Podcast
Questions and Answers
Rogers (2016) describes a shift from competition being confined within defined industries, with clear distinctions between partners and rivals, to a scenario where competition spans fluid industries and the "winner takes all" due to network effects. The change is related to what domain of digital transformation?
Rogers (2016) describes a shift from competition being confined within defined industries, with clear distinctions between partners and rivals, to a scenario where competition spans fluid industries and the "winner takes all" due to network effects. The change is related to what domain of digital transformation?
- Turning data into assets
- Innovating through rapid experimentation
- Adapting your value proposition
- Building platforms and not just products (correct)
According to the research presented in the lecture two on customer networks in relation to how social media integrations and deployment affects internationalization, which of the following statements is NOT correct?
According to the research presented in the lecture two on customer networks in relation to how social media integrations and deployment affects internationalization, which of the following statements is NOT correct?
- Increased use of social media leads to higher commitment with customers
- Increased use of social media leads to reduced costs of communication with internal customers and suppliers
- Increased use of social media leads to higher speed of internationalization with effects being stronger for smaller firms (correct)
- Increased use of social media leads to higher speed of internationalization with effects being strong for higher export intensity B2C firms
In the lecture 4, we discussed to topic of data. What is one of the main challenges businesses face when utilizing big data?
In the lecture 4, we discussed to topic of data. What is one of the main challenges businesses face when utilizing big data?
- Limited access to data storage technologies
- Difficulty in deriving meaningful insights and converting data into action (correct)
- HIgh costs of data collection
- Lack of sufficient data sources
According to different phases of digital transformation discussed during the first lecture, the phase concerned with how digital tools can be used to alter business processes is:
According to different phases of digital transformation discussed during the first lecture, the phase concerned with how digital tools can be used to alter business processes is:
A tech company FinPay, introduces a new digital wallet application that allows users to link their ban accounts, make online purchases, and pay at physical stores using QR codes. The platform ensures secure transactions between buyers and sellers while facilitating easy money transfers. Which type of platform business model is FinPay primarily employing?
A tech company FinPay, introduces a new digital wallet application that allows users to link their ban accounts, make online purchases, and pay at physical stores using QR codes. The platform ensures secure transactions between buyers and sellers while facilitating easy money transfers. Which type of platform business model is FinPay primarily employing?
A business is conducting experiments in several different countries to test product-market fit. What should the business focus on according to the principles of rapid experimentation?
A business is conducting experiments in several different countries to test product-market fit. What should the business focus on according to the principles of rapid experimentation?
Rogers (2016) explains that the key feature of platforms is that their value increases as more customers use them and explains this phenomenon as network effects. In this respect, indirect network effects:
Rogers (2016) explains that the key feature of platforms is that their value increases as more customers use them and explains this phenomenon as network effects. In this respect, indirect network effects:
The electronics company "PericaTech" has increasingly embraced omnichannel and mobile commerce integrated experience at physical and digital touchpoints and mobile payment options. This approach is a key component of which strategy?
The electronics company "PericaTech" has increasingly embraced omnichannel and mobile commerce integrated experience at physical and digital touchpoints and mobile payment options. This approach is a key component of which strategy?
In chapter 4 on data, what strategic tool does Rogers (2016) introduce to help businesses generate value from customer data?
In chapter 4 on data, what strategic tool does Rogers (2016) introduce to help businesses generate value from customer data?
Rogers (2016) suggests that the digital changes of the domain of customers in the way that the new model is characterized by the situation where current and potential customers have access to a wide variety of digital platforms that allow them to interact, publish, broadcast, and innovate and thereby shape brands, reputations, and markets. This model is referred to as:
Rogers (2016) suggests that the digital changes of the domain of customers in the way that the new model is characterized by the situation where current and potential customers have access to a wide variety of digital platforms that allow them to interact, publish, broadcast, and innovate and thereby shape brands, reputations, and markets. This model is referred to as:
In lecture 4 on data, we discussed how data-based business models are reshaping internationalization strategies. When a company focuses on globalizing its value chains while simultaneously building local sales channels, this is an example of:
In lecture 4 on data, we discussed how data-based business models are reshaping internationalization strategies. When a company focuses on globalizing its value chains while simultaneously building local sales channels, this is an example of:
Which of the following is NOT a key competitive benefit of platform business models?
