Prior Knowledge and Opportunities
How do Prior information influence the recognition of opportunities?
A) It influences the entrepreneur’s ability to comprehend new information
B) It influences the entrepreneur’s ability to extrapolate new information
C) It influences the entrepreneur’s ability to interpret new information
D) It influences the entrepreneur’s ability to apply new information
E) All of the above
E) All of the above
Which theory describes opportunities as subjective realities?
A) Discovery theory
B) Creation Theory
B) Creation Theory
True or false
Structural relationship relates to the basic parts of a mental representation
How can decision-makers mitigate biases in the idea generation phase?
Options:
- Development of perspective-taking skills (i.e., journey mapping, job-to-be-done analysis)
- Improve ability to imagine the experience of others (i.e., storytelling, methaphors)
- Work in teams, preferably diverse multidisiplinary ones (i.e., visualization, cocreation)
To what theory of entrepreneurial opportunities does the statement “Fundamental attributes of people determine who becomes an entrepreneur” refers to?
The neoclassical equilibrium theories
True or False
A decision-making context is risky if, at the time a decision is being made, decision-makers cannot collect the information needed to anticipate either the possible outcomes associated with a decision or the probability of those outcomes.
The decision-making context is uncertain
What is the main aspect in the process recognition
A) Connecting the dots
B) Believe that the opportunity exists
C) Recognition of the opportunity
D) Good use of the technology
A) Connecting the dots
Fill in:
"That scientists ... the laws that govern today's reality, while designers ... a different future is a common theme."
"That scientists discover the laws that govern today's reality, while designers invent a different future is a common theme."
In the article “Prior knowledge and the discovery of entrepreneurial opportunities” by Shane, S. (2000), explain how prior knowledge influenced the founders of Z Corp on the choice of how to serve the markets compared to the founders of 3D Partners.
Z Corp: because of prior knowledge of entrepreneurs they recognized an opportunity for a tangible product rather than a service. They also had experience in machine design allowing them to build low cost.
3D partners: were unable to recognize a way to manufacture because of their lack of machine design and manafacture knowledge. Therefore, they could only discover the service market.
What could potentially be a flaw of Design Thinking?
Research has demonstrated too much information reduces the quality of decisions. As well as, another paper demonstrated that individual tools (e.g., brainstorming), in the absence of reflection, fail to improve innovation quality.