This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a business model? Why is it important? Provide an example to illustrate your answer. What ... (Read 81 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jul 6, 2018
What is a business model? Why is it important? Provide an example to illustrate your answer.
 
  What will be an ideal response?

Question 2

Prior entrepreneurial experience, relevant industry experience, and networking are attributes that strengthen the chances of a founder's success.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cuttiesgirl16

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 6, 2018
Answer to Question 1

A business model is a firm's plan or recipe for how it creates, delivers, and captures value for its stakeholders. Business models are fundamental to a firm's ability to succeed both in the short and long term. Dropbox, for example, has what's referred to as a freemium business model. It offers customers a free account with a set amount of storage space, and makes money by selling premium accounts with more capacity. Dropbox could charge all of its users a monthly fee based on the amount of storage that they use, but that's not its business model. Its business model is based on the belief that by introducing users to its service through a free account, it will ultimately sign up more paid users. A firm's business model also describes how the core aspects of what it does fit together and complement one another.

Answer to Question 2

TRUE


Caiter2013

  • Hero Member
  • *****
  • Posts: 607
Reply #2 on: Jul 6, 2018
Thank you :)


cuttiesgirl16

  • Sr. Member
  • ****
  • Posts: 345
Reply #3 on: Jul 6, 2018
Happy to help you


« previous next »
 

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

The posey bed care model The posey bed care model
Information Processing Model The components of the model operate simultaneously. Information Processing Model The components of the model operate simultaneously.
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Step 8 is very important. Be sure that the customer’s concern has been corrected. Step 8 is very important. Be sure that the customer’s concern has been corrected.
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Physics - Illustrate how you understand charging by rubbing or friction using the guide ... Physics - Illustrate how you understand charging by rubbing or friction using the guide ...
Video: Multiple Sclerosis Animation

For a complete list of videos, visit our video library