Management 490 Theory Exam 2024 Questions and Answers.
Management 490 Theory Exam 2024 Questions and Answers. Business Model Canvas - a diagram of how a company creates value for itself and its customers- elevator pitch Business Model Canvas 2 - 1. Key Partners 2. Key Activities 3. Key Resources 4. Value Proposition 5. Channels 6. Relationship 7. Segment 8. Cost Structure 9. Revenue Streams Key Partners - Outsiders - Wholesalers - Suppliers - Manufactures Key Activities - production, problem solving, platform/network - Can you actually make product? Key Resources - materials that are essential for the production of a good or service - Adequate capital (#1 reason a business will fail) Value Proposition - the unique value that a product or service provides to its customers and how it is better than and different from those of competitors. - Why do they give us $ Channels - How you reach the customers Segment - Where to focus on section of the market Cost Structure - - Timing - Fixed vs Variable Revenue Streams - How you make money - Sales - Ads - Services - Accessories.
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