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Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) What is the entrepreneurial "secret" for creating value in the 1) _______ marketplace? A) Creating New Products and Services B) Applying Lessons Learned from History C) Applying Creativity and Innovation to Solve Problems D) Learning by Doing 2) The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called: A) entrepreneurship. B) creative thinking. C) creativity. D) innovation. 2) _______ 3) The ability to apply creative solutions to problems and opportunities to enhance or to enrich people's lives is called: A) innovation. B) entrepreneurship. C) creative thinking. D) creativity. 3) _______ 4) Harvard's Theodore Levitt says that creativity is ________ new things, and innovation is ________ new things. A) doing; thinking B) thinking; doing C) seeing; doing D) thinking; applying 4) _______ 5) Creativity often involves creating something from nothing. However, it is more likely to result in: A) elaborating on the present. B) taking something away to create something simpler or better. C) putting old things together in new ways. D) All of the above. 5) _______ 6) Entrepreneurship is a constant process that relies on: A) the ability to win over the consumer. B) creativity, innovation, and profit. C) creativity, innovation, and application in the marketplace. D) intellectual property rights. 6) _______ 7) When developing creative solutions to modern problems, entrepreneurs must: A) pay attention to limiting factors. B) go beyond merely using whatever has worked in the past. C) limit the creative process to only profitable ventures. D) remember what has worked in the past. 7) _______ 8) A(n) ________ is a preconceived idea of what the world is, what it should be like, and how it should operate. A) entrepreneur B) paradigm C) profitable vision D) innovation 8) _______ 9) Research shows that anyone can learn to be creative. The problem is: 9) _______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere A) many organizations fail to foster an environment that encourages creativity. B) most people have never been taught to be creative. C) most people never tap into their pools of innate creativity. D) All of the above. 10) Research into the operation of the human brain shows that each hemisphere of the brain: A) controls similar functions. B) does not dominate the other hemisphere. C) processes information differently. D) develops symmetrically. 10) ______ 11) The left-brain is guided by: A) kaleidoscopic, lateral thinking. B) linear, vertical thinking. C) intuitive thinking. D) asymmetrical thinking. 11) ______ 12) The right brain is guided by: A) asymmetrical thinking. B) logical thinking. C) kaleidoscopic, lateral thinking. D) linear, vertical thinking. 12) ______ 13) Which hemisphere of the brain is responsible for language, logic, and symbols? A) Left Hemisphere B) Right Hemisphere C) Lateral Hemisphere D) Intuitive Hemisphere 13) ______ 14) Which hemisphere of the brain is responsible for the body's emotional, intuitive, and spatial functions? A) Vertical Hemisphere B) Left Hemisphere C) Right Hemisphere D) Logical Hemisphere 14) ______ 15) Which hemisphere of the brain processes information in a step-by-step fashion? A) Lateral Hemisphere B) Left Hemisphere C) Right Hemisphere D) Intuitive Hemisphere 15) ______ 16) Which hemisphere of the brain processes information all at once and by relying heavily on images? A) Logical Hemisphere B) Vertical Hemisphere C) Left Hemisphere D) Right Hemisphere 16) ______ 17) ________ vertical thinking is narrowly focused and systematic, proceeding in a highly logical fashion from one point to the next. A) Unconventional B) Left-brained C) Right-brained D) Intuitive 17) ______ 18) ________ lateral thinking is somewhat unconventional and unstructured. 18) ______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere A) Systematic C) Left-brained B) Logical D) Right-brained 19) In his book A Whack on the Side of the Head, Roger von Oech views a "playful attitude" as: A) limiting individual creativity. B) fundamental to creative thinking. C) a mental block. D) frivolous. 19) ______ 20) All of the following represent barriers to creativity that entrepreneurs impose upon themselves except: A) being too practical. B) blindly following rules. C) focusing on being too logical. D) searching for more than one answer. 20) ______ 21) Roger von Oech believes that blindly following rules leads to: A) new ways of doing things. B) order, which stimulates creativity. C) a mental block towards creativity. D) a clearer vision and business venture. 21) ______ 22) Joseph Schumpeter wrote that entrepreneurs perform the vital function of: A) creative destruction. B) revolutionizing current patterns of production. C) challenging accepted ways of doing things. D) All of the above. 22) ______ 23) Entrepreneurs can stimulate their own creativity and encourage it among workers by: A) avoiding problems. B) limiting rewards. C) expecting and tolerating failure. D) not taking chances. 