Deck 18: Entrepreneurship and Innovation

Question 1

Which of the following is NOT a stage of the innovation adoption curve?

A)Innovators
B)Entrepreneurs
C)Early Adopters
D)Laggards

Answer 1

B

Question 2

According to the text, ________ helps with problem solving and innovation.

A)creativity
B)groupthink
C)stereotyping
D)venture capital

Answer 2

A

Question 3

Which of the following can be a growth accelerant for new ventures, according to the text?

A)Market opportunity
B)Human resources
C)After-sales care
D)All of the above

Answer 3

D

Question 4

An individual that plans, organizes, and leads high-risk business opportunities with new market value is:

A)an entrepreneur.
B)a venture capitalist.
C)a financier.
D)an early adopter.

Question 5

Which can be a challenge to growth in new ventures, according to the text?

A)Financing and liquidity
B)A gap in the market
C)Research and development
D)All of the above

Question 6

Innovation is a process that results in new market value through the creation of:

A)financial capital.
B)human capital.
C)productivity.
D)a product or service.

Question 7

Concepts that create, nurture, and support other concepts:

A)foundational concepts
B)nurturing ideas
C)building concepts
D)meta-ideas

Question 8

An entrepreneurial ___________is a set of stakeholders that are necessary to support the innovation and creation of new market value.

A)coalition
B)ecosystem
C)syndicate
D)unit

Question 9

What percentage of the market's population are laggards, according to the innovation adoption curve?

A)45%
B)34%
C)16%
D)5%

Question 10

When Google sold equity shares to the public for the first time in 2004, it was one of Silicon Valley's most discussed, dissected and debated:

A)scaling process.
B)start-up companies.
C)initial public offerings.
D)aggregation ventures.

Question 11

Some organizations have encouraged which of the following to enhance creativity and innovation among employees?

A)take regular breaks by going for walks
B)lying down on couches placed by the windows
C)playing interactive video games
D)All of the above

Question 12

Companies like Microsoft, Genetech, Google, and Facebook do not operate alone; rather, they work with a wide range of other companies that have also shared in their success.This is an example of which of the following?

A)Aggregation venture
B)Value chain venture
C)Wave venture
D)Transplant venture

Question 13

Funding that supports the starting and growing of high-risk business ventures is known as:

A)starting funds.
B)high-risk investment funds.
C)growth capital.
D)venture capital.

Question 14

In starting her business, entrepreneur Nesha Sanghavi made use of her passion for which of the following?

A)sports
B)fashion
C)investment analysis
D)a & b only
E)b & c only

Question 15

The activities and processes that increase the worth of a product or service are called:

A)worth enhancement
B)value creation
C)product enrichment
D)business expansion

Question 16

Which of the following is NOT one of the conditions for experiencing flow in the workplace, according to the text?

A)Clear goals
B)Immediate feedback
C)Living in the future
D)Altered sense of time

Question 17

A business strategy that seeks to invent a brand new product or service or find a new resource is known as:

A)an aggregation venture
B)a discovery venture
C)a new-existing venture
D)a new-new venture

Question 18

A system change venture is:

A)a business strategy responding to a significant change in political environments, governmental legislation, and regulations.
B)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets.
C)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies.
D)a business strategy defined by offering a new category of consumers a new product or service.

Question 19

A(n) _________ investor is an individual who provides entrepreneurs with funding and mentorship.

A)capital
B)enterprise
C)angel
D)adviser

Question 20

Research suggests that the optimal Q-levels for achieving creativity in a team involves teams that are comprised of:

A)close friends
B)strangers
C)both friends and new collaborators
D)none of the above

Question 21

Apple's successful introduction of new products such as the iPhone and Mac to its existing customer base is an example of a new-existing venture.

Question 22

Scaling is the degree to which a company or its business model can grow, given the necessary resources.

