1.True or false? According to Everett Rogers, the majority adopters will adopt products after being accepted by the majority.
Group of answer choices
True
False
2.True or false? One of the key requirements for entrepreneurial success is your ability to develop and offer something unique to the marketplace.
Group of answer choices
True
False
3. True or false? Every innovation rises to the level of a unique invention.
Group of answer choices
True
False
4.True or false? The objective of Stanford’s Design School ideation practice is to generate as many ideas as possible and then start to develop some of those ideas.
Group of answer choices
True
False
5.True or false? For the Six Thinking Hats exercise to work best, the Black Hat maintains control and keeps the practice moving quickly.
Group of answer choices
True
False
6.True or false? Most entrepreneurial opportunities come from recognizing a problem and trying to solve it.
Group of answer choices
True
False
7. True or false? Canadian Census data can help aspiring entrepreneurs know if they need to provide products and services to their markets in multiple languages.
Group of answer choices
True
False
8. True or false? Information gained from a SWOT analysis can be used in a PEST analysis.
Group of answer choices
True
False
9.True or false? Demographics include statistical factors of a population, including age, race, and gender.
Group of answer choices
True
False
10. True or false? Changes in business advance the economy, improve our lifestyles, and always add to the existing products and industries in a society.
Group of answer choices
True
False
11. True or false? Implement means to enact the plan and test for success
Group of answer choices
True
False
12. True or false? Petitioner problem solvers work on their own.
Group of answer choices
True
False
13 True or false? Need awareness occurs when the entrepreneur notes similarities between customer needs and actual circumstances.
Group of answer choices
True
False
14. True or false? Design thinking in business can be applied beyond product and graphic design.
Group of answer choices
True
False
15. True or false? In design thinking, inspiration for ideas comes from assessing the actual product or service.
Group of answer choices
True
False
16. The ________ stage of creativity involves investigating a chosen field of interest, opening your mind, and becoming immersed in materials, mindset, and meaning.
Group of answer choices
incubation
insight
preparation
elaboration
17. For entrepreneurs, the simplest method of framing a problem in the form of a question ________.
Group of answer choices
can be misleading
can create consumer pain points
can be too simplistic
can be eye opening
18. Who are the consumers who are often not willing to readily adopt change and are the hardest to convince to try a new invention?
Group of answer choices
laggards
early adopters
innovators
late majority
19. Using the Six Thinking Hats and being able to embody one mode of thinking ________.
Group of answer choices
can limit you from considering other aspects of a problem that may lead you to the wrong solution
limits creativity and is rarely recommended except for the most experienced entrepreneurs
frees you from considering other aspects of a problem that can limit creativity when you are looking for a solution
frees you from considering other aspects of a problem that can enhance creativity when you are looking for a solution
20 . Which of the following is a method that focuses the design and development decisions of a product on the needs of the customer, typically involving an empathy-driven process?
Group of answer choices
invention
innovation
creativity
design thinking
21 . What kind of thinking involves a logical, step-by-step process?
Group of answer choices
creative
brainstorm
linear
lateral
22 .The ideation practice which comes from Stanford’s Design School has the objective to ________.
Group of answer choices
generate the one best idea and start to develop it
generate as many ideas as possible and start to develop some of them
practice designing ideas which other companies will not know about
find the best idea(s) to commercialize
23.Activities such as traveling to new places or working on a favorite hobby would most closely align with the ________ stage of creativity
Group of answer choices
preparation
incubation
elaboration
insight
24. The Six Thinking Hats exercise is not always easy to implement. If members cannot follow the rules, ________.
Group of answer choices
. the process better enhances creativity
the process breaks down
the process works best
the process encourages thinking outside the box
25. Creative thinking is more often________ thinking, free and open thinking in which established patterns of logical thought are purposefully ignored or even challenged.
Group of answer choices
creative
lateral
linear
brainstorm
26.Searching for and finding solutions outside of the organizational structure is known as ________ innovation.
Group of answer choices
high speed
optimistic
open
searching
27. The experience of being an entrepreneur can be fun, exciting, and refreshing, as long as you do which of the following?
Group of answer choices
find compatible partners
keep your creative spirit alive and in constant motion
have adequate funding
hire an experienced attorney to secure your intellectual property
28.What is the purpose of a three circles competitive analysis?
Group of answer choices
to identify gaps in the market that a new venture could fill
to determine the political and economic influences on a venture
to identify strengths internal to the entrepreneur
to take advantage of opportunities to develop the venture
29. Netflix started in 1997 as an online movie rental service. Users could browse the online catalog and order DVDs to be delivered to their homes. Today it is a streaming platform. As the company’s success grew, several chains of storefront video rental businesses went out of business. This phenomenon is known as ________.
Group of answer choices
competition
innovation
creative destruction
takeover
30 . Which type of analysis uses a grid to compare the all the vendors that provide the same product or service in an area?
Group of answer choices
PEST analysis
SWOT analysis
three circles
competitive analysis
31 . Which of the following is an example of a gig economy worker?
