Cloudstrat quiz

Question 1

2 types of complexity

Answer 1

Detail and Dynamic

Question 2

Detail Complexity

Answer 2

many variables, components and relationships in a system.

Question 3

Dynamic Complexity

Answer 3

Complex behavior over time because of delays and nonlinear. EX - Tech markets

Question 4

Mental Models

Answer 4

deeply ingrained assumptions and generalizations that influence how we understand the world and how we make decisions.

Question 5

Mental Models PRO

Answer 5

Supplies structure, increases efficiency of decision-making, shapes identity.

Question 6

Mental Models CON

Answer 6

Limited perspective, weak heuristics, assumptions (bias)

Question 7

Learning type: single loop

Answer 7

Observe, adapt –> Decide –> Act –> repeat. Existing mental models do not vary.

Question 8

Simple Learning

Answer 8

“kind” - provides regular feedback and encourages repetitive practice with a feedback loop.

Question 9

Complex Learning

Answer 9

“wicked” - provides messy data that can seem random, ambiguous, etc. For example, the stock market environment could be labelled as “wicked”

Question 10

Learning type: double loop

Answer 10

Observe, adapt –> Decide –> Act –> repeat. Feedback also stimulates potential change to mental models.

Question 11

Double Loop - why is it hard?

Answer 11

Requires Metacognition - or awareness of our own thought process.

Question 12

simulation definition

Answer 12

Formal models or micro-worlds in which decision makers can experiment, play, and refine decision-making skills.