Which of the following is NOT a key competitive benefit of platform business models?
Personalized recommendations provided by streaming platforms like Spotify, which suggest content based on user preferences and listening history, are examples of which customer strategy?
Personalized recommendations provided by streaming platforms like Spotify, which suggest content based on user preferences and listening history, are examples of which customer strategy?
In our last lecture on disruption, we discussed defining characteristics of big-bang disruptors. These are:
In our last lecture on disruption, we discussed defining characteristics of big-bang disruptors. These are:
SuljoNet, an e-commerce platform, initially struggled to compete with traditional retail giants. However, as the platform grew, it introduced a feature allowing third-party sellers to offer unique products, attracting more customers and creating a cycle where the increased demand attracted even more sellers. This enabled SuljoNet to eventually surpas traditional retailers in market value. This competitive shift is best explained by:
SuljoNet, an e-commerce platform, initially struggled to compete with traditional retail giants. However, as the platform grew, it introduced a feature allowing third-party sellers to offer unique products, attracting more customers and creating a cycle where the increased demand attracted even more sellers. This enabled SuljoNet to eventually surpas traditional retailers in market value. This competitive shift is best explained by:
Rogers (2016) suggests that there are a few key variables that impact the outcome of business model disruption. Which of the following is NOT one of these?
Rogers (2016) suggests that there are a few key variables that impact the outcome of business model disruption. Which of the following is NOT one of these?
In 2008, the company NexCo committed itself to continuously adapting its value proposition to better align with customer preferences. They appointed a new Chief Executive Offer (CEO) and introduced the role of Chief Digital Officer (CDO) to lead the company's digital transformation and drive innovation. However, in 2010, NexCo suddenly replaced its CEO, followed by the replacement of the CDO in 2011. Then, in 2013, the company replaced the CEO once again. This new CEO held the position for 3 years before being succeeded by another in 2016, who reaffirmed the company's dedication to digital transformation and customer-centric strategies. Alongside this, NexCo established a new digital business unit, but it lacked staffing and funding. These challenges reflect which of the following organizational challenges?
In 2008, the company NexCo committed itself to continuously adapting its value proposition to better align with customer preferences. They appointed a new Chief Executive Offer (CEO) and introduced the role of Chief Digital Officer (CDO) to lead the company's digital transformation and drive innovation. However, in 2010, NexCo suddenly replaced its CEO, followed by the replacement of the CDO in 2011. Then, in 2013, the company replaced the CEO once again. This new CEO held the position for 3 years before being succeeded by another in 2016, who reaffirmed the company's dedication to digital transformation and customer-centric strategies. Alongside this, NexCo established a new digital business unit, but it lacked staffing and funding. These challenges reflect which of the following organizational challenges?
An ice cream company observes that their product sales increase during the summer. They immediately decide to increase advertising during the summer without exploring this further. What potential oversight is the ice cream company making based on the myths of nig data?
An ice cream company observes that their product sales increase during the summer. They immediately decide to increase advertising during the summer without exploring this further. What potential oversight is the ice cream company making based on the myths of nig data?
Imagine that you are a manager at a tech startup. Your team is split between convergent and divergent experimentation. How do you decide which approach to use for a new product feature?
Imagine that you are a manager at a tech startup. Your team is split between convergent and divergent experimentation. How do you decide which approach to use for a new product feature?
Rogers (2016) introduces the value proposition roadmap as a tool to assess and adapt their value proposition to better meet customer needs. According to Rogers (2016), what is the first step a firm should take when using this tool?
