Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

In the terminology of the Barringer/Ireland Business Model Template, ________ assets are the assets that a firms 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 3

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 4

Which of the following firms has a peer-to-peer business model?

Accepted Answer

A)  Dell 
B)  Dropbox 
C)  Airbnb 
D)  Salesforce.com 
E)  Google 
A)  Dell 
B)  Dropbox 
C)  Airbnb 
D)  Salesforce.com 
E)  Google

Question 5

________ refers to the number of subscribers that a subscription-based business loses each month.

Accepted Answer

A)  Agitate 
B)  Churn 
C)  Erosion 
D)  Attrition 
E)  Stir 
A)  Agitate 
B)  Churn 
C)  Erosion 
D)  Attrition 
E)  Stir

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

The Financials section of the Barringer/Ireland Business Model Template consists of three boxes. The boxes are titled ________.

Accepted Answer

A)  economics of the business, startup-costs, and break-even 
B)  revenue streams, cost structure, and financing/funding 
C)  profit margins, revenue streams, and break-even 
D)  startup-costs, operating leverage, and financing/funding 
E)  fixed vs variables costs, financing/funding, and break-even 
A)  economics of the business, startup-costs, and break-even 
B)  revenue streams, cost structure, and financing/funding 
C)  profit margins, revenue streams, and break-even 
D)  startup-costs, operating leverage, and financing/funding 
E)  fixed vs variables costs, financing/funding, and break-even

Question 8

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

Accepted Answer

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

Question 9

Standard 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) True 
 B)False

Question 10

Which of the following firms introduced a disruptive business model?

Accepted Answer

A)  Salesforce.com 
B)  eBay 
C)  Panera Bread 
D)  Barnes & Nobel 
E)  J. Crew 
A)  Salesforce.com 
B)  eBay 
C)  Panera Bread 
D)  Barnes & Nobel 
E)  J. Crew

Question 11

Brad Jones is in the process of opening an electronics supply company and is working on the portion of his business plan template that describes how he will deliver his products and services to his customers. The portion of the business plan template that Brad is working on is referred to as ________.

Accepted Answer

A)  channels 
B)  network 
C)  linkages 
D)  grids 
E)  conduits 
A)  channels 
B)  network 
C)  linkages 
D)  grids 
E)  conduits

Question 12

In the terminology of the Barringer/Ireland Business Model Template, a firm's ________ structure describes the most important costs incurred to support its business model.

Accepted Answer

A)  expense 
B)  cost 
C)  budget 
D)  overhead 
E)  outflow 
A)  expense 
B)  cost 
C)  budget 
D)  overhead 
E)  outflow

Question 13

A firm's revenue streams describe the ways in which it makes money.

Accepted Answer

A) True 
 B)False

Question 14

________ 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

Question 15

Jenna Franklin is completing the portion of the Barringer/Ireland Business Model Template that describes the most important costs that will be incurred to support her business model. Jenna is completing the ________ structure box in the business model template.

Accepted Answer

A)  expense 
B)  outlay 
C)  payment 
D)  overhead 
E)  cost 
A)  expense 
B)  outlay 
C)  payment 
D)  overhead 
E)  cost

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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 18

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 19

The resources section of the Barringer/Ireland Business Model Template includes three parts: core competency, key assets, and revenue streams.

Accepted Answer

A) True 
 B)False

Question 20

The Barringer/Ireland Business Model Canvas consists of ________ major category(ies) and ________ parts.

Accepted Answer

A)  1; 12 
B)  3; 9 
C)  6; 18 
D)  4; 12 
E)  2; 6 
A)  1; 12 
B)  3; 9 
C)  6; 18 
D)  4; 12 
E)  2; 6

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

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

The two general categories of business models are and .

Which of the following firms has a peer-to-peer business model?

________ refers to the number of subscribers that a subscription-based business loses each month.

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

The Financials section of the Barringer/Ireland Business Model Template consists of three boxes. The boxes are titled ________.

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

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

Which of the following firms introduced a disruptive business model?

In the terminology of the Barringer/Ireland Business Model Template, a firm's ________ structure describes the most important costs incurred to support its business model.

A firm's revenue streams describe the ways in which it makes money.

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

Jenna Franklin is completing the portion of the Barringer/Ireland Business Model Template that describes the most important costs that will be incurred to support her business model. Jenna is completing the ________ structure box in the business model template.

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

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.

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.

The resources section of the Barringer/Ireland Business Model Template includes three parts: core competency, key assets, and revenue streams.

The Barringer/Ireland Business Model Canvas consists of major category(ies) and parts.

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 Venture's 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

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

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

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

Which of the following firms has a peer-to-peer business model?

________ refers to the number of subscribers that a subscription-based business loses each month.

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

The Financials section of the Barringer/Ireland Business Model Template consists of three boxes. The boxes are titled ________.

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

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

Which of the following firms introduced a disruptive business model?

In the terminology of the Barringer/Ireland Business Model Template, a firm's ________ structure describes the most important costs incurred to support its business model.

A firm's revenue streams describe the ways in which it makes money.

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

Jenna Franklin is completing the portion of the Barringer/Ireland Business Model Template that describes the most important costs that will be incurred to support her business model. Jenna is completing the ________ structure box in the business model template.

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

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.

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.

The resources section of the Barringer/Ireland Business Model Template includes three parts: core competency, key assets, and revenue streams.

The Barringer/Ireland Business Model Canvas consists of ________ major category(ies) and ________ parts.

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 Venture's 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

The two general categories of business models are and .

The Barringer/Ireland Business Model Canvas consists of major category(ies) and parts.