Deck 3: Inside the Entrepreneurial Mind: From Ideas to Reality

Question 1

The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called ________.

A) entrepreneurship
B) innovation
C) creativity
D) creative thinking

Answer 1

C

Question 2

What is the entrepreneurial "secret" for creating value in the marketplace?

Answer 2

Creativity and innovation should be used in combination to allow the entrepreneur to solve real-world problems and to exploit opportunities and the profits that come with them. Creativity should always be directed and complement the business plan. Creativity is the ability to develop new ideas and to discover new ways of looking at problems and to exploit opportunities that people face every day. Innovation is the ability to apply creative solutions to those problems and opportunities to enhance and enrich people's lives.

Question 3

Innovation must be a constant process because most ideas do not work and most innovations fail.

Answer 3

True

Question 4

Creativity and innovation are the signature of small, entrepreneurial businesses.

Question 5

For every 5,000 to 10,000 new drug discoveries, only about five make it to clinical trials and only one typically gets to the market.

Question 6

Creativity and innovation are the signature of large, entrepreneurial businesses.

Question 7

________ is necessary for building a competitive advantage and for business survival.

A) One single idea
B) A motivated owner
C) Creativity
D) A low-priced product

Question 8

Entrepreneurship is a constant process that relies on ________.

A) creativity, innovation, and profit
B) the ability to win over the consumer
C) creativity, innovation, and application in the marketplace
D) intellectual property rights

Question 9

Research shows that anyone can learn to be creative. The problem is ________.

A) many organizations fail to foster an environment that encourages creativity
B) most people never tap into their pools of innate creativity
C) most people have never been taught to be creative
D) All of the above

Question 10

Although creativity sometimes involves generating something from nothing, it more likely results in elaborating on the present, putting old things together in new ways, or taking something away to create something simpler or better.

Question 11

Creativity often involves creating something from nothing. However, it is more likely to result in ________.

A) elaborating on the present
B) putting old things together in new ways
C) taking something away to create something simpler or better
D) All of the above

Question 12

Creativity is the ability to develop new ideas and to discover new ways of looking at problems and opportunities.

Question 13

Creativity is the ability to apply creative solutions to problems and opportunities to enhance or enrich people's lives.

Question 14

Harvard's Ted Levitt says that creativity is ________ new things, and innovation is ________ new things.

A) thinking; doing
B) doing; thinking
C) seeing; doing
D) thinking; applying

Question 15

The ability to apply creative solutions to problems and opportunities to enhance or to enrich people's lives is called ________.

A) entrepreneurship
B) innovation
C) creativity
D) creative thinking

Question 16

Successful entrepreneurs come up with ideas and then find ways to make them work to solve a problem or fill a need.

Question 17

Innovation is the ability to develop new ideas and to discover new ways of looking at problems and opportunities.

Question 18

An entrepreneurial "secret" for creating value in the marketplace is ________.

A) applying creativity and innovation to solve problems
B) creating new products and services
C) learning by doing
D) applying lessons learned from history

Question 19

Innovation is the ability to apply creative solutions to problems and opportunities to enhance or enrich people's lives.

Question 20

When developing creative solutions to modern problems, entrepreneurs must ________.

A) go beyond merely using whatever has worked in the past
B) limit the creative process to only profitable ventures
C) remember what has worked in the past
D) pay attention to limiting factors

Question 21

Which hemisphere of the brain processes information all at once and by relying heavily on images?

A) Right hemisphere
B) Left hemisphere
C) Vertical hemisphere
D) Logical hemisphere

Question 22

Entrepreneurs must embrace traditional assumptions and perspectives about how things ought to be because they support creativity.

Question 23

________ lateral thinking is somewhat unconventional and unstructured.

A) Left-brained
B) Right-brained
C) Systematic
D) Logical

Question 24

Research shows that each hemisphere of the human brain processes information differently and that one side of the brain tends to be dominant over the other.

Question 25

Which hemisphere of the brain is responsible for the body's emotional, intuitive, and spatial functions?

A) Right hemisphere
B) Left hemisphere
C) Vertical hemisphere
D) Logical hemisphere

Question 26

Creative thinking involves research into the operation of the human brain and the roles each hemisphere of the brain plays.

Question 27

History is always a reliable predictor of the future of business.

Question 28

Creativity is not only an important source for building a competitive advantage, but it also is necessary for survival.

Question 29

The right brain relies on kaleidoscopic, lateral thinking.

Question 30

The left brain is guided by linear, vertical thinking.

Question 31

Successful entrepreneurship requires left-brain thinking.

Question 32

________ vertical thinking is narrowly focused and systematic, proceeding in a highly logical fashion from one point to the next.

A) Left-brained
B) Right-brained
C) Unconventional
D) Intuitive

Question 33

While most people see what they have always seen, creative entrepreneurs are able to see beyond preconceptions.

Question 34

The left brain is guided by ________.

A) kaleidoscopic, lateral thinking
B) linear, vertical thinking
C) asymmetrical thinking
D) intuitive thinking

Question 35

Which hemisphere of the brain is responsible for language, logic, and symbols?

A) Right hemisphere
B) Left hemisphere
C) Lateral hemisphere
D) Intuitive hemisphere

Question 36

The left brain relies on kaleidoscopic, lateral thinking.

