Creating and Recognizing New Opportunities in entrepreneurship MCQs
Creating and Recognizing New Opportunities in entrepreneurship MCQs
Answer these 30 Creating and Recognizing New Opportunities in entrepreneurship MCQs and assess your grip on the subject of Creating and Recognizing New Opportunities in entrepreneurship.
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1: Alertness is ability of_______.
A. Some people have to identify opportunities.
B. ability to quickly sense, take action, and get organize
C. Both a & b
D. None of these
2: Actions that involve taking time to think carefully about a problem by breaking it up into parts, or looking at it in a more general way is known as
A. Analytical Strategies
B. Design Pathway
C. Alertness
D. Development Strategies
3: A pathway that can uncover high-value opportunities because the entrepreneur is focusing on unmet needs of customers, specifically latent need is known as?
A. Design Pathway
B. Smooth Pathway
C. linearly Pathway
D. Pathway
4: Development Strategies involve enhancing _____
A. modifying existing ideas in order to create better alternatives and new possibilities.
B. uncover high-value opportunities
C. using what you have (skills, knowledge, abilities) to uncover an opportunity that uniquely fits you.
D. techniques that help to break our minds out of mental fixedness in order to bring about creative insights.
5: Effectuate Pathway is a that involves_____.
A. modifying existing ideas in order to create better alternatives and new possibilities.
B. uncover high-value opportunities
C. using what you have (skills, knowledge, abilities) to uncover an opportunity that uniquely fits you.
D. techniques that help to break our minds out of mental fixedness in order to bring about creative insights.
6: _____ assumes that opportunities exist independent of entrepreneurs and are waiting to be found.
A. Design Pathway
B. Smooth Pathway
C. Find Pathway
D. None of these
7: Habit-Breaking Strategies is actions that involve____.
A. techniques that help to break our minds out of mental fixedness in order to bring about creative insights.
B. suspending disbelief and dropping constraints in order to create unrealistic states or fantasies.
C. group members generating ideas and building on each other’s ideas.
D. Opportunity
E. consciously making links between concepts or ideas that are not normally associated with each other.
8: _____ involve suspending disbelief and dropping constraints in order to create unrealistic states or fantasies.
A. Interpersonal Strategies
B. Pattern Recognition
C. Imagination-Based Strategies
D. Habit-Breaking Strategies
9: Actions that involve group members generating ideas and building on each other’s ideas.
A. Interpersonal Strategies
B. Pattern Recognition
C. Imagination-Based Strategies
D. Habit-Breaking Strategies
10: The process of identifying links or connections between apparently
A. Interpersonal Strategies
B. Pattern Recognition
C. Imagination-Based Strategies
D. Habit-Breaking Strategies
11: Prior Knowledge information gained from a_____.
A. combination of life and work experience.
B. combination of book and work experience.
C. combination of someone's knowledge and work experience.
D. All above mentioned
12: Relationship-Seeking Strategies Plans of action that involve___.
A. techniques that help to break our minds out of mental fixedness in order to bring about creative insights.
B. suspending disbelief and dropping constraints in order to create unrealistic states or fantasies.
C. consciously making links between concepts or ideas that are not normally associated with each other.
D. combination of book and work experience
13: Search Pathway is used when ______
A. entrepreneurs are not quite sure what type of venture they want to start, so they engage in an active search to discover new opportunities.
B. retrieve memories in order to make links or connections based on personal experience that are relevant to the current problem
C. narrow down the number of ideas generated through divergent thinking in an effort to identify which ones have the most potential.
D. People need what is technologically feasible and economically viable.
14: Actions that involve using a stimulus to retrieve memories in order to make links or connections based on personal experience that are relevant to the current problem is known as.?
A. Search Strategies
B. AEIOU Framework
C. Search Pathway
D. None of these
15: The different methods by which third parties such as brokers (or “middlemen”) can generate money.
A. Seller
B. Customer
C. Broker
D. None of these
16: That some people spot opportunities while others don’t, suggests that entrepreneurs who are ______ their environment are able to take advantage of opportunities that are not found through rational and systematic search.
A. active in
B. alert to
C. embedded in
D. new to
17: An idea that has a high degree of novelty but may or may not have a high level of usefulness is considered to be ______.
A. innovation
B. improvement
C. invention
D. irrelevant
18: By training themselves to note changes in technology, markets, and demographics; engage in active searches; and keep an open mind to recognizing trends and patterns, individuals can become better at ______.
A. opportunity recognition
B. pattern recognition
C. networking
D. partnership identification
19: ______ strategies for idea generation involve using memory to retrieve information to make links or connections based on past experiences that are relevant to the current problem.
A. Analytical
B. Search
C. Imagination-based
D. Development
20: The ______ approach is the least complicated and most common way to identify new opportunities.
A. effectuating
B. searching
C. designing
D. finding
21: ______ strategies for idea generation involve consciously making links between concepts or ideas that are not normally associated with each other.
A. Habit-breaking
B. Relationship-seeking
C. Interpersonal
D. Network
22: The process of identifying links or connections between apparently unrelated things or events is known as ______.
A. relating prior knowledge
B. pattern recognition
C. network identification
D. opportunity conjoining
23: In the IDEATE approach, to define and understand a particular market and validate new ideas with early adopters is the ______ stage.
A. enhance
B. anticipate
C. target
D. evaluate
24: ______ is an apparent way of generating value through unique, novel, or desirable products or services that have not been previously exploited.
A. Entrepreneurship
B. Creativity
C. Innovation
D. Opportunity
25: In the IDEATE approach, to actively search for ideas in problem-rich environments where there are social and demographic changes, technological change, political and regulatory change, and/or changes in industry structure is the ______ stage.
A. identify
B. discovery
C. enhance
D. anticipate
26: Which of the following is accurate about innovation?
A. Many well-known inventions have evolved because of a substantial number of people working on them simultaneously.
B. Most well-known inventions are rightly attributed to a single, inspired innovator.
C. The majority of well-known innovations are subject to copyright protection.
D. Innovation and opportunity are synonyms.
27: It is most accurate to say that the entrepreneurial mindset is all about openness to ______.
A. the new
B. profit motive
C. market forces
D. mentoring
28: ______ opportunities involve using what you have (skills, knowledge, abilities) to uncover an opportunity that uniquely fits with the entrepreneur.
A. Designing
B. Effectuating
C. Searching for
D. Finding
29: The ______ pathway to opportunity identification is the concept that opportunities exist independent of entrepreneurs and are waiting to be discovered.
A. design
B. effectuate
C. searchfind
D. find
30: Entrepreneurs typically go through three processes before they are able to identify an opportunity for a new business ventures. These processes are
A. Idea generation, creativity, and opportunity recognition.
B. Opportunity recognition, opportunity identification, and opportunity exploitation.
C. Opportunity recognition, innovation, and implementation.
D. Creative problem solving, idea recognition, and opportunity identification.
Creating and Recognizing New Opportunities in entrepreneurship MCQs
