CIS 4190 Exam With Questions And Correct Answers
Service Thinking - Answer You don't get paid for what you do, you get paid for the value you create PTBS - Answer The elementary/core reason the service is valuable to the consumer of the service. not an obvious or surface-level reason ERP - Answer Enterprise Resource Planning How to judge PTBS - Answer 1) How completely is a problem solved with your service?2) How well is it solved?Outside-In perspective constantly asks - Answer 1) What do customers need?2) How and why are customers changing?3) What can we do to better solve their problems & meet their emerging needs
- questions of service thinking - Answer 1) What is the PTBS?
- A business must capture part of the value it creates
2) What is the service interface?3) What are proper measures of service quality?Service Interface - Answer Customers interact with a service through a service interface (ie. email, phone, customer service, etc.) Proper Measures of service quality - Answer 1) Service Effectiveness 2) Service Productivity Service Effectiveness - Answer Evaluated by the customer - value metric Service Productivity - Answer Evaluated by the service provider - process metric Traditional Goods-Dominated Logic - Answer Separation between producer & consumer Maximizes production control, efficiency, and profit maximization What is a business model? - Answer A business model describes the rationale of how an organization creates, delivers, and captures value
Where to capture value as revenue - Answer Between willingness to pay and willingness to sell 1 / 2
Why do businesses exist? - Answer Business exist to generate profits
- otherwise it is a charity or government
What 4 sections make up a BMC - Answer 1) Create Value 2) Value Propositions 3) Deliver Value 4) Captures Value What sections deliver value in a BMC? - Answer 1) Customer segments 2) Channels 3) Customer relationships What section create value in a BMC? - Answer 1) Key Partners 2) Key activities 3) Key resources What sections capture value in a BMC? - Answer 1) Cost Structure 2) Revenue Streams What is a value proposition? - Answer Value propositions are underlying values that a product or service creates for customers Clay Christensen's types of customer innovation: Sustaining Strategy - Answer Bring improved service into an established market
Clay Christensen's types of customer innovation: Low-end Disruption - Answer Address overserved customers with a lower-cost service or business model
Clay Christensen's types of customer innovation: New-Market Disruption - Answer compete against non-consumption by solving more of customer problems or differently characterized problems
Where is crossing the chasm? - Answer between early adopters and early majority (16%)
Goals before crossing the chasm - Answer Prove there is demand for your product (build a market)
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