Question 1

What is the main purpose of the Lean Canvas Model?

Accepted Answer

To simplify the business model development process

Answer

To create a detailed financial plan

Answer

To outline long-term business goals

Answer

To focus solely on marketing strategies

Question 2

What is included in the 'Channels' section of the Lean Canvas Model?

Accepted Answer

The methods used to reach and deliver to customers

Answer

The goals of the business

Answer

The team members involved in production

Answer

The financial costs of the business

Question 3

What is the focus of the 'Key Metrics' section in the Lean Canvas Model?

Accepted Answer

To track the business's performance and progress

Answer

To define the product features

Answer

To outline the company's mission statement

Answer

To list potential investors

Question 4

Which of the following is a common characteristic of the Lean Canvas Model?

Accepted Answer

It emphasizes rapid iteration and customer feedback

Answer

It is focused only on profit margins

Answer

It avoids any form of customer interaction

Answer

It requires extensive market research before launch

Question 5

What does the 'Cost Structure' section in the Lean Canvas Model represent?

Accepted Answer

The financial expenses involved in running the business

Answer

The competitive analysis

Answer

The target market demographics

Answer

The pricing strategy for products

Question 6

In the Lean Canvas Model, what does 'Unfair Advantage' refer to?

Accepted Answer

A unique advantage that cannot be easily copied or bought

Answer

The most popular product feature

Answer

The amount of initial funding available

Answer

The company's location

Question 7

What is a primary benefit of using the Lean Canvas Model for startups?

Accepted Answer

It allows for quick adjustments to the business plan based on feedback

Answer

It focuses only on long-term planning

Answer

It provides guaranteed investment from investors

Answer

It eliminates the need for a written business plan

Question 8

Which part of the Lean Canvas Model helps identify potential challenges faced by a business?

Accepted Answer

Problem

Answer

Revenue Streams

Answer

Customer Segments

Answer

Solution

Question 9

How many sections are there in a LEAN CANVAS MODEL

Accepted Answer

9

Answer

10

Answer

5

Answer

12

Question 10

What was the example used in the video discussion/instruction?

Accepted Answer

a lunch shop

Answer

Electric vehicles

Answer

Phone/camera necklaces

Answer

Drone delivery services

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