5.1.8: Review Quetions
- Page ID
- 73819
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)- According to Ash Maurya’s typology, Airbnb is an example of what type of business model?
- Direct
- Multisided
- Open
- Marketplace
- Which startup grew from a failed podcasting company called Odeo?
- StubHub
- Groupon
- What is the job to be done of a milkshake according to Christensen’s team’s customer observation research in the 'Link to Learning' video?
- Employ Chick-Fil-A cows
- Accompany on a long morning commute
- Placate children
- Satisfy hunger
- What is a change, typically minor, of the current business model in an attempt to capitalize on a closely related market opportunity?
- Innovation
- Disruption
- Iteration
- Increment
- A tool to identify your idealized target customer and develop a better understanding of his or her environment, behavior, concerns, and aspirations.
- Jobs to be done
- Business plan
- Business model canvas
- Empathy map
- A ________ is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives.
- Business plan
- Business model
- Customer empathy map
- Revenue model
- Select the item that does not belong to the business model canvas.
- Market size
- Revenue streams
- Value proposition
- Customer segments
- The finished story benefit formula of [end customer wants] + [specific period of time] + [address objections] is designed for what component of the lean model canvas?
- Unfair advantage
- Unique value proposition
- Early adopters
- High concept pitch
- How does the social business model canvas differ from the business model canvas and lean model canvas?
- Is only used by nonprofit company
- Doesn’t have customer block and investment block
- Has profit block to talk about ways the company can makes more money
- Has impact measure, surplus, beneficiary segments, and social and customer value propositions
- Which of the following has the purpose of evaluating the team, the market for the concept, the financial viability, and possible pitfalls?
- Feasibility analysis
- Market analysis
- Financial analysis
- Management analysis
- Which of the following has the purpose of forecasting revenue and expenses, projecting a financial narrative, estimating project cost, and projecting cash flow?
- Feasibility analysis
- Market analysis
- Financial analysis
- Management analysis
- Which of the following identifies competitors and quantifies target customers and/or users in a specific industry?
- Feasibility analysis
- Market analysis
- Financial analysis
- Management analysis
- What assesses the prowess of the management and sufficiency of resources to bring the product or idea to market?
- Management analysis
- Operational feasibility analysis
- Financial analysis
- Cash flow
- What are expenses that do not vary with the level of sales, such as rent, salaries, utilities, insurance, and other operating expenses?
- Fixed costs
- Variable costs
- Balance sheet
- Cash flow statements
- Which of the following is a formal document that typically describes the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives?
- Business plan
- Business model
- Customer empathy map
- Revenue model
- Which of these is not the purpose of a business plan?
- Thoroughly explain a business idea and how it will be carried out
- Planning tool and working plan over the course of several years
- Requirement to start a business
- Planning for “what-if” scenarios and explore new options
- Which of these components are not in a business plan?
- Business description
- Industry and market analysis
- Financial analysis
- None of these options is correct
- Estimated profits and expenses of the business is included in which of the following?
- Financial analysis
- Industry and market analysis
- Operation plan
- Marketing plan
- Who is best suited to write a business plan?
- Investor
- Founder(s)
- Consultant
- Chief financial officer