Business strategy

Question 1

What are the key drivers for empiricism?

Answer 1

1. Competitive threat
2. Willingness to experiment
3. Market growth potential
4. Decision decentralization
5. Solution Uncertainty

Question 2

What are the low and high indicators to competitive threat?

Answer 2

Low: high market share, few competitive alternatives, high customer lock-in
High: low market share, many competitive alternatives, low customer lock-in

Question 3

What are the high and low indicators of willingness to experiment?

Answer 3

Low: increasing plan detail, adding more reviews and milestones as uncertainty increases; deviation from plan are regarded as negative outcomes
High: Planning in small increments, forming hypothesis and running experiment when uncertainty increases; deviation from plan are regarded as simply new informations.