Question 1

The book states that the many proposals boil down to the conclusion that a business model should contain four dimensions. Which two are incorrect?

Accepted Answer

A)  profit formula 
B)  mission 
C)  key resources 
D)  key processes 
E)  strategic analysis
F) value proposition 
A)  profit formula 
B)  mission 
C)  key resources 
D)  key processes 
E)  strategic analysis
F) value proposition

Question 2

Social enterprise means that a person does not maximize profits.

Accepted Answer

A) True 
 B)False

Question 3

Social enterprise means that people see new opportunities to solve social problems in new ways, that resources are deployed in new combinations and new ways, and that the new vision is pursued in ways that create social value.

Accepted Answer

A) True 
 B)False

Question 4

Platforms focus on achieving positive network effects and economy of scale.

Accepted Answer

A) True 
 B)False

Question 5

Open innovation and closed innovation are two innovation principles addressed in the book. Which concepts and ideas are connected to open innovation? (four are correct)

Accepted Answer

A)  The smart people in our industry work for us. 
B)  In order to benefit from research and development, we must discover, develop and release products on the market on our own. 
C)  If we use both internal and external ideas in the best manner, we'll come out ahead. 
D)  If we pave the way in research in our branch, we'll come out ahead. 
E)  We will benefit when the competition uses our innovations, and will use the competition's innovations when it strengthens us.
F) We must work with smart people both in our company and in other companies.
G) We must control our innovation process, so that the competition is unable to benefit from our ideas.
H)We do not have to do the research in order to benefit from the research results others have uncovered. 
A)  The smart people in our industry work for us. 
B)  In order to benefit from research and development, we must discover, develop and release products on the market on our own. 
C)  If we use both internal and external ideas in the best manner, we'll come out ahead. 
D)  If we pave the way in research in our branch, we'll come out ahead. 
E)  We will benefit when the competition uses our innovations, and will use the competition's innovations when it strengthens us.
F) We must work with smart people both in our company and in other companies.
G) We must control our innovation process, so that the competition is unable to benefit from our ideas.
H)We do not have to do the research in order to benefit from the research results others have uncovered.

Question 6

The book emphasizes the idea of the business model as a system constructed to create value. What does this systematic school of thought believe?

Accepted Answer

A)  it emphasizes the building blocks 
B)  it emphasizes the value-creating whole, its parts and the relations between the parts 
C)  it emphasizes the whole 
D)  it emphasizes the relations between the parts 
A)  it emphasizes the building blocks 
B)  it emphasizes the value-creating whole, its parts and the relations between the parts 
C)  it emphasizes the whole 
D)  it emphasizes the relations between the parts

Question 7

The Value Curve is a diagnostic tool to identify the most important value-creating components in one's proposition and to clarify its strategic profile.

Accepted Answer

A) True 
 B)False

Question 8

A section in the book is entitled From Pipes to Platforms - toward a new value-driving logic. Pipes are linear one-way flows with active producers and passive receivers/customers.

Accepted Answer

A) True 
 B)False

Question 9

The concept of platform governance is developed in the book. This term can be defined as the way in which the platform owner directs the platform environment, for example arranging a space for attractive meetings (technicalities, legalities, meeting rules, marketing, etc.).

Accepted Answer

A) True 
 B)False

Question 10

Match the business model headings with the question addressed beneath each heading.
-Key Resources

Accepted Answer

A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer? 
A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer?

Question 11

Blue Ocean Strategy is a book on management and strategy that argues that in highly competitive situations, where the pressure to cut prices is often very high, one should try to outprice one's competitors.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following are NOT main elements of the Business Model Canvas?

Accepted Answer

A)  Effects 
B)  Stakeholders 
C)  Revenue streams 
D) Channels 
E)  Cost structure
F) Customer relationships
G) Customer segments
H)Mission
I)Key activities
J)Key partners/networks
K)Key resources
L)Society
M)Our values
N)Value proposition 
A)  Effects 
B)  Stakeholders 
C)  Revenue streams 
D) Channels 
E)  Cost structure
F) Customer relationships
G) Customer segments
H)Mission
I)Key activities
J)Key partners/networks
K)Key resources
L)Society
M)Our values
N)Value proposition

Question 13

Match the business model headings with the question addressed beneath each heading.
-Key Partners/Networks

Accepted Answer

A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer? 
A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer?

Question 14

In some cases, often entirely web-based, the costs of reaching the customer with both information about the product/service and the product itself are practically non-existent. The variable costs, thereby, are nearly zero.

Accepted Answer

A) True 
 B)False

Question 15

Social enterprise means that profits are excluded.

Accepted Answer

A) True 
 B)False

Question 16

The book states that one should always strive to maximize revenue and minimize costs.

Accepted Answer

A) True 
 B)False

Question 17

A platform offers users (producers and consumers) a meeting place that creates value by facilitating an exchange and interaction between the parties.

Accepted Answer

A) True 
 B)False

Question 18

Match the business model headings with the question addressed beneath each heading.
-Financial Aspects

Accepted Answer

A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer? 
A)  For whom are we creating value ? 
B)  How do we establish and maintain our relation to the customer? 
C)  How do we communicate and deliver? 
D)  What activities are needed to create and deliver our proposition? 
E)  Which income and costs can we expect once we transform the model into reality?
F) What resources are needed to create and deliver our proposition?
G) What partners and networks are needed to create and deliver the offering?
H)What is the offering to the customer?

