A Business Model Is a Type of Business Plan

question 54

True/False

A business model is a type of business plan.

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Definitions:

Competence

The ability to do something successfully or efficiently, often referring to a specific skill or area of knowledge.

Self-Determination

The process by which individuals control their own life, make their own choices, and pursue their genuine interests without undue external influence.

Extrinsic Rewards

Benefits or incentives provided by external sources, such as money, grades, or praise, which motivate behavior.

Intrinsic Motivation

The drive to engage in activities for their own sake, for the enjoyment or satisfaction derived directly from the activity itself, rather than for some separable consequence.