16 Questions
What is the process of generating a novel or useful idea called?
Creativity
What is innovation about?
Converting ideas into business opportunities
What is the role of preparation in the opportunity recognition process for an entrepreneur?
Bringing knowledge to the recognition process
What are some areas where 21st-century innovations will increasingly involve?
Globalization, artificial intelligence, and Internet of Things
What is the act of turning new and imaginative ideas into reality called?
Innovation
What does creativity involve doing with existing ideas in a unique way?
Synthesizing them into a novel idea
What is the incubation stage of the creative process?
The stage when a person considers an idea or thinks about a problem
What characterizes the insight stage of the creative process?
The moment an entrepreneur recognizes an opportunity
What occurs during the evaluation stage of the creative process?
The stage of the creative process when an idea is subjected to scrutiny and analyzed for its viability
Which type of innovation involves small improvements or upgrades made to a company’s existing products, services, processes or methods?
Incremental innovation
What is the nature of technological innovation?
It explains the nature and rate of technological change
What characterizes breakthrough innovation?
It serves as the basis for further innovation in an area
When does the elaboration stage occur in the creative process?
When the creative idea is put into a final form
What happens during incubation in the creative process?
The stage when a person considers an idea or thinks about a problem
Which innovation type involves providing greater efficiency or cost-effectiveness to a current process or product?
Breakthrough Innovation
What should entrepreneurs do at the evaluation stage of the creative process?
Subject an idea to scrutiny and analyze its viability
Test your knowledge about creativity and innovation with this quiz focusing on the process of generating novel ideas and converting them into business opportunities. Explore the synthesis of existing ideas, turning imaginative ideas into reality, and the entrepreneurial process of innovation.
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