Article: ToManage a Platform,Think of It as aMicromarket
Please craft a question that is derived from the overall idea of thearticle
● This assignment requires you to submit a singleMCQwith 5 possible answers.
● MCQ should be novel, useful, non-obvious + high-impact + application +evergreen + you featured themost important topic of theweek’s reading
● Attach source (the name of the article) + page #● Put an Asterix (*) next to the correct answer● Avoid single-worded and contestable possible answers
● Examples of strongMCQ:
● Mimic the idea of one of those strongMCQs!
Wisdom of Crowds:Which of the following does NOT characterize wise crowds?
*a) Intelligence: A crowdmade of particularly smart individuals.
b) Diversity: Each person has private information and opinions.
c) Independence: People’s opinions aren’t determined by the opinions of those
around them.
d) Decentralization: People are able to specialize and draw on local knowledge.
e) Aggregation: Amechanism exists for turning private judgments into a collective
decision.
Source:Wisdom of Crowds; Chapter #; Page #…
Finding Your Next Core:Which question is LEAST helpful for determining the need to
redefine your core business?
a)What is the state of our core customers?
b)What is the state of our core differentiation?
c)What is the state of our industry’s profit pools?
d)What is the state of our core capabilities?
*e)What is that state of our financial statements?
Source: Finding your next core; Page #…
Free:Which is NOT a principle taught by the Business of Free?
a) Just because products are free to you, doesn’t mean that no one is makingmoney.
b) Economics theory is based on the principles of scarcity; rarity is associated with high
value.
c) The Business of FREE follow the principle of abundance; munificent can yield high value.
*d) Free products and services are due to the radical changes in generation demand.
e) From the consumer’s perspective, the difference between cheap and free is huge.
Source: XYZ article; Page #…
Future ofManagement: Which is NOT aManagement Innovation rule?
a) Commit to revolutionary goals, but take evolutionary steps.
*b) Experiencedmanagers make the best management innovators.
c) Diffuse objections and uncertainty through fun and revelatory experiments.
d) To solve a systematic problem, you need to understand its systematic roots.
e) Be clear about the performancemetrics your innovation is designed to improve.
Source: Future ofManagement; Chapter X; Page #…
Google Strategy &Multisided Platforms (MSPs):Which is NOT true aboutMSPs?
*a)MSPs can use two broad do-it-yourself approaches.
b)MSPs help insert themselves between you and your customers.
c) MSPs don’t own the goods and services whose sale they facilitate.
d)MSPs support players who are interdependent, which creates indirect network effects.
e) MSPs canmake a companymore efficient and/or increase its customer reach.
Source:What’s Your Google Strategy; Page #…
Innovator’s Dilemma:Which principle of Disruptive Innovation is INCORRECT?
a) Companies depend on customers and investors for resources
b) Small markets don’t solve the growth needs of large companies
c)Markets that don’t exist can’t be analyzed
*d) Being first tomarket makes all the difference
e) The supply of innovation (e.g., technology) may surpass market demand
Source: Innovator’s Dilemma; Chapter #; Page #…
Big Bang Disruption (BBD):Which is NOT a viable strategy to fight and survive a BBD?
a) Spot early warning signs: seek out a “truth seeker” who can filter out the noise of
unencumbered development
b) Slow disruptors: Use customer lock-in and lower prices to prevent the disruptor from
makingmoney until you are ready to outmaneuver the disruptor
c) Prepare for a quick exit: Shed valuable assets before they becomeworthless due to the
BBD
d) Diversify: Having a diverse set of businesses can hedge risk and volatile due to BBD
*e) Target a small group first: Focus on early adopters to popularize the idea and then hit
themainstreammarket
Source: Big Bang Disruption; Page #…
Lecture:Unpacking the BusinessModel:Which combination does NOT belong?
a) Core Strategy: Business mission, product market scope, and basis for differentiation
b) Strategic Resources: Core competencies, strategic assets, and a core process
c) Customer Interface: Fulfillment and support, info. and insight, relationship dynamics,
and pricing structure
*d) Configuration: Accounting, human resources, and supply chain
e) Value Networks: Suppliers, partners, and coalitions
Source: Lecture (date); ppt file (name); slide #…
What is Effectuation:Which is NOT a basic tactic of the effectuation theory?
a) Imagine possible goals that stem from current means.
b) Focus on opportunities that limit downside risk.
*c) Create scenarios to eliminate the element of surprise.
d) Form partnerships with others interested in the samemarket.
e) Control future activities to result in favorable outcomes.
Source:What is Effectuation; page #…
● Example of BadMCQs:In 1999, Bell Labs scientists were able to transmit ________ bits of information in one
second, across a single fiber-optic line.
a) 1,600,000,000
b) 16,000,000,000
c) 160,000,000,000
*d) 1,600,000,000,000
e) 16,000,000,000,000
The following activities contribute to business success, EXCEPT?
a) Creating amarketing strategy
b) Stayingmotivated with a business plan
c) Protecting your idea AND yourself
*d) Realize that focus groups DONOT prove your idea
e) Gaining personal focus
(MCQ is too contestable; one can argue that most, if not all answers are relevant to
success).
According to the bookMarket Busters, there are 7 key areas that need to be addressed to
accelerate cash-flow velocity. Choose the area below that is NOTmentioned in the book:
a) Optimize the sales cycle by allowing for seasonality adjustments
b) Leverage bank credit policies by having a line of credit for negative cash flow periods
c) Optimize collection policies by taking advantage of trade credit policies and supplier
discounts
d)Manage assets more efficiently by looking into the pros and cons of leasing versus
buying
*e) Use the tax laws to write more expenses, whether related or not to the business, and
by reporting only credit sales on tax forms
(MCQ is too long; doesn’t feature themost important lesson from the book; andwhat was
“not” noted in the book is often not a good focus).
Which is NOT a step in the external environment analysis process?
a) Scanning
b)Monitoring
* c) Planning
d) Forecasting
e) Assessing
(ThisMCQ is mechanically correct, but conceptually, intellectually, practically it is not at
all impactful. Environmental analysis is important, but it is NOT THEMOST high-impact
topic.
Finally, one-word answers are usually not enough; they don’t give sufficient context).
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