Chapter 5 pt 2 - Test 2 Flashcards
1
Q
The Triple Bottom Line Focus
A
- Economic
- Social
- Ecological Performance
2
Q
The Triple Bottom Line Three dimensions
A
Profits: Economic Dimension
People: Social Dimension
Planet: Ecological Dimension
3
Q
Sustainable Strategy
A
A Focus on the Triple Bottom Line that overlaps people, profits, and the planet
4
Q
What Is a Business Model?
A
Details a firm’s competitive tactics and initiatives
5
Q
Popular Business Models
A
- Razor-razor blades
- Subscription
- Pay as you go
- Freemium
- Wholesale
- Agency
- Bundling
6
Q
Razor-razor blades Business Model
A
pay for replacements
7
Q
Subscription Business Model
A
pay for access
8
Q
Pay as you go Business Model
A
pay for what you consume
9
Q
Freemium Business Model
A
pay for extra features/add-ons
10
Q
Wholesale Business Model
A
products sold at a discount
11
Q
Agency Business Model
A
products sold on commission
12
Q
Bundling Business Model
A
more than one product sold at a discount
13
Q
Dynamic Nature of Business Models
A
- Can be combined
- Can evolve
- Can be disrupted
