entrep

It is a strategic management tool that lets you visualize and assess your business idea and concept.

• Business Model

• Business Model Canvas

• Business Model Generation

It is simply a plan describing how a business intends to make money.

• Business Model

• Business Model Canvas

• Business Model Generation

It explains who your customer base is and how you deliver value to them and the related details of financing.

• Business Model

• Business Model Canvas

• Business Model Generation

A one-page document containing nine boxes that represent different fundamental elements of a business.

• Business Model

• Business Model Canvas

• Business Model Generation

It serves as a visual framework for planning, developing and testing the business model(s) of an organization.

• Business Model

• Business Model Canvas

• Business Model Generation

Which of the following is not a component of the Business Model Canvas?

• Key Partners

• Key Activities

• Key Instruments

• Key Resources

• Cost Structure

Which of the following is not correct about Business Model Canvas?

• The BMC provides a quick overview of the business model.

• The BMC is devoid of unnecessary details compared to the traditional business plan.

• The BMC clarifies how institutions are related to each other.

• The BMC can be used by large corporations as well as start-ups with just a few employees.

Answer explanation

The BMC clarifies how different aspects of the business are related to each other.

a.) The visual nature of the business model canvas makes it easier to refer to and understand by anyone.

b.) The business model canvas is easier to edit and it can be easily shared with employees and stakeholders.

• Statement A is TRUE, statement B is FALSE

• Statement A is FALSE, statement B is TRUE

• Both statements A & B are TRUE

• Both statements A & B are FALSE

a.) There are nine building blocks in the business model canvas,

b.) These are customer value proposition, customer segments, channels, customer relationship, revenue streams, key resources, key intermediaries, and cost structure.

• Statement A is TRUE, statement B is FALSE

• Statement A is FALSE, statement B is TRUE

• Both statements A & B are TRUE

• Both statements A & B are FALSE

Answer explanation

Key intermediaries = Key Activities

These are the groups of people or companies that are trying to target and sell your products or services

• Revenue Streams

• Customer Segments

• Key Resources

• Cost Structure