Question 1

Diversity is a key ingredient for creativity in work teams because it can help avoid "cookie cutter" thinking.

Accepted Answer

When team members come from diverse backgrounds and have different perspectives, experiences, and skill sets, they can bring fresh ideas and approaches to problem-solving. This can lead to increased creativity and innovation as team members build on each other's ideas and discover new solutions. In contrast, teams composed of individuals who share identical backgrounds and experiences may be more prone to "groupthink" and rely on familiar solutions rather than exploring new possibilities.

Question 2

Entrepreneurs are typically people with high self-esteem.

Accepted Answer

Research has shown that entrepreneurs tend to have higher self-esteem than non-entrepreneurs. They are confident in their ability to start and run a successful business, and they often have a strong sense of purpose and determination. However, this does not mean that all entrepreneurs have high self-esteem, as individual factors such as personality traits, upbringing, and life experiences can impact a person's self-esteem.

Question 3

A break-even point refers to the maximum salary an entrepreneur can pay himself or herself.

Accepted Answer

A break-even point refers to the level of sales revenue that covers all the business's costs, resulting in no profit or loss. It is not related to the maximum salary an entrepreneur can pay themselves.

Question 4

Innovation is the process of generating new ideas.

Accepted Answer

The answer of Innovation is the process of generating new...

Question 5

Creative thinking is limited to right-brain,divergent modes of thought.

Accepted Answer

This statement is false. Creative thinking can involve both the left and right sides of the brain, and can include convergent thinking as well as divergent thinking. The idea that the left brain is analytical and rational, while the right brain is creative and intuitive, is an oversimplification of brain function.

Question 6

Age has no impact on a person's capacity for creativity.

Accepted Answer

Research has shown that while certain aspects of creativity, like fluency and originality, may decline with age, other aspects, such as problem-solving skills and the richness of ideas, can remain stable or even improve. Age can impact creativity, but it does not universally diminish it.

Question 7

In the United States,a patent lasts for only 20 years.

Accepted Answer

This is true. Under US patent law, a patent lasts for 20 years from the date of filing.

Question 8

The first step to more creativity at work is establishing an environment where it is valued and rewarded.

Accepted Answer

When creativity is valued and rewarded in the workplace, employees are more likely to feel encouraged to come up with new ideas and solutions. This can lead to increased innovation and productivity.

Question 9

More than three-fourths of all private-sector employees work for small businesses.

Accepted Answer

According to the U.S. Small Business Administration, small businesses employ about half of the private-sector workforce, not more than three-fourths.

Question 10

A Skunk Works® is a forum to show failed ideas and analyze why they failed.

Accepted Answer

A Skunk Works® is actually a term coined by Lockheed Martin to refer to a group within an organization that is given a high degree of autonomy to work on advanced or secret projects. It is not specifically a forum to highlight failed ideas, although these can certainly be discussed within a Skunk Works® environment.

Question 11

The very characteristics that make entrepreneurs successful-creativity,risk taking,and action orientation-can cause them to fail because they lose sight of where they are going.

Accepted Answer

Entrepreneurs may become so focused on taking risks and pursuing new ventures that they lose sight of their overall goals and long-term plans, potentially leading to failure.

Question 12

Many organizations respond to substantial change by falling into a crisis management mode.

Accepted Answer

When faced with substantial change, many organizations may experience a sense of urgency and respond by implementing crisis management measures to mitigate the effects of the change.

Question 13

An intrepreneur is an entrepreneur who has founded a nonprofit organization.

Accepted Answer

An intrapreneur is an employee who innovates and generates new ideas within their current organization. An entrepreneur can found for-profit or non-profit organizations.

Question 14

Seventh Generation features only "green" products.

Accepted Answer

Seventh Generation is a brand that is committed to offering environmentally friendly products, often referred to as "green" products.

Question 15

One of the key innovations developed by Netflix was to eliminate "late fees" for video rentals.

Accepted Answer

This is true. Netflix was one of the first companies to eliminate late fees for video rentals, instead offering a monthly subscription model with unlimited rentals and no due dates. This was a groundbreaking innovation in the home entertainment industry.

Question 16

Nonmanagerial workers can be creative only if they are promoted to a more creative job.

Accepted Answer

Nonmanagerial workers can be creative even in their current job roles without necessarily being promoted to a more creative job. Creativity is a mindset and a skill that can be developed and nurtured regardless of job title or position. Organizations can encourage creativity among nonmanagerial workers by providing them with opportunities for training, brainstorming sessions, and the freedom to take risks and experiment with new ideas.

Question 17

Hypercompetition causes product life cycles to increase in length.

Accepted Answer

Hypercompetition actually causes product life cycles to decrease in length as competitors rapidly introduce new and improved products, making previous products obsolete faster than before.

Question 18

An entrepreneur usually maintains full control of a business when it is funded by a venture capitalist.

Accepted Answer

When a business is funded by a venture capitalist, the entrepreneur typically gives up some level of control in exchange for the funding. This may include giving the venture capitalist a say in major business decisions or a seat on the board of directors. However, the exact level of control given up will depend on the terms of the agreement between the entrepreneur and the venture capitalist.

Question 19

In the growth stage,a start-up looks to protect its market share.

Accepted Answer

In the growth stage, a start-up focuses on expanding its market share, increasing its customer base, and scaling its operations, rather than just protecting its market share.

Question 20

Creative people are often good at dealing with ambiguous or paradoxical ideas.

Accepted Answer

Creative people have a flexible mindset that allows them to adapt to different situations and find innovative solutions, even when faced with conflicting or unclear information. They are comfortable with ambiguity and can navigate complex problems with ease.

Quiz 8: Workplace Essentials: Creativity,innovation,and a Spirit of Entrepreneurship