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Some examples from this set of practice questions
1.
What is the business model canvas?
Answer: Visual chart with elements describing a firm\'s or product\'s value proposition infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs.
2.
What is the balanced scorecard?
Answer: It is a way to implement the strategy by creating alignment and focus. This system allows the inclusion of financial and non-financial measurements, through four perspectives: financial, customer, internal business processes and learning and growth.
3.
Why was the balanced scorecard created?
Answer: Because of the drawbacks of using only financial data which: -Are lagging indicators (only tell what happened) -Are the product of allocations not related to underlying processes -Are short term focused -Are usually reported by organizational structures
4.
What is the difference between outcome measures and performance drivers?
Answer: -Core outcome measures. They are generic and reflect the common goals of many strategies -Drivers of performance. They tend to be unique for a particular BU because of its unique market segments, value propositions etc.
5.
What is the process leading to business model innovation?
Answer: 1.Representation of the choices of the startup’s business model 2.Selection of performance indicators. 3.Current measurement of selected performance indicators 4.Creation of goals for the selected performance indicators 5.Estabilishment of initiatives to reach the targeted goals Iterative process 6.Measurements of initiatives\' result
6.
What are Strategy Maps?
Answer: Delineate the process of value creation through a series of cause-effect relationships among the key organizational objectives for all 4 BSC perspectives. Each objective appearing in the map has an associated measure, target and initiative.
7.
What is a database?
Answer: Large collection of data that has to be exchanged/shared, searched, corrected etc. and that under no circumstances may get lost or corrupted in any way.
8.
What is a DBMS?
Answer: A software that manages databases.
9.
What is a \"relation\"?
Answer: A table
10.
What is a record?
Answer: A row in the table. Also called tuple
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