1.
The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called:
Correct Answer
C. Creativity
Explanation
Creativity refers to the ability to generate new and original ideas, as well as to think outside the box. It involves the capacity to come up with innovative solutions, perspectives, and approaches to problems and opportunities. Entrepreneurship and innovation are closely related to creativity, as they both require thinking creatively in order to identify and capitalize on new business ideas and opportunities. Creative thinking is a fundamental aspect of entrepreneurship and innovation, as it enables individuals to challenge traditional norms and find unique and inventive ways to address challenges and create value.
2.
Harval's Ted Levih says that creativity is (.....) new things and innovation is (.......) new things
Correct Answer
A. Thinking , doing
Explanation
The correct answer is "thinking, doing". According to Harval's Ted Levih, creativity involves generating new ideas and thinking outside the box, while innovation is the process of implementing those ideas and bringing them into reality. Therefore, creativity is associated with thinking, and innovation is associated with taking action and doing.
3.
(.....) is necessary for building a competitive advantage and for business survival
Correct Answer
C. Creativity
Explanation
Creativity is necessary for building a competitive advantage and for business survival because it allows businesses to differentiate themselves from competitors and come up with innovative solutions. Creative thinking enables businesses to develop unique products, services, and marketing strategies that can attract customers and stand out in the market. It also helps businesses adapt to changing market conditions and find new opportunities for growth. Without creativity, businesses may struggle to stay relevant, compete effectively, and meet the evolving needs and preferences of customers.
4.
Innovation is the ability to develop new ideas and to discover new ways of looking at problems and opportunities
Correct Answer
B. False
Explanation
The statement defines innovation as the ability to develop new ideas and discover new ways of looking at problems and opportunities. This definition is correct, so the answer is false.
5.
Creativity innovation are the signature of large entrepreneurial business
Correct Answer
B. False
Explanation
The statement suggests that creativity and innovation are the signature of large entrepreneurial businesses. However, this statement is false. While creativity and innovation are important aspects of entrepreneurship, they are not exclusive to large businesses. In fact, small and medium-sized enterprises (SMEs) often thrive on their ability to be creative and innovative in order to compete with larger competitors. Therefore, creativity and innovation can be found in businesses of all sizes, not just large entrepreneurial ones.
6.
For every 5000 to 10000 new drug discoveries , only about five make it clinical trials and only one typically gets to the market
Correct Answer
A. True
Explanation
The statement is true because the process of developing a new drug involves multiple stages, including discovery, preclinical testing, clinical trials, and regulatory approval. Out of the thousands of potential drug candidates that are initially discovered, only a small percentage successfully progress through each stage of development. This is due to various factors such as safety concerns, lack of efficacy, or inability to meet regulatory requirements. Therefore, it is accurate to say that only a few out of thousands of new drug discoveries ultimately make it to clinical trials and even fewer reach the market.
7.
Creativity often involves creating something from nothing. However, it is more likely to
result in..........
Correct Answer
D. All of the above
Explanation
Creativity can manifest in various ways, including elaborating on the present, putting old things together in new ways, and simplifying or improving by taking something away. When creating something from nothing, individuals often draw inspiration from their surroundings and existing concepts. Elaborating on the present involves expanding and enhancing existing ideas, while combining old things in new ways can lead to innovative and unique creations. Additionally, simplifying or improving by removing elements can result in a more refined and effective outcome. Therefore, all of the given options accurately describe the potential outcomes of creativity.
8.
History is always a reliable predictor of the future of business.
Correct Answer
B. False
Explanation
History is not always a reliable predictor of the future of business because the business landscape is constantly evolving and subject to various external factors such as technological advancements, changes in consumer behavior, and economic fluctuations. While studying historical trends and patterns can provide valuable insights, it is not a guarantee that the same strategies or approaches will be successful in the future. Businesses need to adapt and innovate to stay competitive in an ever-changing market.
9.
The right brain is guided by..............
Correct Answer
A. Kaleidoscopic, lateral thinking
Explanation
The right brain is associated with kaleidoscopic, lateral thinking. This type of thinking involves creativity, intuition, and the ability to see multiple perspectives. It allows for non-linear and innovative problem-solving, as well as the ability to think outside the box. This type of thinking is often associated with artistic and creative abilities.
10.
Which hemisphere of the brain processes information in a step-by-step fashion?
