Quiz Two MIST

Which part of the business model canvas refers to the actions a company must take to operate successfully?

Key Activities

Customer Segment

a group of customers with common needs, common behaviors, or other attributes

Value Proposition

the benefit or bundle of benefits that a company offers customers

What are the three components of every digital business model?

Content, Experience, and Platform

Key Resources

The most important assets required to make a business model work.

T/F: It is possible for organizations partner up with others in a business model to acquire knowledge, licenses or access to customers.

True

Cost Structure

describes all costs incurred to operate a business model

T/F: To be able to discuss and communicate over the business model of an organization one needs to read and understand several pages of text description.

False

What business model involves serving two or more interdependent market segments, and typically involves a platform to bring the two customers together?

Multi-Sided

Which of the following is NOT an example of an organization maintaining a customer relationship? - Amazon.com inviting customers to write reviews - A company launching a private online community - Netflix recommending movies and television shows to customers - Airlines paying Rolls-Royce a fee for servicing airline engines - All of the above are examples of organizations maintaining customer relationships

Airlines paying Rolls-Royce a fee for servicing airline engines

Which of the following is/are a true statement about the business model canvas? - Customer groups identify describes who our value proposition targets. - The channel component describes how we will deliver or reach our customers with the value proposition. - The right side of the canvas is generally related to revenue generation, while the left side of the canvas is generally related to costs. - All of the above statements are true. - None of the above statements are true.

All of the above statements are true.

Which of the following does NOT describe a type of key resource - Physical assets such as facilities, buildings, vehicles among others - Designing, making and delivering a product in substantial quantities - Brands, proprietary knowledge, patents and copyrights, partnerships - Cash, lines of credit, stock option pools, financial guarantees - All of the above are key resources

Designing, making and delivering a product in substantial quantities

A business model canvas CANNOT be used to do which of the following - Identify the costs associated with the variety of resources and activities undertaken by the organization to provide the value proposition - Identify the different customer segments and the parts of the business model that are relevant to providing the value proposition to the customer segment - Identify the sequence of primary and support activities within the organization used to generate value for the customer and margin to the organization. - Identify the portions of the business model that are relevant to generating revenue and profit to the organization

Identify the sequence of primary and support activities within the organization used to generate value for the customer and margin to the organization.

Which of the following is NOT one of the phases of the System Development Life Cycle (SDLC)? - Identify the goals of the organization - Design the potential solutions - Position the organization to generate value - Identify the specific requirements of the system - Analyze the existing situation

Position the organization to generate value

What of the following best describes the "bait and hook" business model? - Give a product away and then charge for the premium version. - Find both buyers and sellers and bring them together on your platform. - Integrate primary activities and support activities in the value chain. - Provide products for low or no cost and then make up the profits on complementary products.

Provide products for low or no cost and then make up the profits on complementary products.

Which of the following is NOT a potential revenue stream for the organization's value proposition? - Advertising - Reduction of risk and uncertainty - Subscription fees - Licensing - Asset sale

Reduction of risk and uncertainty

Which of the following is not one of the three trends that drive the importance of moving towards digital business models? - Digitization - Customer Voice - Digital Natives - Value Chain

Value Chain