Group of answer choices
a woman who researches and writes an article for a magazine
a couple who rents out part of their home to travelers
a man who uses his vehicle to take clients to appointments
a man who uses his vehicle to pick up groceries
32. Which of the following is an example of due diligence performed by an entrepreneur?
Group of answer choices
checking for health and environmental hazards before investing
raising capital and completing merger and acquisition transactions
understanding the process of starting and funding the venture
understanding the terms of the transaction and the contract
33. Uber, Lyft, and DoorDash are examples of which type of economy?
Group of answer choices
entrepreneurial economy
market economy
virtual economy
shared economy
34. During World War II, the U.S. military used plastics in weapons and motor vehicles. Following the war, plastics manufacturers began to produce products that consumers could use in their homes. This is most closely related to which step in Schumpeter’s progression for finding new business opportunities?
Group of answer choices
Use existing technology to produce an old product a new way
Develop a new market for an existing product
Find a new supply of resources to produce the product
Use new technology to produce a new product.
35.An entrepreneur is conducting research in his target market to see if the product they designed delivers different benefits than those of their nearest competitor. They are most likely trying to determine whether their product has a ________.
Group of answer choices
differentiation advantage
comparative advantage
market advantage
competitive advantage
36. If the costs of a venture are too high and the profit is too low, the entrepreneur may need to consider whether the venture is ________.
Group of answer choices
feasible
sustainable
attainable
viable
37. You are performing a SWOT analysis for a new venture. Which of the following is an example of a factor that is internal to the entrepreneur?
Group of answer choices
market shrinkage
technology
competition
professional network
38. An entrepreneur wants to conduct research on a potential business opportunity. Which of the following is an example of a primary source?
Group of answer choices
textbooks
public opinion polls
periodicals
bibliographies
39. In deciding whether to start their business, the founders of Netflix needed to determine if there were enough people interested in renting their DVDs through the Internet to make their investment worth the time and effort. They needed to determine the ________ of the venture.
Group of answer choices
expediency
feasibility
viability
practicality
40. During the ________ step, the entrepreneur walks through the planned execution with the client and tests each part of the solution or thoroughly tests a developed good.
Group of answer choices
implement
ideate
evaluate
develop
41. How is design thinking an “empathy-driven process”?
Group of answer choices
It focuses on the needs of the customer and creating the customer experience.
It focuses on only the physical attributes of the product and packaging.
It focuses on the bottom line and making the most cost-effective product.
The process utilizes design engineers and is not applied to digital interactions.
42.Why does the design thinking process use the term “spaces” instead of phases?
Group of answer choices
because the term space is generally used in the design field
because the focus is on the customer rather than the product
because the spaces can happen simultaneously
because the process is conducted in a typical meeting-type space
43. Which type of problem solver does things differently to solve problems?
Group of answer choices
adapter
petitioner
creator
innovator
44. Which three spaces compose the design thinking process?
Group of answer choices
creativity, inspiration, and storyboarding
creativity, brainstorming, and ideation
implementation, brainstorming, and lean processes
inspiration, ideation, and implementation
45 . Which of the following is the complex analysis of a problem or issue?
Group of answer choices
data analysis
assessment
critical thinking
decisiveness
46. Why should the setting for a brainstorming session be comfortable and informal?
Group of answer choices
The sessions normally last many hours, and you want participants to be comfortable.
The group needs to avoid standard solutions and get the creative juices flowing with little restrictions.
Ideas are rarely generated in a traditional meeting type format.
The entrepreneur is more comfortable leading a session in an informal setting than in a formal setting.
47. Which of the following permits the entrepreneur to plot each step in a process to build comprehension and detailing of the process?
Group of answer choices
storyboarding
implementation
brainstorming
whiteboarding
48 . In lean processes, the external environment ________.
Group of answer choices
should lead to advantages in the internal environment
includes employees and internal practices and procedures
encompasses customers, industry trends, and the competition
is not necessary to consider because it does not directly impact the organization
49. Which of the following is an event that brings together programmers and workers with other degrees of specialization to collaborate on a project over a short period of time?
Group of answer choices
hackathon
mash-up
storyboarding event
brainstorming session
50. Which of the following is a collaborative approach to problem solving usually implemented online?
Group of answer choices
crowdsourcing
ideation
brainstorming
outsourcing
51. Which of the following characterizes a great team?
Group of answer choices
include a limited number of members that are diverse
solve the problem in the least amount of time
have chemistry, and are cohesive and diverse
from the same department and cohesive
52. Discuss some of the requirements for an effective brainstorming session.
53.Brainstorming can be described as a divergent process. Please explain what this means.
54. What are the three criteria that must be met in order for an entrepreneurial idea to be recognized as an entrepreneurial opportunity?
55. What is the difference between primary research and secondary research? Give one pro and one con for each type of research?
56.Think about the last time you upgraded or purchased some item of technology, such as a smartphone, laptop, tablet, etc. What stage would you estimate you were in the Rogers Adoption Curve, and why?
57. Briefly explain Schumpeter’s concept of creative destruction.