Chapter 03 Quiz

Innovation is the process that takes a novel idea and transforms it into a product or service that customers will pay for. a. True b. False

True

One of the most effective ways entrepreneurs have of creating opportunity is to identify a problem in a market and seek a solution. a. True b. False

True

Opportunity is the intersection of an idea and a customer. a. True b. False

True

Research on entrepreneurial opportunity has identified two fundamental theories to explain how opportunities happened: discovery theory and creation theory. a. True b. False

True

Which of the following rules does NOT apply to idea generation? a. If you're in a group, start by generating ideas individually first. b. Piggyback on ideas by taking several ideas and creating new combinations and modifications. c. Initially, go for quantity of ideas over quality of ideas. d. Use team processes that lead to consensus and convergence. e. Capture every idea no matter how outlandish it may seem on the surface.

Use team processes that lead to consensus and convergence.

Which of the following is NOT one of the four stages of the creative process identifies by Wallas? A. illumination B. Incubation C. Association D. Verification E. Preparation

association

Joel is a team manager at Green Enterprises. When solving a problem, he often uses _____, which is a form of brainstorming that makes sure that everyone on the team feels comfortable offering up ideas. a. brainwriting b. brainwiring c. freeforming d. journey mapping e. visualization

brain writing

One major theory of opportunity in which entrepreneurs create opportunities via their actions, reactions, and experiments around new products, services, and business models is known as _____ theory. a. stakeholder b. conflict c. discovery d. structuralist e. creation

creation

In the 1930s, economist Joseph Schumpeter identified all of the following categories of innovation that are still relevant today EXCEPT a. a new product or substantial change in an existing product. b. creative research methods. c. changes in industrial organization. d. a new market. e. a new process.

creative research methods

Historically, _____ innovations have often been patented because achieving mass adoption in the market is a costly process taking many years to accomplish and the inventor wants to protect the time and effort he or she has put into the innovation. a. breakthrough b. inventive c. radical d. disruptive e. incremental

distruptive

Norman Seeff identified four stages in the creative process. a. True b. False

false

Once an entrepreneur has generated a number of ideas for needs or problems, the most effective approach is to narrow down the best ideas by immediately eliminating the "crazy" ideas. True or False?

false

The illumination step in Wallas's creative process involves letting a problem lie in the subconscious for time. True or false?

false

An effective problem statement has _____ components. a. two b. unlimited c. four d. seven e. three

four

The creation of something novel and original whether or not it is commercialized is known as. a. innovation b. discovery - c. visualization d. value creation e. invention

invention

Which of the following is NOT one of the seven stages that individuals or teams go through as they move from the beginnings of an idea to the fulfillment of final outcome? a. Hearing the call b. Turning point c. Fear and resistance d. Journey mapping e. Resolution

journey mapping

The principle of affirmative judgment a. focuses on the negative aspects of a problem first. b. makes a judgment of a problem based on the negative aspects of the problem definition. c. rushes to judgment on the best ideas to solve a problem. d. looks for the strengths or positive aspects of a problem first. e. avoids restating a problem even if the problem has just one positive aspect.

looks for strengths or positive aspects of a problem first

_____ is concerned with the process of extracting value from an idea. a. Innovation b. Problem identification c. Invention d. Brainstorming e. Creativity

not problem identification and not invention

The creative process is difficult to study because it generally deals with a a. person's ability to use his or her skills. b. person's internal thought processes. c. series of external processes. d. number of complex theories. e. way of doing things that no one understands

persons internal thought process

Identifying the right _____ is the most challenging aspect of the problem-solving process. a. time b. problem c. strategy d. team e. solution

problem

Once you have generated a number of ideas for needs or problems, there is a natural tendency to a. discard them all. b. try them all. c. accept the idea that is easiest to implement. d. try the "crazy" ideas. e. rush to judgment on the best ideas.

rush to judgement on the best ideas

For entrepreneurs, the closer the solution relates to the actual problem the customer is experiencing, the more likely that there will be immediate _____ upon completion of product development. a. satisfaction b. resolution c. action d. feedback e. sales

sales

The _____ is the part of the brain responsible for discovery. a. right hemisphere b. frontal lobe c. hypothalamus d. subconscious e. left hemisphere

subconscious

Force fitting involves a. requiring a brainstorming session each day. b. assigning team workers to partners. c. using a predefined method to solve a problem. d. taking a random object and creating a relationship to the problem statement. e. setting a deadline to formulate a solution.

taking a random object and creating a relationship to the problem statement.

All of the following are characteristics of design thinkers EXCEPT a. empathy. b. traditional thinking. c. optimism. d. collaboration. e. experimentation.

traditional thinking

Design thinking can be thought of as groups of related activities that move from inspiration to ideation to implementation.... a. True b. False

true

All of the following are components of an effective problem statement EXCEPT a. an answer to who is responsible for dealing with the problem. b. a component that asks why the problem exists in the first place. c. a "how" question. d. an action verb, which represents the positive course of action anticipated. e. the target or desired outcome.

A component that asks why the problem exists in the first place

_____ is a simple technique that has the entrepreneur breaking down a problem into its various elements and then generating new approaches or modifications for each element. a. Creative destruction b. Attribute identification c. Force fitting d. The decision tree e. Restating the problem

Attribute identification

_____ is the process that moves an innovation from the laboratory to the market by executing on a business strategy. a. Invention b. Commercialization c. Brainwriting d. Brainstorming e. Transformation

Commercialization

_____ sees opportunity arising from shifts in external factors in the market or industry, such as regulation, technological changes, and changes in customer preferences. a. Discovery theory b. Creation theory c. Commercialization d. Design thinking e. Visualization

Discovery Theory

Design thinking is a brainstorming strategy in which the entrepreneur uses brainwriting, visualization, and journey mapping to generate original ideas. a. True b. False

False

The vast majority of innovations today are radical innovations that obsolete previous technology or ways of doing things. a. True b. False

False

Stage _____ of Seeff's creative process represents the implementation of the action plan to turn the idea into reality. a. Four b. Seven c. Six d. Three e. Five

Five

_____ is the process of finding a new way to do something or improving on an existing product or service. a. Discovery b. Innovation c. Invention d. Creation e. Structuralization

Innovation

_____ innovations improve on an existing technological or product base, often to create differentiation in the market. a. Emergent b. Evolutionary c. Incremental d. Disruptive e. Continuous

Not Evolutionary

The principle of _____ includes offering criticism in a positive manner by focusing on how the problem might be restated or refocused. a. affirmative judgment b. attribute identification c. problem statements d. problem definition e. positive reinforcement

Not problem definition