Question
What is a key difference between a business model and a business plan?
(1 point)
Responses
A business model is a plan for how a business prepares for its future, while a business plan describes company operations.
A business model is a plan for how a business prepares for its future, while a business plan describes company operations.
A business model describes the components of a company, while a business plan describes how the company will function.
A business model describes the components of a company, while a business plan describes how the company will function.
A business model offers strategies for a company’s leaders, while a business plan describes company elements.
A business model offers strategies for a company’s leaders, while a business plan describes company elements.
A business model is how a company communicates with its partners, while a business plan covers cost structures.
A business model is how a company communicates with its partners, while a business plan covers cost structures.
(1 point)
Responses
A business model is a plan for how a business prepares for its future, while a business plan describes company operations.
A business model is a plan for how a business prepares for its future, while a business plan describes company operations.
A business model describes the components of a company, while a business plan describes how the company will function.
A business model describes the components of a company, while a business plan describes how the company will function.
A business model offers strategies for a company’s leaders, while a business plan describes company elements.
A business model offers strategies for a company’s leaders, while a business plan describes company elements.
A business model is how a company communicates with its partners, while a business plan covers cost structures.
A business model is how a company communicates with its partners, while a business plan covers cost structures.
Answers
GPT-4o mini
The key difference between a business model and a business plan is:
**A business model describes the components of a company, while a business plan describes how the company will function.**
This option effectively highlights that the business model focuses on the fundamental aspects of how a business operates (including value propositions, revenue streams, and customer segments), whereas the business plan details the actionable steps (such as marketing strategies, operational plans, and financial projections) to achieve the company's goals.
**A business model describes the components of a company, while a business plan describes how the company will function.**
This option effectively highlights that the business model focuses on the fundamental aspects of how a business operates (including value propositions, revenue streams, and customer segments), whereas the business plan details the actionable steps (such as marketing strategies, operational plans, and financial projections) to achieve the company's goals.