Question 1

According to Peter Drucker, what five questions form the basis for developing a business model?

Accepted Answer

What is our mission? Who is ou

Question 2

Drucker's five questions are the basis for the development of the business concept.

Accepted Answer

A) True 
 B)False

Question 3

What are the primary reasons that business models fail?

Accepted Answer

(1)flawed logic, 
(2)limited s

Question 4

A ____ is the community of partners, suppliers, and other members of the value chain with which the venture does business. ​

Accepted Answer

A) customer network 
B) value network 
C) business network 
D) shareholder network 
E) None of these choices 
A) customer network 
B) value network 
C) business network 
D) shareholder network 
E) None of these choices

Question 5

The feasibility analysis includes all of the following except ____.

Accepted Answer

A) industry analysis 
B) market customer analysis 
C) product service analysis 
D) competitive analysis 
E) investor analysis 
A) industry analysis 
B) market customer analysis 
C) product service analysis 
D) competitive analysis 
E) investor analysis

Question 6

Business concepts are developed quickly and can be funded and operational within two days.

Accepted Answer

A) True 
 B)False

Question 7

The two fundamental activities that comprise a/an ____ are creating and capturing value. ​

Accepted Answer

A) business model 
B) business plan 
C) action plan 
D) business concept 
E) value network 
A) business model 
B) business plan 
C) action plan 
D) business concept 
E) value network

Question 8

A clear and precise definition of the ____ increases the chances that the business concept will meet the needs of the market.

Accepted Answer

A) competition 
B) employee base 
C) customer 
D) management structure 
E) product 
A) competition 
B) employee base 
C) customer 
D) management structure 
E) product

Question 9

For a new product or service to be successful, it should ____. ​

Accepted Answer

A) not be too expensive 
B) provide long-term utility 
C) solve a problem that customers have 
D) have a good warranty 
E) be the leader in the product line 
A) not be too expensive 
B) provide long-term utility 
C) solve a problem that customers have 
D) have a good warranty 
E) be the leader in the product line

Question 10

It is not possible to innovate with business models; one must create the plan and stick to it.

Accepted Answer

A) True 
 B)False

According to Peter Drucker, what five questions form the basis for developing a business model?

Drucker's five questions are the basis for the development of the business concept.

What are the primary reasons that business models fail?

A ____ is the community of partners, suppliers, and other members of the value chain with which the venture does business.

The feasibility analysis includes all of the following except ____.

Business concepts are developed quickly and can be funded and operational within two days.

The two fundamental activities that comprise a/an ____ are creating and capturing value.

A clear and precise definition of the ____ increases the chances that the business concept will meet the needs of the market.

For a new product or service to be successful, it should ____.

It is not possible to innovate with business models; one must create the plan and stick to it.

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Exam 5: Developing and Testing a Business Model

According to Peter Drucker, what five questions form the basis for developing a business model?

Drucker's five questions are the basis for the development of the business concept.

What are the primary reasons that business models fail?

A ____ is the community of partners, suppliers, and other members of the value chain with which the venture does business. ​

The feasibility analysis includes all of the following except ____.

Business concepts are developed quickly and can be funded and operational within two days.

The two fundamental activities that comprise a/an ____ are creating and capturing value. ​

A clear and precise definition of the ____ increases the chances that the business concept will meet the needs of the market.

For a new product or service to be successful, it should ____. ​

It is not possible to innovate with business models; one must create the plan and stick to it.

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

A ____ is the community of partners, suppliers, and other members of the value chain with which the venture does business.

The two fundamental activities that comprise a/an ____ are creating and capturing value.

For a new product or service to be successful, it should ____.