Chapter 3 Test Bankk Creativity and Innovation

Chapter 3 Creativity and Innovation: Keys to Entrepreneurial Success
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
Answer: D
Page Ref: 72
Topic: Creativity, Innovation, and Entrepreneurship
AACSB: Analytic Skills
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
Answer: D
Page Ref: 72
3) According to Ted Levitt, creativity is ________ new things.

A) thinking
B) doing
C) corroborating
D) emulating
Answer: A
Page Ref: 72
4) According to Ted Levitt, innovation is ________ new things.

A) thinking
B) doing
C) corroborating
D) emulating
Answer: B
Page Ref: 72
5) 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
Answer: D
Page Ref: 73
6) Which one of the following is NOT a small business innovation enabler, according to Intuit?
A) Compassion
B) Customer connection
C) Agility and adaptation
D) All are enablers
Answer: A
Page Ref: 73
7) Some small businesses create innovations ________ in response to customer feedback or changing
market conditions.
A) responsibly
B) compassionately
C) reactively
D) proactively
Answer: C
Page Ref: 73
8) Some small businesses create innovations ________ by spotting opportunities on which to capitalize.
A) responsibly
B) compassionately
C) reactively
D) proactively
Answer: D
Page Ref: 73
9) 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
Answer: D
Page Ref: 73
10) More often, innovations are ________.

A) evolutionary
B) revolutionary
C) proactive
D) All of the above
Answer: A
Page Ref: 73
11) The iPod is an example of a ________ innovation.

A) revolutionary
B) evolutionary
C) proactive
D) perfunctory
Answer: C
Page Ref: 75
12) ________ thinking is going from one logical conclusion to the next.
A) Vertical
B) Lateral
C) Simultaneous
D) Parallel
Answer: A
Page Ref: 79
Topic: Creative Thinking
13) ________ thinking is considering a problem from all sides and jumping into it at different points.
A) Vertical
B) Lateral
C) Simultaneous
D) Parallel
Answer: B
Page Ref: 79
14) Another word for vertical thinking is ________ thinking.

A) lateral
B) linear
C) parallel
D) simultaneous
Answer: B
Page Ref: 79
15) The ________ brain processes information in a step-by-step fashion.

A) left
B) right
C) front
D) back
Answer: A
Page Ref: 79
16) The ________ brain processes information intuitively.

A) left
B) right
C) front
D) back
Answer: B
Page Ref: 79
17) Which brain handles language, logic, and symbols?
A) Left
B) Right
C) Front
D) Back
Answer: A
Page Ref: 79
18) Which brain takes care of the body's emotional, intuitive, and spatial functions?
A) Left
B) Right
C) Front
D) Back
Answer: B
Page Ref: 79
19) Which one of the following is a barrier to creativity?

A) Searching for the one "right" answer
B) Focusing on being "logical"
C) Blindly following the rules
D) All of the above
Answer: D
Page Ref: 82
Topic: Barriers to Creativity
20) According to research, creativity among both children and adults in the United States has declined
markedly since:
A) 1990.
B) 1995.
C) 2000.
D) 2005.
Answer: A
Page Ref: 82
AACSB: Reflective Thinking
21) ________ is (are) a valuable part of the creative process, especially when evaluating ideas and
implementing them.
A) Rules
B) Unequivocality
C) Logic
D) All of the above
Answer: C
Page Ref: 82
22) Focusing too much effort on being logical also discourages the use of one of the mind's most
powerful creations: ________.
A) rationality
B) rigidity
C) credibility
D) intuition
Answer: D
Page Ref: 82
23) A common killer of creativity is ________ thinking.

A) flexible
B) intuitive
C) equivocal
D) myopic
Answer: D
Page Ref: 84
24) ________ thinking is narrowly focused and limited by the status quo.
A) Flexible
B) Intuitive
C) Creative
D) Myopic
Answer: D
Page Ref: 84
25) To avoid myopic thinking, creative companies include ________ in creative problem solving or idea
generation sessions.
A) nonexperts
B) experts
C) industry specialists
D) industry generalists
Answer: A
Page Ref: 84
26) ________ encourages us to "think something different."

A) Ambiguity
B) Reciprocity
C) Animosity
D) All of the above
Answer: A
Page Ref: 84
27) Creative thinking is no place for ________.