Correct Answer
B. Left hemispHere
Explanation
The left hemisphere of the brain processes information in a step-by-step fashion. This hemisphere is responsible for logical reasoning, analytical thinking, and language processing. It is known to be more linear and sequential in its processing, making it well-suited for tasks that require following a specific order or sequence of steps. In contrast, the right hemisphere is associated with creativity, intuition, and holistic thinking, processing information in a more holistic and simultaneous manner.
11.
Successful entrepreneurship requires left-brain thinking.
Correct Answer
B. False
Explanation
The statement suggests that successful entrepreneurship requires left-brain thinking. However, this is not entirely accurate. Successful entrepreneurship requires a combination of both left-brain and right-brain thinking. While left-brain thinking is associated with logical and analytical skills, right-brain thinking is associated with creativity and innovation. Entrepreneurs need to be able to think critically and strategically (left-brain), but also come up with unique ideas and solutions (right-brain). Therefore, both types of thinking are essential for success in entrepreneurship.
12.
The left brain relies on kaleidoscopic, lateral thinking.
Correct Answer
B. False
Explanation
The statement contradicts the known functions of the left brain. The left brain is typically associated with logical and analytical thinking, while the right brain is associated with creativity and lateral thinking. Therefore, the statement that the left brain relies on kaleidoscopic, lateral thinking is false.
13.
Trade dress is the unique combination of elements that a company uses to create a product's
image and to promote it.
Correct Answer
A. True
Explanation
Trade dress refers to the visual appearance of a product or its packaging, including the design, shape, color, and overall image. It is a way for a company to establish a distinctive identity and create brand recognition among consumers. By using specific elements, a company can differentiate its product from competitors and promote it effectively. Therefore, the statement "Trade dress is the unique combination of elements that a company uses to create a product's image and to promote it" is true.
14.
Copyrights protect the creator of original works such as ________.
Correct Answer
A. Software, choreograpHy, and motion pictures
Explanation
Copyrights protect the creator of original works such as software, choreography, and motion pictures. This means that the creators of these works have exclusive rights to reproduce, distribute, and display their creations. These rights prevent others from copying or using these works without permission, ensuring that the creators have control over their intellectual property.
15.
More than ________ percent of those holding patents win their infringement suits.
Correct Answer
D. 66
Explanation
The correct answer is 66. This means that more than 66% of those holding patents are successful in winning their infringement suits. This indicates a high success rate for patent holders in protecting their intellectual property rights.
16.
Force-field analysis is a useful technique for evaluating the forces that support and oppose a
proposed change.
Correct Answer
A. True
Explanation
Force-field analysis is a technique used to assess the factors that either support or hinder a proposed change. It helps identify the driving forces that promote change and the restraining forces that oppose it. By analyzing these forces, organizations can better understand the potential challenges and opportunities associated with a change initiative. Therefore, the statement "Force-field analysis is a useful technique for evaluating the forces that support and oppose a proposed change" is true.
17.
Steps in the patent process include ________.
Correct Answer
D. All of the above
Explanation
The correct answer is "All of the above" because the steps in the patent process include establishing whether the idea is a novelty, documenting and verifying the date the idea was first conceived, and searching existing patents. These steps are essential in determining the originality and eligibility of an idea for patent protection.
18.
During a brainstorming session, company rank and department affiliation are irrelevant.
Correct Answer
A. True
Explanation
During a brainstorming session, company rank and department affiliation are irrelevant because the purpose of brainstorming is to generate creative ideas and solutions without any hierarchical or departmental constraints. In this session, all participants are encouraged to freely express their thoughts and contribute to the discussion, regardless of their position or department within the company. This allows for a more inclusive and diverse range of ideas to be considered, fostering innovation and collaboration.
19.
The premise behind ________ is that transforming an idea into an actual model will lead to
improvements in its design.
Correct Answer
A. Rapid prototyping
Explanation
Rapid prototyping is based on the belief that creating a physical model of an idea will result in enhancements to its design. This approach allows designers to quickly visualize and test their concepts, identify any flaws or areas for improvement, and make necessary adjustments before finalizing the design. By rapidly iterating through different prototypes, designers can refine their ideas and ultimately create a more effective and efficient final product.
20.
Effective brainstorming involves all of the following except ________.
Correct Answer
C. An effective method to evaluate ideas
Explanation
Effective brainstorming involves a small group of people, an open, uninhibited environment, and very little structure. The purpose of brainstorming is to generate as many ideas as possible without judgment or evaluation. The focus is on quantity rather than quality. Therefore, an effective method to evaluate ideas would be contradictory to the essence of brainstorming, as it would introduce a critical element that inhibits the free flow of ideas.
21.
"Divergent thinking" is the ability to see similarities and connections among various data and
events.
