MCQ (3's only)

[John Ringenberg]

*=correct answer
MCQ 1:
1. Creative destruction can only truly be attained through:
a. Disruptive innovation causing an up-and-coming business to flourish
to ultimately overtake the larger firms because they have the newest
and most innovative item ever seen
* b. A natural evolution of business where there isn’t noticeable
governmental involvement and the innovative, in both strategy and
action, overcome the current leaders of the industry
c. Sustained innovation where a company is creating a Business Model
Innovation every 2 years to continually reinvent itself, not allowing
the industry to become “stale”
d. Driving the price lower and lower between competitors taking away
the profitability to the business but passing it on to their customers
e. Strategy convergence, the idea that in order to ultimately pass the
larger, more powerful existing companies, you first imitate them and
then ultimately pass them through innovation

MCQ 3:
Greenwald and Kahn discuss how ignoring cooperation and just focusing
on competition misses out on all these important realities except:
a. In some cases, legal varieties of face-to-face bargaining are
necessary and demand cooperation
* b. Cooperation can help corner a market for a set of companies
making it difficult for future companies to compete
c. Even in cases where strong competition and thus some irrationality
prevail, many participants probably can conceive of a better model
d. Some business interactions make the benefits of cooperation obvious
e. Cooperation showing how to both maximize joint rewards and how to
divide the gains fairly

MCQ 4:
In Business Model Generation by Osterwalder and Pigneur, they discuss
four types of key partnership in business. Which of the following
isn’t one of those partnerships listed?
a. Buyer-supplier relationships assuring reliable supplies and future
business
b. Strategic alliances between noncompetitors working to their mutual
benefit
c. Joint ventures to develop new businesses or renovate current ones
d. Coopetition, or strategic partnerships between competitors
* e. Natural partnerships arising from the average day-to-day activity

MCQ 5:
According to Reeves and Deimler in "Adaptability: The New Competitive
Advantage" which of the following strategies is not beneficial to
companies in order to adapt to a constantly changing market such as
media?
a. The ability to read and act on signals
b. The ability to experiment and take chances
c. The ability to manage complex multicompany systems
d. The ability to mobilize
* e. The ability to lead an industry once on top


MCQ 6:
All of these are high impact takeaways for innovation and business
models from Chris Christopher’s speech to the class on Friday, March
30th except:
a. current process/product/business models will eventually lose their
competitive edge
b. innovation is the life blood of the enterprise
c. set an innovation expectation for yourself
* d. sometimes following the leader is the best course of action
e. understand the whole value chain