Entrepreneurship

The process of designing, launching and running a new business

Something new and somehow valuable is formed

How many businesses are formed each month in the United States?

The most significant economic development in recent history.

1 in 8 adults in the United States is trying to start a new business.

The sum of people starting a business AND the number of owners of businesses that have been established for less than 3.5 years.

Countries compete on the use of unskilled labor and natural resources. While on the other hand, companies compete on the basis of price as they buy and sell basic products and commodities.

Growth is based on the development of more efficient production processes and increased product quality.

Companies compete by producing and delivering new products by more sophisticated processes.

Croatia is an example of...

Pakistan is an example of...

Korea is an example of...

Aims to analyze the level of entrepreneurship in countries.

A person who creates a business with risk and uncertainty for the purpose of achieving profits and growth by identifying opportunities and assembling the necessary resources to capitalize on them.

Which of these is NOT a characteristic of an entrepreneur?

Starts a business because they cannot find work any other way.

Starts a business because they spot an opportunity in the marketplace.

Starts a business after another repeatedly.

A strategy that involves conserving money and cutting costs during start-up so that entrepreneurs can pour every available dollar into their business.

Which of these is NOT a benefit of entrepreneurship?

Which of these is NOT a drawback of entrepreneurship?

Which of these is NOT a source of stress?

Between what ages are people most likely to start a business?

What created a significant amount of wealth among people in the age group of starting a business?

A monetary measure of the market value of all final goods and services produced in a period. It is used to determine the economic performance of a whole country or region, to make international comparisons.

Allows business owners to use a variety of business applications.

Which of these best describes cultural diversity?

Couples who work together as co-owners

Individuals who are unemployed but are highly educated and skilled. They previously had corporate executive jobs.

Executives who leave the corporate to pursue their own dreams and aspirations by starting their own business.

A group of people who are born from 1946 to 1964.

How many employees does a small business have?

What is the average capital in Jordan?

Large business create more jobs than small business.

Small companies that are growing at 20% or more per year.

What is the average annual sales of gazelles?

A successful entrepreneur is paralyzed by failure.

Failure is a natural part of the creative process

Which of these is a way to avoid pitfalls?

Which of these is NOT included in the 10 deadly mistakes?

Discovering new ways of looking at problems and opportunities.

The ability to apply creative solutions to problems and opportunities to enrich people's lives.

"Thinking new things"

"Doing new things"

Creating innovations in response to customer feedback or changing market conditions.

Creating innovations by spotting opportunities on which to capitalize.

Developing market-sustaining ideas that elaborate on exiting products, processes, and services.

Encompasses not only new products but also new business models.

Stumbling onto ideas by accident is more often than coming up with a new idea from something old.

Entrepreneurship does not require creativity AND innovation. It can be successful without one.

The result of disciplined systematic process of applying creativity and innovation to the marketplace.

Most ideas and innovations fail.

For every 5,000 to 10,000 new drugs....

Entrepreneurs can rely on what previously worked when developing creative solutions.

Necessity for survival in the entrepreneurial world.

What will happen to companies that fail to become engines of innovation?

An entrepreneur must _____________ to try new ideas.

An entrepreneur must _____________ throw outside what doesn't work.

Entrepreneurs must always be on guard against traditional assumptions and perspectives.

What are ways to be more creative?

What is another name for Creative Thinking?

Both hemispheres of the brain process information the same way

Which side of the brain is guided by linear?

Which side of the brain relies on kaleidoscopes?

Which side of the brain can be described with "lateral thinking"?

Which side of the brain can be described with "Vertical thinking?"

Which side of the brain handles language, logic and symbols?

The right side of the brain processes information all at once, relying on images.

The left side of the brain controls the body's emotional, intuitive and spatial functions.

The left side of the brain processes information step by step.

This type of thinking is narrowly focused, systematic and proceeds in a highly logical fashion from one part to the next.

This type of thinking is unconventional, unsystematic, unstructured.

What side of the brain lies at the heart of the creative process?

The ability to rise above the daily routine to see an issue from a broader perspective then swoop back dow to focus on an area in need of change.

What side of the brain challenges customs?

The left side of the brain is reflective.

Generates lots of ideas and increases the likelihood of coming up with a few highly creative ideas.

Entrepreneurship requires right-brain thinking because it draws on divergent reasoning.

Which side of the brain relies on convergent thinking?

The ability to evaluate multiple ideas and to choose the best solution.

The ability to create multitude of original and diverse ideas.

Which of these is a BARRIER to creativity?

Being narrowly focused and limited.

Companies hire nonexperts because experts tend to be very immersed in what they know.

Which of these is NOT a barrier to creativity?

Geniuses, visionaries, and inventors have more innate creative abilities than an average person.

Which of these is NOT a way to enhance organizational creativity?

Which of these is NOT a way to enhance individual creativity?

The process in which a group of people interact with the goal to create a large quantity of novel and imaginative ideas.

A brainstorming group should have a large number of people.

A brainstorming group should be as diverse as possible.

A brainstorming session should last for hours.

Company rank is relevant in a brainstorming session.

Building ideas on suggested ones.

A real threat to businesses that have created intellectual property and their customers who use the product of that intellectual property.

A grant from the trademark office to the inventor of the product. It gives exclusive rights to make, use, sell the invention for 20 years from the date of filing.

Granted for new product inventions

Extends the patent for 14 years. It is given to investors who make original changes to an existing product.

A distinctive work, symbol, design, name, logo, or slogan that a company uses to identify the origin of the product or to distinguish it from the market.

Serves as a company's signature.

Identifies the source rather than the product.

Gives exclusive rights that protects the creators of original works of authorship.

What is the primary weapon of protection?

What is the correct organization of The Creative Process?

Eliminating distraction and getting the mind ready.

Developing a solid understanding of the problem or the situation.

Viewing the similarities and the differences among the information collected.

The ability to see the similarities among a diverse data.

The ability to see the differences among various data and events.

Rearranging the elements to see the similarities and differences, evaluating parts of the situation to look for patterns that emerge.

The spontaneous breakthrough that causes the lightbulb to go on.

Taking some time to reflect on information.

Validating the data as accurate.

The goal of this is to subject the idea to the test of reality.

Transforming the idea into reality.

How many steps are there to getting a patent?

An invention is patentable if it is known or has been used in the US.

Investors verify the date on which the idea was concieved.

Investors conduct look for patents on similar products to verify it is new, not obvious and useful.

Investors examine the outcomes to determine the chances of getting a patent.

A device can be similar to everything before it, but not obvious to a person of ordinary skills.

An application must include specific claims that describe the invention.

Examiner studies the application to determine whether the invention warrants a patent.

How long does a patent last?