(P) Lesson 3: Innovation (lecture/book-based)

Question 1

it signal shifts in the current paradigm (i.e. thinking) of the major population.

Answer 1

Trend

Question 2

Central to the domain of entrepreneurship; progenitor of both personal and societal wealth; primary challenges of entrepreneurship research

Answer 2

opportunity identification

Question 3

2 important components of creative problem solving

Answer 3

creativity

Question 4

Primary disadvantage of trends

Answer 4

Fleeting (mabilis lang)

Question 5

this is any trends that pertain on the aging demographics, health and fitness growth. senior living

Answer 5

societal trends

Question 6

this trend pertain on mobile technology, e-commerce, internet devices; there’s a lot of resources that facilitate AI

Answer 6

technology trend

Question 7

this trend pertain to higher disposable incomes, dual wage-earner families, performance pressures; economy of a certain country

Answer 7

economic trends

Question 8

this trend pertain to increased regulations, petroleum prices, terrorism

Answer 8

government trends

Question 9

This refers to success or failure that often prove to be major sources of innovation

Answer 9

unexpected occurrences

Question 10

the infamous 9/11 terrorist attack on US us a goos example of?

Answer 10

unexpected occurences

Question 11

It refers to the gap between expectations and reality

Answer 11

Incongruities

Question 12

it is similar to incongruities, where some entrepreneurs can improve existing products or service to become convenient; the problem here is that it stem from the indequacy

Answer 12

process needs

Question 13

the source of innovative ideas can stem from investing in market research; can monitor and analyze the needs for market consumers; evolution of change in the market place due to consumer attitude, expectations, advancements in technology.

Answer 13

industry and market changes

Question 14

This source of innovation refers to changes in population, size, age, education, etc.

Answer 14

Demographic

Question 15

pertain to changes in perception of people which can occur when there’s a domination population; it implies that the needs or wants of people changes overtime; similar to trend

Answer 15

perceptual changes

Question 16

product of new thinking; only refers to invention due to testing and multiplication; related more on researching and technical knowledge that will help in the creation of a new product or service

Answer 16

knowledge-based concepts

Question 17

Enumerate the Creative Learning Process

Answer 17

Sources of Innovative Ideas
Education and Work experience
New venture actula opportunities

Question 18

It requires systematic analysis to transform innovative ideas into actual practice.

Answer 18

creative thinking

Question 19

approach or strategy that you are going to use to solve; who will decide what approach will be used to the…

Answer 19

process

Question 20

it refers to the personnel, resources who chooses which to take to solve the problem; who will implement that will result to solving an efficient problem

Answer 20

people

Question 21

Approaches to Creative Problem Solving:

• Employs disciplined, precise, methodical approach
• Concerned with solving, rather than finding, problems
• Attempts to refine current practices
• Tends to be means oriented
• Capable of extended detailed work
• Sensitive to group cohesion and cooperation

Answer 21

Adaptive entrepreneurs

Question 22

Approaches to Creative Problem Solving:

• Approaches tasks from unusual angles
• Discovers problems and avenues of solutions
• Questions basic assumption related to current practices
• Interested more in ends than the means
• Little tolerance for routine work
• Has little or no need for consensus; often insensitive to others

Answer 22

Innovative entrepreneurs

Question 23

T or F. For creativity to occur, chaos is not necessary.

Answer 23

F (structured and focused chaos)

Question 24

What phase is this?

• investigation and information gathering
• extensive reading
• attendance at professional meetings
• conversation with experts
• general absorption of information relative to the problem

Answer 24

1

Question 25

What phase is this? Tutoy went to join professional groups and associations, today. And tomorrow, he weill travel to new places and devote time to pursue natural curiosities while using his notebook.

Answer 25

1 bano

Question 26

identify what phase: creative individuals allow their subconscious to mull over tremendous amounts of information gathered; it often occurs while they are engaged in activities totally unrelated to the subject or problem.

Answer 26

The incubation process (2)

Question 27

This phase happens even when they are sleeping.

Answer 27

The incubation process (2)

Question 28

this process is often the most exciting; sometimes referred to as the eureka factor; this is also the one the average person incorrectly percieves as the only component of creativity

Answer 28

Phase 3: The idea experience

Question 29

T or F. Like the incubation phase, the FIRST phase gets new and innovative ideas that often emerge while the person is busy doing something unrelated to the enterprise, venture, or investigation.

Answer 29

F (THIRD phase)

Question 30

this phase is the most difficult phase that requires a great deal of courage, self-discipline, and perseverance; reworking of ideas to put them to their final form

Answer 30

Phase 4: Evaluation and Implementation

Question 31

this is an old-school way to drum up creative ideas and solve problems; but by far the best;

Answer 31

Brainstorm

Question 32

T or F. In brainstorming, you can criticize and remove the off-the wall ideas.

