Jennifer Barnes has just finished writing a business plan for a startup in the medical products industry. She has now reached the point where she needs to develop a plan for how her firm will compete, use its resources, structure its relationships, interface with customers, and create value to sustain itself on the basis of the profits it earns. Jennifer needs to establish her firm's:

Question

Quizplus · Accepted Answer

Jennifer needs to establish her firm's business model, which outlines how the firm will generate revenue and sustain itself in the marketplace. This includes competitive positioning, resource allocation, customer relationships, and value creation strategies. The other answer choices may be components or subsets of the business model, but do not encompass the whole plan.

Jennifer Barnes Has Just Finished Writing a Business Plan for a Startup