thinking? Experimentation Intelligence Empathy Ideation

intelligence

Problem framing should _________ with alternative generation. combine associate interact disconnect

interact

The primary value proposition offered by Impossible Burger (made without meat) is newness. customization. cost reduction. brand.

newness.

Creative ideas can change the world by instigating evolutionary change processes that link customers, markets, and products. novel alternatives, users/buyers, and current practices. novel alternatives, prototypes, & products. problems, customers, and current alternatives.

novel alternatives, users/buyers, and current practices.

If you intend to help customers by making a service faster and more efficient than alternative offerings, you would create value by offering a relative advantage with respect to brand. performance. customization. newness.

performance.

The first step in developing a value proposition is creative design. problem definition. solution validation. venture startup.

problem definition.

Addressing the judgment of whether you solve a problem or not is most closely associated with financial risk. product risk. customer risk. market risk.

product risk.

Which of the following business models pioneered connecting the dots between people with surplus resources and people in need of resources (i.e., the "sharing economy")? GrubHub TikTok Home Depot Air Bnb

Air Bnb

__________ uses comparisons to precedents (other companies, offerings, objects, processes, etc.) to frame problems and suggest solutions. Analogical reasoning Divergent thinking Convergent thinking Problem framing

Analogical reasoning

Which of the following is not one of the questions you should ask to determine if the value you offer to customers and stakeholders is essential? Does your solution address a new or unsatisfied job? Can your new venture earn a profit? Does your solution solve a customer's most extreme unsolved pain? Are you better than doing nothing and better than using an alternative?

Can your new venture earn a profit?

Sara and Carter met with coworkers to develop new service initiative ideas. They began the meeting by brainstorming ways they could improve their current customers' experiences. Carter left the room for 15 minutes to brainstorm alone while Sara brainstormed with about ten other coworkers. Based on prior research on brainstorming effectiveness, who is likely to generate the most ideas in this example? Carter, because he is avoiding group process losses They are likely to propose the same number of ideas Prior research is inconclusive Sara, because she has access to more diverse expertise

Carter, because he is avoiding group process losses

Which of the following analogies inspired Ford (the company, not your professor) to develop their assembly line process that dramatically reduce costs and enabling many more people to adopt automobiles? Oil refineries Local supermarkets Cattle slaughterhouses Bicycle manufacturers

Cattle Slaughterhouses

In Matt Ridley's TED Talk, "When ideas have sex," what processes does he propose as essential to improving wealth and living conditions? Comparative advantage and specialization Rising inflation and new industry creation Bootstrapping and economic spillover Competition and market fluctuations

Comparative advantage and specialization

What type of startup capital is characterized by instruments used to exchange for resources, such as debt, equity, and cash? Human Financial Natural Social

Financial

The reading "What's better than brainstorming" suggested overcoming common group process losses associated with brainstorming meetings by Having meeting participants brainstorm ideas individually before the meeting Inviting seven or more people to brainstorming meetings Doubling the amount of time allocated to brainstorming meetings Replacing brainstorming with root-cause analysis as a primary meeting tool

Having meeting participants brainstorm ideas individually before the meeting

Which of the following is not one of the creative thinking processes that you can apply to create value for others? Analogical reasoning Divergent thinking Heuristic thinking Associative thinking

Heuristic thinking

Low fidelity prototypes like napkin sketches, canvases, and mockups are an effective means of "inviting others to play", thereby getting them involved in evaluating and co-creating novel proposals. Letting others join you in imagining encourages them to enroll. With respect to engaging investors in this manner, which of the following bits of advice reinforces this point? If you want me to join, make me an offer If you need my help, just ask for it If you want my money, ask for my advice If you want my advice, ask for my money

If you want my money, ask for my advice

Which of the following is not one of the primary ways that low fidelity prototypes promote creativity? Engaging stakeholders (gatekeepers) as co-creators Requiring early consideration of constraints Provoking imagination Increasing the number of convergent thinking processes employed

Increasing the number of convergent thinking processes employed

According to Tim Brown from IDEO, the world's leading design firm, what does design thinking begin with? Integrative thinking Creative thinking An idea A plan

Integrative thinking

What does Tim Brown from IDEO, the world's leading design firm, why is design thinking an appropriate response to change? It creates new career options for product designers It is based on engaging elite expertise to address a problem It offers new ways of tackling problems It emphasizes critical thinking more than other creativity methods

It offers new ways of tackling problems

Which of the following is not one of the "official rules" of brainstorming? Be visual Encourage wild ideas Judge ideas as you go Go for quantity

Judge ideas as you go

Which of the following TV characters did Dr. Ford suggest was a good example of a someone using associative creative thinking processes? Bob the Builder Bill Nye the Science Guy Magnum PI MacGyver

MacGyver

Which of the following are most valuable for promoting the evolution of novel ideas until they are valuable to stakeholders? Stories Pictures Prototypes Descriptions

Prototypes

When Dr. Ford described different approaches to acquiring resources, he described how you can "break" things to get what you need. Which of the following best describes this approach to resource acquisition? Inventory your resources and break them up into chunks Take resources from one use and apply them to another Break open your savings and purchase what you need Break one resource in half to make two resources

Take resources from one use and apply them to another

This class presents you with "learning modules." How do we use modular architecture in the way this course in designed? We try to be a little less boring than other classes with online components We present a comprehensive description of creativity processes and methods We record small components that can be organized and navigated in many different ways practicing professionals We allow students to practice lessons as many times as they need to in order to master the material

We record small components that can be organized and navigated in many different ways

Which of the following questions is most likely to promote divergent thinking processes? What is the best comparison for our product? What are three trends that might make our solution more valuable in the future? What are the possible uses for a blanket? Which is the best solution for us to pursue?

