Midterm Exam in Entrepreneurial Management

Which of the following questions concerning innovation is not relevant?

• “What is the problem?”

• “Whom does it affect?”

• “What costs are involved?”

• “When the product goes to market?”

Which of the following statements is true?

• Innovation is the specific function of entrepreneurship.

• Innovation is the process by which entrepreneurs consume marketable ideas.

• Innovation does not involve change.

• Innovation is the government’s responsibility.

Which of the following are keys to understanding opportunity and its development for entrepreneurs?

• creativity and capital

• innovation and creativity

• background and knowledge

• incubation and experience

Entrepreneur sense potential in business problems by asking

• who is to blame and how to relocate them?

• what about profits?

• what if and why not?

• farfetched, unimaginative questions

The two most important aspects of creativity are

• design and solution.

• intelligence and technical competence.

• process and people.

• capital and opportunity.

Which of the following statements is true?

• People are born with creativity and can do nothing to change their level of creativity.

• People can learn to be creative.

• Creativity has nothing to do with learning.

• The creative mind cannot be developed.

Some ways to develop a creative mind include

• reading a variety of textbooks on entrepreneurship.

• creative minds are born not made.

• observing other entrepreneurs.

• getting away from it all.

The incubation process involves which of the following?

• working harder

• letting the subconscious work

• talking with friends

• changing jobs

Which of the following statements is true?

• The right brain helps people analyze and verbalize.

• The right brain helps people understand analogies and imagine things.

• The left brain helps people understand analogies and imagine things.

• Right and left brain concepts are meaningless.

Which of the following can help speed up the idea process?

• working harder

• seeing new movies

• taking breaks while working

• intuition