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MGMT 310 Exam 1 Chapter 4 questions correct answers
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MGMT 310 Exam 1 Chapter 4 questions correct answers
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MGMT 310 Exam 1 Chapter 4A ________ is a firm's plan or recipe for how it creates, delivers, and captures value for its stakeholders. -
correct answer ✔✔business model
In regard to business models, which of the following statements is incorrect? - correct answer ✔✔There
is a standard business model that most firms follow.
A business model is a firm's plan or recipe for how it creates, delivers, and captures value for its
stakeholders. - correct answer ✔✔TRUE
The two general categories of business models are ________ and ________. - correct answer
✔✔standard; disruptive
________ business models depict existing plans or recipes firms can use to determine how they will
create, deliver, and capture value for their stakeholders. - correct answer ✔✔Standard
________ business models are ones that do not fit the profile of standard business models, and are
impactful enough that they disrupt or change the way business is conducted in an industry or an
important niche within an industry. - correct answer ✔✔Disruptive
Southwest Airlines is an example of a ________ disruptive business model. - correct answer ✔✔low-end
There are two types of disruptive business models — ________ and ________. - correct answer
✔✔new-market; low-end
Standard business models depict existing plans or recipes firms can use to determine how they will
create, deliver, and capture value for their stakeholders. - correct answer ✔✔TRUE
It is important to understand that there are several perfect business models - correct answer ✔✔FALSE
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