Exam 10: The Sharing Economy, Collaborative Consumption, and Creating More Efficient Markets Through Technology

Describe how Uber is a "big data" firm and how data gives the firm advantages over traditional and new rivals.

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(Essay)

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Question 1

Correct Answer:

Verified

Data drives Uber's growth and success. The firm's team of data scientists constantly optimizes algorithms powering a whole host of activities: determining how many drivers the firm needs, including identifying when and how to alert drivers of projected demand, pointing a subset of drivers to locations to best meet demand, and setting dynamic pricing. The firm supplements its own rich and growing trove of data with traffic influencing feeds such as weather-forecasts, and staff in each city closely track special events that could impact expectations (conventions, parades, large university commencements, a packed stadium for the home team). Data even helps the firm expand into new cities. Each time a user opens an app, even if it's in a location Uber hasn't operated in before, data is collected showing user interest. Data and the algorithms that refine their accuracy are improved over time, so as an early player, Uber simply has more smarts than anyone else operating in this space.

Surge pricing allows Uber to increase the supply of drivers when demand is high.

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(True/False)

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Question 2

Correct Answer:

Verified

False

GM has invested half a billion dollars in Uber-competitor ______.

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(Short Answer)

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Question 3

Correct Answer:

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Lyft

What is the difference between collaborative consumption firms Zilok and Chegg.

(Multiple Choice)

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Question 4

Why were fashion firms initially threatened by Rent the Runway and why has their position evolved over time?

(Essay)

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Question 5

Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract substantial venture capital investment.

(True/False)

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Question 6

Uber prices services according to demand. This allows the company to increase rates during peak periods in order to attract more potential suppliers into the market to meet demand.

(True/False)

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Question 7

Given examples of firms in the sharing economy that focus on the following categories: goods, transportation, and capital provision. List markets challenged in each of these areas.

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Question 8

Payment continues to represent a barrier to widespread adoption of the sharing economy, since many consumers feel uncomfortable exchanging cash or financial information with strangers.

(True/False)

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Question 9

What are some concerns regulators have over the sharing economy using independent contractors and not full time employees?

(Essay)

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Question 10

Which of the following is not an example of larger, conventional firms working with sharing economy startups?

(Multiple Choice)

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Question 11

Which of the following statements is true about Airbnb's revenue model?

(Multiple Choice)

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Question 12

If eBay and Craigslist are included, some 44 percent of the US and Canadian population have participated in the sharing economy.

(True/False)

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Question 13

Highly _______ markets are especially ripe for rollup in electronic marketplaces

(Short Answer)

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Question 14

In what ways is Uber superior to conventional cab service, both for drivers and for customers?

(Essay)

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Question 15

Citizen suppliers in the sharing economy may find their _______ costs increase due to increased product use and an increase in perceived risk over time.

(Short Answer)

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Question 16

Entrepreneurs are scrappy in their quest to gather market intelligence and understand how customers respond to their offerings. How did Airbnb's CEO gather additional intelligence on how the firm was being used?

(Multiple Choice)

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Question 17

_______ mayor has voiced support for Uber, seeing it as a safe and popular service among citizens and city visitors.

(Essay)

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Question 18

How does Airbnb improve customer and renter trust while reducing risks that its platform will be used for illegal purposes?

(Essay)

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Question 19

Prof. Juliet Schor says that businesses considered to be part of the _________________ can involve the recirculation of goods, increased utilization of durable assets, exchange of services, or the sharing of productive assets

(Short Answer)

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Question 20

Showing 1 - 20 of 32

Describe how Uber is a "big data" firm and how data gives the firm advantages over traditional and new rivals.

Surge pricing allows Uber to increase the supply of drivers when demand is high.

GM has invested half a billion dollars in Uber-competitor ______.

What is the difference between collaborative consumption firms Zilok and Chegg.

Why were fashion firms initially threatened by Rent the Runway and why has their position evolved over time?

Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract substantial venture capital investment.

Uber prices services according to demand. This allows the company to increase rates during peak periods in order to attract more potential suppliers into the market to meet demand.

Given examples of firms in the sharing economy that focus on the following categories: goods, transportation, and capital provision. List markets challenged in each of these areas.

Payment continues to represent a barrier to widespread adoption of the sharing economy, since many consumers feel uncomfortable exchanging cash or financial information with strangers.

What are some concerns regulators have over the sharing economy using independent contractors and not full time employees?

Which of the following is not an example of larger, conventional firms working with sharing economy startups?

Which of the following statements is true about Airbnb's revenue model?

If eBay and Craigslist are included, some 44 percent of the US and Canadian population have participated in the sharing economy.

Highly _______ markets are especially ripe for rollup in electronic marketplaces

In what ways is Uber superior to conventional cab service, both for drivers and for customers?

Citizen suppliers in the sharing economy may find their _______ costs increase due to increased product use and an increase in perceived risk over time.

