CPI Business Model Canvas & Lean Startup 3

Question 1

Which of the nine Business Model Canvas building blocks represents the network of suppliers and partners that make the business model work?

Accepted Answer

Key Partners

Answer

Key Partners describes the network of suppliers and partners that make the business model work, helping companies optimize their models, reduce risk, or acquire resources.

Question 2

In Lean Startup, the 'Five Whys' technique is primarily used to:

Accepted Answer

Identify the root cause of a problem by asking 'why' five times

Answer

The Five Whys technique involves repeatedly asking 'why' to peel back layers of symptoms and identify the root cause of a problem.

Question 3

A 'freemium' business model is best described as which type of Revenue Stream pattern in the Business Model Canvas?

Accepted Answer

Subscription fees with a free tier that converts to paid

Answer

Freemium is a subscription model where a basic version is offered for free and premium features require payment, making it a subscription-based revenue stream with a free entry point.

Question 4

In Lean Startup methodology, what is an 'innovation accounting' metric used for?

Accepted Answer

Establishing baseline metrics, tuning the engine, and deciding to pivot or persevere

Answer

Innovation accounting is a framework for measuring startup progress, establishing a baseline, tuning the engine of growth, and making the critical decision to pivot or persevere.

Question 5

Which Business Model Canvas block identifies the most important things a company must do to make its business model work?

Accepted Answer

Key Activities

Answer

Key Activities describes the most important things a company must do to make its business model work, such as production, problem-solving, or platform/network management.

(CPI) Certified Professional Innovator Practice Test

(CPI) Certified Professional Innovator Practice Test

CPI Business Model Canvas & Lean Startup 3