BTE 210 Exam 3 Questions with Verified Solutions Latest Version () Already Passed

BTE 210 Exam 3 Questions with Verified Solutions Latest Version () Already Passed In 10 years over ______ of the Fortune 500 will no longer be here - Answers 40% 6 parts of business canvas - Answers 1. Customer segments 2. Value Proposition 3. Key resources 4. Key partners & Channels 5. Cost Structure and Revenue Stream 6. Customer relationships Key to a successful business canvas - Answers Be agile, evolve, fail fast Agile Development Chart - Answers MEMORIZE THE PICTURE Bitcoin: _______ to ______ payment inventor value - Answers person to person Satoshi Nakomato, Japan, 2009 (John Smith name) $650 Algorithm mines 25 per 10 min How a blockchain works - Answers A wants to send money to B Transaction is represented online as a block Block is broadcasted to every party in the network people in network approve the transaction Block can be added to chain, provides record or transactions money moves from A to B The Royal Canadian Mint uses their own bitcoin called ______ ________ - Answers MintChip Security Issues with MintChip - Answers Mintchip Minter could Mint more coins without authorization Trusted broker copies private keys and certs to double spend. No ways to detect Bitcoin does not have this problem! Look more into Amazon case - Answers Leadership for Startups - Answers Creative Builder (Starter) 51.7% People Mover (Talent Acquisition) 11.9% Experienced Guide (Helper) 10.4% Business Process definition - Answers an ongoing collection of related activities that create a product or service of value to the organization, its business partners, and / or its customers Business Process is comprised of three elements (Pirates) - Answers Inputs Resources Outputs Efficiency vs. Effectiveness - Answers Effectiveness measures output (# of MP3) Efficiency measures process (Speed of Making MP3) Business Process Reengineering (BPR) - Answers a radical redesign of an organization's business process to increase productivity and profitability Examines business processes with a "clean slate" approach Business Process Improvement (BPI) - Answers an INCREMENTAL approach to move an organization toward business process centered operations Focuses on REDUCING VARIATION in process outputs by identifying the underlying cause of the variation Six Sigma - Answers popular methodology for BPI (99.99966%) BPR vs BPI - Answers BPI: Low risk, Low cost Bottom-up approach takes less time quantifiable results all employees are trained BPR: High risk/High cost Top-down approach High failure rate takes long time Porter's competitive forces model: Things on the inside of the model - Answers Your organization <-------->Competing organizations Rivalry Porter's competitive forces model: Things on the outside of the model - Answers Threats of New Entrants Supplier Power (Bargaining power of suppliers)