Business Model Trivia Quiz!

46 Questions | Total Attempts: 271

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Business Model Trivia Quiz!

A business model is basically all the things that one must plan to ensure that a business operates effectively and generates profits and not loses. The business model trivia below is one that is designed to see how well you understood the whole course. Give it a shot and get to refresh your memory. All the best as you continue your studies!


Questions and Answers
  • 1. 
    Bonus: When data is broken into pieces to be sent over the internet, all of the pieces travel through the same path of routers to reach their destination.
    • A. 

      True

    • B. 

      False

  • 2. 
    “Creative Destruction” refers to:
    • A. 

      Finding new ways to destroy things

    • B. 

      The increase in the number of companies that do things the old way as innovation increases

    • C. 

      The rise of innovation with the demise of the old way of doing things

    • D. 

      The ability of newcomers to take advantage of new technologies to be profitable

  • 3. 
    Which computer component failing would result in the loss of all of your data?
    • A. 

      Motherboard

    • B. 

      GPU or Video card

    • C. 

      Hard drive

    • D. 

      CPU

  • 4. 
    Innovation is the creation of something new while invention is the putting of an innovation into practice.
    • A. 

      True

    • B. 

      False

  • 5. 
    Which of the following is NOT a reason why data provides first mover advantages?
    • A. 

      Data is mutable

    • B. 

      Data is scalable

    • C. 

      Data is reinforceable

    • D. 

      Data is defensible

  • 6. 
    A "pivot" is when:
    • A. 

      Organizations rely on their resources and technologies to crush new entrants.

    • B. 

      Organizations change strategic or technology direction based on marketplace information.

    • C. 

      People use the ball of their feet to change direction suddenly.

    • D. 

      An organization creates internal competition among its units like an external marketplace.

  • 7. 
    Which of the following is not true of a "lean start-up" 
    • A. 

      Favors customer feedback over intuition

    • B. 

      Favors elaborate planning over experimentation

    • C. 

      All of the above are true of a “lean startup”

    • D. 

      Favors iterative design over “big design up front” development

  • 8. 
    The rate at which technology is increasing today is faster than it's ever been.
    • A. 

      True

    • B. 

      False

  • 9. 
    Which of the following items does NOT fit the themes described in Gartner's Top 10 Strategic Technology Trends of 2017?
    • A. 

      Intelligent

    • B. 

      Mesh

    • C. 

      Reinforceable

    • D. 

      Digital

  • 10. 
    When information is transferred through the internet, it is broken up into smaller pieces called:
    • A. 

      Packets

    • B. 

      Segments

    • C. 

      Snippets

    • D. 

      Particles

  • 11. 
    A business model canvas CANNOT be used to do which of the following:
    • A. 

      Identify the different customer segments and the parts of the business model that are relevant to providing the value proposition to the customer segment

    • B. 

      Identify the portions of the business model that are relevant to generating revenue and profit to the organization

    • C. 

      Identify the sequence of primary and support activities within the organization used to generate value for the customer and margin to the organization.

    • D. 

      Identify the costs associated with the variety of resources and activities undertaken by the organization to provide the value proposition

  • 12. 
    Which part of the business model canvas refers to the actions a company must take to operate successfully?
    • A. 

      Key resources

    • B. 

      Customer relationships

    • C. 

      Channels

    • D. 

      Key activities

    • E. 

      Key partners

  • 13. 
    What business model involves serving two or more interdependent market segments, and typically involves a platform to bring the two customers together?
    • A. 

      Multi-sided

    • B. 

      Segmented

    • C. 

      Mass-market

    • D. 

      Niche market

    • E. 

      Diversified

  • 14. 
    Which of the following is/are a true statement about the business model canvas?
    • A. 

      The right side of the canvas is generally related to revenue generation, while the left side of the canvas is generally related to costs.

    • B. 

      The customer group's identity describes who our value proposition targets.

    • C. 

      The channel component describes how we will deliver or reach our customers with the value proposition.

    • D. 

      All of the above statements are true.

    • E. 

      None of the above statements are true.

  • 15. 
    Which of the following is NOT one of the phases of the System Development Life Cycle (SDLC)?
    • A. 

      Design the potential solutions

    • B. 

      Position the organization to generate value

    • C. 

      Identify the goals of the organization

    • D. 

      Analyze the existing situation

    • E. 

      Identify the specific requirements of the system

  • 16. 
    What are the three components of every digital business model?
    • A. 

      Products, Information, and Customers

    • B. 

      Processes, Data, and Technology

    • C. 

      Content, Experience, and Platform

    • D. 

      Data, Technology, and People

    • E. 

      Customer Relationships, Value Propositions, and Revenue

  • 17. 
    • A. 

      A company launching a private online community

    • B. 

      Airlines paying Rolls-Royce a fee for servicing airline engines

    • C. 

      Amazon.com inviting customers to write reviews

    • D. 

      Netflix recommending movies and television shows to customers

    • E. 

      All of the above are examples of organizations maintaining customer relationships

  • 18. 
    Which of the following is not one of the three trends that drive the importance of moving towards digital business models?
    • A. 

      Value chain

    • B. 

      Customer voice

    • C. 

      Digitization

    • D. 

      Digital natives

  • 19. 
    Which of the following is NOT a potential revenue stream for the organization's value proposition?
    • A. 

      Reduction of risk and uncertainty

    • B. 

      Subscription fees

    • C. 

      Licensing

    • D. 

      Asset sale

    • E. 

      Advertising

  • 20. 
    A server is a computer that provides data or services to other computers via a network.
    • A. 

      True

    • B. 

      False

  • 21. 
    Which of the following is NOT n example of a deliverable
    • A. 

      A prototype built by the project team sent to the user

    • B. 

      A presentation given by the project team to the stakeholder of the project.

    • C. 

      A signoff by a project sponsor on the phase of the project

    • D. 

      A report written by the project manager to the project's sponsor.

  • 22. 
    • A. 

      Time

    • B. 

      Information

    • C. 

      Scope

    • D. 

      Resources

  • 23. 
    Which of the following best describes the benefits of adhering to project management strategies:
    • A. 

      Improving the ongoing operations of the organizations

    • B. 

      Helping the organization set its goals.

    • C. 

      Reducing risks, cutting costs, and improving success rates

    • D. 

      Helping the organization waste money.

  • 24. 
    Which of the following is not a project?
    • A. 

      Design and Development of the new iPhone X

    • B. 

      Delivering mail

    • C. 

      Restoration of power after Hurricane Irma

    • D. 

      Planning a vacation

  • 25. 
    A Work Breakdown Structure (WBS) is a ______.
    • A. 

      Form of Gantt chart used to display the critical path of a project.

    • B. 

      Control chart designed to facilitate stakeholder analysis and implementation

    • C. 

      Description of tasks, numbered and arranged in layers of detail

    • D. 

      A model describing a sequence of activities in a business process.

    • E. 

      Date-based schedule that identifies a critical path through the project