1.Brad Johnson is starting an upscale men's clothing store in a mall near Seattle. He wants to open his store during the time period in which a business like his can realistically enter the new market. Brad is trying to open his business while the ________ is open.

	a	safe harbor
	b	window of opportunity
	c	portal of entry
	d	doorway of opportunity

 2.Brainstorming is used to generate a number of ideas quickly.

 

True

 False

2.Focus groups typically involve a group of people who are unfamiliar with a topic and are brought together to respond to questions.

 True

 False

3.Format that is usually used to prepare business plan for an investor.

	a	Full business plan
	b	Summary plan
	c	Operational business plan
	d	Business plan

A(n) ________ is a physical or digital repository for storing ideas.

	a	suggestion bank
	b	idea depository
	c	suggestion pool
	d	Idea bank

4.The five stages of the creative process include preparation, incubation, insight, evaluation, and elaboration."

 True

 False

 

5.he number one rule for a brainstorming session is ________.

	a	no criticism is allowed
	b	no freewheeling is allowed
	c	no leapfrogging is allowed
	d	no more than 10 people are allowed to participate

6.An assessment of the overall appeal of the product or service being proposed.

	a	Feasibility analysis template
	b	Industry/ Target Market feasibility
	c	Product/ Service feasibility analysis
	d	Approaches to assessing product demand

7.An opportunity has the following four essential qualities ____.
a)"attractive; timely; durable; and anchored in a product, service, or business that creates or adds value for its buyer or end user" 

b)"practical; opportune; appropriate; and anchored in a product, service, or business that is efficient and effective"
c)"realistic; striking; timely; and anchored in a product, service, or business that is timely"
d)"attention-getting; attractive; timely; and anchored in a product, service, or business that creates or adds value for its buyer or end user"

8.Which of the following is correct regarding opportunities and ideas?
a)An opportunity and an idea are essentially the same thing.
b)It's important to discern whether a particular idea meets the criteria for an opportunity.
c)"An opportunity is a thought, an impression, or a notion."
d)"An idea is a favorable set of circumstances that creates a need for a new product, service, or business."

9.An assessment of the overall appeal of the product or service being proposed.
a)Approaches to assessing product demand
b)Product/ Service feasibility analysis
c)Industry/ Target Market feasibility
d)Feasibility analysis template

10."In the five-stage creative process, the flash of recognition, or what is sometimes referred to as the ""eureka"" experience, occurs in the ____ stage."
a)insight
b)preparation
c)elaboration
d)evaluation

11.According to the textbook, opportunities are ____."
a)easy to spot
b)"easy to spot in fast growing industries, but tough to spot in slow growing industries"
c)"easy to spot in the manufacturing sector, but tough to spot in the service sector"
d)tough to spot

12.Works best for companies that are very early in their development.
a)Full business plan
b)Summary plan
c)Operations plan
d)Business plan

13."To make sure that its customers are satisfied and to probe for new product ideas, Intuit routinely sends employees to the facilities of their customers. This technique for generating new business ideas is called ____."
a)brainstorming
b)day-in-the-life research
c)Focus group
d)survey

14.Evaluation is the stage of the creative process during which the idea is put into its final form.
True

False

15.According to the textbook, the best approach to utilizing a library for entrepreneurship-related research is to ____."
a)discuss your general area of interest with a reference librarian
b)focus your efforts on studying newspapers and periodicals
c)focus your efforts on browsing through industry-related materials
d)discuss your general area of interest with other library patrons

16.Which of the following is not one of the rules for a formal brainstorming session?
a)The session is used for decision making.
b)Leapfrogging is encouraged.
c)Freewheeling is encouraged.
d)No criticism is allowed.

17.In 2000, Tish Cirovolo realized that there were no guitars on the market made specifically for women. As a result, she started Daisy Rock Guitars, a company that makes guitars just for women. Daisy Rock Guitars are stylish and come in feminine colors, and incorporate design features that accommodate a woman's smaller hand and build. The best way to describe how Cirovolo's business idea was recognized is ____."
a)brainstorming
b)reading industry reports
c)finding a gap in the marketplace
d)observing trends

18.The group of founders, key employees, and advisers that either manage or help manage a new business in its start-up years."
a)New venture team
b)Concept test
c)Characteristics of attractive industries
d)Industry

Answer rating: 100% (QA)

1B Window of opportunity 2 A True 3 A True 4 A Full business plan 5 D Ide... View the full answer