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

Understand different types of computer systems and software used in business.

Recognize the significance and applications of various software programs in organizational contexts.

Identify the characteristics and functions of operating systems.

Understand the role and impact of electronic spreadsheets in decision making and data analysis.

---

Definitions:

MBA Programs

Masters of Business Administration programs, advanced degrees focusing on business management, leadership, and specialized areas of study.

Net Present Value

The difference between the present value of cash inflows and the present value of cash outflows over a period, used in capital budgeting to assess the profitability of an investment.

Tuition

The fee charged by educational institutions for instruction and training services.

Monopolist

A monopolist is a market participant that has exclusive control over the supply of a particular good or service, setting prices without competition.