BADM 7190 questions with correct answers

Two fundamental considerations in any business model - correct answer 1. Value Proposition 2. Target Market Value Proposition: Two Types - correct answer 1. Differentiation strategy - raise willingness to pay w/ slight increases in costs 2. Low cost strategy - reap large cost saving w/ only slight decreases in willingness to pay FIT (actual choices made to make a business model work) - correct answer 1. Simple Consistency -Consistently fit choices with the value prop and target market 2. Choices that Mutually Reinforce the company's other choices 3. Choices that Optimize efforts - Each decision makes the others easier to execute and therefore strengthens the business model. 4. Trade Offs - When choices cant optimize other choices do the one that is collectively the most optimal Strategic Positioning - correct answer The means by which a manager situates a company relative to its competitors