5.7 Review Questions
- According to Ash Maurya’s typology, Airbnb is an example of what type of business model?
- direct
- multisided
- open
- marketplace
- Which startup grew from a failed podcasting company called Odeo?
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- StubHub
- Groupon
- What is the job to be done of a milkshake according to Christensen’s team’s customer observation research in the Link to Learning video: https://www.youtube.com/watch?v=m3mVM_koAio&feature=youtu.be?
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- employ Chick-Fil-A cows
- accompany on a long morning commute
- placate children
- satisfy hunger
- What is a change, typically minor, of the current business model in an attempt to capitalize on a closely related market opportunity?
- innovation
- disruption
- iteration
- increment
- A tool to identify your idealized target customer and develop a better understanding of their environment, behavior, concerns, and aspirations.
- jobs to be done
- business plan
- business model canvas
- empathy map
- A ________ is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives.
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- business plan
- business model
- customer empathy map
- revenue model
- Select the item that does not belong to the business model canvas.
-
- market size
- revenue streams
- value proposition
- customer segments
- The finished story benefit formula of [end customer wants] + [specific period of time] + [address objections] is designed for what component of the lean model canvas?
-
- unfair advantage
- unique value proposition
- early adopters
- high concept pitch
- How does the social business model canvas differ from the business model canvas and lean model canvas?
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- is only used by nonprofit company
- doesn’t have customer block and investment bloc
- has profit block to talk about ways the company can makes more money
- has impact measure, surplus, beneficiary segments, and social and customer value proposition
- Which of the following has the purpose of evaluating the team, the market for the concept, the financial viability, and possible pitfalls?
-
- feasibility analysis
- market analysis
- financial analysis
- management analysis
- Which of the following has the purpose of forecasting revenue and expenses, projecting a financial narrative, estimating project cost, and projecting cash flow?
-
- feasibility analysis
- market analysis
- financial analysis
- management analysis
- Which of the following identifies competitors and quantifies target customers and/or users in a specific industry?
-
- feasibility analysis
- market analysis
- financial analysis
- management analysis
- What assesses the prowess of the management and sufficiency of resources to bring the product or idea to market?
-
- management analysis
- operational feasibility analysis
- financial analysis
- cash flow
- What are expenses that do not vary with the level of sales, such as rent, salaries, utilities, insurance and other operating expenses?
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- fixed costs
- variable costs
- balance sheet
- cash flow statements
- Which of the following is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives?
-
- business plan
- business model
- customer empathy map
- revenue model
- Which of these is not the purpose of a business plan?
-
- thoroughly explain a business idea and how it will be carried out
- planning tool and working plan over the course of several years
- requirement to start a business
- planning for “what-if” scenarios and explore new options
- Which of these components are not in a business plan?
-
- business description
- industry and market analysis
- financial analysis
- None of these options is correct.
- Estimated profits and expenses of the business is included in which of the following?
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- financial analysis
- industry and market analysis
- operation plan
- marketing plan
- Who is best suited to write a business plan?
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- investor
- founder(s)
- consultant
- chief financial officer