23) ______ 24) Which of the following is NOT one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers? A) Develop a corporate culture that both fosters and rewards creativity B) Provide creativity training C) Encourage curiosity D) View challenges as problems 24) ______ 25) Employees must be given the tools and resources they need to be creative. One of the most valuable resources is: A) time. B) money. C) rules and guidelines. D) providing challenges. 25) ______ 26) Hiring a diverse workforce: 26) ______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere A) allows for different ideas and varying methods of problem solving. B) brings in people from different backgrounds, with different cultural experiences, hobbies, and interests. C) helps in enhancing organizational creativity. D) All of the above. 27) 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) allowing yourself to be creative. D) taking time off. 27) ______ 28) Which of the following is NOT an enhancement to individual creativity? A) Working without breaks until the project is complete or the problem is solved B) Recognizing the creative power of mistakes C) Listening to other people D) Keeping a toy box in your office 28) ______ 29) Which stage of the Creative Process includes on-the-job training? A) Verification B) Implementation C) Illumination D) Preparation 29) ______ 30) Which stage of the Creative Process requires one to develop a solid understanding of the problem or decision? A) Preparation B) Investigation C) Illumination D) Verification 30) ______ 31) Which stage of the Creative Process involves viewing the similarities and differences in the information collected? A) Transformation B) Illumination C) Verification D) Incubation 31) ______ 32) The ability to see the similarities and the connections among various data and events is called: A) Divergent thinking. B) Transformational thinking. C) Illumination. D) Convergent thinking. 32) ______ 33) The ability to see the differences among various data and events is called: A) Transformational thinking. B) Illumination. C) Divergent thinking. D) Convergent thinking. 33) ______ 34) ________ thinking is the ability to see similarities and ________ thinking is the ability to see differences among various data and events. A) Convergent; Divergent B) Divergent; Convergent C) Convergent; Transformational D) None of the above. 34) ______ 35) During the Incubation Phase of the Creative Process, the entrepreneur mig ht do Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere all of the 35) followin g EXCEPT which one to let ideas "marinat e" in his mind? A) B) C) D) ___ ___ Don't allow himself to daydream Relax and play regularly Do something totally unrelated for awhile Work on the problem or opportunity in a different environment 36) At which stage of the Creative Process does a spontaneous breakthrough occur, allowing all of the previous stages to come together to produce the "Eureka Factor" or the "light bulb goes on"? A) Illumination B) Preparation C) Implementation D) Verification 36) ______ 37) "Verification" refers to: A) possibly conducting experiments, running simulations, test marketing a product or service. B) possibly asking questions such as "will it work?" and "is it really a better solution?" C) validating the idea as accurate and useful. D) All of the above. 37) ______ 38) The focus of this step in the Creative Process is to transform the idea into reality. A) Implementation B) Preparation C) Verification D) Illumination 38) ______ 39) ________ is a process in which a small group of people interacts to produce a large quantity of imaginative ideas. A) Groupthink B) Prototyping C) Mind-mapping D) Brainstorming 39) ______ 40) Effective Brainstorming involves all of the following except: A) a small group of people. B) very little structure. C) an open uninhibited environment. D) an effective method to evaluate ideas. 40) ______ 41) ________ is a graphical technique that encourages thinking on both sides of the brain, visually displays the various relationships among the ideas, and improves the ability to view a problem from many sides. A) Brainstorming B) Groupthink C) Prototyping D) Mind-mapping 41) ______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 42) Mind-mapping is a useful tool for jump-starting creativity. It includes all of the following except: A) allowing your mind to rest for a few minutes before integrating the ideas. B) sketching a picture to symbolize the problem or area of focus in the center of a sheet of paper. C) writing down every idea that comes into your mind, connecting each idea to the central picture. D) forcing creativity when ideas start to trickle. 42) ______ 43) The premise behind ________ is that transforming an idea into an actual model will lead to improvements in its design. A) Brainstorming B) Inventions C) Rapid Prototyping D) Mind-mapping 43) ______ 44) The three principles (3 R's) of Rapid Prototyping are: A) develop a complete model, rapidly and for the right problem. B) develop a rough model, rapidly and for the right problem. C) develop a rough model, rapidly and for the right price. D) develop a right model, roughly, for the right price. 