Table of Contents
- Week 01: Introduction to Digital Transformation Part 1 Quiz Answers
- Introduction to Digital Transformation Part 1 Week 02 Quiz Answers
- Introduction to Digital Transformation Part 1 Week 03 Quiz Answers
Quiz 01: The Digital Revolution
Q1. Which technologies are enabling data generation and capture?
- Internet of Things (IoT)
- Cloud Computing
- Platforms
- All of the above
Q2. Data and analytics are central to driving which of the following?
- Autonomy
- Artificial Intelligence
- Additive Manufacturing
- All of the above
Q3. Which of the following describes the exponential increase in processing power over the past fifty years?
- Moore’s Law
- Smith’s Law
- Kryder’s Law
- Johnson’s Corollary
Q4. Which of the following is typically true about competing on technology?
- Impacts are diffuse and complex
- Competitors can rarely copy your strategy
- Benefits are often immediate and obvious
- Technology spending causes a ten-fold increase in productivity
Q5. Which of the following statements is true about perfectly competitive markets?
- Firms tend to gain competitive advantage through technology.
- Consumers are charged higher prices.
- No firm realizes accounting profits.
- No firm realizes economic profits.
Q6. Which three areas must intersect in order for a valuable competitive position to emerge?
- Opportunities, Capabilities, and Artificial Intelligence
- Data Analytics, Capabilities, and Values
- Opportunities, Capabilities, and Values
- Threats, Weaknesses, and Virtue
Q8. Which of the following is NOT a phase of digitization?
- Aggregation
- Representation
- Connectivity
- Convocatio
Q8. When digital transformation creates a virtual cycle, what is the role of more data?
- Improves algorithms, lowers transaction costs, and increases transactions.
- Lowers production costs, increasing consumer prices and raising profits.
- Improves algorithms, driving lean outcomes and increasing demand.
- Improves algorithms, decreasing competition and increasing transactions.
Q9. How is digital transformation deconstructing the value chain?
- By eliminating the need for core suppliers.
- By reducing the flow of goods across global regions.
- By increasing data flows which open up opportunities for innovation.
- By encouraging vertical integration.
Quiz 01: The Economics of Digital Disruption
Q1. A company has created a way to digitally scan concert ticket barcodes more efficiently and accurately than reviewing paper tickets. Which type of marketplace disruption is most likely to occur?
- Architectural disruption
- Value chain disruption
- Technological disruption
- New market disruptio
Q2. A retail store has expanded its loyalty rewards program to better understand the best discounts, sales, and products to offer its customers so that they’ll make more purchases. How might you best describe the impact digital transformation has had in this scenario?
- The company is formalizing a more structured testing cycle.
- The company is trying to avoid competition with value chain competitors.
- The company is leveraging data to create a better shopping experience for customers.
- The company is trying to educate their customers about the cost advantages of its products.
Q3. Which of these companies has the most competitive advantage in digital economies?
- A company has leveraged its platform technology and network externalities to become the best at creating value for its customers through its exemplary customer service.
- A company has the largest production in the industry, ensuring that its production costs will be lower.
- A retail company has monopolized its industry through resource scarcity by acquiring advantageous retail locations.
- A company has been providing a service for so long that it no longer has learning curves to overcome.
Q5. Your company is the incumbent in your industry and was able to survive a disruption to maintain its place as one of the three dominant market players. While growth has declined, your sales are still stable. How would you best describe your company’s current life cycle phase?
- Growth phase
- Emergent phase
- Mature phase
- Shakeout
Q5. Despite increasing reports of the dangers of athletes who receive repeated concussions, protective headgear for athletes has featured the same basic design for many years. What could be next for this industry?
- A dominant design of protective headgear is likely to form.
- Due to over competition, firms will go out of business or go through mergers and acquisitions.
- Protective headgear technology is ready for a disruption. Feedback: You’re right. Technological advances for protective headgear could emerge and cause an industry disruption. With this new technology, the competitive life cycle would begin again.
- Sales and growth are likely to be increasing.
Q6. Which of the following would you classify as a demand pull? “
- Small entrepreneurial firms are experimenting with new innovations in gaming systems.
- Gaming innovations are focused on process, delivery, and service.
- Noticing large demand for vintage game consoles, a video game company has released a handheld player that features its original, 1980s-era video games.
- An incumbent video game company plans to sell all of its gaming systems with virtual reality headsets by 2020.
