QUIZ 2

The question "for whom are you creating value?" is best answered by what component of the Business Model Canvas?

Customer Segment

Although critically important to the economy, young business/startups don't provide the same impact from a job creation standpoint as mature firms.

False

During the business planning process the entrepreneur should spend zero time focusing on the uncertainties and external risks surrounding the model and instead pay attention only to the know components within their control.

False

Library resources and databases serve as a great source of primary information for business plan development.

False

The Business Model Canvas is meant to be a static document and not iterated upon.

False

Unfortunately it is not possible to find detailed information about a business' finances unless it is publicly traded company.

False

According to the BMC lecture what component most adequately outlines "differentiation" from competitors.

Key Activities

Hard assets such as specialized manufacturing equipment would be outlined in what component of the Business Model Canvas?

Key Resources

Calculating the size of a given customer market can be helpful to determine whether or not it is worth an entrepreneur's time and resources to pursue their business idea.

True

What component of the Business Model Canvas best describes your proposed solution?

Value Proposition