44) ______ 45) Steps in the Patent Process include: A) searching existing patents. B) establishing whether or not it is a novelty. C) documenting and verifying the date the idea was first conceived. D) All of the above. 45) ______ 46) To which governmental office must applications for patents be submitted? A) The individual State Offices of Patent Development B) The U.S. Patent and Trademark Office C) Both A and B are correct. D) None of the above. 46) ______ 47) Any distinctive word, phrase, symbol, name or logo a firm uses to distinguish itself or its products is called a: A) trademark. B) patent. C) service mark. D) copyright. 47) ______ 48) A ________ is an exclusive right that protects the creators of original works such as literary, dramatic, musical, and artistic works. A) Copyright B) Trademark C) Service Mark D) Patent 48) ______ 49) Copyrights protect the creator of original works such as: A) software, choreography, and motion pictures. B) symbols, names and designs. C) Both A and B are correct. D) None of the above. 49) ______ 50) Which of the following questions should you consider before entering a law suit to Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere protect 50) intellectu al property? A) Can the opponent afford to pay if you win? B) Do you expect to get enough from the suit to pay for the costs of hiring an attorney? C) Can you afford the loss of time, money and privacy the lawsuit will bring? D) All of the above. TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 51) Creativity is the ability to apply creative solutions to problems and opportunities to enhance or enrich people's lives. ___ ___ 51) ______ 52) Innovation is the ability to develop new ideas and to discover new ways of looking at problems and opportunities. 52) ______ 53) Creativity is the ability to develop new ideas and to discover new ways of looking at problems and opportunities. 53) ______ 54) Innovation is the ability to apply creative solutions to problems and opportunities to enhance or enrich people's lives. 54) ______ 55) Successful entrepreneurs come up with ideas and then find ways to make them work to solve a problem or fill a need. 55) ______ 56) Creativity and innovation are the signature of large, entrepreneurial businesses. 56) ______ 57) Creativity and innovation are the signature of small, entrepreneurial businesses. 57) ______ 58) 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. 58) ______ 59) Innovation must be a constant process because most ideas don't work and most innovations fail. 59) ______ 60) For every 3,000 new product ideas, four make it to the development stage, two are actually launched, and only one becomes successful in the market. 60) ______ 61) On average, new products account for 2/3 - 3/4 of companies' sales. 61) ______ 62) Creativity is not only an important source for building a competitive advantage, but it also is necessary for survival. 62) ______ 63) History is always a reliable predictor of the future of business. 63) ______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 64) Entrepreneurs must embrace traditional assumptions and perspectives about how things ought to be because they support creativity. 64) ______ 65) A paradigm is a preconceived idea of what the world should be like. 65) ______ 66) Paradigms may become so deeply rooted in our minds that they become immovable blocks to creative thinking. 66) ______ 67) While most people see what they've always seen, entrepreneurs are able to see beyond preconceptions. 67) ______ 68) Successful entrepreneurs push technological and economic boundaries forward and sometimes make unconventional decisions. 68) ______ 69) The rapidly accelerating rate of change has created an environment in which staying in a leadership position requires constant creativity, innovation, and entrepreneurship. 69) ______ 70) Research shows that not everyone can be creative. 70) ______ 71) Businesses typically foster an environment that encourages creativity. 71) ______ 72) 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. 72) ______ 73) The left brain is guided by linear, vertical thinking. 73) ______ 74) The right brain is guided by linear, vertical thinking. 74) ______ 75) The left-brain relies on kaleidoscopic, lateral thinking. 75) ______ 76) The right brain relies on kaleidoscopic, lateral thinking. 76) ______ 77) The left brain handles language, logic, and symbols. 77) ______ 78) The right brain takes care of the body's emotional, intuitive, and spatial functions. 78) ______ 79) The right brain processes information intuitively-all at once, relying heavily on images. 79) ______ 80) The left brain processes information in a step-by-step fashion. 80) ______ 81) The left brain processes information intuitively-all at once, relying heavily on images. 