TECHNO-4A-special Midterm Exam

Which of the following best defines innovation?

• Improving old products only

• Creating new ideas, products, or methods that add value

• Copying competitors’ products

• Reducing costs without changes

Why is innovation important?

• It eliminates competition

• It drives progress, competitiveness, and improves quality of life

• It focuses only on profit

• It avoids risks

The Post-it Note was originally a result of:

• An attempt to create a strong adhesive

• A project to make new types of paper

• A new type of pen design

• A failed ink experiment

Who recognized the use of weak adhesive for bookmarks, leading to the Post-it Note?

• Steve Jobs

• Brian Chesky

• Art Fry

• Nathan Blecharczyk

Which of the following is NOT part of an entrepreneurial mindset?

• Curiosity

• Resilience

• Risk-taking

• Avoiding failure at all costs

Entrepreneurs ask questions like:

• "What’s the safest path?"

• "Why?" and "What if?"

• "How can I copy others?"

• "When will I retire?"

A key trait of entrepreneurs that allows them to bounce back from setbacks is:

• Vision

• Risk-taking

• Resilience

• Curiosity

Networking in an entrepreneurial mindset is important because:

• It reduces expenses

• It builds relationships with other innovators

• It avoids competition

• It guarantees investment

The first stage of product design is:

• Prototyping

• Concept Development

• Idea Generation

• Testing and Feedback

Which stage involves turning ideas into more concrete concepts?

• Launch

• Concept Development

• Prototyping

• Empathy Mapping