Week 6 (MC) Quiz - PDF

1\. **Which of the following is an example of a marketplace platform?** a\) Facebook b\) Google **c) Uber (Correct)** d\) Wikipedia 2\. **What is the primary objective of aggregators?** a\) To create efficient matches between consumers and suppliers **b) To provide valuable services to users...

1\. **Which of the following is an example of a marketplace platform?** a\) Facebook b\) Google **c) Uber (Correct)** d\) Wikipedia 2\. **What is the primary objective of aggregators?** a\) To create efficient matches between consumers and suppliers **b) To provide valuable services to users and connect them with external producers (Correct)** c\) To collect and analyze user data d\) To replace traditional labor statistics 3\. **What does "inverted firm" refer to in the context of platforms?** a\) Firms with entirely internal production **b) Firms outsourcing production to external users (Correct)** c\) Firms using vertical integration d\) Firms focusing only on consumers 4\. **Which is NOT a cause of market power in platforms?** a\) Economies of scale b\) Network effects **c) High variable costs (Correct)** d\) Multi-sidedness 5\. **What is consumer surplus?** a\) The profit made by platforms b\) The total cost paid by consumers **c) The difference between what a consumer is willing to pay and what they actually pay (Correct)** d\) The revenue from supply-side users 6\. **What is a positive aspect of market power?** **a) It drives efficiency in production processes (Correct)** b\) It discourages competition c\) It eliminates consumer surplus d\) It ensures monopolistic dominance 7\. **Which remedy aims to split a platform's operations into competing entities?** a\) Vertical break-up **b) Horizontal break-up (Correct)** c\) Ex-post regulation d\) Multihoming 8\. **What is the focus of ex-ante regulatory frameworks?** a\) Penalizing past anti-competitive behavior **b) Establishing rules to promote contestability (Correct)** c\) Preventing price manipulation d\) Subsidizing platform development 9\. **What is a network effect in platforms?** a\) Reduced cost per user **b) Increased platform value with more users (Correct)** c\) Rising production costs d\) Decreased competition among users 10\. **What is the main challenge of breaking up data-driven monopolies?** **a) Loss of economies of scale (Correct)** b\) Increased variable costs c\) Reduced market power d\) More stringent data-sharing rules 11\. **What is digitalization?** **a) Using digital technologies to transform business models (Correct)** b\) Collecting and storing data c\) Replacing physical assets with digital ones d\) Automating all business tasks 12\. **Which of the following is a technology enabler for digitalization?** a\) Organizational agility b\) Risk aversion **c) Data management and analytics (Correct)** d\) Siloed work mindset 13\. **Which is a cultural barrier to digitalization?** a\) Limited financial capability **b) Lack of sense of urgency (Correct)** c\) Inappropriate organization structure d\) Security issues 14\. **What is an example of an IoT element?** a\) Shared digital culture b\) Innovative business models **c) Data management and analysis (Correct)** d\) Dynamic capabilities 15\. **What role does a global IoT architecture play?** **a) Integrates IoT systems across organizational facets (Correct)** b\) Ensures adequate power supply to devices c\) Prevents cultural barriers to IoT adoption d\) Focuses solely on device connectivity 16\. **Which is NOT an organizational barrier to IoT implementation?** a\) Standardization issues b\) Security risks **c) Perception of complexity (Correct)** d\) Privacy concerns 17\. **What is a strategic enabler for IoT implementation?** a\) Autonomy b\) Cost reduction **c) Recognizing IoT as a key component of strategy (Correct)** d\) Siloed work processes 18\. **Why is resistance to change a significant barrier to digitalization?** a\) It reduces financial capacity **b) It slows down alignment with digital initiatives (Correct)** c\) It eliminates strategic enablers d\) It fosters organizational agility 19\. **Which of the following fosters a digital culture in organizations?** a\) Silo work mindset **b) Talent with digital skills (Correct)** c\) Lack of collaboration d\) Limited data-handling capacity 20\. **What is a perception-related barrier to IoT implementation?** a\) Security risks b\) Standardization issues **c) Lack of trust in IoT technology (Correct)** d\) Privacy restrictions 21\. **What was the goal of the Predix platform?** a\) To replace hardware with software entirely b\) To outsource all IT operations **c) To standardize data for industrial activities (Correct)** d\) To reduce GE's financial liabilities 22\. **What was a key internal challenge for Predix adoption?** **a) Resistance from legacy IT systems (Correct)** b\) Lack of customer enthusiasm c\) Insufficient global IoT architecture d\) High variable costs 23\. **What was a go-to-market strategy for Predix?** a\) Solely focusing on hardware sales b\) Offering bundled digital solutions **c) Outcomes-based deals (Correct)** d\) Reducing licensing costs 24\. **Why was customer trust an issue for GE's digital transformation?** **a) Customers were hesitant to share sensitive data (Correct)** b\) Customers lacked the required infrastructure c\) Customers perceived IoT as too complex d\) GE's products were less competitive 25\. **What role did the salesforce play in GE's digital strategy?** a\) Selling bundled hardware only b\) Transitioning from hardware to software sales **c) Designing revenue-sharing contracts (Correct)** d\) Implementing technical upgrades 26\. **Which external factor contributed to GE's challenges?** **a) Customer infrastructure readiness (Correct)** b\) High trust levels among clients c\) Standardized legacy systems d\) Well-integrated financial metrics 27\. **What broader issue impacted GE during its transformation?** a\) Lack of employee training b\) Over-investment in IoT **c) Financial mismanagement and acquisition problems (Correct)** d\) Insufficient connectivity in IoT systems 28\. **What is an outcome-based deal?** a\) Licensing Predix for a fixed price b\) Reducing customer dependence on hardware **c) Sharing revenue and implementation risks with customers (Correct)** d\) Eliminating customer data requirements 29\. **What does GE's digital transformation case emphasize?** **a) The importance of aligning strategy, technology, and culture (Correct)** b\) Avoiding external customer data sharing c\) Outsourcing all IT operations d\) Increasing reliance on legacy systems 30\. **What led to skepticism about GE's Predix platform?** a\) Over-simplification of IoT solutions **b) Integration issues and software glitches (Correct)** c\) Strong customer enthusiasm d\) High hardware dependency