81) ______ 82) The right brain processes information in a step-by-step fashion. 82) ______ 83) Right-brained individuals tend to challenge tradition, custom, and routine. Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 83) ______ 84) Left-brained individuals realize that there may be more than one right answer. 84) ______ 85) Entrepreneurship requires both left and right-brained thinking. 85) ______ 86) 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. 86) ______ 87) 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. 87) ______ 88) Intuition is based on the accumulated knowledge and experiences a person encounters over the course of a lifetime and resides in the subconscious. 88) ______ 89) "Constantly Being Practical" is a mental block that can stifle creativity. 89) ______ 90) Viewing play as frivolous is a mental block, which stifles creativity. 90) ______ 91) Ambiguity tends to destroy creativity. 91) ______ 92) Failure is an important part of the creative process, as it provides a chance to learn how to succeed. 92) ______ 93) Employees tend to rise-or fall-to the level of expectations entrepreneurs have of them. 93) ______ 94) Hiring a diverse work force makes it more difficult to achieve creativity in the workplace. 94) ______ 95) Entrepreneurs can encourage creative thinking in their employees by setting examples of creative behavior and rewarding creative behavior when exhibited by their employees. 95) ______ 96) "Divergent Thinking" is the ability to see similarities and connections among various data and events. 96) ______ 97) "Convergent Thinking" is the ability to see the differences among data and events. 97) ______ 98) It may appear in the Incubation Stage of the Creative Process that the entrepreneur is loafing, as he is taking time to reflect on the information collected. 98) ______ 99) The Illumination Stage of the Creative Process is often called the "Eureka Factor" and is characterized by a spontaneous breakthrough. 99) ______ Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 100) The typical entrepreneurial philosophy is "Ready, aim, aim, aim..." 100) _____ 101) When "Brainstorming," individuals should be encouraged to use "idea hitchhiking," or building new ideas on those already suggested. 101) _____ 102) During a brainstorming session, company rank and department affiliates are irrelevant. 102) _____ 103) Mind mapping is a graphical technique that encourages thinking on both sides of the brain, visually displays the various relationships among ideas, and improves the ability to view a problem from many sides. 103) _____ 104) Rapid prototyping, transforming an idea into an actual model, typically does not lead to improvements in design. 104) _____ 105) A patent gives the inventor the exclusive right to make, use, or sell an invention for 50 years. 105) _____ 106) One study reports that for the typical small business, obtaining a patent and maintaining it for 20 years costs about $10,000. 106) _____ 107) Trademarks are distinctive words, symbols, designs, names, or logos used for company identification. 107) _____ 108) A patent protects the creator of original works of authorship such as for software. 108) _____ 109) The U.S. Copyright Office does not require registering the creative work because registering it does not give creators greater protection over their work. 109) _____ 110) The major problem with relying on the legal system to enforce ownership rights is the cost of infringement lawsuits, which can quickly exceed the budget of most small businesses. 110) _____ ESSAY. Write your answer in the space provided or on a separate sheet of paper. 111) What is the entrepreneurial "secret" for creating value in the marketplace? 112) Explain the differences between the left and right sides of the brain. 113) List five of the "mental locks" that limit individual creativity. 114) List five ways entrepreneurs can stimulate their own creativity and encourage it among workers. 115) List five ways individuals can enhance their own creativity. 116) List and briefly explain the seven steps in the Creative Process. Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 117) Explain "brainstorming" and list at least five of the guidelines for a successful brainstorming session. 118) Why is it important for an entrepreneur to use techniques like Mind-mapping, which use both sides of the brain? 119) List the steps an entrepreneur should follow in order to enhance his/her chances of receiving a patent. Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15) 16) 17) 18) 19) 20) 21) 22) 23) 24) 25) 26) 27) 28) 29) 30) 31) 32) 33) 34) 35) 36) 37) 38) 39) 40) 41) 42) 43) 44) 45) 46) 47) 48) 49) 50) C C A B D C B B D C B C A C B D B D B D C D C D A D B A D B A D C A A A D A D D D D C B D B A A A D Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 51) FALSE 52) FALSE 53) TRUE 54) TRUE 55) TRUE 56) FALSE 57) TRUE 58) TRUE 59) TRUE 60) TRUE 61) FALSE 62) TRUE 63) FALSE 64) FALSE 65) TRUE 66) TRUE 67) TRUE 68) TRUE 69) TRUE 70) FALSE 71) FALSE 72) TRUE 73) TRUE 74) FALSE 75) FALSE 76) TRUE 77) TRUE 78) TRUE 79) TRUE 80) TRUE 81) FALSE 82) FALSE 83) TRUE 84) FALSE 85) TRUE 86) TRUE 87) FALSE 88) TRUE 89) TRUE 90) TRUE 91) FALSE 92) TRUE 93) TRUE 94) FALSE 95) TRUE 96) FALSE 97) FALSE 98) TRUE 99) TRUE 100) FALSE 101) TRUE Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere 102) TRUE 103) TRUE 104) FALSE 105) FALSE 106) TRUE 107) TRUE 108) FALSE 109) FALSE 110) TRUE 111) 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 everyday. Innovation is the ability to apply creative solutions to those problems and opportunities to enhance and enrich people's lives. 112) The left brain is guided by linear, vertical thinking, whereas the right brain relies on kaleidoscopic, lateral thinking. The left brain handles language, logic, and symbols, whereas the right brain takes care of the body's emotional, intuitive, and spatial functions. The left brain processes information in a step-by-step fashion, whereas the right brain processes it intuitively — all at once, relying heavily on images. Left-brained vertical thinking is narrowly focused and systematic, whereas right-brained lateral thinking is somewhat unconventional, unsystematic, and unstructured. 113) The five should come from the following list: ∙ Search for the one "right" answer. ∙ Focus on "being logical." ∙ Blindly follow the rules. ∙ Constantly be practical. ∙ View play as frivolous. ∙ Become overly specialized. ∙ Avoid ambiguity. ∙ Fear looking foolish. ∙ Fear mistakes and failure. ∙ Believe that "I'm not creative." 114) The five should come from the following list: ∙ Expect creativity. ∙ Embrace diversity. ∙ Expect and tolerate failure. ∙ Encourage curiosity. ∙ View problems as challenges. ∙ Provide creativity training. ∙ Provide support. ∙ Reward creativity. ∙ Model creative behavior. 115) The five should come from the following list: ∙ Allow yourself to be creative. ∙ Give your mind fresh input every day. ∙ Recognize the creative power of mistakes. ∙ Keep a journal handy to record your thoughts and ideas. ∙ Listen to other people. Full file at http://testbank360.eu/test-bank-essentials-of-entrepreneurship-and-small-business-management-4th-edition-zimmere ∙ Read book s on stimulating creativity or take a class on creativity. ∙ Talk to a child. ∙ Keep a toy box in your office. ∙ Take some time off. 116) A. Preparation — Get your mind ready for creative thinking through formal education, OJT, work experience, etc. This helps to build creativity and innovation. B. Investigation — Develop a solid understanding of the problem or decision. C. Transformation — View the similarities and differences in the information collected. D. Incubation — Take time to reflect on the information collected. E. Illumination — A spontaneous breakthrough occurs, causing the "light bulb to go on." All of the previous stages come together to produce the "Eureka factor." F. Verification — Validate the idea as accurate and useful. May include conducting experiments, running simulations, test marketing a product or service, etc., to verify that the new idea will work and is practical. G. Implementation — Transform the idea into reality. 117) Brainstorming is a process in which a small group of people interact with very little structure with the goal of producing a large quantity of novel and imaginative ideas. The goal is to create an open, uninhibited atmosphere that allows member of the group to "freewheel" ideas. Five guidelines should come from the following list: ∙ Keep the group small-five to eight members. ∙ Have a well-defined problem for the group to address, but don't reveal it ahead of time. ∙ Limit the session to 40-60 minutes. ∙ Appoint someone to be the recorder and write every idea on a flip chart. ∙ Use a seating pattern that encourages communication and interaction. ∙ Encourage all ideas from the team, even wild and extreme ones. ∙ Establish a goal of quantity of ideas rather than quality. ∙ Forbid evaluation or criticism of any idea during the session. ∙ Encourage participants to use "idea hitchhiking" or to "piggyback"/build new ideas on those already suggested. 118) Mind-mapping, a graphical technique that encourages thinking on both sides of the brain, visually displays the various relationships among ideas, and improves the ability to view a problem from many sides. Since entrepreneurs themselves tend to be left or right-brained thinkers, techniques like Mind-mapping encourage them to look at problems and opportunities in a different way. Mind-mapping is also a useful tool that includes: sketching a picture symbolizing the problem, connecting each idea to the central picture or words with a line, and allowing your mind to rest for a few minutes before beginning to integrate the ideas. 119) A. Establish the invention's novelty. B. Document the device. C. Search existing patents. D. Study search results. E. Submit the patent application. F. Prosecute the patent application.