Building Blocks of Success: Test Your Business Model Canvas Knowledge

Business Model Canvas

Welcome to the Business Model Canvas Quiz!

This quiz will test your knowledge about creating a Business Model Canvas for small businesses. Are you ready to put your knowledge to the test?

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1. What is a business model canvas?

A tool to analyze the competition.

A tool to organize a brand’s artwork.

A tool for visualizing a company’s business model.

A tool to outline the company’s organizational structure.

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2. What is one of the primary reasons small businesses should develop a business model canvas?

To help them find an uncontested submarket.

It is a requirement in some states when registering a business with the Secretary of State.

It is required to secure funding from a bank or investors.

It helps to predict future market trends.

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3. What are the main components of a business model canvas?

Marketing plan, financial plan, operating plan.

Value proposition, customer segments, channels, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure.

Product design, manufacturing process, and distribution plan.

None of the above.

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4. Which of the following is NOT a customer segment type?

Mass market

Segmented Market

Demographic Market

Niche Market

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5. Which value proposition type is NOT among the eleven standard types when developing a business model canvas?

Brand/Status

Cost Reduction

Accessibility

Quality

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6. What is included in the key resources block of a business model canvas?

The resources a business needs to operate.

The most important resources the business already has.

The resources that a business has that its competition does not.

All of the above.

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7. What are the five practices and activities you must address in the channel block of the business model canvas?

Evaluation, attractiveness, shipping, purchase, and customer support.

Awareness, evaluation, purchase, delivery, and customer support.

Ideation, validation, design, development, and delivery.

Design, manufacture, deliver, partner, and customer service.

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8. What is NOT a typical customer relation type?

Personal assistant

Automated System

AI System

Self-Service

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9. What is NOT a typical revenue stream often cited in a business model canvas?

Asset sale

Lending fee

Marketing fee

Brokerage fee

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10. How often should a small business update its business model canvas?

As the business evolves and grows.

Monthly

Once a year.

Once every five years.

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11. What is a typical goal of developing a business model canvas?

To provide a detailed financial projection for a business.

To help businesses evaluate their social impact.

To help businesses develop and communicate their business strategy.

To provide a step-by-step guide for starting a new business.

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12. What is the purpose of the revenue streams block of the business model canvas?

To identify the price of the products and services offered by the business.

To list all of the different products and services offered by the business.

To identify the different sources of revenue that the company will generate.

To calculate the total revenue that the business generates each year.

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13. What are the four environmental forces or trends outside of the business’s control that can potentially affect a business model canvas?

Macroeconomic, microeconomic, personal, and automation.

Market, Industry, key trends, and macroeconomic.

Temperature, flood, fire, and wind.

All of the above.

Your score is

The average score is 57%

Building Blocks of Success: Test Your Business Model Canvas Knowledge

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