Lecture 3 & Article 3

\#\#\# \*\*Multiple-Choice Questions\*\* \#\#\#\# \*\*1.\*\* What is the primary goal of a data strategy according to DalleMule & Davenport (2017)? A. Maximizing the volume of data collected B. Balancing defensive and offensive data management C. Eliminating the need for SSOT and MVOT frameworks...

\#\#\# \*\*Multiple-Choice Questions\*\* \#\#\#\# \*\*1.\*\* What is the primary goal of a data strategy according to DalleMule & Davenport (2017)? A. Maximizing the volume of data collected B. Balancing defensive and offensive data management C. Eliminating the need for SSOT and MVOT frameworks D. Prioritizing offensive strategies over defensive ones \-\-- \#\#\#\# \*\*2.\*\* Which of the following best defines Single Source of Truth (SSOT)? A. A decentralized repository of unstructured data B. A centralized repository ensuring data integrity and governance C. A collection of business-specific data tailored to individual needs D. A data storage model optimized for predictive analytics \-\-- \#\#\#\# \*\*3.\*\* How does Multiple Versions of the Truth (MVOTs) relate to SSOT? A. MVOTs replace SSOT in organizations with high regulatory oversight. B. MVOTs serve as tailored outputs derived from SSOT. C. MVOTs are unregulated versions of SSOT data. D. MVOTs eliminate the need for governance. \-\-- \#\#\#\# \*\*4.\*\* What is a critical difference between defensive and offensive data strategies? A. Defensive strategies emphasize real-time analytics, while offensive strategies do not. B. Offensive strategies focus on compliance, while defensive strategies maximize revenue. C. Defensive strategies address risk minimization, while offensive strategies drive value creation. D. Both focus solely on compliance-related issues. \-\-- \#\#\#\# \*\*5.\*\* What are the \"3 V's\" of big data highlighted by McAfee & Brynjolfsson (2012)? A. Volume, velocity, and validity B. Volume, variety, and velocity C. Velocity, variance, and value D. Variability, validity, and volume \-\-- \#\#\#\# \*\*6.\*\* Which phase in Mintzberg's decision-making model involves designing alternative actions to address strategic problems? A. Recognition phase B. Design phase C. Evaluation phase D. Implementation phase \-\-- \#\#\#\# \*\*7.\*\* How does blockchain enhance interorganizational governance? A. By centralizing control and eliminating redundancy B. Through disintermediation and decentralized trust mechanisms C. By integrating relational norms into digital contracts D. By replacing all existing governance models \-\-- \#\#\#\# \*\*8.\*\* Which of the following is NOT a benefit of blockchain in governance? A. Automated verification B. Peer-to-peer network control C. Eliminating the need for data provenance D. Trustless trust \-\-- \#\#\#\# \*\*9.\*\* What does \"trustless trust\" mean in the context of blockchain? A. Trust based entirely on individual relationships B. Trust derived from reliable system outputs without relying on actors C. Trust dependent on regulatory oversight D. Trust only achievable through centralized governance \-\-- \#\#\#\# \*\*10.\*\* Which governance mode involves centralized control but operates across organizational boundaries? A. Chief mode B. Clan mode C. Custodian mode D. Consortium mode \-\-- \#\#\#\# \*\*11.\*\* Why are contracts insufficient for governing large networks? A. They are prone to bias. B. They cannot scale efficiently and are costly to enforce. C. They rely solely on relational norms. D. They are incompatible with digital systems. \-\-- \#\#\#\# \*\*12.\*\* Which of the following is a key characteristic of defensive data management? A. Real-time analytics B. Regulatory compliance and fraud detection C. Customer satisfaction through predictive analytics D. Improving profitability through integration \-\-- \#\#\#\# \*\*13.\*\* What is a significant advantage of MVOTs? A. They increase the accuracy of the SSOT. B. They provide flexibility for department-specific data analysis. C. They replace the need for centralized governance. D. They eliminate data quality concerns. \-\-- \#\#\#\# \*\*14.\*\* Which process does blockchain governance automate to reduce costs? A. Feedback collection B. Contingency planning and enforcement C. Manual compliance tracking D. Strategic planning \-\-- \#\#\#\# \*\*15.\*\* What challenge in blockchain governance arises from excluding competitors? A. Over-reliance on centralized systems B. Weak network ties and antitrust conflicts C. Increased cost of consensus-building D. Excessive data coverage \-\-- \#\#\#\# \*\*16.\*\* How does blockchain safeguard participants in interorganizational transactions? A. By imposing fines for non-compliance B. By automating verification and enforcement mechanisms C. By creating proprietary standards D. By eliminating the need for network-level governance \-\-- \#\#\#\# \*\*17.\*\* What is a key enabler of scalability in blockchain governance? A. Centralized decision-making B. Seamless coordination through transparency C. Elimination of all contracts D. Standardizing relational norms \-\-- \#\#\#\# \*\*18.\*\* Which of the following describes the primary challenge with \"open data sources\" in big data management? A. They are costly to maintain. B. They lack security and can be easily manipulated. C. They provide insufficient feedback for analytics. D. They reduce data variety. \-\-- \#\#\#\# \*\*19.\*\* Which factor is most important in developing a balanced data strategy? A. Equal investment in SSOT and MVOTs B. Adapting governance mechanisms dynamically C. Choosing between compliance and value creation D. Focusing on real-time integration exclusively \-\-- \#\#\#\# \*\*20.\*\* What is the role of contingency planning in blockchain governance? A. To forecast financial risks in large-scale deployments B. To outline \"if-then\" scenarios for rapid, automated adjustments C. To establish static protocols for relational networks D. To centralize all decision-making authority \-\-- \#\#\# \*\*Answer Key\*\* 1\. B 2\. B 3\. B 4\. C 5\. B 6\. B 7\. B 8\. C 9\. B 10\. C 11\. B 12\. B 13\. B 14\. B 15\. B 16\. B 17\. B 18\. B 19\. B 20\. B