Sandra has a product idea. She has researched about all the competing products and the
companies that produce them. The research helps Sandra to address which of the
following aspects of the I2P analysis?
A. The market and its size
B. The extent of IP protection for the idea
C. The initial set of customers
D. The royalty that the product is likely to generate
Where there are competing products in a particular market, entrepreneurs can get an
idea of the market size.
The firm that obtains the rights to use a particular piece of intellectual property is
referred to as the:
A. franchisee.
B. licensee.
C. obligor.
D. assignor.
_____ refers to searching and capturing new ideas that lead to business opportunities.
A. Opportunity charging
B. Entrepreneurial alertness
C. Opportunity recognition
D. Opportunity encryption
Using paradoxes such as using stimulants to calm hyperactive children, to challenge old
ways of thinking, refers to which of the following cues of the SCAMPER tool?
A. Minimize
B. Saturate
C. Restitute
D. Rearrange
Identify the dependent clause in the following sentence. When the teacher yelled, the
students came rushing to the class.
A. The students
B. When the teacher yelled
C. Came rushing to the class
D. The students came rushing to the class
E. The teacher
There is much a small business can do to create memorable images and advertising for
itself, and it does not need expensive television ads to do it. Which element of
SCAMPER is being referred to here?
A. Magnify
B. Saturate
C. Correlate
D. Put to other use
A basic technique for shortening sentences is to:
A. avoid active verbs.
B. use cluttered phrases.
C. use the active voice instead of the passive voice.
D. use roundabout constructions.
E. use words economically.
Which of the following are the primary functions of all organizations?
A) production/operations, marketing, and human resources
B) marketing, human resources, and finance/accounting
C) sales, quality control, and production/operations,
D) marketing, production/operations, and finance/accounting
E) research and development, finance/accounting, and purchasing
The service sector has lower productivity improvements than the manufacturing sector
because
A) the service sector uses less skilled labor than manufacturing
B) the quality of output is lower in services than manufacturing
C) services usually are labor-intensive
D) service sector productivity is hard to measure
E) none of the above
Which of the following questions in a typical I2P analysis provides a simple and
nontechnical description of the product?
A. How is your product better than your competitors?
B. What is your product or idea?
C. Why will customers buy your product?
D. What is the market and its size for your product?
Firm A operates 10 hours each day, producing 100 parts/hour. If productivity were
increased 20%, how many hours would the plant have to work to produce 1000 parts?
A) less than 2 hours
B) between 9 and 10 hours
C) between 2 and 6 hours
D) between 6 and 8 hours
E) between 8 and 9 hours
Which of the following is not a current trend in operations management?
A) just-in-time performance
B) global focus
C) supply-chain partnering
D) mass customization
E) All of the above are current trends.
If entrepreneurs realize that all the traditional applications for their products have
disappeared and that they have surplus products, which of the following elements of the
SCAMPER tool are they most likely to employ?
A. Sectionalize
B. Put to other uses
C. Eliminate
D. Restitute
Born and raised in India, Rashmi has always enjoyed Indian cooking. As a matter of
fact, cooking was her passion and she always enjoyed reading, learning, and
experimenting with different ethnic cuisines. Ever since Rashmis family moved to the
United States, her cousins, friends, and other people at dinner gatherings have always
commented that Rashmi should start a catering business. Realizing that her American
friends may not be able to handle or like the Indian food because of its spiciness,
Rashmi decided to make changes to the recipes to suit the local taste. Rashmi is
seriously contemplating whether she should start a catering business-Tastes of India.
Rashmi appears to be applying which element of the SCAMPER tool in her
entrepreneurship ideas?
A. Modify
B. Substitute
C. Restitute
D. Eliminate