Digital Transformation Quiz Answer. In this post you will get Quiz Answer Of Digital Transformation
Digital Transformation Quiz
Offered By ”University of Virginia”
Week 1 Quiz: Technology Laws of Business Disruption
Your company is undergoing a major review of its use of digital technology. How would Moore’s Law be most likely to impact your review?
- The processing power of computers doubles every year and a half.
- The amount of data communicated through a single optical fiber doubles every nine months.
- The amount of data stored per square centimeter of a hard drive will double every 13 months.
- The cost economies of technology benefit companies rather than consumers.
Imagine you work for a large and established incumbent in the banking industry. How might you most successfully compete in an increasingly stack-based industry?
- Maintain established industry dominance of the entire value chain.
- Look for ways to lower industry-wide increasing transactional costs.
- Consider dominating the bottom layer infrastructure, which depends on economies of scale.
- Form an oligopoly with other competitors.
Which of these best describe the experience of an established platform provider in a stack-based industry?
- Platform providers have almost no marginal costs.
- The cost and effort of adding customers and producers to the system remains at the same, predictable level throughout the development and lifetime of the system.
- Profits are typically higher for producers than platform providers.
- Network effects are very weak in this stack.
Your company’s board of directors is questioning your IT department’s increased budget while noting that the company has failed to see increased productivity. Which of these theoretical explanations is most likely to help the board understand this paradox?
- The process of training and reaching full productivity on new tools is easier in the digital age.
- Risk management has gotten more difficult with the addition of digital technology.
- The company’s increasing complexity could be having a negative and neutralizing impact on productivity.
- Studies show that digital laggards outperform digital leaders in customer loyalty but not in revenue growth.
Week 2 Quiz on Foundations of Digital Transformation
A company created a simple software tool that lets users identify and track project tasks. The free software has become very popular and widely used on agile software development teams. Which type of marketplace disruption is most likely occurring?
New market disruption
Business model innovation
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 trying to educate their customers about the cost advantages of its products.
The company is trying to avoid competition with value chain competitors.
The company is formalizing a more structured testing cycle.
The company is leveraging data to create a better shopping experience for customers.
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 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.
A company has the largest production in the industry, ensuring that its production costs will be lower.
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?
Your company is one of many software firms that has developed a new way to track data in online auctions. The industry has experienced explosive growth as a dominant design has emerged and auction companies are racing to implement new software solutions. What is most likely to happen to these software firms next?
The technology is ready for a disruption.
The pattern of sales and revenues will likely be at its lowest.
Due to over competition, firms will go out of business or go through mergers and acquisitions.
A dominant design of the technology is likely to form.
Which of the following would you classify as a technology push?
Small entrepreneurial firms are experimenting with new innovations in gaming systems.
Gaming innovations are focused on process, delivery, and service.
An incumbent video game company plans to sell all of its gaming systems with virtual reality headsets by 2020.
Noticing large demand for vintage game consoles, a video game company has released a handheld player that features its original, 1980s-era video games.
How would you best describe firms that are likely to experience success during the era of ferment?
Large, efficient firms
Small entrepreneurial firms
Older firms that need time to adjust
Firms with a low cost structure
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?
One company has been able to reinvent themselves several times in the face of upheavals in market conditions.
One company can use their extensive capital to pivot into developing a new technology that has been introduced by a competitor.
One company is in a niche market, where customers are averse to risk and prefer established name brands.
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.
Which of the following would be most likely to strengthen a company’s ability to compete in a digital transformation?
The product 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.
A company has many tightly held complementary assets in manufacturing and needs to develop its marketing assets in order to be competitive with the new product.
A company has tightly held complementary assets in distribution channels and in its ability to use a related technology to create a new product.
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?
Do I have a first mover advantage?
Is the severity of changes likely to be radical or incremental?
Is this market winner-take-all, duopoly, or contested?
Week 3 Quiz: High-profile Digital Technologies
A jewelry company tracks which items are liked by a customer on their website and social media accounts. It then knows to produce more of the most popular items and alters the customer’s feed to display similar items first. How would you best describe the potential value creation and impact on the jewelry company’s business by using data in this way?
The company is performing predictive maintenance.
The company is offering customized solutions.
The company is personalizing its offerings.
The company is preventing fraud.
Your team is reviewing options for using the data your company has collected on customer behaviors and preferences. Which of the following would be LEAST likely to risk a breach of trust with customers?
Assume customer permission to use their data.
Use data you’ve collected all along in new ways without letting customers know.
Identify ways your company will use data conservatively and legally.
Change how you’re using customer data without notification.
You’ve been asked to review a cloud services plan for a large retailer. Which of the following items poses the greatest concern about the retailer’s consideration of a migration to cloud services?
The retailer wants to have a disaster recovery mechanism for data.
The retailer has limited financial resources for their initial investment in cloud services but could increase their expenditures later.
