Three Dimensional Business Model

Professor Derek Abel's model defines a business using a three-part approach: understanding customer needs, identifying customer segments, and determining how to deliver value. This model emphasizes the importance of customer needs, market segmentation, and the processes required to meet these needs, focusing on how value is delivered through technology and other efforts.

What is the primary focus of traditional business models?

• Customer needs and wants

• Resource capabilities, products, and markets

• Technological advancements

• Employee satisfaction

Which aspect is NOT considered in the first axis of the three-dimensional business model?

• Customer wants

• Customer demographics

• Customer needs

• Customer desires

What does the second axis of the model focus on?

• Identifying customer segments

• Developing new products

• Reducing operational costs

• Improving employee skills

Which of the following is NOT a component of delivering value according to the model?

• Customer feedback

• Processes

• Supplies

• Marketing

What is the main focus of the third axis in the business model?

• Understanding customer desires

• Delivering value through technology

• Expanding market reach

• Enhancing product quality