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Complete list of domains being of digital transformation include:
Complete list of domains being of digital transformation include:
Strategic theme of “build platforms, not just products” is related to the domain of:
Strategic theme of “build platforms, not just products” is related to the domain of:
Incumbent operating models comprise of the following types of digital transaction platforms:
Incumbent operating models comprise of the following types of digital transaction platforms:
The customer network strategy of “be faster, be easier, be everywhere, be always on” is best suited to the following customer network behavior:
The customer network strategy of “be faster, be easier, be everywhere, be always on” is best suited to the following customer network behavior:
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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:
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:
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The three key characteristics of platforms are:
The three key characteristics of platforms are:
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According to the classification of four types of platforms, platforms such as Uber and Airbnb are classified as:
According to the classification of four types of platforms, platforms such as Uber and Airbnb are classified as:
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Platforms create network effects. When the value of a service goes up as the number of users rises, this is:
Platforms create network effects. When the value of a service goes up as the number of users rises, this is:
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The way in which businesses produce, manage, and utilize information is covered by the following domain of digital transformation:
The way in which businesses produce, manage, and utilize information is covered by the following domain of digital transformation:
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Key data types for business strategy are:
Key data types for business strategy are:
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Distinctive characteristic of the big data is NOT:
Distinctive characteristic of the big data is NOT:
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Types of experiments characterized by exploratory nature and informal design are:
Types of experiments characterized by exploratory nature and informal design are:
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Two sided markets are faced with three challenges, namely:
Two sided markets are faced with three challenges, namely:
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Convergent experiments are not characterized by which of the following principles:
Convergent experiments are not characterized by which of the following principles:
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In an analog era, the value proposition was characterized by the following:
In an analog era, the value proposition was characterized by the following:
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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:
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:
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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:
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:
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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:
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:
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The way the firm X started exploring potential impact on them and other incumbents reflects the approach of:
The way the firm X started exploring potential impact on them and other incumbents reflects the approach of:
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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:
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:
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Study Notes
Digital Transformation in IB Exam Sample Questions
- Exam will have 40 questions, approximately 6-7 per lecture topic.
- Exam format is closed-book multiple-choice, with only one correct answer per question.
- Questions may be based on statements and short cases, or multiple-choice questions related to a case study.
- Questions may originate from textbooks, articles, cases, or lectures.
Complete List of Digital Transformation Domains
- Competition, customers, data, value, and patents
- Customers, data, and innovation
- Value, competition, customers, data, and innovation
- Customer networks, big data, and innovation
Strategic Theme of "Build Platforms, Not Just Products"
- Related to the domain of innovation.
Incumbent Operating Models and Digital Transaction Platforms
- Include platforms, customer networks, and products.
- Also encompass process digitalization, communication digitalization, and buyer digitalization.
- Customer networks focus on being faster, easier, and everywhere, always on.
Customer Network Behaviors
- Important behaviors include customize, access, respond to desires, and connect.
Changes in Strategic Assumptions from Analog to Digital
- Shift from distinct partners/rivals to blurred distinctions/rivals.
- Move from firm-based assets to network-based assets.
- Related to the domain of customer networks.
Characteristics of Platforms
- Key characteristics include distinct customer types, direct interaction, and facilitating value.
- Other characteristics are curated offering, competition, and innovation, along with engagement, customization, and personalization.
Platform Types
- Platforms such as Uber and Airbnb are classified as exchange platforms.
- Other platform types include transaction systems and ad-supported media, as well as hardware/software standards.
Network Effects in Platforms
- Value increases as the number of users increases, this is an indirect network effect.
- A direct network effect is when the service value directly correlates with the number of service users.
- A multisided network effect involves multiple interdependent user groups, for example, both buyers and sellers.
- A semidirect network effect involves a combination/derivation of a direct and indirect effect.
Information Utilization in Digital Transformation
- The process of producing, managing, and utilizing information falls under the data domain.
Key Data Types for Business Strategy
- Business process data, product/service data, and customer data.
- Also network data, media data, and competitor data, as well as open, real-time, and unstructured data.
Distinctive Characteristics of Big Data
- Structure, volume, velocity, and variety is important in understanding big data.
Types of Experiments (Exploratory Nature)
- Convergent experiments involve exploratory nature.
- Divergent experiments involve exploratory nature - more informal design.
- Causal experiments involve testing cause and effect principles through formal experimentation.
- Confirmatory experiments involve testing and validating earlier hypothesis.
Two-Sided Markets Challenges
- Pricing the platform, winner-take-all dynamics, and threat of envelopment are major challenges.
- Change in business models, threat of envelopment, and free-riding.
- Direct interactions, advertising, and pricing
Convergent Experiments Principles
- Causal hypothesis, test and control groups, and informal design principles are involved.
Value Proposition in Analog Era
- The value proposition in the analogue era was primarily defined by specific industry features, not changing customer needs, or adaptable to various circumstances, but mainly by the industry itself.
- It was defined by digital platforms in the analog/online era
Routes for Shrinking Markets
- New customers, disrupting partnerships, emerging threats, and also disrupting supply chains are routes for shrinking markets.
Organizational Challenges Faced by Firms
- Important organizational challenges may include dedicating leadership, allocating talent and treasure, avoiding myopia, or understanding and effectively using use cases in business.
Case Study: Battle Between X and Y Car Firms
- Firm X (established player) focused on large, reliable cars.
- Firm Y (new entrant) introduced car sharing/leasing model.
- Questions in the case study address development strategy (inside or outside) and also disruptor strategies (such as creating a competitor firm/service).
- The questions in the case study revolve around understanding the market, understanding customer strategies, and business development strategies in the case of disruptor firms impacting established firms.
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Description
Prepare for your IB exam with this collection of sample questions focused on digital transformation. The quiz covers essential domains such as competition, customers, and innovation, and includes a variety of question types from lectures and case studies. Test your understanding and readiness with this comprehensive practice set.
