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Midterm exam
Elect 33
I.
1. Is a new idea, method, strategy, or the act of introducing something new.
2. The willingness of an individual or group of people to take risks and organize or develop
business opportunities from ideas in an evolving market.
3. Simply taking the lessons, skills and overall technology and applying them within a
different market.
4. It involves applying new technology or processes to your company’s current market.
5. What is innovation?
6. This can be a business model, idea, service, or process.
7. It identifies the opportunities in great innovations and creates opportunity, adds value,
and keeps the value improving over a period of time.
8. The most common form of innovation where it utilizes your existing technology and
increases value to the customer (features, design changes, etc.) within your existing
market.
9. Also known as stealth innovation
10. It gives birth to new industries (or swallows existing ones) and involves creating
revolutionary technology.
11. What are the five stages of successful innovation?
12. Importance and need for edp.
13. Stages in the edp.
14. Strategies for edp.
15. What is entrepreneurship development program?
16. Contributions of entrepreneurship development program to the economy.
17. What is motivation?
18. 2 Theories of Motivation.
19. What is Content Theory?
20. What is Process Theory?
21. Skinner’s Reinforcement Theory.
22. Motivation that drives people to engage in Entrepreneurship.
23. List the Internal Environment Motivations.
24. List the External Environment Motivation.
II. Describe each in your own words.

1. Innovation

2. Entrepreneurship

3. EDP

4. Motivation

III. Maslow’s Hierarchy of Needs

1. Innovation
2. Entrepreneur
3. Architectural innovation
4. Disruptive innovation
5. The process of creating something new.
6. Innovation
7. Entrepreneurship
8. Incremental innovation
9. Disruptive innovation
10. Radical innovation
11. Idea generation and mobilization. Advocacy and screening. Experimentation.
Commercialization. Diffusion and implementation.
12. Growth of entrepreneurship. Creation of job opportunities. Innovation. Impact on
community development. The consequence of business failure. Spawns entrepreneurship.
Enhances the standard of living.
13. Finding a business idea. Building a team. Creating a business plan. Raising capital.
Launching your business. Growing your business. Exiting your business.
14. Creation of training programs that promote personal growth and confidence of
entrepreneurs.
Promoting an ecosystem that nurtures entrepreneurs
15. A programme designed to help an individual in improving his/ her entrepreneurial
motive and in acquiring skills and capabilities necessary for playing his/ her
entrepreneurial role effectively.
16. Creates employment opportunities. Helps in achieving balanced regional
development. Prevents industrial slums. Use of local resources. Easing social tension.
Economic independence.
17. As a process that motivates action of a persons and induce him to continues in the
course of action for the achievement of goals. It is an ongoing process because human
needs/goals are never completely satisfied.
18. Content Theory and Process Theory
19. Focus on the whats of motivation
20. Focus on the hows of motivation like how to become motivated.
21. Positive Reinforcement. Negative Reinforcement. Punishment Reinforcement.
Extinction Reinforcement.
22. Money. Control. Flexibility. Legacy.
23. Self-motivation. Education. Background.
24. Influence. Resources availability. Technological Advancement.
III.