Question

17)Which four main areas of the environment should be mapped to obtain a better view of a business model?

- Market forces, industry forces, key trends and macroeconomic forces

- The interests of the key partners, industry forces, key trends and macroeconomic

forces

- The interest of the competitors, key trends, market forces, and macroeconomic

forces

Answer 1

Answer: 17 : Option A : Market Forces, Industry Forces, Key Trends and Macroeconomic Forces

Four main areas of the environment should be mapped to obtain a better view of a business model are as below

- Market forces : Market forces helps the business model to understand the market dynamics and key factors that need to be capture to survive the business model in the targeted market.

- Industry forces : Industry forces are the key forces to understand the industry requirements so that industry requirements can be well understood.

- Key trends : Key trends for the business model are the essential forces that provides the direction for the business so that we can set up the business in the direction of the key trends.

- Macroeconomic forces – Macroeconomic views are the key forces that need to be align for the business model because these will help in the economy and we will be able to generate the desired revenue model for the business.

Other forces are not main four forces as competitors and key partners are not parts of the main forces, but these are essential forces for the business model.