I. IDEA GENERATION
1. What is a common source of idea generation that involves unmet customer needs?
A. Market gaps or customer pain points
B. SWOT analysis
C. Financial forecasting
D. Business model canvas
A. Market gaps or customer pain points
5. Which source of ideas involves analyzing rivals to find gaps or improve existing products/services?
A. Personal experience
B. Market gaps
C. Competitor analysis
D. Crowdsourcing
C. Competitor analysis
11. What is the primary purpose of idea evaluation?
A. Create business models
B. Determine the best funding source
C. Assess feasibility and potential before pursuing an idea
D. Recruit a team
C. Assess feasibility and potential before pursuing an idea
1. Which of the following best describes the key difference between entrepreneurship and intrapreneurship?
A. Entrepreneurs take more risks than intrapreneurs
B. Intrapreneurs innovate within existing companies while entrepreneurs start new businesses
C. Entrepreneurs focus on profit while intrapreneurs focus on innovation
D. Intrapreneurs have more resources than entrepreneurs
B. Intrapreneurs innovate within existing companies while entrepreneurs start new businesses
16. What tool visually maps how a product delivers and captures value using 9 building blocks?
A. Business Model Canvas
B. SWOT Analysis
C. Design Thinking
D. Mind Map
A. Business Model Canvas
2. Which technological development led to innovations like cryptocurrency and DeFi?
A. Cloud computing
B. Blockchain technology
C. Artificial Intelligence
D. Mobile apps
B. Blockchain technology
6. A nurse develops non-slip socks after observing frequent patient falls. This idea is based on:
A. Employee feedback
B. Personal experience and expertise
C. Regulatory change
D. New technology
B. Personal experience and expertise
12. A nurse plans a medication reminder app for seniors. What would determine if the idea is realistic with current resources?
A. Profit potential
B. Feasibility
C. Scalability
D. SWOT
B. Feasibility
5. What inspired Sara Blakely to create Spanx?
A. Market research data
B. Customer feedback surveys
C. Personal experience with existing products
D. Competitor product analysis
A. Market research data
17. What is the main goal of financial forecasting?
A. Identify competitors
B. Estimate idea generation sources
C. Predict costs, revenue, and breakeven points
D. Gather staff feedback
C. Predict costs, revenue, and breakeven points
3. A nurse creates a telehealth wound care service for rural patients. This is an example of using:
A. Competitor analysis
B. Employee feedback
C. New technology
D. Market demand
C. New technology
7. Which of the following is NOT a formal technique for idea generation?
A. SCAMPER
B. SWOT analysis
C. Brainstorming
D. Budget forecasting
D. Budget forecasting
13. What criterion evaluates whether an idea can grow and impact more people or locations?
A. Competitive Advantage
B. Scalability
C. Risk level
D. Revenue stream
B. Scalability
18. Which approach best demonstrates fostering a culture of innovation in healthcare?
A. Implementing strict protocols
B. Increasing staff workload
C. Reducing operational costs
D. Creating an innovation lab with regular pitch events
D. Creating an innovation lab with regular pitch events
18. What is an MVP in the innovation process?
A. Market Value Product
B. Minimum Viable Product
C. Most Valuable Prototype
D. Managed Value Proposal
B. Minimum Viable Product
10. What stage of Design Thinking involves creating a basic model of a solution to test with users?
A. Define
B. Prototype
C. Empathize
D. Ideate
B. Prototype
8. What is the goal of brainstorming?
A. Evaluate an idea's risk
B. Find the best idea quickly
C. Generate a high quantity of ideas without judgment
D. Define a business model
C. Generate a high quantity of ideas without judgment
14. What factor checks if the idea brings something new or better than existing solutions?
A. Market research
B. Feasibility
C. Competitive advantage
D. Financial forecasting
C. Competitive advantage
17. What was the outcome of the pediatric nurse's innovation with the distraction kit?
A. Reduced procedure time and patient anxiety
B. Increased hospital revenue
C. Better staff satisfaction
D. Lower operational costs
A. Reduced procedure time and patient anxiety
19. Gathering insights from patients, nurses, and experts to refine an idea is called:
A. Crowdsourcing
B. SWOT
C. Expert and stakeholder feedback
D. Prototyping
C. Expert and stakeholder feedback
4. What triggered the innovation of biodegradable packaging by many startups?
A. Technological advances
B. Consumer complaints
C. Social media trends
D. Regulatory changes (e.g., single-use plastic bans)
D. Regulatory changes (e.g., single-use plastic bans)
9. Which technique encourages thinking by modifying existing ideas using steps like Substitute, Combine, and Adapt?
A. Design Thinking
B. Crowdsourcing
C. SCAMPER
D. SWOT
C. SCAMPER
15. Which evaluation factor considers patient data privacy and legal regulations?
A. Risk level
B. Scalability
C. Cost structure
D. Value proposition
A. Risk level
19. What is the primary purpose of market research and validation?
A. To generate new ideas B. To calculate potential profits
C. To identify competitors D. To verify real demand for the idea
D. To verify real demand for the idea
20. What method involves gathering feedback or ideas from a large group, often online?
A. Design Thinking
B. Financial analysis
C. Crowdsourcing
D. Mind Mapping
C. Crowdsourcing