Transformative Business Models: Overview & Types


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question 1 of 3

Bernaly has created an online marketplace that allows people to sell their crafts. Because the risk of this type of business is spread around among all the sellers and the marketplace itself, Bernaly's business could be described as _____.

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1. Juliana is creating a transformative business that teaches girls how to fix cars. To learn, they take old cars and fix them up before donating them to local charities. Those charities then donate their old cars for Juliana's group to work on. This business model, based on recycling and reusing, is _____.

2. Mohammed has created an app that allows businesses to rent technology, like a projector or a set of laptops, only when they need it. This means that businesses only pay for the technology when they want to use it, a model known as _____.

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About This Quiz & Worksheet

Test your understanding of transformative business models with this five-question quiz and worksheet. The quiz requires you to recall a business model in which the customer pays only when they want to use a product or service, among other details.

Quiz & Worksheet Goals

This quiz tests you on the following:

  • Type of business in which the risk is spread around
  • Business model that involves recycling and reusing
  • Paying only to use something when you need it
  • When people rent out something they own
  • Elements often found in transformative businesses

Skills Practiced

  • Information recall - access the knowledge you've gained about a business model based on recycling and reusing
  • Interpreting information - verify that you can read information about renting out an item that you own and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about elements of transformative businesses

Additional Learning

Keep learning about this topic with the lesson titled Transformative Business Models: Overview & Types. Here's a quick look at what's covered:

  • Six key elements of transformative businesses
  • Popular companies that use emergent technologies
  • Adapting in response to industry changes