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