Entrepreneurship QUIZ
What is the first thing you enter into each section of the Business Model Canvas?
A guess
What is a startup?
A portfolio of activities that become a company
A start-up restaurant would need this key resource to deliver its value proposition.
An oven
A business knows if their product delivers benefit to customers by _________________.
Asking them
The cost structure portion of the Business Model Canvas analyzes __________.
Cost of key resources and activities
What is an example of a revenue stream for Amazon?
Credit payments through the website
Which of the following is one of the Five Principles of The Lean Startup?
Entrepreneurs are everywhere
Why are customer relationships important?
Fosters repeat sales
When considering key activities on the Business Model Canvas, what is one important factor?
How do the key activities improve the value proposition?
On the Business Model Canvas, what are channels?
How value is delivered to customers
If data shows customers are not buying a company's product, it should ____________.
Iterate and pivot
How do businesses know if they have a product customers will buy?
Measure customer behaviors
Which of the following are Key Partners in the Business Model Canvas?
People or companies with whom you do business
According to The Lean Startup, what is value?
Providing benefit to the customers
A value-driven company prioritizes ______________.
Quality
What is the purpose of the Build-Measure-Learn feedback loop?
Take what you learn and use it to improve
What method is used to determine if your business model is on the right track?
The scientific method
Which components of the Business Model Canvas should be addressed first?
Value proposition and customer segments
Which of the following are elements of the Business Model Canvas?
Value propositions and customer segments
What is a business model?
describes the rationale of how an organization creates, delivers, and captures value