What are traditional financial institutions grappling with?

• Decline in stock prices

• Rising fintech companies

• Increased taxation

• Labor shortages

Answer explanation

Traditional financial institutions are grappling with rising fintech companies, which are disrupting the market with innovative solutions and challenging the traditional banking model.

What is the impact of tech giants on the retail sector?

• They reduce competition

• They pose a direct challenge

• They increase employment

• They lower prices

Answer explanation

Tech giants pose a direct challenge to the retail sector by leveraging their vast resources and technology to innovate and capture market share, often outpacing traditional retailers in efficiency and customer reach.

What is the main competitive strategy of traditional businesses against tech giants?

• Outpacing tech giants in digital innovation

• Mastering physical operations

• Creating their own unique path

• Competing on price

Answer explanation

The main competitive strategy of traditional businesses against tech giants is 'creating their own unique path.' This approach allows them to differentiate themselves rather than directly compete in areas where tech giants excel.

What is a misguided mindset for traditional businesses?

• Competing on price

• Trying to outpace tech giants

• Focusing on customer service

• Expanding globally

Answer explanation

The misguided mindset for traditional businesses is 'trying to outpace tech giants.' This approach often leads to unrealistic expectations and can distract from leveraging their own strengths.

What do you think about the future products in the diagram?

• They will be solely digital

• They will blend digital and traditional features.

• They will focus solely on traditional attributes without incorporating any digital elements.

• They will become outdated and no longer relevant.

Answer explanation

The diagram indicates that future products will integrate both digital and traditional features, suggesting a hybrid approach rather than being solely digital or traditional.

What is the role of traditional attributes in the value creation process according to the diagram?

• They are no longer relevant or significant in the current context.

• They are secondary to digital attributes

• They are just as important as digital attributes.

• They have become outdated and no longer align with modern standards or practices.

Answer explanation

Traditional attributes play a crucial role in value creation, being equally important as digital attributes. Both types contribute significantly to the overall process, ensuring a balanced approach to value generation.

What does the Business Disruptive Technology Module aim to teach?

• How to maintain traditional business models?

• How to become smart rivals in a tech-dominated world?

• How to avoid digital transformation?

• How to focus on local markets and customer satisfaction?

Answer explanation

The module aims to help students (and companies) become smart rivals in a tech-dominated world by adapting to technological changes and leveraging digital transformation, rather than maintaining traditional models or avoiding change.

What is the key to prosperity in the digital age?

• Maintaining traditional methods

• Embracing digital transformation

• Reducing digital presence

• Focusing on local markets

Answer explanation

Embracing digital transformation is essential for prosperity in the digital age, as it allows businesses to adapt and thrive in a rapidly changing environment.

What is required for traditional businesses to forge a new path?

• More funding

• The right direction and creativity

• A larger workforce

• Complete digitalization

Answer explanation

Traditional businesses need the right direction and creativity to innovate and adapt to changing markets. While funding and workforce are important, vision and creativity are essential for forging a new path.

What is the nature of the path that traditional businesses need to take?

• Well-charted

• Uncharted

• Predictable

• Risk-free

Answer explanation

Traditional businesses face an 'uncharted' path, indicating they must navigate new and uncertain challenges rather than following a well-defined or predictable route.