ISOM 351 Midterm || All Solved.
A business model explains correct answers —Who the customers are
—What they value
—The economic logic of the firm
—How the firm delivers value to customers
Right side of BMC (customers) correct answers —Value propositions
—Customer relationships
—Channels
—Customer segments
Statements of the benefits that a customer will get for buying your product or service. Said
differently, what is the problem that your customer is trying to solve. correct answers Value
propositions
types include transactional, long-term, personal assistance, self-service, and automated services
correct answers Customer relationships
how a business gets access to their customers correct answers Channels
define the groups of customers that we hope to attract. At Home Depot, they talk about DIY, Pro
and DIFM as their segments. DIY is the do-it-yourself consumer, Pro is anybody that does
construction or repair for a living, and DIFM is the do-it-for-me consumer. correct answers
Customer segments
Bottom of BMC (economic logic) correct answers —Cost structure
—Revenue streams
Left side of the BMC/Operating model (delivering value) correct answers —Key partners
, —Key activities
—Key resources
—Value propositions
(Main focus of this course)
—Left side of BMC is also called this.
—Provides detailed information about suppliers and other partners; where the organization will
have some sort of physical presence; the specific processes that will be used to deliver value;
organizational issues like metrics and reporting lines, and the information needed to deliver
value. correct answers Operating model
—This type of operating model invokes the idea of "what activities does the company
undertake?" Or, "what do they do?"
—As an example, if someone were to describe Delta Air Lines, they would probably start off
with a description of what they do. They fly planes. Of course Delta uses technology and data,
but technology and data are in support of the primary activity of flying planes. q correct answers
Process-Oriented Operating Models
—This type of operating model couldn't exist without technology, usually digital technology.
—A few companies that fit into this category are Amazon, Uber and Alibaba.
—In a way, what makes them unique from their IRL competitors is that their entire approach is
digitally enabled. correct answers Technology-Oriented Operating Models
—This type of operating model is associated with firms that make their money primarily through
the data that they collect.
—The two most common of these are Facebook, including their apps like Instagram and
WhatsApp, and Google. correct answers Data-Oriented Operating Models
—On OMC
—Adds detail to the business model canvas's "key partnerships."
A business model explains correct answers —Who the customers are
—What they value
—The economic logic of the firm
—How the firm delivers value to customers
Right side of BMC (customers) correct answers —Value propositions
—Customer relationships
—Channels
—Customer segments
Statements of the benefits that a customer will get for buying your product or service. Said
differently, what is the problem that your customer is trying to solve. correct answers Value
propositions
types include transactional, long-term, personal assistance, self-service, and automated services
correct answers Customer relationships
how a business gets access to their customers correct answers Channels
define the groups of customers that we hope to attract. At Home Depot, they talk about DIY, Pro
and DIFM as their segments. DIY is the do-it-yourself consumer, Pro is anybody that does
construction or repair for a living, and DIFM is the do-it-for-me consumer. correct answers
Customer segments
Bottom of BMC (economic logic) correct answers —Cost structure
—Revenue streams
Left side of the BMC/Operating model (delivering value) correct answers —Key partners
, —Key activities
—Key resources
—Value propositions
(Main focus of this course)
—Left side of BMC is also called this.
—Provides detailed information about suppliers and other partners; where the organization will
have some sort of physical presence; the specific processes that will be used to deliver value;
organizational issues like metrics and reporting lines, and the information needed to deliver
value. correct answers Operating model
—This type of operating model invokes the idea of "what activities does the company
undertake?" Or, "what do they do?"
—As an example, if someone were to describe Delta Air Lines, they would probably start off
with a description of what they do. They fly planes. Of course Delta uses technology and data,
but technology and data are in support of the primary activity of flying planes. q correct answers
Process-Oriented Operating Models
—This type of operating model couldn't exist without technology, usually digital technology.
—A few companies that fit into this category are Amazon, Uber and Alibaba.
—In a way, what makes them unique from their IRL competitors is that their entire approach is
digitally enabled. correct answers Technology-Oriented Operating Models
—This type of operating model is associated with firms that make their money primarily through
the data that they collect.
—The two most common of these are Facebook, including their apps like Instagram and
WhatsApp, and Google. correct answers Data-Oriented Operating Models
—On OMC
—Adds detail to the business model canvas's "key partnerships."
