1. How does the text describe the main sources of entrepreneurial opportunity?

1. personal – entrepreneurs experience or perceive something that others do not
2. secondary research – from industry analyses
3. primary research – from speaking to potential customers to determine their needs
4. observation – of other peoples’ experiences with products and services

2. Social innovation refers to ______.

1. the introduction of novelties; the alteration of what is established by the introduction of new elements or forms
2. new designs, processes, marketing approaches, or a new way of conducting training
3. the means by which entrepreneurs exploit change as an opportunity for a different business or service
4. the introduction of new social practices, activities or ways of organizing

3. Which of the following statements is true?

1. The entrepreneurial process starts with creativity and the task of generating new ideas.
2. The creativity process starts with innovation and the task of generating new ideas.
3. The idea generation process starts with creativity and the task of innovation.
4. The innovation process starts with creativity and the task of generating new ideas.

4. Which of the following statements is correct?

1. Entrepreneurial activity is not always particularly creative.
2. Entrepreneurial activity is always creative.
3. Creativity is always entrepreneurial.
4. Entrepreneurial activity is not always creative but has to be innovative.

5. Entrepreneurial opportunities are a particular type of opportunity, which could lead you to create a self-sustaining venture.

1. False
2. True

6. Porter also argues that much of innovation is ‘dependent on a single, major technological breakthrough rather than mundane and incremental’

1. True
2. False

7. To identify and exploit opportunities before they become apparent to others, entrepreneurs need ______.

1. creative thinking
2. alertness and vision
3. good contacts
4. a good education