Business models and innovation

1) Rationale of how an organization creates, delivers, and captures value

a) Business plan
b) Business Model Canvas
c) Value Proposition Canvas
d) Business Strategy

2) Which of the following statements is NOT TRUE about Business Model Canvas
a) Describe ideas as a series of hypotheses and assumptions.
b) It guarantees success for innovative ideas.
c) It allows to build a better, more resilient, and ultimately validated business model.
d) Describe ideas in 9 simple parts.

3) The first place we start with Business Model Canvas is ……

a) Key partnerships and Key activities.
b) Customer Segments and the Value Proposition.
c) Cost structure and Revenue streams.
d) We can start Business Model Canvas from any part.

4) In Value Proposition Canvas we try to identify and match ……… with ………
a) Cost structure with Revenue streams
b) Customer relationships with Customer Segments
c) Customer Segments and the Value Proposition.
d) Key resources with channels

5) In this part of Business Model Canvas, we make an educated guess or a hypothesis about
who we think our customer is.
a) Customer relationships
b) Customer Segments
c) Key partnerships
d) Channels

6) ______ defines the customer segment as one large group with broadly similar
jobs/pains/gains.
a) Mass market
b) Niche market
c) Segmented
d) Diversified

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7) ______ defines the customer segment as a specific and specialized group of customers.
a) Mass market
b) Niche market
c) Segmented
d) Diversified

8) Which of the following questions help to Identify customer pain?

a) What does your customer find too costly?
b) Which savings would make your customers happy?
c) How do current solutions delight your customers?
d) What would make your customers’ jobs or life easier?

9) _______ involves describing your product or service based on how it creates value for
your target customer segment(s)
a) Customer relationships
b) Customer Segments
c) Key partnerships
d) Value proposition

10) The biggest mistake often made in cultivating new ideas is not having enough _______
with customer.
a) Interaction
b) Empathy
c) Agreement
d) Tolerance

11) This section of Business Model Canvas should address how you will acquire and retain
customers and strategies to boost or upsell your products and services to these customers.
a) Customer relationships
b) Customer Segments
c) Key partnerships
d) Value proposition

12) __________describe how you will reach, communicate and interact with your customer
segment to deliver value.
a) Customer relationships
b) Customer Segments
c) Key partnerships
d) Channels

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13) _______ is where you identify how the organization will earn its income.
a) Value proposition
b) Revenue streams
c) Channels
d) Cost structure

14) Which of the following is TRUE about Key resources in Business Model Canvas?
a) Resources may be physical, financial, intellectual or human.
b) organization may own or lease the resources or acquire it through a partnership.
c) resources enable the business model to work at its maximum efficiency.
d) All the statements are true.

15) _______ are the important tasks that the organization must do to make the business
model work.
a) Key partnerships
b) Key resources
c) Key activities
d) cost structure

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