MGT402 - MCQ - Ch01-03

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MGT402 – Entrepreneurship and small business

MCQ Ch01-03

1. ________ is the ability to develop new ideas and to discover new ways of looking at

problems and opportunities.

A) Showboating

B) Commoditizing

C) Innovation

D) Creativity

2. ________ is the ability to apply creative solutions to problems and opportunities to

enhance or to enrich people's lives.

A) Showboating

B) Commoditizing

C) Creativity

D) Innovation

3. For entrepreneurs, simply having a great new idea is not enough; transforming the idea

into a ________ product, service, or business venture is the next step.

A) plausible

B) legible

C) intangible

D) tangible

4. Some small businesses create innovations ________ in response to customer feedback or

changing market conditions.

A) responsibly

B) compassionately

C) reactively

D) proactively

5. Some small businesses create innovations ________ by spotting opportunities on which to

capitalize.

A) responsibly

B) compassionately

C) reactively

D) proactively

6. Innovation is ________ when it creates market-changing, disruptive breakthroughs that

are the result of generating something from nothing.

A) mandatory

B) perfunctory

C) evolutionary

D) revolutionary