Practice Exam Questions
1. Foss & Saebi (2017) argue that the BMI literature is characterized by:
A) A strong theoretical foundation
B) Conceptual clarity and cohesive research efforts
C) Conceptual ambiguity and disconnected research efforts
D) A focus on practical applications over theory
2. According to Snihur & Markman (2023), a well-defined business model:
A) Is only critical for financial management within the enterprise
B) Is less important than the company's marketing strategy
C) Is crucial for how an enterprise creates and captures value
D) Focuses exclusively on profit maximization
3. The business model navigator consists of which key questions?
A) Who, what, where, when
B) Who, what, why, how
C) Why, how, when, where
D) What, why, when, who
4. Reeves et al. (2020) define complexity as:
A) A minimal number of different elements interacting
B) A large number of similar elements with few connections
C) A large number of different elements with many connections
D) The absence of organizational structure
5. Benefits of complexity include all the following EXCEPT:
A) Reduced efficiency
B) Resilience
C) Adaptability
D) Inimitability
6. The result of an opportunity gap is defined as the gap between:
A) Desired and realized performance
B) Old objective and new objective
C) Theoretical and practical applications
D) Short-term and long-term goals
7. Grewatsch et al. (2023) advocate for what approach to tackle wicked problems?
A) Reductionist thinking
B) Systems thinking
C) Conventional strategy
D) Operational optimization
, 8. Casadesus-Masanell & Ricart (2011) suggest that a good business model should be:
A) Complex and detailed
B) Self-reinforcing and robust
C) Simple and easily imitable
D) Focused on immediate profitability
9. Which is NOT a characteristic of a business ecosystem according to the provided
materials?
A) Interdependence
B) Hierarchical control
C) Collaboration across multiple sectors
D) Unique complementarity
10. The Dynamic Business Model Canvas (DBMC) is praised for:
A) Its static perspective
B) Focusing exclusively on financial parameters
C) Adopting a systemic perspective
D) Ignoring external environmental changes
11. Business model innovation for SMEs during crises involves:
A) Avoiding changes to conserve resources
B) Focusing solely on internal knowledge
C) Strong collaborations with business partners
D) Maintaining a static business model
12. Jacobides & Reeves (2020) recommend all the following in adapting business models
EXCEPT:
A) Taking a few well-considered risks
B) Defaulting to old habits in times of crisis
C) Reassessing growth opportunities
D) Reallocating capital based on demand shifts
13. Scenario analysis is particularly useful for addressing:
A) Well-defined problems with clear solutions
B) Wicked problems with confusing information
C) Situations where future uncertainties are minimal
D) Operational issues within a firm
14. In the context of strategy and business models, 'emergent strategizing' refers to:
A) A top-down approach dictated by senior management
B) Innovations that disrupt current market dynamics
C) Strategies evolving from organizational culture and habits
D) Planned strategic movements based on competitor actions
1. Foss & Saebi (2017) argue that the BMI literature is characterized by:
A) A strong theoretical foundation
B) Conceptual clarity and cohesive research efforts
C) Conceptual ambiguity and disconnected research efforts
D) A focus on practical applications over theory
2. According to Snihur & Markman (2023), a well-defined business model:
A) Is only critical for financial management within the enterprise
B) Is less important than the company's marketing strategy
C) Is crucial for how an enterprise creates and captures value
D) Focuses exclusively on profit maximization
3. The business model navigator consists of which key questions?
A) Who, what, where, when
B) Who, what, why, how
C) Why, how, when, where
D) What, why, when, who
4. Reeves et al. (2020) define complexity as:
A) A minimal number of different elements interacting
B) A large number of similar elements with few connections
C) A large number of different elements with many connections
D) The absence of organizational structure
5. Benefits of complexity include all the following EXCEPT:
A) Reduced efficiency
B) Resilience
C) Adaptability
D) Inimitability
6. The result of an opportunity gap is defined as the gap between:
A) Desired and realized performance
B) Old objective and new objective
C) Theoretical and practical applications
D) Short-term and long-term goals
7. Grewatsch et al. (2023) advocate for what approach to tackle wicked problems?
A) Reductionist thinking
B) Systems thinking
C) Conventional strategy
D) Operational optimization
, 8. Casadesus-Masanell & Ricart (2011) suggest that a good business model should be:
A) Complex and detailed
B) Self-reinforcing and robust
C) Simple and easily imitable
D) Focused on immediate profitability
9. Which is NOT a characteristic of a business ecosystem according to the provided
materials?
A) Interdependence
B) Hierarchical control
C) Collaboration across multiple sectors
D) Unique complementarity
10. The Dynamic Business Model Canvas (DBMC) is praised for:
A) Its static perspective
B) Focusing exclusively on financial parameters
C) Adopting a systemic perspective
D) Ignoring external environmental changes
11. Business model innovation for SMEs during crises involves:
A) Avoiding changes to conserve resources
B) Focusing solely on internal knowledge
C) Strong collaborations with business partners
D) Maintaining a static business model
12. Jacobides & Reeves (2020) recommend all the following in adapting business models
EXCEPT:
A) Taking a few well-considered risks
B) Defaulting to old habits in times of crisis
C) Reassessing growth opportunities
D) Reallocating capital based on demand shifts
13. Scenario analysis is particularly useful for addressing:
A) Well-defined problems with clear solutions
B) Wicked problems with confusing information
C) Situations where future uncertainties are minimal
D) Operational issues within a firm
14. In the context of strategy and business models, 'emergent strategizing' refers to:
A) A top-down approach dictated by senior management
B) Innovations that disrupt current market dynamics
C) Strategies evolving from organizational culture and habits
D) Planned strategic movements based on competitor actions
