Question 1

Which popular innovation strategy can be just as effective and much more likely in the real world,than business opportunities that result from radical innovations?

Accepted Answer

A)  Magnifying
B)  Adapting
C)  Eliminating
D)  RearrangingE) A) and D)
F) B) and C)

Question 2

What are some of the ways for making companies "idea-prone"?

Accepted Answer

You can attract more creative employees ...

Question 3

Using paradox to challenge old ways of thinking such as using stimulants to calm hyperactive children refers to which of the following cues?

Accepted Answer

A)  Minimize
B)  Substitute
C)  Reverse
D)  RearrangeE) None of the above
F) B) and C)

Question 4

Alex Osborne,a pioneer in the field of creativity,coined the word brainstorming.

Accepted Answer

A) True 
 B)False

Question 5

When a bookstore starts to sell videos,music,and coffee as well,they are using which element of SCAMPER?

Accepted Answer

A)  Rearrange
B)  Eliminate
C)  Combine
D)  SubstituteE) C) and D)
F) B) and C)

Question 6

This model has the entrepreneur assess whether the situation faced is one that is the same as it has been traditionally or if it is changing.

Accepted Answer

A)  Business process modeling
B)  Opportunity identification process
C)  Pilot test
D)  Radical innovation strategyE) B) and D)
F) None of the above

Question 7

In entrepreneurship,every good idea is a viable business opportunity.

Accepted Answer

A) True 
 B)False

Question 8

The measure of the number of visitors to your Web site who have actually made a purchase from you is known as

Accepted Answer

A)  eyeball rate.
B)  frame rate.
C)  conversion rate.
D)  pilot testing.E) B) and D)
F) None of the above

Question 9

In a typical I 2 P analysis,this is a nontechnical description of the concept simple enough for everyone to understand it.

Accepted Answer

A)  What is the market and its size?
B)  What is your product or idea?
C)  Why will customers buy your product?
D)  Who are the people behind the idea?E) All of the above
F) A) and D)

Question 10

Research suggests that the first good idea entrepreneurs come up with is always the best.

Accepted Answer

A) True 
 B)False

Question 11

"C" in the creativity tool SCAMPER stands for copy.

Accepted Answer

A) True 
 B)False

Question 12

A feature that allows your customers to order directly from a Web site rather than visiting your store is an example of

Accepted Answer

A)  elimination.
B)  adaptation.
C)  magnification.
D)  substitution.E) A) and B)
F) A) and C)

Question 13

A special set of observational and thinking skills that help entrepreneurs identify good opportunities refers to

Accepted Answer

A)  innovation.
B)  opportunity recognition.
C)  technology transfer.
D)  entrepreneurial alertness.E) A) and B)
F) A) and D)

Question 14

One of the pitfalls small business owners can fall into is to fail to build a company culture that encourages new ideas and embraces change.

Accepted Answer

A) True 
 B)False

Question 15

The microchip industry was born when someone asked the question,"What if we shrunk them?" This refers to which of the following cues?

Accepted Answer

A)  Rearrange
B)  Minimize
C)  Put to other uses
D)  AdaptE) A) and C)
F) B) and C)

Question 16

"What if people didn't have to leave their houses to go grocery shopping?" refers to which cue?

Accepted Answer

A)  Minimize
B)  Reverse
C)  Eliminate
D)  SubstituteE) None of the above
F) A) and C)

Question 17

"S" in the creativity tool SCAMPER stands for

Accepted Answer

A)  strategize.
B)  substitute.
C)  submit.
D)  solicit.E) B) and D)
F) A) and C)

Question 18

Which of the following is an idea trigger for the "substitute" cue in SCAMPER?

Accepted Answer

A)  What opportunities can you think of that come as a result of replacing something that already exists?
B)  What separate products,services,or whole businesses can you put together to create another distinct business?
C)  What could you adapt from other industries or fields to your business?
D)  What could I make more noticeable or dramatic,or different in some way from my competitors?E) All of the above
F) B) and C)

Question 19

The product/service component of the feasibility study should include which of the following aspects?

Accepted Answer

A)  Stage of development
B)  Competition
C)  Market penetration
D)  Cost forecastE) C) and D)
F) B) and C)

Question 20

A typical I 2 P analysis consists of a one-page response to eight questions-four about the product,three about the process,and one about the people.

Accepted Answer

A) True 
 B)False

Exam 4: Small Business Ideas: Creativity, opportunity, and Feasibility

Research suggests that the first good idea entrepreneurs come up with is always the best.

Correct AnswerverifiedShow Answer

When a bookstore starts to sell videos,music,and coffee as well,they are using which element of SCAMPER?

Correct AnswerverifiedShow Answer

A feature that allows your customers to order directly from a Web site rather than visiting your store is an example of

Correct AnswerverifiedShow Answer

One of the pitfalls small business owners can fall into is to fail to build a company culture that encourages new ideas and embraces change.

Correct AnswerverifiedShow Answer

A typical I 2 P analysis consists of a one-page response to eight questions-four about the product,three about the process,and one about the people.

Correct AnswerverifiedShow Answer

A special set of observational and thinking skills that help entrepreneurs identify good opportunities refers to

Correct AnswerverifiedShow Answer

"C" in the creativity tool SCAMPER stands for copy.

Correct AnswerverifiedShow Answer

The product/service component of the feasibility study should include which of the following aspects?

Correct AnswerverifiedShow Answer

"S" in the creativity tool SCAMPER stands for

Correct AnswerverifiedShow Answer

"What if people didn't have to leave their houses to go grocery shopping?" refers to which cue?

Correct AnswerverifiedShow Answer

Which of the following is an idea trigger for the "substitute" cue in SCAMPER?

Correct AnswerverifiedShow Answer

The microchip industry was born when someone asked the question,"What if we shrunk them?" This refers to which of the following cues?

Correct AnswerverifiedShow Answer

Using paradox to challenge old ways of thinking such as using stimulants to calm hyperactive children refers to which of the following cues?

Correct AnswerverifiedShow Answer

In entrepreneurship,every good idea is a viable business opportunity.

Correct AnswerverifiedShow Answer

This model has the entrepreneur assess whether the situation faced is one that is the same as it has been traditionally or if it is changing.

Correct AnswerverifiedShow Answer

Which popular innovation strategy can be just as effective and much more likely in the real world,than business opportunities that result from radical innovations?

Correct AnswerverifiedShow Answer

The measure of the number of visitors to your Web site who have actually made a purchase from you is known as

Correct AnswerverifiedShow Answer

In a typical I 2 P analysis,this is a nontechnical description of the concept simple enough for everyone to understand it.

Correct AnswerverifiedShow Answer

What are some of the ways for making companies "idea-prone"?

Correct AnswerverifiedYou can attract more creative employees ...View AnswerShow Answer

Alex Osborne,a pioneer in the field of creativity,coined the word brainstorming.

Correct AnswerverifiedShow Answer

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You can attract more creative employees ...
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