Match the description on the left with the correct business model on the right.DescriptionA business model is a sharedimage representing the businessactivities and their interconnectionin the purpose of creating value.A business model is a tool thatshows how a business works byarticulating its blocks and defining avalue proposition.A business model is the way inwhich a firm makes money -providing products or services toclients.Business modelConceptual representations of how an organisation functionsAttributes of real firmsCognitive/linguistic schema

A company's financial strategy is outlined in its business model. The model outlines how a company…

Answered: Match the description on the left with…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Which building block of the Business Model Canvas identifies how value will be delivered to customer segments? a. Customer segments b. Channels c. Cost structure d. Customer relationships
How any business can introduce its online application platform? What would be the Implementation Plan, Evaluation and Control.
Product differentiation is evident in the following cases EXCEPT a. The entity sells products that are priced significantly lower compared to competitors. b. The entity provides superior customer service with the organization's mindset of quick response. c. The entity creates products that have features that are significant of a high level compared to competitors. d. The entity continuously manufactures products at a pace that competitors cannot match.
Business-level strategies detail commitments and actions taken to provide value to customers and to gain competitive advantage by exploiting core competencies in: specific plant locations specific and individual product markets the selection of industries in which the firm will compete specific and individual functional departments
short answer How can information itself provide a competitive advantage to an organization? Give two or three examples. For each example, describe its associated risks.
For the assignment purposes, students are required to develop a comprehensive business plan that imbibes the essence of innovation and entrepreneurship. While developing the business plan students are required to keep the following points in mind: Choice of product or serviceIdentification of market gapMarket and environmental scanning and analysis.Competitor analysisConsideration of Innovation and industry life cycleForecasting toolsChallenges and suggestions to address if found
Doing the right things to create the most value for your customer is _______________. Effectiveness Value Efficiency Product
The distinction between the creation and capture of value is critical in a business model because A. The creation and capture of value are closely related B. The creation and capture of value may be separated C. Innovation is associated with value creation C D. Intellectual property is associated with value capture
Why is Strategic Planning critical to IT? a. To ensure that IT’s products and services meet users expectations. b. To ensure that IT’s products and services are cost effective. c. To ensure that IT’s products and services satisfy the CEO and the CFO. d. To ensure that IT’s products and services align with the enterprises Goals and Objectives.
Narrative 3: Your Grocery Purchasing Process Write a narrative describing how you buy your groceries. Make sure to include all of the steps from determining what you will buy through unloading the groceries at your home.
choose the correct answer 1. Following is NOT a feature of an organisation information value chain a. It results higher firm profitability b. Raw information is transformed through various stages that add value to that information c. It provides less efficient business processes d. Raw information is systematically acquired e. It helps organisations to reduce operational cost
The ultimate objective of business firms should be to satisfy the needs of their customers.True or False

SEE MORE QUESTIONS

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS