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Customers generally view a new company negatively if it imitates established
companies and practices in the industry.
The SCAMPER tool is based on the work of Alex Osborne.
A knowledge society is one that has migrated from work based on knowledge to one
based on manual work.
The following sentence contains a redundant word. Please repeat again the question.
A license is a legal agreement that grants rights to use a particular piece of intellectual
property.
The feasibility of an idea is the extent to which it is viable and realistic.
Redundancies increase the effectiveness of business messages.
Taking an idea and offering a way to do something slightly better than it is done
presently refers to a(n):
A. imitative strategy.
B. incremental strategy.
C. status quo strategy.
D. innovative strategy.
Choose the transitional word that best fits the following sentence. Alices grades have to
be high; _____ she will not get the scholarship.
A. otherwise
B. however
C. moreover
D. therefore
E. likewise
ASQ, ISM, APICS, and PMI are important professional organizations to operations
management because
A) they provide certification for professionals
B) they allow professionals to keep up with industry developments
C) they facilitate professional networking
D) none of the above
E) all of the above
When a person happens to be at the right place at the right time resulting in a successful
business idea, which of the following would be considered to be the factor that led to
the business idea?
A. Family and friends
B. Education and expertise
C. Serendipity
D. Personal interest
_____ is a payment to a licensor based on the number or value of licensed items sold.
A. Milestone payment
B. Lump sum payment
C. Royalty
D. Pay-off
As a part of her I2P analysis, Amanda conducted a survey in which she asked her
potential consumers about their interests. She did the survey to match market demand to
a new product idea she has. Amanda addresses which of the following aspects of the
I2P analysis?
A. The novelty of the product
B. The extent of IP protection for the idea
C. The reasons for customers to buy the product
D. The royalty that the product is likely to generate
A swimming pool company has 100,000 labor hours available per summer and with a
labor productivity of 5 pools per 6,000 hours.
a. How many pools can the company install this summer?
b. Suppose the multifactor productivity was one pool per $25,000. How much should
the company expect to spend this summer constructing the pools?
The Dulac Box plant produces 500 cypress packing boxes in two 10-hour shifts. What
is the productivity of the plant?
A) 25 boxes/hr
B) 50 boxes/hr
C) 5000 boxes/hr
D) none of the above
E) not enough data to determine productivity
According to Graham Wallas description of the creative process, which of the following
is true of the incubation stage of a creative thought?
A. It involves exploring the problem or opportunity in all directions.
B. It involves the flow of ideas.
C. It involves the testing of the idea.
D. It involves putting the problem on the back burner.
A _____ is a legal agreement that grants the rights to use a particular piece of
intellectual property.
A. codicil
B. franchise
C. writ
D. license
According to a majority of entrepreneurs in the Panel Study of Entrepreneurial
Dynamics (PSED), which of the following is the most frequently mentioned source of
business ideas?
A. Discussion with potential investors
B. Education and expertise
C. Family and friends
D. Work experience
As a part of her I2P analysis, Amanda conducted a survey in which she asked her
potential consumers about their interests. She did the survey to match market demand to
a new product idea she has. Amanda addresses which of the following aspects of the
I2P analysis?
A. The novelty of the product
B. The extent of IP protection for the idea
C. The reasons for customers to buy the product
D. The royalty that the product is likely to generate
According to the Panel Study of Entrepreneurial Dynamics (PSED), a majority of
entrepreneurs indicated that:
A. the decision to start a business came first.
B. the business idea came first.
C. the idea and decision were simultaneous.
D. starting a business is a loss-making proposition.
Which of the following sentences illustrates faulty parallelism?
A. The package was wrapped with care and with precision.
B. The package was wrapped carefully and with precision.
C. The package was wrapped precisely and beautifully.
D. The package was wrapped carefully and beautifully.
E. The package was wrapped carefully and precisely.
Which productivity variable has the greatest potential to increase productivity?
A) labor
B) globalization
C) management
D) capital
E) none of the above
Which of the following sentences uses a cluttering phrase?
A. At that point in time when Bella was a student, she learnt the nuances of cooking.
B. Swimming and fishing are my favorite summer activities.
C. We were talking about favorite sport, when I mentioned that mine was basketball.
D. I outlined the report slowly and carefully.
E. How long have you been exercising in the gym?
Which of the following is the best example of a pure service?
A) counseling
B) oil Change
C) heart transplant
D) electric Co-Op
E) all of the above
Define opportunity recognition and entrepreneurial alertness.
Elucidate the relationship between innovation and entrepreneurship.
Describe the SCAMPER tool. How does it help entrepreneurs identify new
opportunities?
Define operations management. Will your definition accommodate both manufacturing
and service operations?
Operations managers should be well versed in what disciplines in order to make good
decisions?
Calculate BCFs Days of Cash on Hand for 2010 and 2009. Is the trend favorable? Most
nonprofit financial experts suggest that organizations maintain 2-3 months of cash on
hand for emergencies. How does this ratio compare to this rule of thumb?
How can business ideas be screened for their viability?
