Answered: 8. When developing creative solutions…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Question

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
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
10. A business plan is a written summary of
a) an entrepreneur's proposed business venture
b) a business venture's operational, financial, and marketing
details
c) the skills and abilities of a business venture's managers
d) All of the above

Transcribed Image Text:1. Which of the following is not associated with an entrepreneur? a) Making business decisions b) Organizing resources c) Taking risks d) Working for other people. 2. Which of the following is most likely to be a characteristic of a successful entrepreneur? a) Disorganized b) Indecisive c) Irresponsible d) Self-motivated 3. Which of the following is a benefit or reward to starting your own business? a) Emotional stress b) Financial security c) Independence d) Less time to spend on leisure activities. 4. One of the most significant economic developments in recent business history relates to the a) growth of blue-chip corporations b) development of Pacific Rim countries c) entrepreneurial spirit d) additional employment opportunities offered by government institutions 5. The recent number of job losses in large corporations compared to the jobs created by small business has changed the perception of for launching a new business. a) prestige b) risk c) financing opportunities d) short-term potential 6. The profile of an entrepreneur includes a) a desire for responsibility and moderate risk b) confidence in the ability to succeed and determination c) a high level of energy, a desire for immediate feedback and a future orientation d) All the above Answer: D 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

Expert Solution