Answer 32

F (cannot criticize; welcome wall ideas)

Question 33

putting two nonsensical things together to see what happens

Answer 33

synectics or opposite attracts

Question 34

a playground where business people, entrepreneurs, and the like can go to escaped the humdrum environment of offices and can't doers

Answer 34

THINKubate

Question 35

who created the THINKubate

Answer 35

Gerald Haman

Question 36

What happens when you use/look at abstract photos, inspiring quotes, uncompleted ideas, tips, and so on.

Answer 36

Trigger great ideas

Question 37

Humor is the great way to relieve stress;

Answer 37

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Question 38

In developing your creativity, dreams are a great place to start whe it comes to unleashing creativity

Answer 38

Remember, you wildest dreams

Question 39

T or F. Either/ Or Thinking causes people often to get bogged down with striving for an unreasonable amount of certainty in their lives. But the creative person learns to accept a reasonable amount of ambiguity in his/her work and life.

Answer 39

T

Question 40

Many people try to make the right decision oe take the correct action every time. In doing so, they rely on averages, stereotypes and probability theory to minimize their risks.

Answer 40

Security hunting

Question 41

it's fabricated abstractions, people act and make decisions based on them as if these were data entities that exist in the real world

Answer 41

stereotype

Question 42

An overreliance on this decision-making method, however, can distort reality and prohibit one from taking calculated risks that may lead to creative endeavors.

Answer 42

probability thinking

Question 43

Which of the following is not an activity to boost your creativity: A. Synectics thinking B. Recall your Wildest Dream C. Sweat It D. THINKubate E. Practice taking small risks

Answer 43

E

Question 44

Who suggested that there are people that often do not recognize when they are being creative; and that the path to creativity begins by first recognizing all of the ways in which we are and can be creative.

Answer 44

Researcher William Miller

Question 45

thinking up a new idea or concept, such as an idea for a new product or service

Answer 45

idea creativity

Question 46

inventing and building a tangible object

Answer 46

material creativity

Question 47

process by which entrepreneurs convert opportunities (ideas) into marketable solutions

Answer 47

innovation

Question 51

organizing people or projects and coming up with a new organizational form or approach to structuing things

Answer 51

organization creativity

Question 52

innovative approach to achieving collab, cooperation, and win-win relationships with others.

Answer 52

relationship creativity

Question 53

producing an event such as an awards ceremony, team outing, or annual meeting. It encompasses decor, ways in which people are involved, sequence of happenings, setting and so forth.

Answer 53

event creativity

Question 54

being open to new approaches to how one does things and thinking about oneself in different ways; achieving a change of heart or finding new ways to look at things that is a significant departure from how one has traditionally looked at them

Answer 54

inner creativity

Question 55

acting in a spontaneous or spur-of the moment manner, such as coming up with a witty response in a meeting

Answer 55

spontaneous creativity

Question 56

T or F. Enterprise will have creative owners or managers for long if the right climate is not established and nurtured.

Answer 56

F

Question 57

Who said this? Innovation is the specific function of entrepreneurship.

Answer 57

Peter F. Drucker

Question 58

T or F. Successful innovations use both the right and left side of their brains.

Answer 58

F (innovators)

Question 59

T or F. Most innovations result from a conscious and purposeful search for new opportunities.

Answer 59

T

Question 60

T or F. Successful innovations often involves more work than genius

Answer 60

T

Question 61

T or F. Successful innovators globally work out what the innovation has to be

Answer 61

F (Analytically)

Question 62

the creation of a new product, service or process - often one that is novel or untried; such concepts tend to be revolutionary

Answer 62

invention

Question 63

the expansion of a product or process already in existence

Answer 63

extension

Question 64

replication of an existing product/service

Answer 64

duplication

Question 65

T or F. The duplication effort, however is not simply copying but adding the entrepreneur's own creative touch to enhance or improve the concept and beat the competition.

Answer 65

T

Question 66

combination of existing concepts and factors into a new formulation; taking a number of ideas and finding a way that they can form a new application

Answer 66

synthesis

Question 67

principle: always active and searching for new ideas

Answer 67

be action oriented

Question 68

principle: people must readily understand how it works

Answer 68

simple and understandable

Question 69

principle: keeping the customer in mind; has the end user in mind

Answer 69

customer based

Question 70

principle: do not attempt at a grandiose scale

Answer 70

start small

Question 71

principle: helps work out any flaws in the product, process or service

Answer 71

try/test/revise