A Business Model Is a Preliminary Run of a Business

question 13

True/False

A business model is a preliminary run of a business with the goal of assessing how well the overall approach works and what problems it might have.

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Definitions:

Ideas

Mental concepts or thoughts that arise from creative thinking or understanding.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all humans are believed to share.

Group Standard

A set of norms or expected behaviors shared by a group of individuals.

Cognitive Dissonance Theory

A theory suggesting that individuals experience psychological discomfort (dissonance) when holding two or more contradictory beliefs, ideas, or values.