group 7 entrep 2

Question 1

The 9 Elements of a Business Model

Answer 1

1. Customer Segments
2. Value Proposition
3. Channels
4. Customer Relationships
5. Key Activities
6. Revenue Streams
7. Key Resources
8. Key Partnerships
9. Cost Structure

Question 2

DEVELOPING YOUR BUSINESS STRATEGY

Answer 2

A. Vision and Mission
B. Market Research and Competitive Analysis (SWOT Analysis)
C. Market Positioning and Differentiation
D. Revenue and Growth Strategy

Question 3

EXECUTION AND CONTINUOUS IMPROVEMENT

Answer 3

A. Setting SMART Goals
B. Tracking Key Performance Indicators (KPIs)
C. Innovation and Adaptability

Question 4

Market Positioning and Differentiation

Answer 4

Cost Leadership
Differentiation
Niche Focus

Question 5

Revenue and Growth Strategy

Answer 5

Pricing Strategy
Marketing Strategy
Expansion Plan

Question 6

Setting SMART Goals

Answer 6

Specific
Measurable
Achievable
Relevant
Time-bound

Question 7

Tracking Key Performance Indicators (KPIs)

Answer 7

Sales Revenue
Customer Acquisition Cost (CAC)
Customer Retention Rate
Market Share

Question 8

Innovation and Adaptability

Answer 8

Leverage Technology
Stay Updated on Trends
Adapt Strategies