Quiz on Ideation in Entrepreneurship

What is the best definition of ideation in entrepreneurship?

• Marketing your business idea

• The process of hiring creative employees

• Generating, developing, and communicating new ideas

• Documenting business operations

Ideation is closely related to which of the following concepts?

• Accounting and auditing

• Creativity and innovation

• Customer service and loyalty

• Import and export

According to Osborn (1953), ideation involves:

• Legal registration of business

• Inventory control

• Brainstorming and creative thinking

• Financial forecasting

Ideation is important in entrepreneurship because:

• It reduces business tax

• It helps generate original business ideas

• It automates customer service

• It avoids employee turnover

Ideation allows entrepreneurs to:

• Copy existing ideas

• Develop fixed assets

• Identify and solve problems creatively

• Reduce customer base

One of the key benefits of ideation is:

• Reducing business competition

• Identifying gaps in the market

• Decreasing product quality

• Minimizing employee wages

Without ideation, businesses risk:

• Overproduction

• Repeating old designs

• Copying others without adding value

• Becoming monopolies

Innovative thinking through ideation leads to:

• Higher taxes

• Competitive advantage

• Lower employee satisfaction

• Longer legal processes

Ideation helps entrepreneurs create:

• Financial statements

• Unique value propositions

• Employee contracts

• Office layouts

Ideation is considered the ________ in business development.

• Final step

• Administrative task

• First step

• Branding strategy