Question 1

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

Accepted Answer

The answer of According to Peter Drucker, what five questions...

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

The answer of What are the primary reasons that business...

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

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

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

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

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

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

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.

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 ____.