Management 490 Theory Exam
Mark Smith Exam Study Guide
– Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 Update
Business Model Canvas - Answer✔✔-a diagram of how a company creates
value for itself and its customers- elevator pitch
Business Model Canvas 2 - Answer✔✔-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 - Answer✔✔-Outsiders
,- Wholesalers
- Suppliers
- Manufactures
Key Activities - Answer✔✔-production, problem solving, platform/network
- Can you actually make product?
Key Resources - Answer✔✔-materials that are essential for the production of a
good or service
- Adequate capital (#1 reason a business will fail)
Value Proposition - Answer✔✔-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 - Answer✔✔-How you reach the customers
Segment - Answer✔✔-Where to focus on section of the market
Cost Structure - Answer✔✔-- Timing
- Fixed vs Variable
Revenue Streams - Answer✔✔-How you make money
- Sales
, - Ads
- Services
- Accessories
Explain the Business Model. - Answer✔✔-- What does the company do?
- Why should the customer buy my product?
- Who helps them?
- What does the company need?
- How is it done?
- How do they interact?
- Who do they help?
- How do they reach them?
- What will it cost?
- How much will they make?
Porter's Five Forces Model - Answer✔✔-Analyzes the competitive forces within
the environment in which a company operates to assess the potential for
profitability in an industry.
Are they organized, different like (union or non union).
Porter's 5 - Answer✔✔-Identifies the terms of the rivalry "are we all competing
fairly" or is one of these powers very important either for the whole industry or
just for certain people?
Porter's Five Forces Model 2 - Answer✔✔-1. Industry Competition
2. Suppliers
Mark Smith Exam Study Guide
– Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 Update
Business Model Canvas - Answer✔✔-a diagram of how a company creates
value for itself and its customers- elevator pitch
Business Model Canvas 2 - Answer✔✔-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 - Answer✔✔-Outsiders
,- Wholesalers
- Suppliers
- Manufactures
Key Activities - Answer✔✔-production, problem solving, platform/network
- Can you actually make product?
Key Resources - Answer✔✔-materials that are essential for the production of a
good or service
- Adequate capital (#1 reason a business will fail)
Value Proposition - Answer✔✔-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 - Answer✔✔-How you reach the customers
Segment - Answer✔✔-Where to focus on section of the market
Cost Structure - Answer✔✔-- Timing
- Fixed vs Variable
Revenue Streams - Answer✔✔-How you make money
- Sales
, - Ads
- Services
- Accessories
Explain the Business Model. - Answer✔✔-- What does the company do?
- Why should the customer buy my product?
- Who helps them?
- What does the company need?
- How is it done?
- How do they interact?
- Who do they help?
- How do they reach them?
- What will it cost?
- How much will they make?
Porter's Five Forces Model - Answer✔✔-Analyzes the competitive forces within
the environment in which a company operates to assess the potential for
profitability in an industry.
Are they organized, different like (union or non union).
Porter's 5 - Answer✔✔-Identifies the terms of the rivalry "are we all competing
fairly" or is one of these powers very important either for the whole industry or
just for certain people?
Porter's Five Forces Model 2 - Answer✔✔-1. Industry Competition
2. Suppliers
