Chapter 6, Jeopardy - Copy

Entrepreneurial Problem-Solving

100

What is entrepreneurial problem-solving?

• A) A process focused on day-to-day operations.
• B) Using innovation and creativity to close gaps by solving societal, business, or technological problems.
• C) Making decisions with complete information.
• D) Replicating competitor strategies.

• B) Using innovation and creativity to close gaps by solving societal, business, or technological problems.

200

What is an opportunity gap?

• A) The difference between the current state of a product and what could be done to meet an unmet need.
• B) A gap in profit margins.
• C) A decision-making process in problem-solving.
• D) The difference between two businesses' revenue.

A) The difference between the current state of a product and what could be done to meet an unmet need.

300

Which of the following is the main goal of entrepreneurial problem-solving?

• A) Finding innovative solutions to gaps in the market.
• B) Reducing costs.
• C) Maximizing profits quickly.
• D) Outperforming competitors.

• A) Finding innovative solutions to gaps in the market.

400

Who founded Spanx after identifying an opportunity gap in women’s clothing?

• A) Sara Blakely
• B) Jeff Bezos
• C) Elon Musk
• D) Tim Brown

• A) Sara Blakely

500

Which key skill involves deeply analyzing a problem before developing a solution?

• A) Communication
• B) Data analysis
• C) Critical thinking
• D) Decisiveness

• C) Critical thinking

600

What is a significant difference between decision-making and entrepreneurial problem-solving?

• A) Decision-making always leads to innovation.
• B) Entrepreneurial problem-solving requires complete information.
• C) Decision-making doesn't involve risks.
• D) Entrepreneurial problem-solving focuses on identifying gaps and opportunities.

• D) Entrepreneurial problem-solving focuses on identifying gaps and opportunities.

Problem-Solving Models

100

Which problem-solving model relies on using tested, established methods?

• A) Innovative Model
• B) Adaptive Model
• C) Theoretical Model
• D) Petitioning Model

• B) Adaptive Model

200

The innovative model of problem-solving is characterized by:

• A) Focusing on efficiency.
• B) Using traditional methods.
• C) Avoiding creativity.
• D) Seeking new, sometimes risky, approaches.

• D) Seeking new, sometimes risky, approaches.

300

Which of the following is NOT a key characteristic of the innovative model?

• A) Taking risks.
• B) Redefining problems.
• C) Using proven methods.
• D) Finding novel solutions.

• C) Using proven methods.

400

Which of the following is an example of the adaptive problem-solving model?

• A) Developing a new social media platform.
• B) An entrepreneur developing a new disinfection method.
• C) Hospitals using handwashing protocols to reduce infections.
• D) Using creativity to redesign an existing product.

• C) Hospitals using handwashing protocols to reduce infections.

500

In which situations would the innovative model of problem-solving be more effective?

• A) When efficiency is the top priority.
• B) When the problem requires creative, novel solutions.
• C) When using proven methods is sufficient.
• D) When stability is needed.

• B) When the problem requires creative, novel solutions.

600

Which model focuses on redefining problems and finding new solutions?

• A) Adaptive Model
• B) Innovative Model
• C) Traditional Model
• D) Critical Thinking Model

• B) Innovative Model

Lean Problem-Solving

100

Which of the following is the first step in the Lean Problem-Solving process?

• A) Set targets.
• B) Implement a solution.
• C) Clarify the problem.
• D) Analyze data.

• C) Clarify the problem.

200

What is the "5 Whys" technique used for in Lean Problem-Solving?

• A) To identify the root cause of a problem.
• B) To find the most cost-effective solution.
• C) To develop multiple solutions quickly.
• D) To evaluate the success of a project.

• A) To identify the root cause of a problem.

300

What is the purpose of setting measurable targets in Lean Problem-Solving?

• A) To adjust the problem definition.
• B) To monitor competitors.
• C) To brainstorm potential solutions.
• D) To ensure that success can be measured accurately.

• D) To ensure that success can be measured accurately.

400

What is the focus of Lean Problem-Solving in businesses?

• A) Reducing prices for customers.
• B) Creating new products.
• C) Improving efficiency and minimizing waste.
• D) Avoiding market risks.

• C) Improving efficiency and minimizing waste.

500

Which step in the Lean Problem-Solving process comes after analyzing the problem?

• A) Clarify the problem.
• B) Set targets.
• C) Identify root causes.
• D) Implement the solution.

• B) Set targets.

600

What does "Genchi Genbutsu" mean in the Lean Problem-Solving process?

• A) Go and see the problem firsthand.
• B) Measure progress at every step.
• C) Brainstorm creative solutions.
• D) Gather input from stakeholders.

• A) Go and see the problem firsthand.

Design Thinking

100

What is the first step in the design thinking process?

• A) Ideate
• B) Empathize
• C) Prototype
• D) Test

• B) Empathize

200

What is the main purpose of empathizing in design thinking?

• A) To brainstorm ideas.
• B) To test the final solution.
• C) To understand the user's needs and emotions.
• D) To define the problem.

• C) To understand the user's needs and emotions.

300

Which step of design thinking focuses on generating a wide variety of solutions?

• A) Empathize
• B) Define
• C) Prototype
• D) Ideate

• D) Ideate

400

Which of the following is a technique for generating ideas during the ideation phase of design thinking?

• A) Root Cause Analysis
• B) Brainstorming
• C) Setting Targets
• D) SWOT Analysis

• B) Brainstorming

500

Why is prototyping important in design thinking?

• A) To test ideas quickly and learn from failures.
• B) To analyze user feedback.
• C) To empathize with users.
• D) To finalize the design.

• A) To test ideas quickly and learn from failures.

600

How does the design thinking process help entrepreneurs solve problems?

• A) By eliminating risks in business.
• B) By focusing solely on profit-making.
• C) By following a rigid, predefined process.
• D) By using a human-centered approach to create innovative solutions.

• D) By using a human-centered approach to create innovative solutions.

Creative Problem-Solving Process

100

Which tool is used during the "Clarify" step of the creative problem-solving process to identify causes of a problem?

• A) Fishbone Diagram
• B) SWOT Analysis
• C) Brainstorming
• D) Crowdsourcing

• A) Fishbone Diagram

200

What is the main focus of the "Ideate" step in the creative problem-solving process?

• A) Implement the solution.
• B) Set goals.
• C) Generate as many ideas as possible.
• D) Evaluate solutions.

• C) Generate as many ideas as possible.

300

During the "Evaluate" step of the creative problem-solving process, what should entrepreneurs focus on?

• A) Identifying root causes.
• B) Generating more ideas.
• C) Setting measurable targets.
• D) Testing and adjusting the solution if needed.

• D) Testing and adjusting the solution if needed.

400

What does "Brainstorming" aim to achieve in the creative problem-solving process?

• A) Prioritizing solutions.
• B) Generating a large number of ideas without judgment.
• C) Evaluating the effectiveness of each solution.
• D) Analyzing past data.

• B) Generating a large number of ideas without judgment.

500

What is the last step in the creative problem-solving process?

• A) Clarify
• B) Develop
• C) Ideate
• D) Evaluate

• D) Evaluate

600

What is the purpose of the "Develop" step in the creative problem-solving process?

• A) To finalize the solution.
• B) To brainstorm more ideas.
• C) To evaluate the feasibility of each idea, considering costs and trade-offs.
• D) To clarify the problem.

• C) To evaluate the feasibility of each idea, considering costs and trade-offs.