Question 37

Research into the operation of the human brain shows that each hemisphere of the brain ________.

A) develops symmetrically
B) controls similar functions
C) does not dominate the other hemisphere
D) processes information differently

Question 38

Which hemisphere of the brain processes information in a step-by-step fashion?

A) Right hemisphere
B) Left hemisphere
C) Lateral hemisphere
D) Intuitive hemisphere

Question 39

The right brain is guided by ________.

A) kaleidoscopic, lateral thinking
B) linear, vertical thinking
C) asymmetrical thinking
D) logical thinking

Question 40

The right brain is guided by linear, vertical thinking.

Question 41

The right brain processes information in a step-by-step fashion.

Question 42

Right-brain thinking is much like the image of a kaleidoscope.

Question 43

The left brain processes information intuitively - all at once, relying heavily on images.

Question 44

Entrepreneurship requires both left- and right-brained thinking.

Question 45

The rapidly accelerating rate of change has created an environment in which staying in a leadership position requires constant creativity, innovation, and entrepreneurship.

Question 46

Right-brain thinking draws on the power of divergent reasoning, which is the ability to create a multitude of original, diverse ideas, while left-brain thinking counts on convergent reasoning, the ability to evaluate multiple ideas and choose the best solution to a given problem.

Question 47

"Constantly being practical" is a mental block that can stifle creativity.

Question 48

Left-brained individuals realize that there may be more than one right answer.

Question 49

The right brain takes care of the body's emotional, intuitive, and spatial functions.

Question 50

Entrepreneurs need to rely on left-brain thinking to generate innovative product, service, or business ideas and use right-brain thinking to judge the market potential of the ideas they generate.

Question 51

Explain the differences between the left and right sides of the brain.

Question 52

The left brain handles language, logic, and symbols.

Question 53

The left brain processes information in a step-by-step fashion.

Question 54

Successful entrepreneurs push technological and economic boundaries forward in creative ways and sometimes make unconventional decisions.

Question 55

Right-brained individuals tend to challenge tradition, custom, and routine.

Question 56

Businesses typically foster an environment that encourages creativity.

Question 57

All of the following represent barriers to creativity that entrepreneurs impose upon themselves except ________.

A) focusing on being too logical
B) being too practical
C) blindly following rules
D) searching for more than one answer

Question 58

The right brain processes information intuitively - all at once, relying heavily on images.

Question 59

Viewing play as frivolous is a mental block that stifles creativity.

Question 60

Ambiguity tends to destroy creativity.

Question 61

List five of the barriers that limit creativity.

Question 62

Which stage of the creative process requires one to develop a solid understanding of the problem or decision?

A) Investigation
B) Preparation
C) Illumination
D) Verification

Question 63

Hiring a diverse workforce makes it more difficult to achieve creativity in the workplace.

Question 64

List five ways entrepreneurs can stimulate their own creativity and encourage it among workers.

Question 65

Employees must be given the tools and resources they need to be creative. One of the most valuable set of resources is ________.

A) setting limits and providing challenges
B) establishing rules and guidelines
C) time, support and encouragement
D) reinforce traditional problem solving methods

Question 66

All of the following are enhancements to individual creativity except ________.

A) keeping a journal to record thoughts and ideas
B) limiting your reading sources
C) taking time off
D) allowing yourself to be creative

Question 67

Which stage of the creative process involves viewing the similarities and differences in the information collected?

A) Transformation
B) Incubation
C) Illumination
D) Verification

Question 68

Enhancing individual creativity may be cultivated through such activities as modeling, encouragement, recognition, allowing failure, listening, talking to children, and taking time off.

Question 69

Which of the following is not an enhancement to individual creativity?

A) Listening to other people.
B) Recognizing the creative power of mistakes.
C) Keeping a toy box in your office.
D) Working without breaks until the project is complete or the problem is solved.

Question 70

Entrepreneurs can encourage creative thinking in their employees by setting examples of creative behavior and rewarding creative behavior when exhibited by their employees.

Question 71

Failure is an important part of the creative process, as it provides a chance to learn how to succeed.

Question 72

Hiring a diverse workforce ________.

A) helps in cultivating organizational creativity
B) allows for different ideas and varying methods of problem solving
C) brings in people from different backgrounds, with different cultural experiences, hobbies, and interests
D) All of the above

Question 73

The ________ environment has an impact on the level of people's creativity.

A) physical
B) sounds in the
C) external
D) internal

Question 74

Which stage of the creative process includes on-the-job training?

A) Implementation
B) Preparation
C) Illumination
D) Verification

Question 75

Which of the following sets of experiences may enhance individual creativity?

A) Travel and recognize the creative power of mistakes and accidents.
B) Notice what is missing.
C) Journal and listen to people and customers.
D) All the above

Question 76

Research shows that not everyone can be creative.

Question 77

List five ways individuals can enhance their own creativity.

Question 78

Entrepreneurs can stimulate their own creativity and encourage it among workers by ________.

A) expecting and tolerating failure
B) avoiding problems
C) limiting rewards
D) not taking chances

Question 79

Employees tend to rise or fall to the level of expectations entrepreneurs have of them.

Question 80

Which of the following is not one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers?

A) Provide creativity training.
B) Encourage curiosity.
C) View challenges as problems.
D) Develop a corporate culture that both fosters and rewards creativity.