Which of the following dimensions are encompassed by a company's business model? Selecting customers Defining and...
Which of the following dimensions are encompassed by a company's business model?
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Selecting customers |
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Defining and differentiating its product offerings |
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Determining how it will produce goods and services |
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Determining how it will grow the business over time |
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All of these choices. |
Homework Answers
The answer is "All of these choices". A company's business model encompasses the following dimensions -
1. Selecting customers - Every company decides a target group of customers based on their product or services or even location to maximize their goal achievement.
2. Defining and differentiating its product offerings - The company will layout a set of products or services they wanted to or exploring to take to market. They want to define their product offerings or services.
3. Determining how it will produce goods and services - Company will define and provide a description of how they will be going to produce goods or services i.e. their value of a product or service offering
4. Determining how it will grow the business over time - Company will define their goals and objectives for a short and long term perspective because this will help them to monitor business progress and performance over time.
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