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Creative Entrepreneurship > M7 > Flashcards

M7 Flashcards

1
Q

biases

A

negative consequences for decision-making when innovation is the goal

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2
Q

Projection Bias

A

naive realism

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3
Q

Ideation

A

the process of generating, developing and testing new ideas

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4
Q

New venture ideation

A

offering a novel and useful idea to customer who may reject it

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5
Q

Practical Imagination
“thinking things through”

A

eliminating the feasibility and desirability

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6
Q

Social Imagination

A

facilitates communication and market responsiveness

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7
Q

parts of entrepreneurial imaginativeness

A

creative, social , practical imagnativeness

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8
Q

Forms of entrepreneurial imaginativeness

A

creative, social , practical imagination

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9
Q

aspects of the problem-solving process

A

divergent aspect: generating ideas
convergent aspect: selecting ideas

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10
Q

creative imagination

A

make connections between unrelated pieces of information

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11
Q

third-person opportunity belief

A

Opportunities arising from technological change

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12
Q

mental simulation

A

relies on imagination’s cognitive ability to anticipate physical and social environments

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13
Q

Counterfactual thinking

A

mental construction of scenarios

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14
Q

Types of cognitive biases

A

Planning fallacy
Endowment effect
Availability biases
Focusing illuison

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15
Q

Egocentric empathy gap

A

overestimate the similarities between values

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16
Q

Focusing Illusion

ex (not passing the DSA midterm )

A

overestimate the effect of one factor

17
Q

The endowment effect

ex. loosing the iphone XR

A

giving something up is more painful that the pleasure of getting something new

18
Q

The availability bias

ex Creating a solution to the NST Project

A

undervalue options that are harder to imagine

19
Q

The planning fallacy

ex. Computer vision midterm

A

When decision makers succeed at creating new ideas and they are overconfident, and full with optimism during the process

20
Q

Mitigating biases Category I
“inability to see beyond”

A

inability to see beyond decision-makers and escape their own past

21
Q

Mitigating biases Category II
“accurate feedback”

A

inability of their users or customers to provide accurate feedback on new ideas

22
Q

Mitigating biases Category III
“test the hypothesis”

A

decision-makers’ ability to test the hypotheses they have developed: overoptimism,

Creative Entrepreneurship (7 decks)

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