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Entrepreneurship ENT3613 Module 1
Terms in this set (30)
Where do people create value with creativity and entrepreneurship problem solving methods?
In startups as well as established organizations
Creativity is most usefully defined as a
domain-specific attribution of the relative novelty and value of a particular solution.
Nora created a successful startup venture by selling exotic scarves that were very common in Croatia to people in Chicago who were unfamiliar with the designs and, therefore, considered them to be creative. Which of the following aspects of defining creativity is most important to understanding Nora's success in this example?
Creativity needs to be assessed at a particular point in time in a particular task domain
Creativity is best thought of as
an intangible, subjective attribute of an idea or solution.
What is the most effective and popular means of measuring creativity in professional settings?
Soliciting groups of experts from a particular task domain
What are the primary criteria that people use to attribute "creativity" to an idea or solution?
Novelty and value
What is the most useful thing to consider when making creativity assessments?
Paula thought she had a creative idea for an app that could help UCF students find parking, but discovered that UCF already provides an app for that. Which of the following issues related to assessing creativity is addressed by this example?
Creativity assessments must consider the history of solutions in a particular context
The biggest difference between creative solutions and innovations is that
innovations are intended to be adopted by other people.
A process of designing, implementing and sustaining business models that create value by diffusing innovations is best described as
A creative solution that is intended to be adopted by others and diffused to different settings is best described as
A temporary organization used to search for repeatable and scalable business models is best described as
The possibility of introducing an innovation to a specific market at a profit is best described as
Which of the following is NOT one of the ways that entrepreneurs create value?
Which of the following is NOT one of the three things commonly attributed to entrepreneurs?
Entrepreneurs create most new ideas
Oswego Outerwear recently implemented automated stitching and pressing machines that allowed them to reduce their workforce and move to a smaller facility. Process innovations like this are common strategies entrepreneurial leaders may use to make their offerings
Innovation may make it possible for all firms in an industry to improve their products, services, and efficiency. When this happens innovators expand an industry's
Darwinian evolution processes derived from biology have been served as analogies for creativity, innovation, and business strategy for decades. One implication of adopting this analogy is that it emphasizes that
creativity is competitive, and new solutions make render existing solutions obsolete.
Dr. William Green from the University of Miami suggests that everyone should learn entrepreneurial methods by describing entrepreneurship as a
form of social responsibility.
Entrepreneurial leaders use methods that help them pursue creative ideas even when they lack authority or have necessary resources. Those who pursue creative ideas who DO have authority and necessary resources would typically be characterized as
Jessica recently accepted an entry level position at a social media marketing company but was able to get her company to invest in a new staffing initiative she created by presenting and justifying her idea. This example best illustrates which of the following benefits of developing an entrepreneurial mindset?
Lead when you are not a leader
One description of entrepreneurship characterizes it as a method of human action, as important as democracy or science, that can be learned as
a logical form of reasoning and problem solving.
A popular, concise definition of entrepreneurial leadership that clearly distinguishes it from traditional management or administration describes entrepreneurship as
the pursuit of opportunity beyond resources controlled.
Considering a creative action cycle as a way of understanding creative and entrepreneurial leadership highlights the interdependence among
learning, imagining, creating, acting, and judgment.
Considering a creative action cycle as a way of understanding creative and entrepreneurial leadership highlights the importance of
acting on creative ideas and learning from the consequences of those actions.
An entrepreneurial process that involves getting other involved through help-seeking, storytelling and partnering is
Although they represent a relatively small proportion of new companies, most venture capital and a substantial amount of job creation can be attributed to
According to the Techstar's video describing entrepreneurial journeys, and their efforts to support entrepreneurship, what is the final step that happens in an entrepreneur's journey?
At any moment, over 10 million people in the United States are taking steps to launch a new business venture. These people are described as
Conceptual organizing processes are especially important early in an entrepreneurial journey when trying to reach the organizing milestone of
articulating a value proposition.
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