A) ambiguity
B) conformity
C) flexibility
D) All of the above
Answer: B
Page Ref: 84
28) Thanks to ________, the cost of failed attempts at innovation has never been lower.
A) globalization
B) distance
C) technology
D) localization
Answer: C
Page Ref: 85
29) Which one of the following is a suggestion to enhance creativity in organizations?

A) Include creativity as a core company value and make it an integral part of the company's culture
B) Hire for conformity
C) Eschew diversity
D) All of the above
Answer: A
Page Ref: 87
Topic: How to Enhance Creativity
30) Innovative companies do not take a(n) ________ approach to creativity.
A) proactive
B) active
C) passive
D) All of the above
Answer: C
Page Ref: 87
31) One of the best ways to cultivate a culture of creativity is to hire a ________.
A) monolithic workforce
B) diverse workforce
C) homogeneous workforce
D) local workforce
Answer: B
Page Ref: 87
32) Research suggests that innovative companies are structured like ________ rather than a traditional
pyramid.
A) boxes
B) circles
C) linguini
D) spaghetti
Answer: D
Page Ref: 88
33) The ________ environment in which people work has an impact on their level of creativity.
A) emotional
B) physical
C) national
D) All of the above
Answer: B
Page Ref: 89
34) ________ are entrepreneurs who operate within the framework of an existing business.
A) Managers
B) Disruptors
C) Intrapreneurs
D) Challengers
Answer: C
Page Ref: 90
35) While working for iRobot, Jim Lynch came up with a new product while cleaning the gutters on his
house. Lynch is an example of a(n) ________.
A) entrepreneur
B) disruptor
C) intrapreneur
D) manager
Answer: C
Page Ref: 90
36) The voice of a ________ can be an important source of creative ideas.

A) customer
B) competitor
C) operator
D) manager
Answer: A
Page Ref: 91
AACSB: Analytic Thinking
37) Focusing on the "________" uses of a product or service limits creativity.

A) unconventional
B) innovative
C) traditional
D) unorthodox
Answer: C
Page Ref: 91
38) Creativity is "________" as much as it is "taught."

A) bought
B) caught
C) sought
D) concocted
Answer: B
Page Ref: 92
39) Creativity is "caught" as much as it is "________."

A) bought
B) sought
C) concocted
D) taught
Answer: D
Page Ref: 92
43) Which of the following is NOT a step in the creative process?
A) Transliteration
B) Preparation
C) Investigation
D) Illumination
Answer: A
Page Ref: 96
Topic: The Creative Process
44) In the creative process, ________ involves viewing the similarities and differences among the
information collected.
A) transformation
B) investigation
C) incubation
D) verification
Answer: A
Page Ref: 99
45) ________ thinking is the ability to see the similarities and the connections among various and often
diverse data and events.
A) Divergent
B) Parallel
C) Investigative
D) Convergent
Answer: D
Page Ref: 99
46) ________ thinking is the ability to see the differences among various data and events.
A) Divergent
B) Parallel
C) Investigative
D) Convergent
Answer: A
Page Ref: 100
47) In the creative process, the transformation phase requires two types of thinking: ________ and
________.
A) convergent, parallel
B) divergent, parallel
C) investigative, parallel
D) convergent, divergent
Answer: D
Page Ref: 100
48) In the creative process, ________ occurs while the individual is away from the problem, often
engaging in some totally unrelated activity.
A) investigation
B) incubation
C) transformation
D) verification
Answer: B
Page Ref: 100
49) Often, ideas require a ________ period.

A) investigation
B) verification
C) gestation
D) preparation
Answer: C
Page Ref: 100
50) The goal of the ________ stage in the creative process is to subject the innovative idea to the test of
cold, hard reality.
A) verification
B) gestation
C) investigation
D) transformation
Answer: A
Page Ref: 102
Chapter 4
1) The strategic management process:

A) is especially difficult for the small business because of its limited resources.
B) divides mass markets into smaller, less homogeneous units.
C) provides the small business owner with the tools for managing the uncontrollable elements in the
external business environment.
D) helps a small business develop the game plan that guides it in creating its mission, vision, goals, and
objectives.
Answer: D
Page Ref: 108
Topic: Introduction
2) The primary output of the strategic management process should be:

A) a matching of its strengths and weaknesses to the opportunities and threats in the environment.
B) an enticement to outside investors and lenders to put money into the business.
C) a complete explanation of the company's product or service.
D) a description of the company's competitive situation.
Answer: A
Page Ref: 108
Topic: Introduction
3) A small business's "aggregation of factors that sets it apart from its competitors" is its:
A) strategic plan.
B) competitive advantage.
C) vision.
D) competitive strategy.
Answer: B
Page Ref: 108
Topic: Building a Competitive Advantage
4) The strategic planning process for small businesses is:

