MANU 4211 | MFGA 4210 - Chap 1 & 2

What are some idea generation techniques in entrepreneurship?

• brainstorming, focus group, survey

• brainwriting, survey, reverse brainstorming

How does value creation play a role in entrepreneurship?

• Value creation is essential for entrepreneurs to meet customer needs and differentiate themselves from competitors.

• Value creation is only important for established businesses, not for startups.

• Value creation is not important in entrepreneurship.

• Entrepreneurs should focus on imitating competitors instead of creating value.

What are the five pillars in entrepreneurship?

• creativity, networking, sales, growth, and sustainability

• idea, funding, competition, marketing, and success

• risk, innovation, marketing, growth, and profit

• value creation, the lean startup, customer discovery and validation, business model canvas, entrepreneurial method

Enterpreneurial ideas can be generated from ......

• work experience

• interests and passion

• hobbies

• observation the environment

What is an opportunity assessment plan in entrepreneurship?

• A plan for identifying and exploiting market gaps.

• A systematic process and short business plan in evaluating and analyzing potential business opportunities.

• A document that outlines the risks and challenges of starting a business.

• A strategy for maximizing profits in a competitive market.

Give an example of an idea generation technique.

• Mind mapping

• Random guessing

• Brainstorming

• Copying someone else's idea

The characteristics of an entrepreneur are/is .....

• creative and innovative

• people oriented

• profit oriented

• market player

List the fundamental venture types.

• B2B, B2K, B2G

• B2B, B2C, B2G

• B2C, B2G, B2T

• B2C, B2A, B2G

Many ventures such as Coway and Toyota offer both products and services to their clients.

• True

• False

There are three primary ways to create value in B2B quadrant, except ......

• Help companies make more money

• Help companies save money

• Help companies go bankrupt

• Help companies comply with government regulations and/or community norms.