Innovation and Creativity

Which of the following is the most important factor in forcing companies to focus on innovation?

• Organisational culture

• Intense competition

• Entrepreneurship

• Government laws

Research shows that entrepreneurial companies need to generate 2 or 3 ideas for developing new products in order to select the best one.

• True

• False

What is the challenge of creativity and innovation?

• They refer to the same thing

• Too often there is an assumption that creativity automatically leads to actual innovation

• They are two different concepts that are hard to be put together

What is a market gap?

• A whole in the market

• A nation's lack of innovativeness

• An opportunity that can be exploited by an entrepreneur

• Shortage of funds in the innovation process

• Restriction in the flow of new products

What innovation examples teach us is that curiosity, scientific investigation, and observation, as well as deep empathy led to the discovery of innovative solutions to important human needs and problems – solutions we still benefit from today.

• True

• False

What is the central component of the Entrepreneurship process?

• The opportunity

• The entrepreneur

• Resources

• The organisation

Innovation is a major factor in competition because it can:

• help a company expand overseas

• guarantee the monopoly position of innovative companies

• reduce research and development costs for companies

• enable companies to make competitors' products obsolete

Which two main factors influence the creativity-innovation-entrepreneurship model? (select two)

• Money factors

• Push factors

• Pull factors

• Time factors

Which of the following is not an aspect that has driven creative thinking, technological progress, and innovation throughout human history?

• Innovators exploiting a trend that was gaining momentum

• Innovators addressing a need that wasn’t met

• Innovators using an existing skill or asset in a new way

• Innovators sticking with what has always worked

Creativity arises through the confluence of the following three components:

• Creativity, innovation and entrepreneurship

• Societal, technology and economic trends

• Knowledge, creative thinking and motivation

• Problem solving, social networks and marketing