Test Bank For New Venture Creation International Edition 6th Edition by Kathleen R. Allen

We would like to welcome you to our store! Today we would like to feature the Test Bank for New Venture Creation International Edition 6th Edition, composed by Kathleen R. Allen. This test bank is an excellent resource for students and teachers giving numerous varieties of questions and answers which correspond directly to the textbook. It does not matter whether you are a student who wants to revise for his tests or a teacher wishing to improve his teaching resources, this test bank comes in handy.

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We know that the content of our test bank will assist you in gaining a deeper understanding of entrepreneurship for instance the majority of the concepts covered here are quite essential for success in entrepreneurship. Do not think that this resource is just aimed at passing exams; there is more to it than that, and that is the comprehension of the material. Here, using this test bank, you will be able to understand in detail entrepreneurship as a concept, business planning and innovation, and their interrelation to the establishment of business ventures.

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• Entrepreneurial Mindset: We encourage you to embark on this entrepreneurial venture by enabling yourself to grasp the concepts of an entrepreneurial mind. Get an insight into creativity in business, what risks are involved, and the passion that is needed in the business start and growth process.
• Business Planning: Appreciate the significance of a well-structured business plan. This section is all about developing a business plan that enhances the vision, the strategy, and the financial forecasts.
• Market Research: Define market opportunities and undertake market decisions with the help of market research. Also, understand how to collect and interpret information about your potential clientele and competitors.
• Financial Management: Learn about how financials should be managed in a new business. This section encompasses issues of budgeting, financing, and financial examination of the enterprise to help assess its fiscal feasibility.
• Innovation and creativity: Investigate the value that creativity and innovation bring to the development of businesses. Identify the steps and methods which can assist you in obtaining and commercializing wads of ideas.
• Growth Strategies: Learn the methods of enhancing the size of a business. This section covers increasing the scope of operations, penetration of foreign markets, and establishment of the desired corporate image.

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Conclusion

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Test Bank For New Venture Creation International Edition 6th Edition by Kathleen R. Allen

Chapter 3—Creativity and Opportunity

TRUE/FALSE

1. Creativity enables entrepreneurs to differentiate their businesses from competitors so that customers will notice them.

ANS: T PTS: 1

2. Stage seven of Norman Seeff’s creative process represents the emotional fulfillment of the original dream.

ANS: T PTS: 1

3. Common types of roadblocks to creativity are personal, relational, and environmental.

ANS: F PTS: 1

4. The illumination step in Wallas’s creative process brings the idea to an outcome.

ANS: F PTS: 1

5. Discovery theory and creation theory help explain how entrepreneurial opportunities happen.

ANS: T PTS: 1

6. Entrepreneurs erect roadblocks that prevent them from being creative.

ANS: T PTS: 1

7. The environment in which a person works can either stimulate or discourage creativity.

ANS: T PTS: 1

8. The creative journey begins with maintaining a journal of one’s thoughts and ideas.

ANS: T PTS: 1

9. Entrepreneurs build businesses based on concepts that never existed before.

ANS: F PTS: 1

10. One of the most effective ways that entrepreneurs have of finding an opportunity is to see a problem and seek a solution.

ANS: T PTS: 1

MULTIPLE CHOICE

1. Entrepreneurs differ from others who have ideas in that they know how to extract ____ from those ideas to creative commercial potential.

a.

value

b.

creativity

c.

innovation

d.

opportunities

e.

problems

ANS: A PTS: 1

2.____ sees opportunity arising from shifts in external factors in the market or industry, such as regulation, technological changes, and changes in customer preferences.

a.

Problem-solving

b.

Innovation

c.

Creation theory

d.

Discovery theory

e.

Value creation

ANS: D PTS: 1

3. In ____, entrepreneurs create opportunities via their actions, reactions, and experiments around new products, services, and business models.

a.

invention

b.

innovation

c.

creation theory

d.

discovery theory

e.

value creation

ANS: C PTS: 1

4. Creativity is the basis for ____, which is discovering something that did not exist previously.

a.

invention

b.

innovation

c.

creation theory

d.

discovery theory

e.

value creation

ANS: A PTS: 1