ISOM 351 Midterm
Cynefin Framework - Answer-Simple: Sense Categorize Respond->Best Practice
Complicated: Sense Analyze Respond->Good Practice
Complex: probe-sense respond->Emergent Practice
Chaotic: Act sense respond ->Novel Practice
What is on the Right hand side of the business model canvas and what does it describe - Answer-Talking
about business' customers (what you study in marketing)
1. Value Propositions
2. Customer Relationships
3. Channels
4. Segments
Define Value Proposition - Answer-Benefits customer gets for buying product/service
What problem your customer is trying to solve
Customer Relationships examples - Answer-Transactional, long-term relationship, personal assistance,
self service and automated services
Define Channels and two typed - Answer-How a business gets access to customers
Direct = personal selling, internet
Indirect= Retail, agents and brokers
Define Segments - Answer-Groups of customer hope to attract
,DIY, Pro users, DIFM
The bottom of the BMC - Answer-About finance and accounting. Economic logic of the firm
Cost Structure
Revenue Streams
All decisions made on the L.H.S and R.H.S impact what part of the BMC - Answer-Cost structure and
revenue streams
Bottom
Left Hand Side - Answer-How the business delivers its value proposition
How firm delivers value
1. Key Partners
2. Key Resources
3. Key Activities
4. Value Proposition
Where is Value proposition included and why? - Answer-L.H.S and R.H.S of BMC
Value prop sold to customers drives how the organization makes resource allocation decisions /activities
it takes and partners it needs
How does an organization really deliver value is answered by what side of the BMC? - Answer-L.H.S
What side of the BMC is the Operating model located on - Answer-L.H.S
What is the operating model - Answer-Provides detailed information about suppliers and other partners
, -Where the org has a physical presence
-specific process that used to deliver value
-org issues
-information need to deliver value
What are the three operating model archetypes - Answer-1. Process Oriented
2. Technology Oriented
3. Data analytics oriented
What idea is invoked by process oriented models - Answer-What activities does this company do?
What do they do?
Example of process oriented company - Answer-Home Depot -> Sell Stuff
Coke-> Make Beverages and sells them
Technology oriented models - Answer-Operating model couldn't exist without technology
Entire approach is digitally enabled
Uber, Amazon alibaba what kind of operating model - Answer-Technology oriented
Data Oriented operating model - Answer-Money comes from data
Facebook
Every organization is strictly one operating model t or f provide a counter example if false - Answer-
False: Amazon --> Process oriented through distribution centers, Technology Oriented through scanners
to record incoming packages, Data --> Inbound inventory
Cynefin Framework - Answer-Simple: Sense Categorize Respond->Best Practice
Complicated: Sense Analyze Respond->Good Practice
Complex: probe-sense respond->Emergent Practice
Chaotic: Act sense respond ->Novel Practice
What is on the Right hand side of the business model canvas and what does it describe - Answer-Talking
about business' customers (what you study in marketing)
1. Value Propositions
2. Customer Relationships
3. Channels
4. Segments
Define Value Proposition - Answer-Benefits customer gets for buying product/service
What problem your customer is trying to solve
Customer Relationships examples - Answer-Transactional, long-term relationship, personal assistance,
self service and automated services
Define Channels and two typed - Answer-How a business gets access to customers
Direct = personal selling, internet
Indirect= Retail, agents and brokers
Define Segments - Answer-Groups of customer hope to attract
,DIY, Pro users, DIFM
The bottom of the BMC - Answer-About finance and accounting. Economic logic of the firm
Cost Structure
Revenue Streams
All decisions made on the L.H.S and R.H.S impact what part of the BMC - Answer-Cost structure and
revenue streams
Bottom
Left Hand Side - Answer-How the business delivers its value proposition
How firm delivers value
1. Key Partners
2. Key Resources
3. Key Activities
4. Value Proposition
Where is Value proposition included and why? - Answer-L.H.S and R.H.S of BMC
Value prop sold to customers drives how the organization makes resource allocation decisions /activities
it takes and partners it needs
How does an organization really deliver value is answered by what side of the BMC? - Answer-L.H.S
What side of the BMC is the Operating model located on - Answer-L.H.S
What is the operating model - Answer-Provides detailed information about suppliers and other partners
, -Where the org has a physical presence
-specific process that used to deliver value
-org issues
-information need to deliver value
What are the three operating model archetypes - Answer-1. Process Oriented
2. Technology Oriented
3. Data analytics oriented
What idea is invoked by process oriented models - Answer-What activities does this company do?
What do they do?
Example of process oriented company - Answer-Home Depot -> Sell Stuff
Coke-> Make Beverages and sells them
Technology oriented models - Answer-Operating model couldn't exist without technology
Entire approach is digitally enabled
Uber, Amazon alibaba what kind of operating model - Answer-Technology oriented
Data Oriented operating model - Answer-Money comes from data
Every organization is strictly one operating model t or f provide a counter example if false - Answer-
False: Amazon --> Process oriented through distribution centers, Technology Oriented through scanners
to record incoming packages, Data --> Inbound inventory