Question 23

In 1975, _________ identified a need for "software that was increasingly easy to use and more powerful" and "a new kind of computer that was affordable, adaptable, and personal."

Question 24

____________ prefer to form their own opinions on whether to choose to adopt a new innovation.

Question 25

A value-chain venture is a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies.

Question 26

Microsoft's culture was the inspiration behind the 2013 movie The Internship.

Question 27

Angel investors are individuals that provide entrepreneurs with funding and mentorship.

Question 28

Conversion rate potential is the measurement of available financial resources or the ability to convert an organization's assets into cash.

Question 29

The Stages of New Ventures is a staged model that describes the evolution of an innovation's acceptance with customers.

Question 30

Attracting the best talent is essential for any company and therefore if possible start-ups should pay top dollar to recruit outside executive managers from larger, more corporate companies, even if they fully "don't get" what the start-up is trying to achieve.

Question 31

___________ are capacities, activities, and strengths that enable individuals to manage successfully in high-risk business environments.

Question 32

A(n) __________ is a set of stakeholders that are necessary to support the innovation and creation of new market value.

Question 33

Venture capital is a proposed method for creating and sustaining market value.

Question 34

An entrepreneurial ecosystem is a set of stakeholders that are necessary to support the innovation and creation of new market value.

Question 35

Effective marketing and branding strategies are key growth accelerants for new ventures.

Question 36

As the business landscape continues to evolve, and new global innovations come into play, there is more emphasis on __________, activities associated with seeking opportunities that generate new value, with an array of unknown forces.

Question 37

Innovators are the approximately 2 percent of a market's population that initially uses and tests a new product or service.

Question 38

The feasibility of a venture is the degree to which it is possible, given the availability of resources and technologies.

Question 39

A Primary Market Offering (PMO) is the first time a company sells its equity shares on the stock market.

Question 40

Worth creation includes the activities and processes that increase the worth of a product or service.

Question 41

Matching

-Discovery venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 42

Matching

-Transplant venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 43

Choose and explain three of the new venture strategies described in the text.

Question 44

The eight conditions for flow in the workplace include______ and ________.

Question 45

The degree to which a business venture is possible, given the availability of resources and technologies is known as the __________ of the venture.

Question 46

A __________ venture strategy carries more risks, as its success depends on attracting a new segment of the market with a brand new product.

Question 47

Matching

-New-new venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 48

Matching

-Value chain venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 49

Matching

-Wave venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 50

Matching

-New-existing venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 51

As a concept of Positive Psychology, Mihaly Csikszentmihalyi introduced the idea of _________, which is the experience of immersion and loss of time when an individual achieves an optimum balance of challenge, interest, and achievement.

Question 52

A ____________ is a measurement that determines the optimum level of group size and interaction to achieve successful creative output.

Question 53

List and describe the stages of the innovation adoption curve.

Question 54

Matching

-System-change venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 55

Matching

-Aggregation venture

A)a business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies
B)a business strategy that seeks to invent a brand new product or service or find a new resource
C)a business strategy defined by offering a new product or service to an existing category of consumers
D)a business strategy defined by offering a new category of consumers a new product or service
E)a business strategy responding to a significant change in political environments, governmental legislation, and regulations
F)a business strategy where an idea that achieves market success in one market region is transferred to other geographic markets
G)business strategy that seeks to redesign or augment an offering in an existing business or management process, such as outsourcing of information technology and research
H)a business strategy defined by a systemic change in business and market environments

Question 56

_________________ is the degree to which a company or its business model can grow, given the necessary resources.

Question 57

A(n) ____________ can be a great way of raising capital, generating publicity, and attracting attention to a company's products.

Question 58

A ____________ mind is more likely to produce new ideas and find innovative ways to resolve problems.

Question 59

No start-up will survive without the appropriate financing and _______, which is the measurement of available financial resources or the ability to convert an organization's assets into cash.

Question 60

List and describe three of the eight conditions for flow in the workplace