The First Two Steps in Building a Business Model Involve

question 34

Multiple Choice

The first two steps in building a business model involve ____ and ____.

• A)identifying position in the value chain / developing competitive advantage ​
• B)identifying position in the value chain / creating customer value
• C)identifying investors / identifying competition.
• D)creating customer value / identifying sources of revenue
• E)developing competitive advantage / determining cost drivers

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Definitions:

Openness

Refers to the quality of being receptive and transparent to new ideas, experiences, and information.

Customer Service Representatives

Individuals who interact with customers to handle complaints, process orders, and provide information about products or services.

Openness

A personality trait that features characteristics such as imagination and insight, and those high in this trait also tend to have a broad range of interests.

Agreeableness

A personality trait characterized by warmth, kindness, and cooperativeness, influencing how an individual interacts with others.