Deck 5: Opportunity Identification and the Creative Pursuit of Innovative

Question 1

Right brain processes involve which of the following?

A)Non-verbal and synthesising thinking
B)Seeing analogies and non-rational thought
C)Spatial,intuitive and imaginative thinking
D)All of these choices

Answer 1

D

Question 2

How can entrepreneurs take advantage of change?

A)downcycling and upcycling
B)downsizing and upsizing
C)continual cycling
D)None of these choices

Answer 2

A

Question 3

Which five phases does Csikszentmihalyi identify in his opportunity recognition process?

A)Preparation,incubation,insight,evaluation and elaboration
B)Procrastination,observation,insight,creativity and evaluation
C)Preparation,observation,incubation,insight,and elaboration
D)Preparation,copying,patenting,insight and evaluation

Answer 3

A

Question 4

In the text,muddling mindsets are listed as which of the following?

A)Either/or thinking,security hunting,stereotyping and probability thinking
B)Secure thinking,typical or possible thinking
C)Stereotypical thinking
D)None of these choices

Question 5

Which of the following stages are used to drive into personal creativity and opportunity recognition?

A)Build,measure and learn
B)Learn,create and sell
C)Measure,adapt and learn
D)Buy,grow and sell

Question 6

An opportunity is defined as:

A)the recognition of a business opportunity
B)the opportunity to make money
C)the recognition of many business opportunities ideas
D)the recognition of a viable business opportunity within a variety of good ideas

Question 7

Which of the following are biases,fallacies and pitfalls that affect our ability to recognise whether or not an opportunity is viable?

A)confirmation bias,optimism bias and highlight bias
B)planning fallacy,sunk cost fallacy,managerial short sightedness pitfall,and financial understanding pitfall
C)uniqueness pitfall,legal/regulatory pitfall,and lack of industry knowledge pitfall
D)All of these choices

Question 8

How do entrepreneurs see opportunities?

A)Entrepreneurs blend imagination and creative thinking with a systematic and logical process ability
B)Entrepreneurs have a natural talent,we do not know why or how
C)Entrepreneurs blend divergent and convergent thinking with logical process ability
D)All of these choices

Question 9

Opportunity identification is the recognition of:

A)a viable business opportunity within a variety of good ideas
B)a special business opportunity within a variety of good ideas
C)a very good idea
D)any business opportunity within a variety of good ideas

Question 10

Select the three most appropriate opportunity theories entrepreneurs use.

A)Effectuation theory,bricolage theory and eureka moment
B)Efficiency,effectiveness and productivity theories
C)Marketisation,gaps in the market and globalisation
D)Profit,social and public theories

Question 11

What is a value proposition?

A)your project's key value-creating features
B)telling staff what your project's key values are
C)telling all stakeholders what your project's features are
D)your project's features

Question 12

What is creativity?

A)The generation of ideas that results in improved efficiency and effectiveness of a system
B)The copying of ideas
C)Listening to other people's ideas and adapting them
D)Putting one's own ideas into practise

Question 13

What is an entrepreneurial opportunity?

A)recognising and validating the potential of a product and/or service that solves a real-world pain,or adds value for a customer
B)adding to the pain of the customer
C)recognising and validating the potential of a customer pain to provide a service to the entrepreneur
D)None of these choices

Question 14

To develop your creativity,you can use which of the following processes?

A)Lateral thinking and recognising relationships
B)Thinking outside the box
C)Lateral thinking using dual brains and clarity
D)All of these choices