What is the key difference between the traditional (silo) approach and the enterprise way?

• Centralized information vs isolated data

• More departments vs fewer departments

• Higher profits vs lower profits

• Online systems vs offline systems

Which of the following is NOT a key business process?

• Marketing

• Fulfilment

• Material Management

• Financial Accounting

What is the purpose of a business process?

• To create input

• To create value for the customer

• To reduce employees

• To increase product prices

Michael is the operations manager at a manufacturing company. He needs to ensure that the company can meet future production demands. Which process involves planning for future production needs?

• Procurement

• Fulfilment

• Production Planning

• Material Management

Nora runs a popular app that offers both free and premium features for its users. Users can access basic functionalities without any cost, but they can also choose to subscribe for additional features. What type of business model is Nora using?

• Marketplace Model

• Subscription Model

• Hook and Bait Model

• Freemium Model

In a bustling online marketplace, Priya runs a platform that connects various sellers of handmade crafts with buyers looking for unique gifts. Which model allows Priya's company to act as an intermediary for these buyers and sellers?

• Reverse Auction Model

• On-Demand Model

• Subscription Model

• Marketplace Model

What is dis-intermediation?

• Direct sales from manufacturer to customer

• Increasing middlemen

• Subscription-based service

• Virtual goods in games

Hannah is exploring different ways to monetize her new video game. She is considering various business models that are popular in the gaming industry. Which business model is common in video games?

• Virtual Good Model

• Subscription Model

• Reseller Model

• On-Demand Model

In a bustling tech market, Benjamin runs a software company that offers a basic version of his app for free. However, to access advanced features and premium support, users must purchase additional services. What does Benjamin's hook and bait model rely on?

• Cheap services

• Cheap basic product and expensive complementary products

• Subscription plans

• Free trials

In a busy marketing agency, Evelyn is leading a project that involves multiple teams. She notices that without clear communication, the teams are often confused about their roles and responsibilities. This leads to delays and misunderstandings. Why is effective communication important in business processes?

• It reduces profits

• It causes confusion

• It creates more departments

• It ensures smooth execution