Question 19

The Four Actions Framework provides companies with four critical ways (eliminate, reduce, increase, create) designed to help a company at least temporarily modify their competitive situation.

Accepted Answer

A) True 
 B)False

Question 20

In order to apply the BMC (business model canvas) to social enterprise, two additional components have been recommended as criteria. What are they?

Accepted Answer

A)  shared values 
B)  social and environmental benefits 
C)  social and environmental costs 
D)  what one wishes to change in the world 
E)  which stakeholders should be involved 
A)  shared values 
B)  social and environmental benefits 
C)  social and environmental costs 
D)  what one wishes to change in the world 
E)  which stakeholders should be involved

The book states that the many proposals boil down to the conclusion that a business model should contain four dimensions. Which two are incorrect?

Social enterprise means that a person does not maximize profits.

Social enterprise means that people see new opportunities to solve social problems in new ways, that resources are deployed in new combinations and new ways, and that the new vision is pursued in ways that create social value.

Platforms focus on achieving positive network effects and economy of scale.

Open innovation and closed innovation are two innovation principles addressed in the book. Which concepts and ideas are connected to open innovation? (four are correct)

The book emphasizes the idea of the business model as a system constructed to create value. What does this systematic school of thought believe?

The Value Curve is a diagnostic tool to identify the most important value-creating components in one's proposition and to clarify its strategic profile.

A section in the book is entitled From Pipes to Platforms - toward a new value-driving logic. Pipes are linear one-way flows with active producers and passive receivers/customers.

The concept of platform governance is developed in the book. This term can be defined as the way in which the platform owner directs the platform environment, for example arranging a space for attractive meetings (technicalities, legalities, meeting rules, marketing, etc.).

Match the business model headings with the question addressed beneath each heading. -Key Resources

Blue Ocean Strategy is a book on management and strategy that argues that in highly competitive situations, where the pressure to cut prices is often very high, one should try to outprice one's competitors.

Which of the following are NOT main elements of the Business Model Canvas?

Match the business model headings with the question addressed beneath each heading. -Key Partners/Networks

In some cases, often entirely web-based, the costs of reaching the customer with both information about the product/service and the product itself are practically non-existent. The variable costs, thereby, are nearly zero.

Social enterprise means that profits are excluded.

The book states that one should always strive to maximize revenue and minimize costs.

A platform offers users (producers and consumers) a meeting place that creates value by facilitating an exchange and interaction between the parties.

Match the business model headings with the question addressed beneath each heading. -Financial Aspects

The Four Actions Framework provides companies with four critical ways (eliminate, reduce, increase, create) designed to help a company at least temporarily modify their competitive situation.

In order to apply the BMC (business model canvas) to social enterprise, two additional components have been recommended as criteria. What are they?

The Rise, Fall and Return of the Entrepreneur

Environment

People

Opportunity

The Process

The Business Models Financial Abcs

Filters

Exam 6: The Business Model

The book states that the many proposals boil down to the conclusion that a business model should contain four dimensions. Which two are incorrect?

Social enterprise means that a person does not maximize profits.

Social enterprise means that people see new opportunities to solve social problems in new ways, that resources are deployed in new combinations and new ways, and that the new vision is pursued in ways that create social value.

Platforms focus on achieving positive network effects and economy of scale.

Open innovation and closed innovation are two innovation principles addressed in the book. Which concepts and ideas are connected to open innovation? (four are correct)

The book emphasizes the idea of the business model as a system constructed to create value. What does this systematic school of thought believe?

The Value Curve is a diagnostic tool to identify the most important value-creating components in one's proposition and to clarify its strategic profile.

A section in the book is entitled From Pipes to Platforms - toward a new value-driving logic. Pipes are linear one-way flows with active producers and passive receivers/customers.

The concept of platform governance is developed in the book. This term can be defined as the way in which the platform owner directs the platform environment, for example arranging a space for attractive meetings (technicalities, legalities, meeting rules, marketing, etc.).

Match the business model headings with the question addressed beneath each heading. -Key Resources

Blue Ocean Strategy is a book on management and strategy that argues that in highly competitive situations, where the pressure to cut prices is often very high, one should try to outprice one's competitors.

Which of the following are NOT main elements of the Business Model Canvas?

Match the business model headings with the question addressed beneath each heading. -Key Partners/Networks

In some cases, often entirely web-based, the costs of reaching the customer with both information about the product/service and the product itself are practically non-existent. The variable costs, thereby, are nearly zero.

Social enterprise means that profits are excluded.

The book states that one should always strive to maximize revenue and minimize costs.

A platform offers users (producers and consumers) a meeting place that creates value by facilitating an exchange and interaction between the parties.

Match the business model headings with the question addressed beneath each heading. -Financial Aspects

The Four Actions Framework provides companies with four critical ways (eliminate, reduce, increase, create) designed to help a company at least temporarily modify their competitive situation.

In order to apply the BMC (business model canvas) to social enterprise, two additional components have been recommended as criteria. What are they?

The Rise, Fall and Return of the Entrepreneur

Environment

People

Opportunity

The Process

The Business Models Financial Abcs

Filters