A) market-focused.
B) the same as it is for a large company.
C) generally done by top management with little or no participation by employees.
D) product-focused and similar to that for large companies.
Answer: A
Page Ref: 108
5) How is the strategic planning process for small companies different from that for large companies?
A) The planning horizon should cover at least five years into the future.
B) The process should begin with setting objectives and conclude with competitive analysis.
C) The process should be informal and not overly structured—"a shirtsleeve approach."
D) It should be conducted by top management and provided to lower management.
Answer: C
Page Ref: 110
6) ________ focuses everyone's attention and efforts on the same target market. It is an expression of
what the owner believes in.
A) The mission statement
B) The company vision
C) The strategic plan
D) The operational plan
Answer: B
Page Ref: 111
Topic: The Strategic Management Process
7) Which of the following is true about successful entrepreneurs and their vision?
A) It is created independently of their market or their customers.
B) It includes their understanding of the competition and their key market segments.
C) They are able to communicate it and their enthusiasm for it to all those around them.
D) They create it in cooperation with their employees.
Answer: C
Page Ref: 111
Topic: The Strategic Management Process—Develop a Clear Meaningful Mission
8) Answering the question "What business am I in?" defines the company's:

A) mission.
B) assessment of its own strengths and weaknesses.
C) external opportunities and threats.
D) goals and objectives.
Answer: A
Page Ref: 112
9) Which of the following best expresses the relationship of a company vision to its mission?
A) The company vision comes from the company mission.
B) The mission statement is the written expression of the company vision.
C) The company mission statement is the verbal expression of the written vision.
D) There is no relationship between the two.
Answer: B
Page Ref: 112
10) A mission statement should answer which of the following questions?

A) What are the needs and wants of the target customers?
B) How will we finance our growth and expansion?
C) Who are our competitors?
D) How much money will we make?
Answer: A
Page Ref: 112
11) Once the vision and mission are established, the entrepreneur needs to:
A) select the target market.
B) conduct market research.
C) choose a competitive strategy.
D) assess the firm's strengths and weaknesses.
Answer: D
Page Ref: 114
12) ________ are positive internal factors that contribute towards accomplishing the company's
objectives.
A) Strengths
B) Weaknesses
C) Opportunities
D) Threats
Answer: A
Page Ref: 114
13) ________ are negative internal factors that inhibit the accomplishment of a firm's objectives.
A) Strengths
B) Weaknesses
C) Opportunities
D) Threats
Answer: B
Page Ref: 114
14) When the small business owner assesses her company's strengths and weaknesses, she is dealing with
the ________ business environment.
A) macro
B) external
C) competitive
D) internal
Answer: D
Page Ref: 114
15) ________ are negative external forces that inhibit the firm's ability to achieve its objectives.
A) Strengths
B) Weaknesses
C) Opportunities
D) Threats
Answer: D
Page Ref: 116
Topic: The Strategic Management Process—Scan the Business
16) Corey notices a "backlash" against health food among people who eat out. He decides to open a
restaurant that stresses "good home cooking," heavy with gravies, breads, oils, etc. Corey has identified
and is trying to capitalize on a(n) ________ in the market environment.
A) strength
B) weakness
C) threat
D) opportunity
Answer: D
Page Ref: 115
17) Every business is characterized by a set of controllable variables called ________ that determines the
relative success (or lack of it) of market participants.
A) distinctive competencies
B) key success factors
C) opportunities and threats
D) competitive edge
Answer: B
Page Ref: 116
Topic: The Strategic Management Process—Identify the Business
18) These are products of the interaction of various forces, trends, and events that are outside the control
of the small business.
A) Distinctive competencies
B) key success factors
C) Opportunities and threats
D) Strengths and weaknesses
Answer: C
Page Ref: 115
19) A small firm's ability to identify and manipulate the ________ in its business determines its ability to
compete effectively.
A) key success factors
B) corporate vision and mission
C) opportunities and threats
D) market environment
Answer: A
Page Ref: 116
20) ________ are relationships between a controllable variable—plant size, quality, packaging—and a
critical factor influencing the firm's ability to compete in the marketplace.
A) Core competencies
B) Competitive advantages
C) Key success factors
D) Goals and objectives
Answer: C
Page Ref: 118
21) A small business owner would conduct a competitive analysis in order to:
A) influence customers' perceptions of the company and products' image.
B) avoid surprises from existing competitors and to identify potential new competitors.
C) divide the market into smaller, homogeneous units.
D) scan the environment for weaknesses and strengths on which to capitalize.
Answer: B
Page Ref: 119
Topic: The Strategic Management Process—Analyze the Competition
22) Joan is seeking to answer a series of questions such as: How do competitor's cost structures compare
to ours, what new competitors are entering the industry, what do our customers say about competitors,
etc. By asking these questions, Joan is:
A) conducting a SWOT analysis.
B) identifying her company's key success factors.
C) formulating strategic options for her company.
D) performing a competitive analysis.
Answer: D
Page Ref: 119
23) Purchasing rival companies' products, taking them apart, and analyzing them is:
A) industrial espionage.
B) illegal due to federal regulation.
C) benchmarking.
D) cataloguing.
Answer: C
Page Ref: 120
24) The information-gathering process in competitive analysis:

