Question 31

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Contrary to popular opinion, access to venture capital is not crucial to starting up a high tech business. Only one of the following high-impact ventures relied heavily on venture capital during its start-up stage. Which one?

		Apple Computer
		FireFox
		PayPal
		Flickr

Question 32

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Gap analysis helps business planners:

		identify gaps between revenues and profits
		identify product gaps that can be filled by means of new product development
		determine which departments contribute to business operations effectively and which do not
		estimate the time between the conceiving a new product and actually delivering it

Question 33

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Seed funding for new ventures most commonly comes from:

		venture capital investors
		commercial banks
		angel investors
		personal savings, family and friends

Question 34

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Sometimes companies that produce less than stellar products win the innovation battle because of network externalities. With network externalities:

		companies that possess strong network externalities win the competition because they have superior sales capabilities
		companies that possess strong network externalities win the competition because they have superior production capabilities
		companies that possess strong network externalities win the competition because they are able to tap into a an old boy network, where important luminaries in the industry support their products
		companies that possess strong network externalities win the competition because they have a network of sales channels and support capabilities that make their products more attractive

Question 35

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Open sourcing is forcing us to rethink the meaning and rationale of intellectual property.

	True
	False

Question 36

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What inventions did Edisons originally-patented light bulb incorporate?

		Improved vacuum process and carbonized filament
		Response a above, plus platinum lead-in wires
		Response b above, plus method for securing filament in place
		Response c above, plus method to integrate components in a glass bulb

Question 37

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In his studies of highly creative people, Mihaly Czikszentmihalyi found for highly creative people to have an impact, it is not enough for them to be gifted. For creativity to take root and thrive, there must also be a well-defined domain of knowledge and ____.

		underlying process of creative destruction
		a high need-to-achieve (n-ACH)
		field of accomplishment
		need for affiliation (n-AFF)

Question 38

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Flickr and CraigsList are examples of accidental ventures they did not start out with a view of producing the products that ultimately made them big.

	True
	False

Question 39

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An important characteristic of inventions is that they have practical applications.

	True
	False

Question 40

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A significant consequence to technological innovation and entrepreneurship arising from the financial meltdown of 2008 is:

		intellectual property protection decreased
		investment capital dried up
		support for entrepreneurship education decreased
		the currency exchange rates for all countries decreased