Title | ET0001 Innovation Sequence 4 answers |
---|---|
Author | Amon Gus |
Course | Enterprise & Innovation |
Institution | Nanyang Technological University |
Pages | 9 |
File Size | 504.4 KB |
File Type | |
Total Downloads | 103 |
Total Views | 146 |
answers...
Part 1 Test
Summary of responses 1) Disruptive Innovation is _______________.
a) good for companies using mature technology b) good for new start-ups using new technology c) good for companies with no knowledge of technology d) good for companies not willing to innovate
Learner's answers:
good for new start-ups using new technology
2) Social entrepreneurs do not have to focus on financial sustainability.
a) True b) False
Learner's answers:
False
3) A product that attracts customers that formerly do not use them is __________.
a) causing customer disruption b) causing new market disruption c) causing disruption of the Base of Pyramid d) causing new customer disruption
Learner's answers:
causing new market disruption
4) Which of the following is a myth of entrepreneurship?
a) Entrepreneurs love the spotlight b) Entrepreneurs are moderate risk takers c) Entrepreneurs are motivated by financial and non-financial goals d) Age is not a barrier in becoming a successful entrepreneur
Learner's answers:
Entrepreneurs love the spotlight
5) What is the reason for Corporate Entrepreneurship?
a) Easy promotion for the staff involved b) To achieve a branding advantage for the company c) To fend off market competition d) None of the above
Learner's answers:
To fend off market competition
6) By accumulating multiple incremental improvements, one achieves radical innovation.
a) True b) False
Learner's answers:
False
7) A business plan typically contains _____________.
a) financial projection b) PEST analysis c) SWOT analysis d) All of the above
Learner's answers:
8)
All of the above
When an entrepreneur engages in business analysis, s/he takes into account all of these factors except:
a) Feasibility of the idea b) Preferred lifestyle c) Marshalling resources d) Planning the business
Learner's answers:
Preferred lifestyle
9) The Theory of Disruptive Innovation is useful to forecast the trajectories of related innovations.
a) True b) False
Learner's answers:
True
10) At the “New Idea Creation” stage, ______________.
a) all members of the team should be involved b) quantity of ideas is more important than quality c) only good ideas should be accepted d) ideas should be evaluated for their usefulness
Learner's answers:
quantity of ideas is more important than quality
11)
Innovative organizations are those that systematically generate ideas and do not let any idea slip away.
a) True b) False
Learner's answers:
True
12) Radical Innovation is also called Breakthrough Innovation.
a) True b) False
Learner's answers:
True
13) All of the following statements are false except:
a) To be successful, entrepreneurs must be young just like those in the Silicon Valley. b) The concept of novelty in entrepreneurship is limited to new products. c) An opportunity is anchored in a product or service that adds value to customers. d) Money is the single most powerful motivator for people to engage in new ventures.
Learner's answers:
An opportunity is anchored in a product or service that adds value to customers.
14) Which of the following statements is correct?
a) There is only one type of innovation and that is product/service innovation. b) Radical Innovation is easier to implement than Incremental Innovation. c) Disruptive Innovation is also Radical Innovation.
d) Radical innovation of demand always brings in huge fortune.
Learner's answers:
Radical innovation of demand always brings in huge fortune.
15) It is important to the organisation to do a feasibility test at the incubation stage.
a) True b) False
Learner's answers:
True
16) Which of the following describes the rationale for Corporate Entrepreneurship?
a) Avoid business stagnation b) To increase market awareness c) Innovation d) None of the above
Learner's answers:
Avoid business stagnation
Social ventures that adopt a _________ model generate profit to fund the social programmes of 17) their affiliate or parent charities to reduce their reliance on donations and improve financial sustainability.
a) social needs b) work integration c) plough-back profit d) subsidized services
Learner's answers:
Learner's answers:
plough-back profit
18) What is the difference between invention and innovation?
a) Invention is art whereas innovation is science. b) Invention is just something new and innovation is something new with commercial value. c) Innovation is just something new and invention is something new with commercial value. d) The two terms have the same meaning.
Learner's answers:
Invention is just something new and innovation is something new with commercial value.
19) Personal analysis includes knowing and understanding ___________.
a) my goals b) my business plan c) my feasibility plan d) my initial startup cash
Learner's answers:
my goals
20) Which of the following statements is correct?
a) A technology S-curve depicts the change in performance of a given technology. b) Technology grows rapidly after a breakthrough in performance. c) There is a limit to the growth of technology. d) All of the above.
Learner's answers:
All of the above.
21) The following are qualities of an opportunity except:
a) timely b) radical c) attractive d) durable
Learner's answers:
radical
22) One of the many reason for Corporate Entrepreneurship is to retain performing staff.
a) True b) False
Learner's answers:
True
23) According to Professor Dees, the following pertain to what social entrepreneurs do except:
a) Recognize opportunities to fulfill a social need b) Engage in continuous innovation c) Prioritize income over social mission d) Exhibit heightened accountability to constituencies
Learner's answers:
Prioritize income over social mission
24) The following are categories of social enterprises in Singapore except:
a) Voluntary work
b) Work integration c) Plough-back profit d) Subsidized services
Learner's answers:
Voluntary work
25) At the “New Idea Creation” stage, not all ideas are important.
a) True b) False
Learner's answers:
False
26) Which of the following statements is incorrect?
a) Entrepreneurs transform technologies into innovative products. b) Many inventions originate from scientific discovery. c) Sometimes it is not clear if a product is an invention or an innovation. d) Innovative products will bring in huge fortune.
Learner's answers:
Innovative products will bring in huge fortune.
27) Low end disruption refers to the case when ______________.
a) there are customers who look for disruptive innovation b) there are customers who buy when price is cheap even though performance is not so good c) there are customers at the Base of Pyramid d) there are customers who are ignorant
Learner's answers:
there are customers who buy when price is cheap even though performance is not so good
28) Professor Howard Stevenson defined entrepreneurship as:
a) Starting a new business venture b) The pursuit of an opportunity beyond resources one currently controls c) Exploring new ways of doing things d) An activity that involves opportunity discovery, evaluation, and exploitation
Learner's answers:
The pursuit of an opportunity beyond resources one currently controls
Mark: 28 out of 28 Redo questions
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