1.True or false? According to Everett Rogers, the majority adopters…

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.

 

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