In regard to business models, which of the following statements is incorrect?
A) There is a standard business model that most firms follow.
B) A firm's business model is inherently dependent on the collection of resources it controls and the capabilities it possesses.
C) It is dangerous for a company to assume that it can be successful by simply copying the business model of another firm.
D) A firm's business model is its plan or diagram for how it competes.
E) It is often difficult to determine what another firm's business model is.

Question

Quizplus · Accepted Answer

There is no standard business model that most firms follow as each business has its own unique set of resources, capabilities, and goals. Business models can vary greatly depending on the industry, target market, and competitive landscape.

In Regard to Business Models, Which of the Following Statements