A) is an expensive process that only established small companies can afford.
B) can be relatively inexpensive and easy for the small business owner to conduct.
C) is closely regulated by various federal laws.
D) is a process that requires expert help but is relatively inexpensive.
Answer: B
Page Ref: 120
25) A competitive profile matrix:
A) identifies a firm's core competencies.
B) permits the small business owner to divide a mass market into smaller, more manageable segments.
C) compares the firm's and its competitors' key success factors.
D) creates a road map of action for the entrepreneur in order to fulfill his/her company's mission, goals,
and objectives.
Answer: C
Page Ref: 121
26) ________ are the broad, long-range attributes the small business seeks to accomplish; ________ are
the specific, measurable milestones the company wants to achieve.
A) Goals; objectives
B) Goals; strategies
C) Objectives; goals
D) Strategies; goals
Answer: A
Page Ref: 122
Topic: The Strategic Management Process—Create Company Goals and Objectives
27) ________ are specific measurable targets to be accomplished in a defined time period.
A) Core competencies
B) Objectives
C) Goals
D) Key success factors
Answer: B
Page Ref: 122
Topic: The Strategic Management Process—Create Company Goals and Objectives
28) The small firm's "master plan" is its:

A) objectives.
B) goals.
C) competitive edge.
D) strategy.
Answer: D
Page Ref: 125
29) The focal point of a firm's strategy is:

A) the firm's goals and objectives.
B) the firm's key success factors.
C) the customer.
D) the firm's strengths and weaknesses.
Answer: B
Page Ref: 125
30) Small firms pursuing a cost leadership strategy have an advantage in reaching customers whose
primary purchase criterion is:
A) quality.
B) constant innovation.
C) price.
D) customer service.
Answer: C
Page Ref: 125
31) Cost leadership has several inherent dangers such as:

A) choosing to distinguish the product that does not boost its performance.
B) an overfocus on the physical characteristics of the product.
C) the identified niche is not large enough to be profitable.
D) an overfocus on costs to the elimination of other strategies.
Answer: D
Page Ref: 126
32) A small company following a ________ strategy seeks to build customer loyalty by positioning its
goods and services in a unique fashion.
A) differentiation
B) cost leadership
C) focus
D) niche
Answer: A
Page Ref: 126
33) A differentiation strategy:

A) seeks to find and defend an identifiable market niche.
B) is built on a company's distinctive competence.
C) must create the perception of value in the customer's eyes through the lowest possible price.
D) focuses solely on making the physical characteristics of the product as unique as possible.
Answer: D
Page Ref: 127
34) Tyson Foods' practice of adding value to its chicken products by deboning, skinning, bite-sizing, or
pre-cooking them is an example of a:
A) cost leadership strategy.
B) differentiation strategy.
C) focus strategy.
D) concentration strategy.
Answer: B
Page Ref: 127
35) Which of the following is a danger in choosing a differentiation strategy?