Q7. How would you best describe firms that are likely to experience success during the era of ferment? “
- Small entrepreneurial firms
- Firms with a low cost structure
- Large, efficient firms
- Older firms that need time to adjust
Q8. You are reviewing a case study of an industry’s firms. Which of the following describes an industry incumbent that is most likely to fail to survive a disruption?
- Executives of one company don’t think they should make such a dramatic shift from the products that have been so successful for them in the past.
- One company is in a niche market, where customers are averse to risk and prefer established name brands.
- One company can use their extensive capital to pivot into developing a new technology that has been introduced by a competitor.
- One company has been able to reinvent themselves several times in the face of upheavals in market conditions
Q9. Which of the following would be most likely to strengthen a company’s intellectual property protection? “
- Diffusion of the product among customers is slow.
- The product you’ve created is innovative, likely to be very popular with customers, and easily replicated.
- A very small entrepreneur has a patent and is now defending it in court against several large corporations.
- The product you’ve innovated and the customer service you’ve implemented to support it create steep learning curves for any competitor to be able to be able to create the same value for customers.
Q10. When analyzing the competitive life cycle, what is the most important question companies should ask themselves during a market shakeout
- Is the market slowly evolving or hyper-dynamic?
- Is this market winner-take-all, duopoly, or contested?
- Do I have a first mover advantage?
- Is the severity of changes likely to be radical or incremental?
Quiz 01: The Path to Digitization
Q1. What do you need to balance when driving growth?
- Ambidexterity and agility
- Supply and demand
- Exploitation and exploration
- Disruption and acquiescence
Q2. Your company is looking to grow and wants to know how to allocate its resources. What you would recommend?
- Allocating resources to scale up an existing product offering, to grow in an area that has already shown itself to be profitable
- Resource switching, so the company can allocate resources dynamically to new and existing products
- A portfolio approach, to focus on existing processes as first priority
- Allocating all resources to exploration, to direct the company towards a new area of profitability
Q3. Popular belief holds that the rise of digital will replace the need for human experts, but this is not the case. How will the rise of digital instead elevate and provide leverage for human experts?
- D: The rise of digital provides human experts with technological tools that make judgment calls for them.
- B: Digital allows for more autonomous processes, which can help human experts to be more specialized in their field of expertise.
- C: Since digital provides more reliable information, human experts find it easier to make tough decisions or predictions.
- Through improved prediction capabilities, the human expert’s role is supported and allows for improved judgment.
Q4. What are the layers that form the Digital Transformation Stack?
- Data Science, Artificial intelligence, Internet of Things, Blockchain, and Crowds
- Infrastructure, Technology, Functions, and Strategy
- Improving judgment, creating value, leveraging ecosystems, building agility, and driving growth
- Digital Marketing, Cloud Computing, Data Integrity and People Analytics.
Q5. Improving judgment is fostered by generating better business predictions. Which of the following is an example of a business prediction?
- 3D printing
- Using a conveyor belt in a production facility
- Amazon suggesting the next product you are likely to purchase
- Automation of a report
Q6. What are the ways an organization can create customer value?
- Developing financial acumen
- Improving customer experience
- Improving the pay equity of their employees
- Improving operational excellenc
Q7. What is a cross-side network effect?
- Growth in one side of the network increases value for all the participants in the same side of the network.
- Growth in one side of the network increases value for competitors.
- Growth in one side of the network attracts more competitors.
- Growth in one side of the network increases value for the other side of the network.
Q8. What is Starbucks’ goal within its digital transformation?
- Starbucks wants to identify technologies that enable them to better pursue their mission of providing excellent customer service.
- Starbucks wants to collaborate with many other recognizable companies to create innovative technologies to increase value for the customer.
- Starbucks wants to impress customers by having all the latest technologies, showing that it is a true modern company.
- Starbucks wants to get data from its customers to develop the best new products and great recommendations for its customers.
Q9. What aspect of Starbucks’ digital transformation are you utilizing when you track your coffee back to the coffee beans it came from?
- C: Strategy — specifically Starbucks’ loyalty app
- Strategy — specifically Starbucks’ social media pages
- Technology — specifically AI, that can identify your coffee with a simple picture
- Technology — specifically Blockchain, that allows the secure tracking of transaction
Q10. With the rise of digitization, Starbucks collects a huge amount of data and analyzes it. How does Starbucks’ infrastructure help the company organize this data? Question type: multiple choice (radio)
- Starbucks utilizes the cloud to maintain data integrity across many nations and apps.
- Starbucks uses blockchain within its loyalty app to store all customer data.
- Starbucks uses AI to automatically organize its data across all platforms.
- Starbucks works with hackers to ensure its data security is adequate and well encrypted.
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