Exam 4: Developing an Effective Business Model

Nathan Green is starting a firm in the organic produce industry. Nathan has developed a statement-"Helping Make Your Life Better, Healthier, and Fuller"-that describes the reason his company exists and what his business model is supposed to accomplish. In the terminology used in the Barringer/Ireland Business Model Template, Nathan's statement is referred to as his ________ statement.

In regard to business models, which of the following statements is incorrect?

In the Barringer/Ireland Business Model Template, a(n) ________ is a specific factor or capability that supports a firm's business model and sets it apart from its rivals.

The Partnering for Success feature in Chapter 4 focused on Web-based platforms, including Odesk, Elance, and Guru, that make it easy to identify and hire experienced ________.

The Savvy Entrepreneurial Firm feature in Chapter 4 focuses on the ways in which Quirky creates, delivers and captures value for its stakeholders. According to the feature, Quirky would be a business that would be difficult to copy. According to the feature, it would be difficult to copy because ________.

Sarah Green, who plans to open a garden and lawn business, is working on the portion of the Barringer/Ireland Business Model template that focuses on how her products and services will be produced. Sarah is working on the ________ section of the template.

According to the textbook, Southwest Airlines introduced a new market disruption type of disruptive business model.

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

The four major categories in the Barringer/Ireland Business Model Template are ________.

A business model is a firm's plan or recipe for how it creates, delivers, and captures value for its 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.

A firm's ________ market is a place within a larger market segment that represents a narrower group of customers with similar interests.

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

The four major categories in the Barringer/Ireland Business Model Template are: core strategy, resources, financials, and operations.

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

Which of the following is not one of the four major categories in the Barringer/Ireland Business Model Template?

Mark White is the founder of a firm that builds iPhone apps. Mark is very technically savvy, which allows him to build apps quickly and with minimal bugs or problems. In the terminology of the Barringer/Ireland Business Model Template, Mark's technical savvy is a(n) ________ of his firm.

In the financing/funding section of the Barringer/Ireland Business Model Template, there are three categories of costs to consider: capital costs, one-time expenses, and provisions for ramp-up expenses.

Value-driven businesses focus on minimizing costs wherever possible.

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 ________.