Why Is It Important to Craft a Business Model

question 30

Multiple Choice

Why is it important to craft a business model?

• A)Because it sets forth management's game plan for maximizing profits for shareholders
• B)Because it details exactly how management's strategy will result in the achievement of the company's strategic intent
• C)Because it is a part of an operating model that focuses on delivering excellence and creating value for external shareholders and internal labor force
• D)Because it sets forth the key components of the enterprise's business approach, indicates how revenues will be generated, and makes a case for why the strategy can deliver value to customers in a profitable manner
• E)Because it sets forth management's long-term action plan to match the business standards set by formidable rivals

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Definitions:

Learning Processes

The methods or activities by which individuals acquire new information or skills, involving cognitive, emotional, and environmental influences as well as experiences.

Cognitive Functioning

Refers to an individual's ability to think, reason, remember, and process information.

Staff

The collective group of employees or personnel working for an organization, institution, or a specific project.

Day Care Center

A place where children from infancy through childhood are cared for outside of their home during the day, often including educational and social activities.