The Four Main Elements of the Business Model Put Forward

question 1

Multiple Choice

The four main elements of the business model put forward by Christensen et al. (2016) are Value Proposition, Resources, Processes and ____________?

• A) Systems capability
• B) Market offering
• C) Profit Formula
• D) Technology

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Definitions:

Value Chain

The sequence of activities carried out by organizations to create valued goods and services to consumers.

Open System Chain

A concept in systems theory referring to the interconnectedness and interaction between a system and its external environment, allowing for exchange of information, energy, and materials.

Production

refers to the process of creating goods and services through the combination of human labor, materials, and technology.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness.