Some examples from this set of practice questions
1.
What are the 4 components of the Business Model, according to the paper \'reinventing your business model\'?
Answer: 1. Customer value proposition (CVP) (most important is precision, how perfectly it nails the customer job to be done). Think of the common barriers (insufficient funds, skill, time, etc.) 2. Profit formula 3. Key resources 4. Key processes
2.
What 5 circumstances often require a BM change?
Answer: 1. Opportunity to address the needs of large groups of potential customers who are shut out of market (because solutions are too expensive or complicated) through disruptive innovation. 2. Opportunity to capitalize on a brand-new technology by wrapping a new business model around it (Apple and MP3 players) or the opportunity to leverage a tested technology by bringing it to a whole new market. 3. Opportunity to bring a job-to-be-done focus where one does not yet exist (FedEx focusing on speed and reliability over UPS). 4. The need to fend off low-end disrupters. 5. The need to respond to a shifting basis of competition.
3.
Are people part of key processes?
Answer: No!
4.
Is margin model part of the key processes?
Answer: No!
5.
What does LN stand for?
Answer: Learning network
6.
What main value chains does the wind industry have?
Answer: Manufacturing chain Deployment chain
7.
The BMI process consists of four generic phases. What are those?
Answer: 1. An initiation phase to discover the need for innovation 2. An ideation phase to generate possible solutions and alternatives 3. An integration phase to elaborate and develop the possibilities identified in phase 2 4. An implementation phase to bring the solution to the market
8.
What are business models used for?
Answer: BM are used to articulate, challenge, transfer and recombine tacit knowledge underlying implicit cognitive schemas and heuristics.
9.
What 2 blocks were added to the BM canvas to turn it into the SEMC?
Answer: - The social and environmental costs of a business model (negative impact) - The social and environmental benefits of a business model (positive impact)
10.
What are the 3 challenges and 1 paradox for social enterprises?
Answer: Strategy challenge Legitimacy challenge The governance challenge The mission measurement paradox
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