Chapter 4

Question 1

A ________________ is a firm’s plan or recipe for how it creates, delivers, and captures value for its stakeholders.

Answer 1

business model

Question 2

4.2 Which of the following is NOT one of the quadrants of the Barringer/Ireland Business Model Template?

Management team, Operations, Financials, Resources, Core Strategy

Answer 2

Management team

Question 3

4.3 The _______ business model is commonly used by existing firms and those preparing to launch an entrepreneurial venture.

Answer 3

standard

Question 4

Costco uses a _________ business model

Answer 4

low-cost

Question 5

There are two types of business models

Answer 5

Standard business model, disruptive business model

Question 6

4.8 Which of the following is NOT one of the twelve elements in the Barringer/Ireland Business Model Template?

Management team, Channels, Core competencies, Business mission, Revenue streams

Answer 6

Management team

Question 7

4.9 Which category of the Barringer/Ireland Business Model Template includes the firm’s mission?

Answer 7

Core strategy

Question 8

4.10 The company’s ______ tells what causes consumers to pick one company’s products over another’s.

Answer 8

basis of differentiation