What are the possible uses for a blanket?

Divergent thinking is provoked by considering ideas that address critical tensions between two opposing ideas. customer priorities. a single stimulus question. highly important problems.

a single stimulus question

Marshall wants to offer a cleaning service that alleviates his customers' hassles. He is attempting to: meet or exceed customer expectations bundle features to create essential benefits alleviate customer pains alert her customers

alleviate customer pains

The purpose of a minimum viable product (MVP) is to accelerate revenue. problem solving. buy-in. customer learning.

customer learning.

Addressing the judgment of whether people are willing to pay for your solution is most closely associated with product risk. financial risk. market risk. customer risk.

customer risk

Spencer was excited when he was able to manufacture a graphene coffee cup that could keep coffee hot 20% longer than ceramic cups. He was disappointed, however, when he was unable to find people willing to pay $40 for is a new cup. Which of the following risk related judgments is Spencer facing in this example? financial risk. market risk. product risk. customer risk.

customer risk

Modularity and modular architectures serve as a platform for creating relative advantage with respect to brand. newness. customization. performance.

customization

Creative and entrepreneurial journeys provide many opportunities to engage in self-doubt and despair. investor meetups. divergent and convergent creative thinking processes. critical and methodical thinking processes.

divergent and convergent creative thinking processes.

A process of developing multiple ideas that depart from a single stimulus question is called divergent thinking. analogical reasoning. convergent thinking. problem framing.

divergent thinking

Borrowing in order to acquire resources you need to develop your creative ideas involves exchanging something you have now for something you will need soon. taking someone else's idea and "borrowing" it to start a new venture. using what you have on hand. exchanging something you'll have in the future for something you need now.

exchanging something you'll have in the future for something you need now.

The goal in divergent thinking is to maximize the number of critical questions asked. ideas produced. analogies considered. ideas connected.

ideas produced

Group "process losses" decrease brainstorming group effectiveness because leader dominance and self-censorship limits emergent leadership. collaboration. groupthink. individual expression.

individual expression.

Addressing the judgment of whether you can offer your solution at a profit is most closely associated with financial risk. customer risk. market risk. product risk.

market risk

With respect to provoking change with novel ideas, you are most likely to get others interested in enrolling with your proposals when they are not novel at all. highly novel. moderately novel. slightly novel.

moderately novel

Novel ideas result from new combinations among existing ideas. inspiration that forms new thoughts. divine intervention that gives birth to original ideas. dreams and incubation.

new combinations among existing ideas

David Nash, the recent UCF PhD graduate, creatively combined knowledge related to spectrometry, smart phones, and police procedures to create an innovation that allows police to: reduce response time for police calls. turn on audio recordings on their phones using voice commands. quickly and accurately identify controlled substances in field settings. scan people for weapons without having to touch their bodies.

quickly and accurately identify controlled substances in field settings

Considering an analogy between an animal and a car would best be described as a(n) continuous analogy. remote analogy. organic analogy. similar analogy.

remote analogy

According to the design thinking explainer video, which of the following is not part of the design thinking process? Prototyping Researching Testing Ideating

researching

Alternative generation should be __________ judgment. combined with separated from conducted after intertwined with

separated from

Results of associative processes can vary from sustaining to disruptive. disconnected to connected. unusual to radical. stereotypical to novel.

stereotypical to novel.

Building in order to acquire resources you need to develop your creative ideas involves exchanging something you'll have in the future for something you need now. using what you have on hand. taking someone else's idea and "borrowing" it to start a new venture. exchanging something you have now for something you will need soon.

using what you have on hand.

A popular entrepreneurship method used to assess whether creative solutions actually address customer problems is called the opportunity template. value proposition canvas. creative solution canvas. problem-solution canvas.

value proposition canvas

A design thinking tool that applies to all phases of the design thinking process - from "what is?" to "what if?" to "what wows?" to "what works?" - is rapid prototyping. visualization. brainstorming. journey mapping.

visualization

An MVP is a prototype that demonstrates an offerings value with the interests of investors in mind. with a comprehensive presentation of features and benefits. with the least amount of resources and risk. with clear evidence of product-market fit.

with the least amount of resources and risk.

Which of the following is not an example of a divergent thinking process? Divergent thinking Analogical reasoning Critical thinking Associative thinking

Critical thinking

What is the most important rule of brainstorming? Build on the ideas of others Be visual Go for quantity over quality Defer judgment

Defer judgment

Which of the following is most characteristic of "creaction" (from the Just Start book description) and design thinking processes associated with creaction/creation? Presenting ideas with PowerPoint and spreadsheets Employing people with deep, but narrow expertise Emphasizing historical market analysis Describing ideas using pictures and prototypes

Describing ideas using pictures and prototypes

What are the three processes that contribute to novel associations? Routine, stereotypes, and existing knowledge Serendipity, luck, and similarity Serendipity, similarity, and shared links Luck, existing ideas, and creativity

Serendipity, similarity, and shared links

What type of startup capital is characterized by trust-based relationships that promote exchange, goodwill, and brand equity? Intellectual Human Natural Social

Social

When IDEO designers were tasked with building a better cubicle, what was the first thing they did? They generated ideas with brainstorming They experimented by creating and demonstrating prototypes They gained empathy by observing and experiencing cubicle environments They split up into small groups and engaged in ideation

They gained empathy by observing and experiencing cubicle environments