Chapter 2 Homework Essentials of Entrepreneurship & Small Business Mgmt., 7e (Scarborough) Inside the Entrepreneurial Mind: From Ideas to Reality ALL ANSWERS 100% CORRECT SPRING FALL-2022 LATEST GUARANTEED GRADE A+

1) The ability to develop new ideas and to discover new ways of looking at problems and opportunities is called: A) entrepreneurship. B) innovation. C) creativity. D) creative thinking. Answer: C Diff: 1 Page Ref: 40 AACSB: Reflective Thinking Learning Obj.: 1 2) An entrepreneurial "secret" for creating value in the marketplace is: A) applying creativity and innovation to solve problems. B) creating new products and services. C) learning by doing. D) applying lessons learned from history. Answer: A Diff: 2 Page Ref: 40-41 AACSB: Analytic Skills Learning Obj.: 1 3) The ability to apply creative solutions to problems and opportunities to enhance or to enrich people's lives is called: A) entrepreneurship. B) innovation. C) creativity. D) creative thinking. Answer: B Diff: 1 Page Ref: 40 AACSB: Reflective Thinking Learning Obj.: 1 4) Harvard's Ted Levitt says that creativity is new things, and innovation is new things. A) thinking; doing B) doing; thinking C) seeing; doing D) thinking; applying Answer: A Diff: 2 Page Ref: 40 AACSB: Reflective Thinking Learning Obj.: 1 5) Entrepreneurship is a constant process that relies on: A) creativity, innovation, and profit. B) the ability to win over the consumer. C) creativity, innovation, and application in the marketplace. D) intellectual property rights. Answer: C Diff: 3 Page Ref: 40-41 AACSB: Reflective Thinking Learning Obj.: 1 6) is necessary for building a competitive advantage and for business survival. A) One single idea B) A motivated owner C) Creativity D) A low-priced product Answer: C Diff: 1 Page Ref: 42 AACSB: Reflective Thinking Learning Obj.: 2 7) Creativity often involves creating something from nothing. However, it is more likely to result in: A) elaborating on the present. B) putting old things together in new ways. C) taking something away to create something simpler or better. D) All of the above Answer: D Diff: 3 Page Ref: 42 AACSB: Reflective Thinking Learning Obj.: 2 8) When developing creative solutions to modern problems, entrepreneurs must: A) go beyond merely using whatever has worked in the past. B) limit the creative process to only profitable ventures. C) remember what has worked in the past. D) pay attention to limiting factors. Answer: A Diff: 2 Page Ref: 40-41 AACSB: Reflective Thinking Learning Obj.: 2 9) Research shows that anyone can learn to be creative. The problem is: A) many organizations fail to foster an environment that encourages creativity. B) most people never tap into their pools of innate creativity. C) most people have never been taught to be creative. D) All of the above Answer: D Diff: 2 Page Ref: 42 AACSB: Analytic Skills Learning Obj.: 2 10) Research into the operation of the human brain shows that each hemisphere of the brain: A) develops symmetrically. B) controls similar functions. C) does not dominate the other hemisphere. D) processes information differently. Answer: D Diff: 2 Page Ref: 44 AACSB: Analytic Skills Learning Obj.: 3 11) The left brain is guided by: A) kaleidoscopic, lateral thinking. B) linear, vertical thinking. C) asymmetrical thinking. D) intuitive thinking. Answer: B Diff: 2 Page Ref: 44 AACSB: Reflective Thinking Learning Obj.: 3 12) The right brain is guided by: A) kaleidoscopic, lateral thinking. B) linear, vertical thinking. C) asymmetrical thinking. D) logical thinking. Answer: A Diff: 2 Page Ref: 44 AACSB: Reflective Thinking Learning Obj.: 3 13) Which hemisphere of the brain is responsible for language, logic, and symbols? A) Right hemisphere B) Left hemisphere C) Lateral hemisphere D) Intuitive hemisphere Answer: B Diff: 1 Page Ref: 44 AACSB: Analytic Skills Learning Obj.: 3 14) Which hemisphere of the brain is responsible for the body's emotional, intuitive, and spatial functions? A) Right hemisphere B) Left hemisphere C) Vertical hemisphere D) Logical hemisphere Answer: A Diff: 1 Page Ref: 44 AACSB: Analytic Skills Learning Obj.: 3 15) Which hemisphere of the brain processes information in a step-by-step fashion? A) Right hemisphere B) Left hemisphere C) Lateral hemisphere D) Intuitive hemisphere Answer: B Diff: 2 Page Ref: 44 AACSB: Analytic Skills Learning Obj.: 2 16) Which hemisphere of the brain processes information all at once and by relying heavily on images? A) Right hemisphere B) Left hemisphere C) Vertical hemisphere D) Logical hemisphere Answer: A Diff: 2 Page Ref: 44 AACSB: Analytic Skills Learning Obj.: 3 17) vertical thinking is narrowly focused and systematic, proceeding in a highly logical fashion from one point to the next. A) Left-brained B) Right-brained C) Unconventional D) Intuitive Answer: A Diff: 2 Page Ref: 44-46 AACSB: Analytic Skills Learning Obj.: 3 18) lateral thinking is somewhat unconventional and unstructured. A) Left-brained B) Right-brained C) Systematic D) Logical Answer: B Diff: 2 Page Ref: 44-46 AACSB: Analytic Skills Learning Obj.: 3 19) All of the following represent barriers to creativity that entrepreneurs impose upon themselves except: A) focusing on being too logical. B) being too practical. C) blindly following rules. D) searching for more than one answer. Answer: D Diff: 2 Page Ref: 48--51 AACSB: Reflective Thinking Learning Obj.: 4 20) Entrepreneurs can stimulate their own creativity and encourage it among workers by: A) expecting and tolerating failure. B) avoiding problems. C) limiting rewards. D) not taking chances. Answer: A Diff: 2 Page Ref: 54 AACSB: Reflective Thinking Learning Obj.: 5