A diagram to visually organize concepts and ideas

Which of the following characterizes a successful entrepreneur?

High levels of both management skills and creativity and innovation.

What is the link between innovation and entrepreneurship?

Entrepreneurs use innovation to gain strategic advantage in markets

Idea generation relates to one of the following

The process involved in finding new things that work for a specific task

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Week 7 - innovation & creativity

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Questions 10

Answers

1
Which of the following is NOT used to evaluate idea based on the idea efficacy model?
Customer value of ideas
Social value of ideas
Competitor value of ideas
Technical value of ideas
2
The second stage in the innovation lifecycle is called?
Solution phase
Idea phase
Concept phase
Market phase
3
What is a mind map?
A detailed business plan presented in diagrammatic form
A diagram used by entrepreneurs to map the brain and its functions
A diagram to visually organize concepts and ideas
A diagram for analyzing strengths, weaknesses, opportunities, and threats
4
Which of the following characterizes a successful entrepreneur?
High levels of creativity and innovation, but low management skills
Low levels of creativity and innovation, and high management skills.
High levels of both management skills and creativity and innovation.
Low levels of both management skills and creativity and innovation.
5
Which of the following will likely help reduce customer uncertainty concerns during product launch?
Highlighting product benefits over substitutes
Educating customers through demonstrations and documentation
Offering samples and free trials
All of the above
6
What is the link between innovation and entrepreneurship?
The link is too complex to highlight
Entrepreneurs use innovation to gain strategic advantage in markets
All of the above
Both innovation and entrepreneurship refer to the launch of a new business
7
Which of the following is NOT an element of the business model canvas?
Channels
Resources
Marketing
Activities
8
Idea generation relates to one of the following
The process of doing old things excellently
The process involved in finding new things that work for a specific task
The process of finding new customers and suppliers
The procedure in which a customer takes in order to find out what they like
9
What is an example of Entrepreneurship?
Buying a new machinery
Creating a Business.
Giving up an Opportunity to Create a Business.
Giving out free loans to friends.
10
Idea generation by two or more people thinking as freely as possible is commonly known as:
Brainstorming
Two words technique
Value-focused thinking
What-if analysis

Week 7 - innovation & creativity Flashcards | StudBud