Entrepreneurs are scrappy in their quest to gather market intelligence and understand how customers respond to their offerings. How did Airbnb's CEO gather additional intelligence on how the firm was being used?

_______ mayor has voiced support for Uber, seeing it as a safe and popular service among citizens and city visitors.

How does Airbnb improve customer and renter trust while reducing risks that its platform will be used for illegal purposes?

Prof. Juliet Schor says that businesses considered to be part of the _________________ can involve the recirculation of goods, increased utilization of durable assets, exchange of services, or the sharing of productive assets

Setting the Stage: Technology and the Modern Enterprise

Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

Zara: Fast Fashion From Savvy Systems

Netflix in Two Acts: the Making of an E-Commerce Giant and the Uncertain Future of Atoms to Bits

Moores Law and More: Fast, Cheap Computing and What This Means for the Manager

Disruptive Technologies: Understanding the Giant Killers and Considerations for Avoiding Extinction

Amazoncom: an Empire Stretching From Cardboard Box to Kindle to Cloud

Understanding Network Effects: Strategies for Competing in a Platform-Centric, Winner-Take-All World

Social Media, Peer Production, and Web 2.0

Facebook: a Billion-Plus Users, the High-Stakes Move to Mobile, and Big Business From the Social Graph

Rent the Runway: Entrepreneurs Expanding an Industry by Blending Tech with Fashion

Understanding Software: a Primer for Managers

Software in Flux: Open Source, Cloud, Vittualized and App-Driven Shifts

The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage

A Managers Guide to the Internet and Telecommunications

Information Security: Barbarians at the Gateway and Just About Everywhere Else

Google in Three Parts: Search, Online Advertising, and an Alphabet of Opportunity

Filters

Exam 10: The Sharing Economy, Collaborative Consumption, and Creating More Efficient Markets Through Technology

Describe how Uber is a "big data" firm and how data gives the firm advantages over traditional and new rivals.

Surge pricing allows Uber to increase the supply of drivers when demand is high.

GM has invested half a billion dollars in Uber-competitor ______.

What is the difference between collaborative consumption firms Zilok and Chegg.

Why were fashion firms initially threatened by Rent the Runway and why has their position evolved over time?

Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract substantial venture capital investment.

Uber prices services according to demand. This allows the company to increase rates during peak periods in order to attract more potential suppliers into the market to meet demand.

Given examples of firms in the sharing economy that focus on the following categories: goods, transportation, and capital provision. List markets challenged in each of these areas.

Payment continues to represent a barrier to widespread adoption of the sharing economy, since many consumers feel uncomfortable exchanging cash or financial information with strangers.

What are some concerns regulators have over the sharing economy using independent contractors and not full time employees?

Which of the following is *not* an example of larger, conventional firms working with sharing economy startups?

Which of the following statements is true about Airbnb's revenue model?

If eBay and Craigslist are included, some 44 percent of the US and Canadian population have participated in the sharing economy.

Highly _______ markets are especially ripe for rollup in electronic marketplaces

In what ways is Uber superior to conventional cab service, both for drivers and for customers?

Citizen suppliers in the sharing economy may find their _______ costs increase due to increased product use and an increase in perceived risk over time.

Entrepreneurs are scrappy in their quest to gather market intelligence and understand how customers respond to their offerings. How did Airbnb's CEO gather additional intelligence on how the firm was being used?

_______ mayor has voiced support for Uber, seeing it as a safe and popular service among citizens and city visitors.

How does Airbnb improve customer and renter trust while reducing risks that its platform will be used for illegal purposes?

Prof. Juliet Schor says that businesses considered to be part of the _________________ can involve the recirculation of goods, increased utilization of durable assets, exchange of services, or the sharing of productive assets

Setting the Stage: Technology and the Modern Enterprise

Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

Zara: Fast Fashion From Savvy Systems

Netflix in Two Acts: the Making of an E-Commerce Giant and the Uncertain Future of Atoms to Bits

Moores Law and More: Fast, Cheap Computing and What This Means for the Manager

Disruptive Technologies: Understanding the Giant Killers and Considerations for Avoiding Extinction

Amazoncom: an Empire Stretching From Cardboard Box to Kindle to Cloud

Understanding Network Effects: Strategies for Competing in a Platform-Centric, Winner-Take-All World

Social Media, Peer Production, and Web 2.0

Facebook: a Billion-Plus Users, the High-Stakes Move to Mobile, and Big Business From the Social Graph

Rent the Runway: Entrepreneurs Expanding an Industry by Blending Tech with Fashion

Understanding Software: a Primer for Managers

Software in Flux: Open Source, Cloud, Vittualized and App-Driven Shifts

The Data Asset: Databases, Business Intelligence, Analytics, Big Data, and Competitive Advantage

A Managers Guide to the Internet and Telecommunications

Information Security: Barbarians at the Gateway and Just About Everywhere Else

Google in Three Parts: Search, Online Advertising, and an Alphabet of Opportunity

Filters

Which of the following is not an example of larger, conventional firms working with sharing economy startups?