Which is usually a characteristic of a creative person?

Like to seek out new challenges

The primary goal during brainstorming process is to:

Come up with as many ideas as possible

Which is TRUE about entrepreneurial discovery?

Ongoing process that facilitates a business's success rate

Which illustrates how environmental factors are interrelated?

The economy affects what competitors are doing.

Which is true regarding the use of group creative-thinking techniques in idea generation?

Members generate new ideas by altering/building upon others

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Entrepreneurship - Obj. 2.01 - 2.06

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Review of concepts covered in Objectives 2.01 - 2.06 (Entrepreneurial Discovery & Creative Thinking)

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Questions 23

Answers

1
Entrepreneurial discovery process requires knowledge and recognition of a(n):
Preventable Accident
Creative Observation
Market Need
Economic Crisis
2
Which is usually a characteristic of a creative person?
Prefers working under supervision
Depends on others
Is patient with other people
Like to seek out new challenges
3
The primary goal during brainstorming process is to:
Come up with as many ideas as possible
Rate each idea in relation to one another
Come up with a set number of ideas within a certain time
Analyze each idea as it is presented
4
When generating ideas for new businesses, entrepreneurs often look for ways to:
Increase liability
Control outcomes
Rationalize spending
Solve problems
5
When using mind-mapping to generate ideas, you begin by writing down the main problem or?
Market Opportunity
Primary Associations
Situational Analysis
Supporting Facts
6
Which is a global trend that might encourage international business opportunities?
Enforceable trade agreements
Flexible currency rates
Higher allowances
Lower tariffs
7
Entrepreneurial discovery is an important process in a free-enterprise system b/c you can
Change legal requirements
Form a technological monopoly
Improve economic sanctions
Satisfy an unmet demand
8
Which is TRUE about entrepreneurial discovery?
A way to determine long-term profit a start-up can generate
Provides entrepreneurs with professional dev. training
Ongoing process that facilitates a business's success rate
It ensure that start-up businesses have continuous funding
9
People who are naturally creative often are:
Emotionally controlled
Physically active
Highly educated
Mentally flexible
10
Which illustrates how environmental factors are interrelated?
The economy affects what competitors are doing.
The economy affects banking institutions.
Low investor confidence heavily impacts financial planners
New legislation will be written in the future.
11
Which personality traits is often associated with creative people?
Exhibiting low energy levels
Acting independently
Preferring routine activities
Shunning recognition and praise
12
Jessica's hobby is making jewelry and hopes to sell on eBay. This is identifying a product opp?
By personal experiences
By consumer attitudes
By business processes
By demographic changes
13
Identifying new product opportunities usually requires a person to be:
Emotional
Aware
Decisive
Indifferent
14
Which is true about a business's environment?
It is always changing
It may not affect the business, depending on industry
It consists of the economy and technology
It can be avoided
15
Which of the following processes helps aspiring entrepreneurs generate venture ideas?
Decision Making
Financial Planning
Goal Setting
Creative Thinking
16
Which is an example of a demographic trend?
Shifting political climates
The aging of the population
A concern for health and fitness
Rising interest rates
17
Kwan decided to sell Korean goods after noticing an increase in the Korean population. This is?
Advancement in technology
Changes in travel habits
Shifts in population ethnicity
Differences in priorities
18
The primary responsibilities of a facilitator in brainstorming are to compile ideas and ...
Select the best idea
Evaluate the group's creativity
Judge the bad ideas
Keep the group on task
19
Market opportunity is often affected by:
Timing
Location
Rewards
Methodology
20
Which is true regarding the use of group creative-thinking techniques in idea generation?
Six Hat technique is generally most effective technique.
Groups are more effective when using mind-mapping
Brainstorming usually generates the best ideas
Members generate new ideas by altering/building upon others
21
What is an economic factor that a business should consider during an environmental scan?
Consumer Spending Habits
Local Demographics
Restricted Sales Territories
Global Trade Regulations
22
When determining venture-creation opportunities, entrepreneurs must first:
Conduct research
Obtain financing
Identify staffing needs
Select a location
23
Which is an example of a demographic trend that encouraged entrep. discovery?
Industry degregulation
Interest rate flucatations
Technological advancements
Increased cultural diversity

Entrepreneurship - Obj. 2.01 - 2.06 Flashcards | StudBud