Question 1

Describe the three processes that entrepreneurs go through before they are able to identify an opportunity for a new business venture (those that connect idea generation to opportunity recognition).What is the most crucial aspect of each step if you want to maximize the process?

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Question 2

Define pattern recognition and describe how you would apply this to opportunities generated for your entrepreneurship.

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Question 3

You are an entrepreneur.Describe how you would use the finding approach to create opportunities.Be specific.

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Question 4

List the seven main strategies for idea generation and give an example of each.

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Question 5

You are an entrepreneur.Describe how you would use the effectuating approach to create opportunities.Be specific.

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Question 6

Describe habit-breaking strategies for idea generation and how you would use this type of strategy as a technique for your employer or business venture.

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Question 7

Discuss the strategies of prior knowledge and pattern recognition.How would you use these strategies in your own entrepreneurial endeavors?

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Question 8

Identify a newly launched product (you can use new television commercials as your source)and evaluate whether it involves innovation,invention,or improvement of a product.

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Question 9

Compare economic value,social value,and environmental value.As an entrepreneur,explain which of these forms of value will be most important when you are identifying opportunities and why you made that decision.

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Question 10

Define alertness and describe how you would apply this to opportunities in your entrepreneurship.

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Quiz 3: Creating and Recognizing New Opportunities