Question 1

The operations quadrant in the Barringer/Ireland Business Model Template includes three sections. These are ________.

Accepted Answer

A)  product (or service) production, channels, and key partners 
B)  product/market scope, cost structure, and key partners 
C)  key assets, cost structure, and channels 
D)  key partners, financing/funding, and target market 
E)  channels, core competency, and key partners 
A)  product (or service) production, channels, and key partners 
B)  product/market scope, cost structure, and key partners 
C)  key assets, cost structure, and channels 
D)  key partners, financing/funding, and target market 
E)  channels, core competency, and key partners A

Question 2

________ business models depict existing plans or recipes firms can use to determine how they will create, deliver, and capture value for their stakeholders.

Accepted Answer

A)  Revolutionary 
B)  Normal 
C)  Customary 
D)  Disruptive 
E)  Standard 
A)  Revolutionary 
B)  Normal 
C)  Customary 
D)  Disruptive 
E)  Standard E

Question 3

________ costs are costs that remain the same despite the volume of goods or services produced. ________ costs vary proportionally with the volume of goods or services provided.

Accepted Answer

A)  Expense; Non-standard 
B)  Standard; Non-Standard 
C)  Fixed; Variable 
D)  Non-Standard; Standard 
E)  Variable; Fixed 
A)  Expense; Non-standard 
B)  Standard; Non-Standard 
C)  Fixed; Variable 
D)  Non-Standard; Standard 
E)  Variable; Fixed C

Question 4

What is a business model? Why is it important? Provide an example to illustrate your answer.

Accepted Answer

A business model is a firm's plan or rec

Question 5

Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as ________.

Accepted Answer

A)  erosion 
B)  churn 
C)  destruction 
D)  attrition 
E)  agitation 
A)  erosion 
B)  churn 
C)  destruction 
D)  attrition 
E)  agitation

Question 6

Briefly describe the four main components of the Barringer/Ireland Business Model Template. Identify the subcomponents of each of the four main components of a business model.

Accepted Answer

The four main components of a business m

Question 7

In the Barringer/Ireland Business Model Template, key assets can be ________.

Accepted Answer

A)  fixed, situational, variable, and permanent 
B)  tactical, strategic, fixed, and variable 
C)  tangible, intangible, variable, and fixed 
D)  temporary, permanent, fixed, and variable 
E)  physical, financial, intellectual, or human 
A)  fixed, situational, variable, and permanent 
B)  tactical, strategic, fixed, and variable 
C)  tangible, intangible, variable, and fixed 
D)  temporary, permanent, fixed, and variable 
E)  physical, financial, intellectual, or human

Question 8

A business's ________ statement describes why it exists and what its business model is supposed to accomplish.

Accepted Answer

A)  values 
B)  importance 
C)  differentiation 
D)  mission 
E)  significance 
A)  values 
B)  importance 
C)  differentiation 
D)  mission 
E)  significance

Question 9

A company's product/market scope defines the products and markets on which it will concentrate.

Accepted Answer

A) True 
 B)False

Question 10

The two general categories of business models are ________ and ________.

Accepted Answer

A)  normal; unique 
B)  standard; disruptive 
C)  ordinary; revolutionary 
D)  customary; unique 
E)  ordinary; disruptive 
A)  normal; unique 
B)  standard; disruptive 
C)  ordinary; revolutionary 
D)  customary; unique 
E)  ordinary; disruptive

Question 11

Describe the Barringer/Ireland Business Model Template and discuss its purpose.

Accepted Answer

The Barringer/Ireland Business Model Tem

Question 12

Erin Hill is working on the box in the Barringer/Ireland Business Model Template that defines the products and markets on which her firm will concentrate. Erin is working on the ________ scope portion of the business model template.

Accepted Answer

A)  offering/market 
B)  offering/industry 
C)  business/market 
D)  business/industry 
E)  product/market 
A)  offering/market 
B)  offering/industry 
C)  business/market 
D)  business/industry 
E)  product/market

Question 13

Jamie Finch is crafting the business model for her fashion design firm. She just completed the section that describes how her firm plans to compete relative to her rivals. Jamie just completed the ________ portion of her business model template.

Accepted Answer

A)  operations 
B)  core strategy 
C)  resources 
D)  strategic plan 
E)  tactical strategy 
A)  operations 
B)  core strategy 
C)  resources 
D)  strategic plan 
E)  tactical strategy

Question 14

The Barringer/Ireland Business Model Template has five major categories and 14 individual parts.

Accepted Answer

A) True 
 B)False

Question 15

Disruptive business models are impactful enough that they disrupt or change the way business is conducted in an industry or an important niche within an industry.

Accepted Answer

A) True 
 B)False

Question 16

In the terminology of the Barringer/Ireland Business Model Template, ________ assets are the assets that a firm owns that enable its business model to work.

Accepted Answer

A)  key 
B)  tactical 
C)  fundamental 
D)  primary 
E)  strategic 
A)  key 
B)  tactical 
C)  fundamental 
D)  primary 
E)  strategic

Question 17

The Resources section of the Barringer/Ireland Business Model Template consists of the ________ and ________ boxes.

Accepted Answer

A)  business mission; core competency 
B)  core competency; product/market scope 
C)  channels; key partners 
D)  core competency; key assets 
E)  revenue streams; key assets 
A)  business mission; core competency 
B)  core competency; product/market scope 
C)  channels; key partners 
D)  core competency; key assets 
E)  revenue streams; key assets

Question 18

When completing the basis of differentiation box in the Barringer/Ireland Business Model Template, it is best to limit the description to ________.

