Chapter 3 Review

The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called ____.

• entrepreneurship

• innovation

• creativity

• creative thinking

An entrepreneurial "secret" for creating value in the marketplace is ____.

• applying creativity and innovation to solve problems

• creating new products and services

• learning by doing

• applying lessons learned from history

Entrepreneurship is a constant process that relies on ____.

• creativity, innovation, and profit

• the ability to win over the consumer

• creativity, innovation, and application in the marketplace

• intellectual property rights

____ is necessary for building a competitive advantage and for business survival.

• One single idea

• A motivated owner

• Creativity

• A low-priced product

Creativity often involves creating something from nothing. However, it is more likely to result in ____.

• elaborating on the present

• putting old things together in new ways

• taking something away to create something simpler or better

• All of these

When developing creative solutions to modern problems, entrepreneurs must ____.

• go beyond merely using whatever has worked in the past

• limit the creative process to only profitable ventures

• remember what has worked in the past

• pay attention to limiting factors

Research into the operation of the human brain shows that each hemisphere of the brain ____.

• develops symmetrically

• controls similar functions

• does not dominate the other hemisphere

• processes information differently

All of the following represent barriers to creativity that entrepreneurs impose upon themselves EXCEPT ____.

• focusing on being too logical

• being too practical

• blindly following the rules

• searching for more than one answer

Entrepreneurs can stimulate their own creativity and encourage it among workers by ____.

• expecting and tolerating failure

• avoiding problems

• limiting rewards

• not taking chances

Which of the following is NOT one of the ways entrepreneurs can stimulate their own creativity and encourage it among their workers?

• Provide creativity training

• Encourage curiosity

• View challenges as problems

• Develop a corporate culture that both fosters and rewards creativity