Ch. 4 Smartbook

Arrange the following types of innovation in decreasing order of uniqueness. (Place the most unique type of innovation on top.)

1. Breakthrough innovaation. 2. Technological innovation. 3. Ordinary innovation

List the types of innovation in decreasing order of uniqueness

1. Breakthrough innovation 2. Technological innovation 3. Ordinary Innovation

5 Major Stages of the Product Planning and Development Process

1. Idea stage 2. concept stage 3. product development stage 4. test marketing stage 5. commercialization

Arrange the following steps of the forced relationships process in the correct order.

1. Isolate the elements of the problem. 2. Find the relationships between these elements 3. Record the relationships in an orderly form 4. Analyze the resulting relationships to find ideas or patterns 5. Develop new ideas from these patterns

Arrange the following steps of the forced relationships process in the correct order.

1. Isolate the key aspects of an issue. 2. Discover the relationships between the key aspects of an issue. 3. Document the relationships between the key aspects of an issue in a structured form. 4. Evaluate the resulting relationships to locate ideas of patterns. 5. Develop new ideas from analyzed patterns.

The Gordon Method

1. The entrepreneur mentions a general concept related to a problem. 2. A group articulates a number of ideas 3. Through guidance by moderators, a concept is developed, followed by the development of related concepts 4. The real problem is revealed by the entrepreneur

Arrange the steps involved in the Gordon method that is used by an entrepreneur for creative problem solving in the correct order of occurrence. (Place the first step at the top).

1. The entrepreneur mentions a general concept related to a problem. 2.A group articulates a number of ideas. 3. Through guidance by moderators, a concept is developed, followed by the development of related concepts. 4. The real problem is revealed by the entrepreneur.

Problem inventory analysis

A method for obtaining new ideas that uses individuals in a manner analogous to focus groups to generate new product ideas

What are the rules of brainstorming?

Combinations and improvements of ideas are encouraged. A high number of ideas should be generated. Freewheeling is encouraged

Key Facets of Parameter Analysis include

Creative synthesis and parameter identification

What is true about the role of e-commerce in today's businesses?

E-commerce has reduced transaction costs for businesses, as well as increased the customer base for businesses.

What is by far the most crucial criterion of a proposed new product idea?

Estimation of market demand

True or false: The ability to identify or recognize a potential business opportunity is not fundamental to growing a business.

False

True or false: When an entrepreneur seeks to use the checklist method, he or she should ensure that the method is only used to develop completely new ideas.

False

Which of the following are the benefits that a mobile app offers over a traditional website? (Check all that apply.)

It can serve as a constant visual reminder as the icon is present on a customer's mobile screen. It allows the option of taking advantage of the camera and GPS tools native in smartphones to offer enhanced engagement.

Which of the following are true about the role of e-commerce in today's businesses? (Check all that apply.)

It has reduced transaction costs for businesses. It has increased the customer base for businesses.

In the context of methods to generate ideas, which of the following is true about brainwriting?

It is a silent, written creation of ideas by a group of individuals.

Which of the following is true of free association?

It is particularly useful in creating a completely new slant to an issue.

Which of the following is true of problem inventory analysis? Multiple choice question. It should not be used to identify product ideas for further evaluation. Individuals are encouraged to generate new ideas themselves. Results from product inventory analysis always reflect a new business opportunity. It is utilized to test and screen new product ideas.

It is utilized to test and screen new product ideas.

Which of the following is true of technological innovation? Multiple choice question. It materializes more frequently than breakthrough innovation. It is generally at the same level of scientific discovery and advancement as ordinary innovation. It is the rarest type of innovation based on the uniqueness of an idea. It is unlikely to be protected by patents, trade secrets, and copyrights.

It materializes more frequently than breakthrough innovation.

Identify an accurate statement about reverse brainstorming

It normally involves the identification of all of an idea's problems.

Identify an accurate statement about reverse brainstorming. Multiple choice question. It is a method for developing new ideas when individuals are unaware of a problem. It normally involves the identification of all of an idea's problems. Criticism of ideas is not allowed. Reverse brainstorming is not similar to brainstorming.

It normally involves the identification of all of an idea's problems.

Identify the key facets of parameter analysis. (Check all that apply.)

Parameter identification Creative synthesis

What happens in the idea stage of the product development process?

Practical and promising ideas are determined and impractical ones are discarded.

What are the major stages of the product planning and development process? (Check all that apply.)

Product development stage Commercialization Idea stage Concept stage Test marketing stage

Identify the benefits of having a dedicated mobile app for a company. (Check all that apply.)

Streamlined customer experience General visibility

Which of the following is a creative problem-solving technique that begins with group members not being aware of the exact nature of the problem to be solved?

The Gordon method

Fully outsourcing operations

The entrepreneur elects to have one or more firms handle all Front End and Back End Activities and simply provides the firm who manages their site with updated product descriptions and pricing information.

Fully insourcing operations

The entrepreneur is prepared to identify the full range activities on the Front End and Back End and the resources required to manage them.

Which of the following is most likely a step involved in the idea stage of the product planning and development process?

The need for a new idea and its value to an entrepreneur or a firm are determined.

What is the third stage of the product development process?

The product development stage

Identify a characteristic of focus groups. Multiple choice question. They are only used to generate new ideas. They are used to filter ideas and concepts. Moderators focus discussions in a nondirective manner only. Information is provided in an unstructured format.

