A Business Model

question 23

Multiple Choice

A business model

• A)is only important for startups with a large amount of uncertainty.
• B)is intended to provide evidence on whether a concept is viable,not if it can be profitable.
• C)is made up of a revenue model,a cost structure,and key resource requirements.
• D)forces the entrepreneur to be more disciplined about financial projections.

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Definitions:

Team Conflict

A situation where disagreements or tensions arise among members within a team, potentially leading to disputes but also opportunities for problem-solving and improvement.

Active Listening

The practice of paying full attention to a speaker, understanding their message, providing feedback, and retaining the information.

Ground Rule

Basic guidelines or rules that are established at the beginning of a meeting, discussion, or project to ensure smooth and effective operation.

Decision-Making Strategy

A plan or methodology employed to choose among alternatives and make informed decisions.