Accepted Answer

A)  two to three points 
B)  one point 
C)  five to 10 points 
D)  two to three points for manufacturing firms and five to 10 points for service firms 
E)  five to 10 points for manufacturing firms and two to three points for service firms 
A)  two to three points 
B)  one point 
C)  five to 10 points 
D)  two to three points for manufacturing firms and five to 10 points for service firms 
E)  five to 10 points for manufacturing firms and two to three points for service firms

Question 19

According to the textbook, there are three categories of costs to consider when completing the "financing/funding" section of the Barringer/Ireland Business Model Template. These are ________.

Accepted Answer

A)  setup costs, one-time expenses, and costs associated with incorporating the firm 
B)  capital costs, marketing costs, and provisions for ramp-up expenses 
C)  setup costs, marketing costs, and operating costs 
D)  capital costs, one-time expenses, and provisions for ramp-up expenses 
E)  operating costs, capital costs, and costs associated with setting up the firm 
A)  setup costs, one-time expenses, and costs associated with incorporating the firm 
B)  capital costs, marketing costs, and provisions for ramp-up expenses 
C)  setup costs, marketing costs, and operating costs 
D)  capital costs, one-time expenses, and provisions for ramp-up expenses 
E)  operating costs, capital costs, and costs associated with setting up the firm

Question 20

It is important to understand that there are several perfect business models.

Accepted Answer

A) True 
 B)False

The operations quadrant in the Barringer/Ireland Business Model Template includes three sections. These are ________.

________ business models depict existing plans or recipes firms can use to determine how they will create, deliver, and capture value for their stakeholders.

costs are costs that remain the same despite the volume of goods or services produced. costs vary proportionally with the volume of goods or services provided.

What is a business model? Why is it important? Provide an example to illustrate your answer.

Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as ________.

Briefly describe the four main components of the Barringer/Ireland Business Model Template. Identify the subcomponents of each of the four main components of a business model.

In the Barringer/Ireland Business Model Template, key assets can be ________.

A business's ________ statement describes why it exists and what its business model is supposed to accomplish.

A company's product/market scope defines the products and markets on which it will concentrate.

The two general categories of business models are and .

Describe the Barringer/Ireland Business Model Template and discuss its purpose.

Erin Hill is working on the box in the Barringer/Ireland Business Model Template that defines the products and markets on which her firm will concentrate. Erin is working on the ________ scope portion of the business model template.

Jamie Finch is crafting the business model for her fashion design firm. She just completed the section that describes how her firm plans to compete relative to her rivals. Jamie just completed the ________ portion of her business model template.

The Barringer/Ireland Business Model Template has five major categories and 14 individual parts.

Disruptive business models are impactful enough that they disrupt or change the way business is conducted in an industry or an important niche within an industry.

In the terminology of the Barringer/Ireland Business Model Template, ________ assets are the assets that a firm owns that enable its business model to work.

The Resources section of the Barringer/Ireland Business Model Template consists of the and boxes.

When completing the basis of differentiation box in the Barringer/Ireland Business Model Template, it is best to limit the description to ________.

According to the textbook, there are three categories of costs to consider when completing the "financing/funding" section of the Barringer/Ireland Business Model Template. These are ________.

It is important to understand that there are several perfect business models.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

Unique Marketing Issues

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

Exam 4: Developing an Effective Business Model

The operations quadrant in the Barringer/Ireland Business Model Template includes three sections. These are ________.

________ business models depict existing plans or recipes firms can use to determine how they will create, deliver, and capture value for their stakeholders.

________ costs are costs that remain the same despite the volume of goods or services produced. ________ costs vary proportionally with the volume of goods or services provided.

What is a business model? Why is it important? Provide an example to illustrate your answer.

Tyler Smith founded a firm that has a subscription-based business model. Although Tyler has averaged 600 new subscribers per month, she also loses 450 subscribers per month. The number of subscribers that Tyler loses each month is referred to as ________.

Briefly describe the four main components of the Barringer/Ireland Business Model Template. Identify the subcomponents of each of the four main components of a business model.

In the Barringer/Ireland Business Model Template, key assets can be ________.

A business's ________ statement describes why it exists and what its business model is supposed to accomplish.

A company's product/market scope defines the products and markets on which it will concentrate.

The two general categories of business models are ________ and ________.

Describe the Barringer/Ireland Business Model Template and discuss its purpose.

Erin Hill is working on the box in the Barringer/Ireland Business Model Template that defines the products and markets on which her firm will concentrate. Erin is working on the ________ scope portion of the business model template.

Jamie Finch is crafting the business model for her fashion design firm. She just completed the section that describes how her firm plans to compete relative to her rivals. Jamie just completed the ________ portion of her business model template.

The Barringer/Ireland Business Model Template has five major categories and 14 individual parts.

Disruptive business models are impactful enough that they disrupt or change the way business is conducted in an industry or an important niche within an industry.

In the terminology of the Barringer/Ireland Business Model Template, ________ assets are the assets that a firm owns that enable its business model to work.

The Resources section of the Barringer/Ireland Business Model Template consists of the ________ and ________ boxes.

When completing the basis of differentiation box in the Barringer/Ireland Business Model Template, it is best to limit the description to ________.

According to the textbook, there are three categories of costs to consider when completing the "financing/funding" section of the Barringer/Ireland Business Model Template. These are ________.

It is important to understand that there are several perfect business models.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

Unique Marketing Issues

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

costs are costs that remain the same despite the volume of goods or services produced. costs vary proportionally with the volume of goods or services provided.

The two general categories of business models are and .

The Resources section of the Barringer/Ireland Business Model Template consists of the and boxes.