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    The document contains 15 multiple choice questions about business concepts such as the business model, value proposition, competitive advantage, innovation metrics, and components of a business plan. Specifically, it tests understanding of how a company's vision should evolve, how value is created in a value network, how value shops drive value, the importance of experimentation in business modeling, the purpose of a value proposition, definitions of vertical and horizontal business models, the dynamic capabilities view of competitive advantage, key aspects of creating innovation metrics, how growth metrics should be designed, examples of per customer and split testing metrics, and the purpose of different sections in a business plan including the resourcing and operational section.

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    The document contains 15 multiple choice questions about business concepts such as the business model, value proposition, competitive advantage, innovation metrics, and components of a business plan. Specifically, it tests understanding of how a company's vision should evolve, how value is created in a value network, how value shops drive value, the importance of experimentation in business modeling, the purpose of a value proposition, definitions of vertical and horizontal business models, the dynamic capabilities view of competitive advantage, key aspects of creating innovation metrics, how growth metrics should be designed, examples of per customer and split testing metrics, and the purpose of different sections in a business plan including the resourcing and operational section.

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    280 views3 pages

    Chapter 6 MCQs

    Uploaded by

    madihaadnan1
    The document contains 15 multiple choice questions about business concepts such as the business model, value proposition, competitive advantage, innovation metrics, and components of a business plan. Specifically, it tests understanding of how a company's vision should evolve, how value is created in a value network, how value shops drive value, the importance of experimentation in business modeling, the purpose of a value proposition, definitions of vertical and horizontal business models, the dynamic capabilities view of competitive advantage, key aspects of creating innovation metrics, how growth metrics should be designed, examples of per customer and split testing metrics, and the purpose of different sections in a business plan including the resourcing and operational section.

    Copyright:

    © All Rights Reserved
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    of 3

    Chapter 6 MCQs

    1. The business idea relates to:


    a) How things are now
    b) A future state
    c) How things were in the past
    d) None of the above

    2. A company’s vision should be changed:


    a) Annually
    b) Monthly
    c) As the firm achieves the goals laid out in the vision
    d) Never

    3. In the value network, value is created through:


    a) Solving customer problems
    b) Linking customers who are or wish to be independent
    c) Transforming inputs into products
    d) All of the above

    4. Value shops drive value based on:


    a) Expertise and reputation
    b) The facilitation of exchange
    c) Transforming inputs into products
    d) The organisation of exchange

    5. Business modelling requires entrepreneurs to engage in:


    a) Traditional business planning
    b) Active experimentation and learning
    c) Traditional modelling
    d) None of the above

    6. The value proposition:


    a) Is crucial for capturing economic value
    b) Is essential to secure revenue streams for venture
    c) Creates customer value by bundling products and services to meet customer needs or
    solve problems
    d) Is essential for enforcing IP rights

    7. Vertical social ties are those:


    a) The focal positioned in the supply chain
    b) The focal firm has with business partners
    c) That include competitors within the industry
    d) None of the above

    8. The business model is where the company bundles innovation and product
    together and assumes responsibility for the value chain.
    a) Outsourced
    b) Integrated
    c) Vertical
    d) Horizontal

    9. The Dynamic Capabilities View on how to create a Competitive Advantage suggests:


    a) That firms in the same industry perform differently because they differ in their resources
    and capabilities
    b) That firms in the same industry perform similarly because they have similar resources
    and capabilities
    c) The need to distinguish capabilities from resources and stresses the importance of the
    dynamic process of capability building in gaining competitive advantage
    d) The need to combine capabilities and resources and stresses the importance of the
    dynamic process of capability building in gaining competitive advantage

    10. Which of the following is not a key aspect of creating innovation metrics?
    a) Measure what matters
    b) Measure everything
    c) Metrics are people
    d) Measure the macro

    11. Growth metrics should be:


    a) Designed to provide concrete and honest feedback
    b) Designed to make people think the business is successful
    c) Derived from the most critical constraints in a value chain
    d) None of the above

    12. is data that is happening on a per customer or per segment basis.


    a) Split-testing
    b) Per customer metrics
    c) Funnel metrics
    d) Keyword metrics

    13. is where half of the users get added/changed features to test whether this creates
    value to the customer.
    a) Split-testing
    b) Per customer metrics
    c) Funnel metrics
    d) Keyword metrics
    14. Within a business plan, a table of contents should be located:
    a) On the first page
    b) On the last page
    c) Following the executive summary
    d) Before the executive summary

    15. The resourcing and operational section of the business plan aims to:
    a) Emphasise your management’s talents and skills and indicate why they are a part of your
    company’s distinctive competence
    b) Build a thorough understanding of how products/services are to be produced, by what
    producers and via what production or service delivery capacity
    c) Clearly articulate the product and/or service to be offered by the venture, the position
    within the life-cycle, description of the company’s IP
    d) Provide an overview of how all of the elements of your company fit together

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