Digital Transformation in IB - Exam Sample Questions
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Questions and Answers

Complete list of domains being of digital transformation include:

  • Customer networks, big data and innovation
  • Competition, customers, data, value and patents
  • Customers, data and innovation
  • Value, competition, customers, data and innovation (correct)
  • Strategic theme of “build platforms, not just products” is related to the domain of:

  • Value
  • Data
  • Competition (correct)
  • Innovation
  • The customer network strategy of “be faster, be easier, be everywhere, be always on” is best suited to the following customer network behavior:

  • Respond to desire
  • Access (correct)
  • Connect
  • Customize
  • Changes in strategic assumptions from the analog to the digital age in terms of moving from having distinctions between partners and rivals to blurred distinctions and rivals and moving from having assets in the firm to having assets that reside in networks is related to the following domain of digital transformation:

    <p>Competition</p> Signup and view all the answers

    What is the primary reason digital transformation is about strategy rather than just technology?

    <p>Strategy involves rethinking the core of the business, not just its technology infrastructure.</p> Signup and view all the answers

    According to the classification of four types of platforms, platforms such as Uber and Airbnb are classified as:

    <p>Exchange</p> Signup and view all the answers

    Platforms create network effects. When the value of a service for one group goes up as the number of users from the same group rises, this is:

    <p>Direct network effect</p> Signup and view all the answers

    The way in which businesses produce, manage, and utilize information is covered by the following domain of digital transformation:

    <p>Data</p> Signup and view all the answers

    Key data types for business strategy are:

    <p>Business process data, product/service data and customer data</p> Signup and view all the answers

    Which of the following best illustrates the competitive advantage of a platform business model over a traditional product-based model in the digital age?

    <p>A platform enables businesses to scale by leveraging external participants who create and exchange value, increasing network effects.</p> Signup and view all the answers

    What is the primary advantage of building platforms instead of traditional product-based business models?

    <p>The ability to scale quickly through network effects</p> Signup and view all the answers

    Distinctive characteristic of the big data is NOT:

    <p>Structure</p> Signup and view all the answers

    Types of experiments characterized by exploratory nature and informal design are:

    <p>Divergent</p> Signup and view all the answers

    What is one of the major challenges for businesses when dealing with data in the digital age?

    <p>Turning data into valuable insights</p> Signup and view all the answers

    Convergent experiments are not characterized by which of the following principles:

    <p>Informal</p> Signup and view all the answers

    In an analog era, the value proposition was characterized by the following:

    <p>Defined by industry</p> Signup and view all the answers

    Once the new technologies kick in, this can decline the relevance of a once valued product or service. One of the routes out of shrinking market can be through:

    <p>New customers</p> Signup and view all the answers

    As firms try to continuously adapt their value's proposition, they may run into some organizational challenges. Which of the following does NOT belong to these challenges:

    <p>Use case of their business</p> Signup and view all the answers

    The way the firm Y started selling their product/service to the customers and entering the car market is an example of which trajectory of the disruptive business models:

    <p>Outside in</p> Signup and view all the answers

    The way the firm X started exploring potential impact on them and other incumbents reflects the approach of:

    <p>Laddering</p> Signup and view all the answers

    Creation of a firm of “X sharing cars” by X to directly compete with the firm Y reflects which of the strategies to deal with disruptors:

    <p>Launch an independent disruptor</p> Signup and view all the answers

    Study Notes

    Digital Transformation in IB - Exam Sample Questions

    • Exam will have 40 multiple-choice questions, approximately 6-7 per lecture topic.
    • Questions will be closed-book.
    • Mostly single-answer questions.
    • Some sections will feature short cases followed by multiple choice questions.
    • Questions may come from the textbook, slides, and lectures.

    Domains of Digital Transformation

    • A complete list of domains includes: Value, competition, customers, data and innovation.

    Strategic Themes

    • "Build platforms, not just products" is related to the innovation domain.

    Customer Network Strategy

    • The strategy of "be faster, be easier, be everywhere, be always on" is best suited to customer network behaviours that prioritize customization, access, responding to desires, and connection.

    Strategic Assumptions in Digital Age

    • Changes in the analog to digital age include shifting from distinct partners/rivals to blended distinctions, and assets shifting from firm-held to network-oriented. This is part of customer networks.

    Digital Transformation Domains

    • Key parts of digital transformation include domains like customer networks, competition, and innovation.

    Data Types in Business Strategy

    • Key data types for business strategy are business process data, product/service data, and customer data; network data, media data, and competitor data; direct/indirect effects data; and open, real-time, and unstructured data.

    Platform Business Model Advantage

    • Platforms have advantages over traditional product-based models by scaling through external participants and leveraging network effects. This enables better control over quality.

    Big Data Characteristics

    • Key characteristics of big data include volume, velocity, variety, and structure.

    Types of Experiments

    • Convergent experiments are characterized by exploratory natures and informal designs.

    Challenges When Dealing with Data

    • One major challenge in the digital age is turning data into valuable insights, storing data efficiently, and avoiding the use of unstructured data.

    Analog Era Value Proposition

    • In the analog era, value propositions were based on industry definitions and adapting to changing customer needs.

    Product Relevance in the Digital Age

    • The relevance of products may decrease as technology evolves, necessitating adapting digital strategies to adjust.

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    Description

    Prepare for your exam with these sample questions focusing on Digital Transformation in International Business. This quiz covers various topics, including strategic themes, customer network strategies, and the domains of digital transformation. Test your knowledge on the key concepts and assumptions critical for success in the digital age.

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