THE ENTREPRENEURIAL MIND (MIDTERM)

_______________ or market intermediaries, also serves as a very effective source for new ideas for entrepreneurs. The reason is that they ultimately deal with the ultimate consumers and, hence, better know the consumers’ wants.

• distribution channel

• warehouse

• supplier

• distributor

In a sense, opportunity identification and selection are akin to, what is termed in marketing terminology, ‘____________________'

• research and development

• marketing research

• new product development

• market survey

__________________ is a technique for using information from one source to solve a problem in another context. Often one solution to a problem or opportunity can be used to solve another problem.

• opposite thinking

• analogy thinking

• product modeling

• brainstorming

Brainstorming technique was originally adopted by ____________________ in 1938 in an American Company for encouraging creative thinking in groups of six to eight people.

• Alex Osgorn

• Alex McOsborn

• Alex Osborn

• Alex Ostorn

brainstorming means ..,

• using the brain to storm the issue/problem

• using the brain to think of a storm

• using the brain to study a storm

• using the brain to predict storm

It’s a useful tool to consider if you feel your team is stuck with the conventional mindset and coming up with those “out-of-the-box ideas” seems to be difficult.

• opposite thinking

• brainstorming

• analogy thinking

• scamper technique

This action focuses on reversing the order of interchangeable elements of an idea

• reverse

• modify

• put another use

• adapt

This approach focuses on finding ways to use the idea or existing solution for another purpose and analyses the possible benefits if applied to other parts of the business.

• ELIMINATE

• MODIFY

• PUT TO ANOTHER USE

• SUBSTITUTE

Substitution technique refers to...,

• explores the possibility to combine two ideas into a single, more effective solution

• replacing a part of your product, concept or process with another to achieve even better outcome

• analyses the possibilities to make the process more flexible and focuses on other similar incremental improvements to the idea, process, or concept

• Modifying the idea looks at the problem or opportunity from a bigger perspective and aims for improving the overall results, not just the idea

The SCAMPER technique is created by _______________________, and is a method used for problem-solving and creative thinking.

• BOB DYLAN

• BOB MARLEY

• BOB EBERLE

• BOB RIVAN