MULTIPLE CHOICE WITH EXPLANATION

1.Which of the following are sources of innovation?

duplication and processes

industry changes and extension

synthesis and technology

unexpected occurrences and incongruities

2.What approach to business opportunity identification is illustrated here: Due to so much demand of disposable face masks, people resorted to selling cloth face masks.

Finding a gap

Observing Trends

Solving problems

Maximize use of idle resources

3.Which among the list is NOT considered as a COMMON IDEA KILLER?

I am satisfied with our existing system and I think it is good to stick with this.

That is the most brilliant suggestion I ever heard from the committee.

What you are asking is beyond the limits of our budget.

That suggestion is ridiculous!

4.The external environment comprises of the following except

Legal

Socio-cultural

Product

Political

5.What approach to business opportunity identification is illustrated here: Pedro set up a gym in his municipality seeing so many fitness enthusiasts going to a nearby town for gym time.

Observing Trends

Maximize use of idle resources

Solving problems

Finding a gap

6.This refers to the tendency to intensely and directly challenge competitors rather than trying to avoid them.

Proactiveness

Competitive aggressiveness

Autonomy

Innovativeness

7.Which definition best refer to environment scanning

Collecting information from those who are in direct contact with the business organization.

Gathering data about the organization and its surroundings

Collecting information about the shareholders

Gathering information about the employees

8.You discovered the vaccine for COVID19. What type of INNOVATION was applied in your situation?

Synthesis

Duplication

Invention

Extension

9.Each of the following is part of the external environment of an organization except

Organizational Structure

Ecological Factors

Social factors

Political factors

10.The following are characteristics of an opportunity seeking competency except which item?

like challenges and new opportunities

prefer activities that you know well and with which you are comfortable.

do things that need to be done before being asked by others.

try things that are very new and different from what you have done before.