Rogers (2016) introduces the value proposition roadmap as a tool to assess and adapt their value proposition to better meet customer needs. According to Rogers (2016), what is the first step a firm should take when using this tool?
Organization Jaran has been in the education business for a long time, primarily offering on-campus educational services. However, with the rise of the internet and other digital technologies. Jaran experienced a decline in revenues. In response, they created an online platform that not only replicated their on-campus offerings but also allowed students to customize how they select and follow courses. Additionally, they developed an app to assist their students in preparation for exams. This enabled Jaran to remain competitive and profitable in the market. This suggests that Jaran engaged in which of the following strategies to exit a declining market?
Organization Jaran has been in the education business for a long time, primarily offering on-campus educational services. However, with the rise of the internet and other digital technologies. Jaran experienced a decline in revenues. In response, they created an online platform that not only replicated their on-campus offerings but also allowed students to customize how they select and follow courses. Additionally, they developed an app to assist their students in preparation for exams. This enabled Jaran to remain competitive and profitable in the market. This suggests that Jaran engaged in which of the following strategies to exit a declining market?
According to our discussion in lecture 1, what is usually the main reason why digital transformation efforts often fail?
According to our discussion in lecture 1, what is usually the main reason why digital transformation efforts often fail?
Rogers (2016) suggests that there are 7 principles of experimentation. Which of the following does NOT belong to the experimentation principles suggested by Rogers (2016)?
Rogers (2016) suggests that there are 7 principles of experimentation. Which of the following does NOT belong to the experimentation principles suggested by Rogers (2016)?
Which of the following is NOT a characteristic of value proposition differentials in disruptive business models?
Which of the following is NOT a characteristic of value proposition differentials in disruptive business models?
Mujo Retail, an online fashion company, has been closely tracking customer conversations on social media platforms to understand trending fashion preferences and concerns. In addition, they also hosted the community for their customers. This practice is an example of which strategy?
Mujo Retail, an online fashion company, has been closely tracking customer conversations on social media platforms to understand trending fashion preferences and concerns. In addition, they also hosted the community for their customers. This practice is an example of which strategy?
Which of the following questions can best be answered by a divergent experimental design:
Which of the following questions can best be answered by a divergent experimental design:
A new online education platform, LearnFlex, initially targets remote areas where traditional universities do not offer courses. Over time, LearnFlex expands its offerings and improves its technology, eventually attracting students from urban areas who would have otherwise enrolled in established universities. As LearnFlex continues to grow, it starts to draw students directly from top universities, offering more affordable and flexible degree programs. Which of the following customer trajectories in LearnFlex following in trying to disrupt traditional universities?
A new online education platform, LearnFlex, initially targets remote areas where traditional universities do not offer courses. Over time, LearnFlex expands its offerings and improves its technology, eventually attracting students from urban areas who would have otherwise enrolled in established universities. As LearnFlex continues to grow, it starts to draw students directly from top universities, offering more affordable and flexible degree programs. Which of the following customer trajectories in LearnFlex following in trying to disrupt traditional universities?
What does "veracity" refer to in the context of big data?
What does "veracity" refer to in the context of big data?
In the lecture on disruptions, we explored the differences between incumbents and disruptive firms in the context of the video game industry. Which of the following statements best reflects the differences between incumbents and disruptive firms in terms of internationalization?
In the lecture on disruptions, we explored the differences between incumbents and disruptive firms in the context of the video game industry. Which of the following statements best reflects the differences between incumbents and disruptive firms in terms of internationalization?
According to Rogers (2016), what are the 5 key domains impacted by digital transformation?
According to Rogers (2016), what are the 5 key domains impacted by digital transformation?
