Business Models...test your knowledge

Business Models...test your knowledge

University

10 Qs

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Business Models...test your knowledge

Business Models...test your knowledge

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Vivian Valer

Used 2+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

According to Peter Drucker, what is a key component of a business model?

A set of financial projections
A marketing plan
A set of assumptions about markets, customers, and company strengths
A legal framework

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

How did Michael Lewis describe the business model concept during the dot-com bubble?

As a tool for structuring business plans
As a term that glorified poorly planned internet ventures
As an outdated business strategy
As a way to increase profit margins

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What two key questions does Joan Magretta believe a good business model should answer?

“Who is the customer?” and “What does the customer value?”
“How do we increase revenue?” and “What are our competitors doing?”
“What is our market share?” and “How can we expand globally?”
“What are our operational costs?” and “How do we reduce them?”

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What role did spreadsheets play in the evolution of business models?

They enabled companies to test assumptions and model businesses before launching
They helped companies automate customer service
They replaced traditional business strategies
They became the primary tool for financial transactions

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

According to Alex Osterwalder, what are the nine key components of the Business Model Canvas?

Value proposition, customer segments, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure
Product development, revenue goals, marketing, sales strategy, leadership, financial planning, risk management, logistics, and legal compliance
Branding, advertising, customer service, product management, financial planning, investor relations, supply chain, operations, and human resources
Competitor analysis, pricing strategies, cost-cutting measures, sustainability efforts, risk assessment, employee training, global expansion, innovation, and consumer trust

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

How does a business model differ from a competitive strategy?

A business model is solely about financial planning, while strategy covers all aspects of business
A business model explains how a company operates, while a strategy defines how it competes and outperforms rivals
A business model is only relevant for startups, while strategy is for established firms
Business models and strategies are identical concepts

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What is a disruptive innovation in the context of business models?

A business model that introduces a better product at a higher price
A traditional approach to market expansion
Introducing a better business model into an existing market to challenge industry norms
A model that relies solely on digital marketing

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