Analyze
1. Multiple choice question (remembering/understanding)
Concept: Business Model Definition
According to Markides, what are the three key interdependent activities that
make up a business model?
A) Exploitation, exploration, and integration.
B) Who to target as customers, what to offer them, and how to serve them.
C) Novelty, lock-in, and complementarity.
D) Strategy, business model, and tactics.
2. Multiple choice question (remembering/understanding)
Concept: Scenario Planning Approaches
In scenario planning, what is the primary characteristic of the "Design" approach
compared to the "Model" approach?
A) It is analytical, closed to external experts, and has a high sense of reality.
B) It relies on simple heuristics and rules to form intersubjective agreement.
C) It is a creative, open process involving a wide range of subjects, high
contrast, and high appeal.
D) It limits contrast to strictly financial outcomes.
3. Multiple choice question (remembering/understanding)
Concept: Social Business Model Archetypes
In De Cuyper et al.'s typology, which social business model archetype focuses on
a narrow scope of beneficiaries and acts primarily as a bridge (meaning
customers and beneficiaries do not overlap)?
A) Social Stimulators
B) Social Producers
C) Social Providers
D) Social Intermediaries
4. Multiple choice question (remembering/understanding)
,Concept: Business Models vs. Strategy vs. Tactics
According to Casadesus-Masanell & Ricart, how does a "business model"
fundamentally differ from "tactics"?
A) A business model is the residual choices available, whereas tactics are the
logic of the firm.
B) A business model refers to the logic of how the firm operates to create
value, while tactics are the residual choices available by virtue of
employing that specific business model.
C) A business model represents the contingent plan, while tactics represent
the actual blueprint.
D) There is no difference; the terms are interchangeable.
5. Multiple choice question (remembering/understanding)
Concept: Defining BMI
According to Markides (2023), what is required for an initiative to be considered
true "Business Model Innovation" (BMI) rather than just a change in strategy?
A) A change in only one component of the business model.
B) The discovery of a new business model that is new to the industry or new
to the world, not just new to the firm.
C) The invention of a radically new technology or physical product.
D) A pivot that is entirely focused on creating structural separation.
6. Multiple choice question (remembering/understanding)
Concept: Value Drivers
Which value driver in business model design focuses on building transaction-
based, scalable models primarily to remove market imperfections?
A) Novelty
B) Complementarity
C) Lock-in
D) Efficiency
7. Multiple choice question (remembering/understanding)
Concept: Performance vs. Opportunity Gap
What is the definition of an "opportunity gap" in strategy development?
, A) The difference between current results and desired results based on
underperformance.
B) The difference between current results and potential future gains, focusing
on strategic, unmet opportunities.
C) The margin between the cost of goods sold and the ultimate product price.
D) The time delay between forecasting an outcome and realizing financial
value.
8. Multiple choice question (applying/analyzing)
Concept: Reinforcing Mechanisms in CLDs
When analyzing a Causal Loop Diagram (CLD), you notice an arrow linking "word-
of-mouth advertising" to an "increase in large volume customers," which in turn
leads back to "more word-of-mouth." How should this be interpreted?
A) As an institutional contingency.
B) As a balancing loop showing market saturation.
C) As an opportunity gap.
D) As a reinforcing loop showing growth or continuation of the business.
9. Multiple choice question (applying/analyzing)
Concept: Analyzing Internal vs. External Factors
When an organization outlines its business model using variables, it identifies its
own value proposition, its direct pricing strategy, and its reliance on suppliers'
raw material availability. Which of these are considered "intervention points" that
the organization has direct control over?
A) Only the suppliers' raw material availability.
B) Internal factors like the value proposition and pricing strategy.
C) Transactional variables governed by competitors.
D) Institutional contingencies.
10. Multiple choice question (applying/analyzing)
Concept: Causal Loop Diagrams (CLD) & Consequences
When creating a Causal Loop Diagram (CLD) to map Ryanair's business model,
management's policy to offer "no meals" on flights leads to faster turnarounds
and lower variable costs. In the terminology of Casadesus-Masanell & Ricart, "no
meals" and "lower variable costs" represent what respectively?
