Business Value for Business Model

What is the definition of business value?

• A financial metric that only measures profits

• The measurable impact that contributes to a company's growth and success

• The cost of a project

• A method to calculate employee satisfaction

Which of the following is an example of a tangible asset?

• Intellectual property

• Employee satisfaction

• Cash reserves

• Brand reputation

Which of the following is an example of an intangible asset?

• Machinery

• Land

• Goodwill

• Factory buildings

How can a business create value by increasing revenue?

• Cutting operational inefficiencies

• Expanding into new markets and introducing new products

• Reducing employee benefits

• Outsourcing customer service

Which of the following describes how businesses can reduce costs?

• Launching a new product line

• Automating routine tasks and streamlining supply chains

• Expanding into international markets

• Increasing employee salaries

How does IT contribute to business value creation?

• By automating repetitive tasks and improving transaction speeds

• By making manual work more complex

• By reducing the need for communication tools

• By eliminating the need for employee training

Which of the following is an example of improving customer satisfaction?

• Offering instant customer support via chatbots

• Increasing the price of products

• Reducing the number of customer support staff

• Ignoring customer feedback

What role does innovation play in business value creation?

• It hinders the ability to stay competitive

• It encourages continuous improvement and helps businesses stay ahead of trends

• It is only relevant in the technology sector

• It reduces the need for research and development

Which of the following is a benefit of business analytics?

• It provides data-driven insights for improved decision-making

• It decreases customer insights

• It complicates resource allocation

• It prevents businesses from expanding into new markets

What is the main function of descriptive analytics?

• Predicting future outcomes

• Recommending specific actions based on data

• Explaining what has happened in the past using historical data

• Preventing business processes from changing