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BPI Exam 1 Graded A+ 2024
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BPI Exam 1 Graded A+ 2024
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BPI Exam 1 Graded A+ 20240.0 - ANSWER-Profits, all about shareholders
1.0 - ANSWER-Greenwashing, Main goal is still to benefit the company
(this is what most businesses are)
2.0 - ANSWER-Triple Bottom Line, not only economic but social and environmental too
3.0 - ANSWER-Above and beyond, try to actively solve social issues
6 am to 6 pm (760 mins) - ANSWER-Chocolatier operates from
7 practices of effective reframing - ANSWER-Establish legitimacy
Bring outsiders into discussion
Get people's definitions in writing
Ask what's missing
Consider multiple categories
Analyze positive exceptions
Question the objective
activities - ANSWER-The actions that move the input through the process to become
outputs
advertising - ANSWER-fees for advertising a particular product
after sale support - ANSWER-helping customers resolve problems arising after
receiving value proposition (channel stage 5)
agile - ANSWER-incremental, separates project into sprints
agile - ANSWER-various approaches to software development under which
requirements and solutions evolve through the collaborative effort of self-organizing and
cross functional teams, allows for periodic checking, linear distinct phases
analyze - ANSWER-Systematic processing of the measured data to derive meaningful
insights - Must provide insights that are relevant for identifying the problems as well as
possible solutions
asset sale - ANSWER-selling ownership rights to product ex: ice cream shop
automated service - ANSWER-sophisticated self service , ex: netflix
, autonomation - ANSWER-Mechanisms guiding machines to detect problems, correct
them or halt production
Reduces defects
Stops at every abnormality
autonomation - ANSWER-mechanisms guiding machines to detecting problems or halt
prod. (principle of lean)
awareness - ANSWER-raising awareness about product ex: blow up things outside of
car dealerships for new deals (channel stage 1)
blue ocean strategy - ANSWER-market space is new and uncontested, and strategy
centers around value innovation. Really no competitors, a new product Focus on what
customers really care about Ex: Automobile, Movie Theater Industry
brand/status - ANSWER-value in specific brand
brokerage fees - ANSWER-intermediation services performed on behalf of 2 or more
parties ex: closing a deal on a house
business model canvas - ANSWER-is a strategic management tool to quickly and easily
define and communicate a business idea or concept
business process - ANSWER-a series of sequential events which serve a business
purpose
buyer-supplier relationship - ANSWER-interactions with third party organization that
supply goods or services
calculating price elasticity of demand - ANSWER-Price elasticity of demand
PED = % change in sales / % change in price
Your donut shop sells each unit for $2. After raising the prices to $2.50, you detected a
decline in sales from 5000 units a month to 4500 units.
What is the price elasticity of demand?
2.5 - 2 = .5 .5/2 = .25 5000 - 4500 = 500 500/5000 = .1
.1/.25 = .4 = Low elasticity, okay to raise the price
channel - ANSWER-the way to reach customer segments to deliver value proposition
chasing short term metrics - ANSWER-To keep up with the always changing market,
leaders lean more towards using process improvement for short term goals opposed to
the long run
co-creation - ANSWER-co-create value ex: threadless website
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