Business Model and Entrepreneurship Worksheet

What is the simplest definition of a business model?

• A legal document for a company

• A strategy for hiring staff

• How you plan to make money

• A customer survey tool

Which of the following best describes entrepreneurship?

• Managing customer complaints

• Exploiting new opportunities with innovation

• Copying existing products

• Following traditional markets

What is a value proposition?

• The total cost of a product

• A list of features

• A reason customers should choose your product

• A type of business loan

The Value Proposition Canvas helps you…

• File taxes

• Create social media ads

• Match your product to customer needs

• Hire employees

Which part of the business model explains how you make money?

• Key partners

• Revenue streams

• Customer segments

• Value map

What does "value" mean in a business context?

• Popularity

• Usefulness or worth to the customer

• Cost of production

• Employee salary

Which of the following is NOT part of the Business Model Canvas?

• Revenue streams

• Product warranty

• Channels

Which question is most relevant to a value-based business?

• What is my cheapest supplier?

• What products do I like to sell?

• What value am I offering my customer?

• How much inventory do I hold?

What is a common feature of 'freemium' business models?

• Free samples given in stores

• Free access with optional paid upgrades

• No costs or income

• Monthly giveaways

Which example shows a 'follow the money' approach to business models?

• Selling only one product type

• Limiting customer access

• Finding creative ways to generate income

• Avoiding customer feedback