A) External factor and internal factor
B) Consequence and choice
C) Choice and flexible consequence
D) Rigid consequence and tactical option
1. Multiple choice question (remembering/understanding)
Concept: Business Model Definition
According to Markides, what are the three key interdependent activities that
make up a business model?
A) Exploitation, exploration, and integration.
B) Who to target as customers, what to offer them, and how to serve them.
C) Novelty, lock-in, and complementarity.
D) Strategy, business model, and tactics.
2. Multiple choice question (remembering/understanding)
Concept: Scenario Planning Approaches
In scenario planning, what is the primary characteristic of the "Design" approach
compared to the "Model" approach?
A) It is analytical, closed to external experts, and has a high sense of reality.
B) It relies on simple heuristics and rules to form intersubjective agreement.
C) It is a creative, open process involving a wide range of subjects, high
contrast, and high appeal.
D) It limits contrast to strictly financial outcomes.
3. Multiple choice question (remembering/understanding)
Concept: Social Business Model Archetypes
In De Cuyper et al.'s typology, which social business model archetype focuses on
a narrow scope of beneficiaries and acts primarily as a bridge (meaning
customers and beneficiaries do not overlap)?
A) Social Stimulators
B) Social Producers
C) Social Providers
D) Social Intermediaries
4. Multiple choice question (remembering/understanding)
,Concept: Business Models vs. Strategy vs. Tactics
According to Casadesus-Masanell & Ricart, how does a "business model"
fundamentally differ from "tactics"?
A) A business model is the residual choices available, whereas tactics are the
logic of the firm.
B) A business model refers to the logic of how the firm operates to create
value, while tactics are the residual choices available by virtue of
employing that specific business model.
C) A business model represents the contingent plan, while tactics represent
the actual blueprint.
D) There is no difference; the terms are interchangeable.
5. Multiple choice question (remembering/understanding)
Concept: Defining BMI
According to Markides (2023), what is required for an initiative to be considered
true "Business Model Innovation" (BMI) rather than just a change in strategy?
A) A change in only one component of the business model.
B) The discovery of a new business model that is new to the industry or new
to the world, not just new to the firm.
C) The invention of a radically new technology or physical product.
D) A pivot that is entirely focused on creating structural separation.
6. Multiple choice question (remembering/understanding)
Concept: Value Drivers
Which value driver in business model design focuses on building transaction-
based, scalable models primarily to remove market imperfections?
A) Novelty
B) Complementarity
C) Lock-in
D) Efficiency
7. Multiple choice question (remembering/understanding)
Concept: Performance vs. Opportunity Gap
What is the definition of an "opportunity gap" in strategy development?
, A) The difference between current results and desired results based on
underperformance.
B) The difference between current results and potential future gains, focusing
on strategic, unmet opportunities.
C) The margin between the cost of goods sold and the ultimate product price.
D) The time delay between forecasting an outcome and realizing financial
value.
8. Multiple choice question (applying/analyzing)
Concept: Reinforcing Mechanisms in CLDs
When analyzing a Causal Loop Diagram (CLD), you notice an arrow linking "word-
of-mouth advertising" to an "increase in large volume customers," which in turn
leads back to "more word-of-mouth." How should this be interpreted?
A) As an institutional contingency.
B) As a balancing loop showing market saturation.
C) As an opportunity gap.
D) As a reinforcing loop showing growth or continuation of the business.
9. Multiple choice question (applying/analyzing)
Concept: Analyzing Internal vs. External Factors
When an organization outlines its business model using variables, it identifies its
own value proposition, its direct pricing strategy, and its reliance on suppliers'
raw material availability. Which of these are considered "intervention points" that
the organization has direct control over?
A) Only the suppliers' raw material availability.
B) Internal factors like the value proposition and pricing strategy.
C) Transactional variables governed by competitors.
D) Institutional contingencies.
10. Multiple choice question (applying/analyzing)
Concept: Causal Loop Diagrams (CLD) & Consequences
When creating a Causal Loop Diagram (CLD) to map Ryanair's business model,
management's policy to offer "no meals" on flights leads to faster turnarounds
and lower variable costs. In the terminology of Casadesus-Masanell & Ricart, "no
meals" and "lower variable costs" represent what respectively?
A) External factor and internal factor
B) Consequence and choice
C) Choice and flexible consequence
D) Rigid consequence and tactical option