A) Charging a price so high that the company prices itself out of the market
B) Choosing a basis for price leadership that is essentially unimportant to the customer
C) Choosing a market that is not large enough to be profitable
Ch -5
3) The most popular form of business ownership is the:

A) sole proprietorship.
B) partnership.
C) corporation.
D) S-corporation.
Answer: A
Page Ref: 139
Topic: Sole Proprietorship
4) Juan is starting a software writing company. He is the owner and has only 3 employees. He wants a
simple inexpensive form of ownership that leaves him in control and that he can quickly dissolve if he
decides to change to another business. His best choice of form of ownership would be:
A) S-corporation.
B) partnership.
C) corporation.
D) sole proprietorship.
Answer: D
Page Ref: 139
Topic: Sole Proprietorship
5) Sole proprietorships characteristically are:

A) fairly complex to create.
B) subject to special legal restrictions.
C) expensive to create.
D) easy to discontinue.
Answer: D
Page Ref: 142
Topic: Sole Proprietorship: Easy to Discontinue
6) The most critical disadvantage of the sole proprietorship is:

A) unlimited personal liability.
B) limited access to capital.
C) lack of continuity.
D) limited skills and capacities of the owner.
Answer: A
Page Ref: 142
Topic: Sole Proprietorship: Unlimited Personal Liability
7) Which form of ownership generally has the least ability to accumulate capital?
A) Partnership
B) Sole proprietorship
C) Corporation
D) S-corporation
Answer: B
Page Ref: 142
Topic: Sole Proprietorship: Limited Access to Capital
8) While a sole proprietorship gives the owner maximum flexibility in running the business, it also:
A) makes the company a prime target for an acquisition or merger.
B) creates a sense of isolation.
C) makes it difficult to hire management talent to help grow the business.
D) makes it difficult to sell.
Answer: B
Page Ref: 142
Topic: Sole Proprietorship: Feelings of Isolation
9) Common ownership interest in a business, sharing profits (or losses) of a business, and the right to
participate in managing the operations of the business are characteristics of a(n):
A) corporation.
B) sole proprietorship.
C) partnership.
D) S-corporation.
Answer: C
Page Ref: 144
Topic: Partnership
10) If a partnership is formed without an agreement, the partnership is automatically subject to the:
A) Certification of Incorporation laws.
B) Uniform Partnership Act.
C) Limited Liability Company Act.
D) Revised Uniform Limited Partnership Act.
Answer: B
Page Ref: 144
Topic: Partnership
11) Probably the most important feature of a partnership agreement is:

A) that it identifies the name of the partnership.
B) that it states the purpose and location of the business.
C) that it determines how the partnership will pay taxes and fees.
D) that it resolves potential sources of conflict.
Answer: D
Page Ref: 144
Topic: Partnership
12) Which of the following is true about the content of a standard partnership agreement?
A) It does not specify how profits and losses will be distributed.
B) It includes the Certificate of Incorporation.
C) It specifies how the partnership may be dissolved and assets divided.
D) While it specifies the location of the business and its purpose, it does not name the partners or their
legal addresses in order to maintain privacy for the partners.
Answer: C
Page Ref: 145
Topic: Partnership
13) A partnership agreement sets how the partners will be compensated. Normally:
A) partners are not entitled to salaries or wages, but are compensated by a share of the profits of the
business.
B) the general partner's salary is set at 2 times the salaries of the limited partners.
C) both general and limited partners are permitted salaries, but all silent or dormant partners are
compensated only by sharing in the profits.
D) while the agreement establishes payout schedules, it does not spell out what constitutes profit.
Answer: A
Page Ref: 146
Topic: Partnership
27) The ________ is the most complex form of ownership and is a separate legal entity in the eyes of the
law.
A) sole proprietorship
B) partnership
C) corporation
D) joint venture
Answer: C
Page Ref: 151
Topic: The Corporation
28) The ________ is a separate legal entity apart from its owners and may engage in business, make
contracts, sue and be sued, and pay taxes.
A) sole proprietorship
B) corporation
C) partnership
D) joint venture
Answer: B
Page Ref: 151
29) A corporation receives its authority to operate from:
A) the federal government.
B) the state.
C) the board of certification.
D) the stockholders.
Answer: B
Page Ref: 151
30) A corporation doing business in the state in which it is incorporated is considered to be a(n) ________
corporation.
A) alien
B) domestic
C) foreign
D) local
Answer: B
Page Ref: 151
31) The "Das Spelunker" corporation, formed in Germany and conducting business in the United States,
is considered to be a(n) ________ corporation.
A) alien
B) domestic
C) foreign
D) local
Answer: A
Page Ref: 151
32) Acme Corporation is chartered in Delaware, but its primary area of operation is in South Carolina. In
South Carolina, Acme would be considered a(n) ________ corporation.
A) alien
B) domestic
C) foreign
D) local
Answer: C
Page Ref: 151
33) Which of the following generally is not required by a Certificate of Incorporation?

