SEVI 3013 Exam 2 SOLVED Exam
Questions and CORRECT Answers
What is Business Model? - CORRECT ANSWER - Describes what a firm does to create,
deliver, and capture value for its stakeholders
How is Business Model Related to Strategy? - CORRECT ANSWER - A company's business
model is a part of its business' overall strategy. It is a component in how the company plans to
achieve its goals.
What are the Components of a Business Model? - CORRECT ANSWER -
How do Business Models Help Make Strategic Decisions? - CORRECT ANSWER -
Customer Value Concept (CVC) - CORRECT ANSWER -
Revenue Streams - CORRECT ANSWER -
Cost Streams - CORRECT ANSWER -
Franchise (Business Model) - CORRECT ANSWER - Finds a firm licensing its trademark and
the processes it follows to create and deliver a product to franchisees
The firm franchising its trademark and processes captures value by receiving fees and royalty
payments from its franchisees
McDonald's and Panera Bread
, Freemium (Business Model) - CORRECT ANSWER - The firm provides a basic product to
customers for free and earns revenues and profits by selling a premium version of the service
Dropbox and MailChimp
Advertising (Business Model) - CORRECT ANSWER - For a fee, firms provide advertisers
with high-quality access to their target customers
Google and Pinterest
Peer-to-Peer (Business Model) - CORRECT ANSWER - Where a business matches those
wanting a particular service with those providing that service
Task Rabbit and Airbnb
Subscription (Business Model) - CORRECT ANSWER - The business model finds a firm
offering a product to customers on a regular basis such as once-per-month, once-per-year, or
upon demand
Netflix and Blue Apron
The Dynamic Nature of Business Models - CORRECT ANSWER -
The Criteria to Look at to Assess and Evaluate Business Models - CORRECT ANSWER -
Tactical Moves - CORRECT ANSWER - A market-based move that firms take to fine-tune a
strategy; These actions and responses involve fewer resources and are relatively easy to
implement and reverse
Questions and CORRECT Answers
What is Business Model? - CORRECT ANSWER - Describes what a firm does to create,
deliver, and capture value for its stakeholders
How is Business Model Related to Strategy? - CORRECT ANSWER - A company's business
model is a part of its business' overall strategy. It is a component in how the company plans to
achieve its goals.
What are the Components of a Business Model? - CORRECT ANSWER -
How do Business Models Help Make Strategic Decisions? - CORRECT ANSWER -
Customer Value Concept (CVC) - CORRECT ANSWER -
Revenue Streams - CORRECT ANSWER -
Cost Streams - CORRECT ANSWER -
Franchise (Business Model) - CORRECT ANSWER - Finds a firm licensing its trademark and
the processes it follows to create and deliver a product to franchisees
The firm franchising its trademark and processes captures value by receiving fees and royalty
payments from its franchisees
McDonald's and Panera Bread
, Freemium (Business Model) - CORRECT ANSWER - The firm provides a basic product to
customers for free and earns revenues and profits by selling a premium version of the service
Dropbox and MailChimp
Advertising (Business Model) - CORRECT ANSWER - For a fee, firms provide advertisers
with high-quality access to their target customers
Google and Pinterest
Peer-to-Peer (Business Model) - CORRECT ANSWER - Where a business matches those
wanting a particular service with those providing that service
Task Rabbit and Airbnb
Subscription (Business Model) - CORRECT ANSWER - The business model finds a firm
offering a product to customers on a regular basis such as once-per-month, once-per-year, or
upon demand
Netflix and Blue Apron
The Dynamic Nature of Business Models - CORRECT ANSWER -
The Criteria to Look at to Assess and Evaluate Business Models - CORRECT ANSWER -
Tactical Moves - CORRECT ANSWER - A market-based move that firms take to fine-tune a
strategy; These actions and responses involve fewer resources and are relatively easy to
implement and reverse