An automaker, AutoLux, spends most of its time focusing on designing and improving its range of vehicles, including SUVs, sedans, and minivans. The company makes decisions based on engineering, pricing, and product features, without considering how customers actually use these vehicles or the value they provide in daily life. In this way, AutoLux ignores customers and value to them, which leads to strategic myopia. According to Rogers (2016) who suggests 5 concepts of market value, this situation would reflect which of the following?
An automaker, AutoLux, spends most of its time focusing on designing and improving its range of vehicles, including SUVs, sedans, and minivans. The company makes decisions based on engineering, pricing, and product features, without considering how customers actually use these vehicles or the value they provide in daily life. In this way, AutoLux ignores customers and value to them, which leads to strategic myopia. According to Rogers (2016) who suggests 5 concepts of market value, this situation would reflect which of the following?
Rogers (2016) suggests that platforms compete not only with traditional businesses but also against other platforms. In this competition between platforms, Rogers (2016) suggests that they compete in 5 areas of value. Which of the following is NOT one of these 5:
Rogers (2016) suggests that platforms compete not only with traditional businesses but also against other platforms. In this competition between platforms, Rogers (2016) suggests that they compete in 5 areas of value. Which of the following is NOT one of these 5:
In the domain of the customers, Rogers (2016) suggests a few organizational challenges that firms might have to overcome in their efforts to digitally transform. One of them is so-called bridging silo's. This challenge of bridging silo's refers to:
In the domain of the customers, Rogers (2016) suggests a few organizational challenges that firms might have to overcome in their efforts to digitally transform. One of them is so-called bridging silo's. This challenge of bridging silo's refers to:
According to Rogers (2016), how is the value creation evolving in the digital age?
According to Rogers (2016), how is the value creation evolving in the digital age?
Rogers (2016) suggests that the secret of success for digital platforms is that the platform offers powerful benefits in relation to traditional firms. These are:
Rogers (2016) suggests that the secret of success for digital platforms is that the platform offers powerful benefits in relation to traditional firms. These are:
In relation to scaling up innovation, Rogers (2016) suggests various paths for doing so. Which of the following describes the roll-out approach where a firm can iterate quickly after launch and can limit roll-out?
In relation to scaling up innovation, Rogers (2016) suggests various paths for doing so. Which of the following describes the roll-out approach where a firm can iterate quickly after launch and can limit roll-out?
Which of the following is an example of a direct network effect?
Which of the following is an example of a direct network effect?
According to the content discussed in the lecture in relation to turning the data into assets, which of the following represents characteristics of the big data?
According to the content discussed in the lecture in relation to turning the data into assets, which of the following represents characteristics of the big data?
TechGlobal is considering 2 different strategies for international expansion. One option is to invest in local offices, manage local staff, and directly control the entire operation in each new market. The second option is to use local partners and "mini entrepreneurs" who can deliver services through the platform, while TechGlobal focuses on facilitating the platform and transactions. What is the key difference between these 2 approaches?
TechGlobal is considering 2 different strategies for international expansion. One option is to invest in local offices, manage local staff, and directly control the entire operation in each new market. The second option is to use local partners and "mini entrepreneurs" who can deliver services through the platform, while TechGlobal focuses on facilitating the platform and transactions. What is the key difference between these 2 approaches?
A software company is developing a new feature for its app and wants to ensure that the feature will increase user engagement. They already have a hypothesis that adding a personalized notification system will improve user retention rates. To test this, they decide to run an experiment with 2 groups: one with the personalized notifications and one without. The goal is to gather precise, data-driven results to either confirm or reject their hypothesis. What type of experimentation Is the company using?
A software company is developing a new feature for its app and wants to ensure that the feature will increase user engagement. They already have a hypothesis that adding a personalized notification system will improve user retention rates. To test this, they decide to run an experiment with 2 groups: one with the personalized notifications and one without. The goal is to gather precise, data-driven results to either confirm or reject their hypothesis. What type of experimentation Is the company using?
Flashcards
Capital of France (example flashcard)
Capital of France (example flashcard)
Paris