Correct Answer
B. False
Explanation
Divergent thinking is actually the ability to generate multiple ideas or solutions to a problem. It involves thinking outside the box and exploring different possibilities. It is not specifically about seeing similarities and connections among data and events. Therefore, the correct answer is false.
22.
Which stage of the creative process includes on-the-job training?
Correct Answer
B. Preparation
Explanation
The stage of the creative process that includes on-the-job training is the Preparation stage. This stage involves gathering information, conducting research, and acquiring the necessary skills and knowledge to execute the creative idea effectively. On-the-job training refers to the hands-on experience and learning that takes place while actually performing the tasks related to the creative project. It helps individuals gain practical skills and insights that can enhance their ability to implement their creative ideas successfully.
23.
Employees tend to rise or fall to the level of expectations entrepreneurs have of them.
Correct Answer
A. True
Explanation
This statement suggests that employees' performance is influenced by the expectations set by entrepreneurs. If entrepreneurs have high expectations of their employees, they are more likely to rise to meet those expectations. On the other hand, if entrepreneurs have low expectations, employees may not feel motivated to perform at their best. Therefore, the statement implies that entrepreneurs play a significant role in shaping the performance and success of their employees.
24.
Left-brained individuals realize that there may be more than one right answer.
Correct Answer
B. False
Explanation
Left-brained individuals are known to be more logical and analytical, focusing on details and facts. They tend to prefer clear-cut answers and may struggle with ambiguity or multiple possibilities. Therefore, it is unlikely that left-brained individuals would readily accept the idea that there may be more than one right answer. Hence, the correct answer is False.
25.
Failure is an important part of the creative process, as it provides a chance to learn how to
succeed.
Correct Answer
A. True
Explanation
Failure is an important part of the creative process because it allows individuals to learn from their mistakes and find better ways to succeed. When someone fails, they are forced to reflect on what went wrong and identify areas for improvement. This process of learning from failure can lead to innovative ideas and approaches that may not have been discovered otherwise. By embracing failure as a learning opportunity, individuals can grow and develop their creative skills, ultimately increasing their chances of success in future endeavors.
26.
The ________ environment has an impact on the level of people's creativity.
Correct Answer
A. pHysical
Explanation
The physical environment refers to the tangible aspects of our surroundings, such as the layout, design, and resources available in a space. This environment has a direct impact on people's creativity because it can either enhance or hinder their ability to think creatively. For example, a well-lit and spacious workspace with comfortable furniture and inspiring artwork can promote creativity, while a cluttered and noisy environment can be distracting and limit creative thinking. Therefore, the physical environment plays a crucial role in shaping the level of people's creativity.
27.
Research shows that not everyone can be creative.
Correct Answer
B. False
Explanation
Research actually shows that everyone has the potential to be creative. While some individuals may have more natural talent or inclination towards creativity, it is a skill that can be developed and nurtured in anyone. Creativity is not limited to a select few, but rather it is a trait that can be cultivated through practice, exploration, and open-mindedness. Therefore, the statement that not everyone can be creative is false.
28.
Which stage of the creative process requires one to develop a solid understanding of the
problem or decision?
Correct Answer
A. Investigation
Explanation
The stage of the creative process that requires one to develop a solid understanding of the problem or decision is investigation. This stage involves gathering information, conducting research, and analyzing data to gain a comprehensive understanding of the problem at hand. It is crucial to investigate and gather all relevant information before proceeding with the creative process to ensure that the subsequent stages are based on a solid foundation of knowledge and understanding.
29.
Ambiguity tends to destroy creativity.
Correct Answer
B. False
Explanation
The statement "Ambiguity tends to destroy creativity" is not correct. In fact, ambiguity can often stimulate creativity as it encourages individuals to think outside the box and come up with innovative solutions. When faced with ambiguity, people are forced to explore different possibilities and perspectives, leading to the generation of new ideas. Therefore, the correct answer is False.
30.
Entrepreneurship requires both left- and right-brained thinking.
Correct Answer
A. True
Explanation
Entrepreneurship involves a combination of logical and analytical thinking (left-brained) as well as creative and intuitive thinking (right-brained). Successful entrepreneurs need to be able to analyze data, make strategic decisions, and solve problems (left-brained), while also being innovative, adaptable, and able to think outside the box (right-brained). This balance between logical and creative thinking is crucial for identifying opportunities, developing innovative solutions, and effectively managing and growing a business. Therefore, it can be concluded that entrepreneurship does require both left- and right-brained thinking.