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Questions and Answers
Which of the following best describes a business model?
Which of the following best describes a business model?
- A firm's plan for hiring employees
- A firm's plan for marketing its products
- A firm's plan for creating, delivering, and capturing value for its stakeholders (correct)
- A firm's plan for managing its finances
What is the ideal timing for developing a business model?
What is the ideal timing for developing a business model?
- After fleshing out the operational details of the company (correct)
- Before conducting a feasibility analysis
- After the firm has achieved short-term success
- During the marketing stage
What are the two general types of business models discussed in the text?
What are the two general types of business models discussed in the text?
- Profit-driven and non-profit business models
- Standard and disruptive business models (correct)
- Standard and innovative business models
- Traditional and modern business models
When is a firm's business model most critical to its success?
When is a firm's business model most critical to its success?
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What is the Barringer/Ireland Business Model Template used for?
What is the Barringer/Ireland Business Model Template used for?
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