A) The names and the addresses of the incorporators
B) A statement of the corporation's purpose
C) A statement of how stock proceeds will be u
D) The corporation's bylaws
Answer: C
Page Ref: 151
Topic: The Corporation: Requirements for Incorporation
34) The primary reason entrepreneurs choose to incorporate is because of:

A) the corporation's ability to attract capital.
B) the need to attract top quality management talent to grow the business.
C) the lower tax rates inherent in the corporate form of ownership.
D) the limited liability of stockholders.
Answer: D
Page Ref: 152
Topic: The Corporation: Advantages of the Corporation
35) The form of ownership with the greatest ability to accumulate capital is the:
A) sole proprietorship.
B) partnership.
C) joint venture.
D) corporation.
Answer: D
Page Ref: 153
Topic: Advantages of the Corporation: Ability to Attract Capital
36) The corporate form of ownership has a significant advantage in that:

A) it is easy to transfer ownership.
B) it has a lower tax rate than either partnerships or sole proprietorships.
C) there is little cost to its formation.
D) there is little regulatory oversight by the government.
Answer: A
Page Ref: 154
Topic: Advantages of the Corporation: Transferable Ownership
37) Which of the following is a disadvantage of the corporation form of ownership?

A) An inability to accumulate capital
B) The unlimited liability to the members of the board
C) Double taxation on profits and individuals
D) The lack of continuity
Answer: C
Page Ref: 154
Topic: Disadvantages of the Corporation: Double Taxation
38) Carlos founded the "Taco Factory" 20 years ago as a family-oriented restaurant business. Over the
years as he grew the business, he incorporated and sold stock. Recently the stockholders voted to seek
liquor licenses and sell beer and hard liquor in the restaurants. Carlos opposed this, citing the history of
the restaurant's "family" environment, but was voted down. Carlos experienced which drawback of the
corporate form of ownership?
A) The inability to accumulate capital
B) The potential for diminished managerial incentives
C) Legal requirements and red tape
D) The potential loss of control
Answer: D
Page Ref: 155
Topic: Disadvantages of the Corporation: Potential Loss of Control by the Founders
47) Traditionally, ________ were always set up as nonprofit corporations.

A) businesses
B) corporations
C) social enterprises
D) partnerships
Answer: C
Page Ref: 160
Topic: Social Enterprises
48) A ________ organization uses its revenues to pursue social value rather than create personal value for
investors.
A) business
B) nonprofit
C) venture
D) corporate
Answer: B
Page Ref: 161
Topic: Nonprofit Organizations

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Chapter 3 Creativity and Innovation: Keys to Entrepreneurial Success

3) According to Ted Levitt, creativity is ________ new things.

4) According to Ted Levitt, innovation is ________ new things.

10) More often, innovations are ________.

11) The iPod is an example of a ________ innovation.

14) Another word for vertical thinking is ________ thinking.

15) The ________ brain processes information in a step-by-step fashion.

16) The ________ brain processes information intuitively.

19) Which one of the following is a barrier to creativity?

23) A common killer of creativity is ________ thinking.

26) ________ encourages us to "think something different."

27) Creative thinking is no place for ________.

29) Which one of the following is a suggestion to enhance creativity in organizations?

36) The voice of a ________ can be an important source of creative ideas.

37) Focusing on the "________" uses of a product or service limits creativity.

38) Creativity is "________" as much as it is "taught."

39) Creativity is "caught" as much as it is "________."

49) Often, ideas require a ________ period.

1) The strategic management process:

2) The primary output of the strategic management process should be:

4) The strategic planning process for small businesses is:

8) Answering the question "What business am I in?" defines the company's:

10) A mission statement should answer which of the following questions?

24) The information-gathering process in competitive analysis:

28) The small firm's "master plan" is its:

29) The focal point of a firm's strategy is:

31) Cost leadership has several inherent dangers such as:

33) A differentiation strategy:

35) Which of the following is a danger in choosing a differentiation strategy?

3) The most popular form of business ownership is the:

5) Sole proprietorships characteristically are:

6) The most critical disadvantage of the sole proprietorship is:

11) Probably the most important feature of a partnership agreement is:

33) Which of the following generally is not required by a Certificate of Incorporation?

34) The primary reason entrepreneurs choose to incorporate is because of:

36) The corporate form of ownership has a significant advantage in that:

37) Which of the following is a disadvantage of the corporation form of ownership?

47) Traditionally, ________ were always set up as nonprofit corporations.

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