They are used to filter ideas and concepts.

Identify an attribute of breakthrough innovations.

They often create a base on which future innovations are developed.

Back End Activities

This includes IT infrastructure, analytic tools, payment processing, site search, order tracking, fulfillment, and inventory management.

Front End Activities

This includes everything that a customer actually sees and interacts with including User Experience (UX) and User Interface (UI) activities.

True or false: An entrepreneurial firm's new product or service idea must be supported by and contribute to the firm's sales and profits.

True

True or false: The major types of innovation based on the uniqueness of an idea are breakthrough innovation, technological innovation, and ordinary innovation.

True

An accurate statement about the collective notebook method is that

a list of best ideas is developed considering all the ideas that have been recorded

Checklist method

a new idea is developed through a list of related issues or suggestin

The idea-finding technique that involves an entrepreneur listing the attributes of an item or problem and then looking at each from a variety of viewpoints is referred to as __ __.

attribute listing

In the context of creative problem solving, a brainstorming session should _____.

begin with a problem statement that is neither too broad nor too narrow

The __-__ approach to coming up with a new idea requires that an entrepreneur dream about a problem and its solution.

big-dream approach

The method that stimulates people to be creative by meeting with others and participating in an organized group experience is known as...

brainstorming

The technique that is probably the most well known and widely used both for creative problem solving and in idea generation is _____.

brainstorming

The technique that is probably the most well-known and widely used both for creative problem solving and in idea generation is Blank______. free association brainstorming parameter analysis problem inventory analysis

brainstorming

The rarest type of innovation is the _____ innovation.

breakthrough

In the __________ method, a new idea is developed through a list of related issues or suggestions.

checklist

In the __ __ method, a small notebook that easily fits in a pocket is distributed and new ideas are developed by an individual or a group, with the ideas being regularly recorded.

collective notebook

During the ______ stage of the product development process, a refined idea is analyzed to evaluate consumer acceptance.

concept

The second stage of the product development process is the ______ stage.

concept

An entrepreneur who uses the big-dream approach is most likely to _____.

conceptualize ideas without any constraints

Free association is particularly useful in...

creating a completely new slant to an issue

Products and services that are completely new and fulfill previously unfulfilled functions are most likely to be _____ innovations.

discontinuous

An accurate statement about opportunity recognition is that _____.

entrepreneurial alertness and entrepreneurial networks play a crucial role in opportunity recognition

The process of forcing relationships among some product combinations is referred to as .

forced relationships

Developing an entirely new idea through a chain of word associations is known as _____.

free association

When an entrepreneur establishes evaluation criteria for a new idea, he or she must ensure that the idea _____.

has a few unique selling points when compared to the competition

An entrepreneurial firm should identify promising propositions related to a new product or service and eliminate impractical ones in the ______ stage of the product planning and development process, allowing maximum use of the firm's resources.

idea

The first stage in the product development process is the ______ stage.

idea

Parameter identification

involves analyzing variables in a situation to determine their relative importance

discontinuous innovations

involves the establishment of new consumption patterns and the creation of previously unknown products

An attribute of creativity is that _____.

it can be suppressed by perceptual and cultural elements

An accurate statement about technological innovation is that _____.

it is likely to present advancements in the product/service/market area

A true statement about brainwriting, a method to generate ideas, is that _____.

it provides participants more time to reflect on an idea than in a brainstorming session

Continuous innovations

least disrupting influence on established consumption patterns

Creative problem solving is a

method for obtaining new ideas by focusing on specific parameters

In the context of the new product/service classification system, market extension is most likely to take place in a _____.

new market with improved technology

Creative analysis

one or more solutions are developed by analyzing parameters and the relationships between parameters

The type of innovation that occurs most frequently is _____ innovation.

ordinary

People who are in focus groups are most likely to _____.

participate in open, in-depth discussions

A true statement about attribute listing is that _____.

previously unrelated objects are brought together to form a new combination

__________ __________ __________ is a method for obtaining new ideas and solutions by focusing on problems.

problem inventory analysis

Creative __________ __________ is a way of using your creativity to develop new ideas by focusing on specific parameters.

problem solving

The stage of the product development process in which consumer reaction to an actual service/product is determined is the ______ stage.

product development

The stages that each product goes through from introduction to decline are known as _ _ _.

product life cycle

In order to ensure the best possible results, problem inventory analysis should be used mainly to _____.

recognize product ideas for additional analysis

The type of brainstorming in which criticism is allowed and new ideas are obtained by focusing on the negative is known as .

reverse brainstorming

dynamically continuous innovations

some disrupting influence on established consumption patterns

In the context of the new product/service classification system, remerchandising is most likely to occur in a _____.

strengthened market with no technological change

In the product development process, the final stage before commercialization is the ______ stage.

test marketing

The stage of the product development process that provides actual sales results that indicate a product's popularity among customers is the ______ stage.

test marketing

An innovation is most likely considered to be an ordinary innovation if _____.

the market had a greater impact on the innovation than technology

While establishing criteria for the stages of the product planning and development process, an entrepreneur should ensure that _____.

these criteria are all-inclusive and quantitative enough to screen a product in each stage

E-commerce offers entrepreneurs an opportunity to _____.

utilize the interactive nature of the Internet to help their business grow