When comparing current and migration costs, the company didn’t include maintenance in the total cost of ownership expenses.
The retailer may expand.
Your team is responsible for determining a use case scenario for the internet of things. Which of these elements would be of greatest concern as you prepare to select a platform provider?
A platform’s APIs are unique, highly customized and distinct from other APIs.
A platform uses open source application development.
The platform’s architecture is modular.
The platform uses a technology that is compatible with the company’s current system.
Which of the following companies would most likely benefit from additive manufacturing?
A company that has high-volume production
A company that manufactures a large volume of items that are not personalized in any way.
A company that does not need to create a prototype
A company is creating an innovative new product that has never been built before
You are part of the senior management team and have just received the dreaded phone call that your company has been the victim of a cyber attack. Looking back, how did your company most likely fail to protect itself?
Your IT department invested heavily in technological solutions they hoped would prevent attacks.
Your company’s spending to prevent a cyber attack has doubled in the past year, which is consistent with the increase of attacks in your industry.
Your onboarding for new employees does not include an overview of risky behaviors that may lead to attacks.
Your company engaged with other organizations in the same ecosystem in an attempt to address cyber risks.
Your company is interested in investing in Artificial Intelligence. How can you best establish a competitive edge in your industry?
Wait for new developments in Narrow AI before investing in AI.
Focus on learning algorithms rather than the availability of quality data.
Enhance your proprietary training data.
Invest most heavily in your computing infrastructure.
Given current blockchain technology and protocols, in which of the following scenarios is blockchain most likely to have a significant impact?
An industry with secure records that are easily accessible to the public
A platform-based business
A company that conducts over a thousand transactions per second
A company in an industry subject to significant government regulations
Which of these companies could most likely use blockchain to solve a problem or add value in an identity use case?
A Dubai-based company needs to be able to help its customers reach an agreement to purchase shares in an airplane membership service.
A group of homeowners on a popular vacation island want to be able to rent their properties to consumers without paying fees to a rental agency or website.
A company wants to recognize and help its customers safeguard their personal information when making online purchases.
A group of farmers in a community supported agriculture network want to share source information and updates on when items will be harvested and where they will be available for purchase.
How might companies best analyze and select trends that are relevant to their business?
As digital trends emerge, companies should focus on maintaining, rather than growing, core capabilities.
Companies should focus efforts to be on the defense against potential threats via new trends.
Follow trends in related industries to see if they may have an impact.
If a company is an incumbent, it should be certain to focus on its own infrastructure rather than seeking new growth.
Week 4 Quiz: Your Path to Digital Transformation
Imagine your company has created an energy saving and cost efficient solution for the storage and distribution of electric power that will make current methods obsolete. Which strategy approach would be most appropriate for your firm?
Your company is developing new digital products. Which approach should they use?
Focus on discrete steps in the customer journey
A product-focused methodology
A linear, waterfall process
Your company wants to increase profits and has focused on improving the customer experience and has seen a slight improvement in profits. What should they do?
Maintain focus on the customer journey–profits will go up eventually
Continue to focus on the customer journey while improving operational efficiency
Scale back the company’s digital efforts
Switch focus to improving operational efficiency
You learn that your company’s chief competitor is digitizing a new capability. How should your firm respond?
Draw on the company’s ecosystem to purchase an expensive new technology with similar capabilities.
Digitize the same capability if it is aligned with a business purpose.
Create a new team focused on digitizing all the business processes.
Develop a new, competitive capability.
Your company launched a very successful product a few years ago, one that consistently yields significant profits. Your CEO now wants to shift the balance of company resources to new product innovation. What could you say to convince him to dedicate significant resources to also maintaining and improving the existing product?
We need to avoid the perpetual search trap.
Our adoption curve has flattened.
Nobody else has a product like ours.
New product development is too risky and unlikely to lead to value.
How can companies who lack internal resources balance exploration and exploitation?
Orchestrate separate units to serve exploration and exploitation needs
Source ideas externally through the ecosystem approach
Split out your existing team into legacy and growth hacking teams
Switch focus from exploitation to exploration
What are the key advantages of agile@scale?
It provides a linear process of analysis, design, and execution.
It produces hierarchical structural changes.
It helps align interdisciplinary teams toward a common goal and gives them full responsibility to deliver products.
It incorporates traditional approaches, such as hybrid and excubator models.
Your company’s IT team has been working for three years to develop an interface to align product development with customer data. Despite a big investment of resources, they are no closer to a solution. What would you recommend your company focus on instead?
Your company has a functional two-speed IT architecture. What approach would you recommend long term?
Converge both execution speeds into a unified operating model
Invest in new technology platforms
Implement a waterfall approach
Continue with a two-speed approach
What is one way that companies can leverage their ecosystem?
To compete across all layers of the industry.
To solve capacity constraints
To focus on sharing goods
To decouple different layers of the value chain.