Internationalization
Which concept describes firms building and maintaining relationships across borders and attempting to penetrate the foreign market?
Internationalization
Which everyday tool is commonly used as an example of self-optimization through technology?
(use an example from our presentation)
Smart calendar (e-calendar)
What is simulation?
A mechanism that is used by platforms to attempt to recreate trust through reviews and ratings
What is the Virtual trap?
A concept that explains when firms overestimate digital interactions and underestimate the importance of physical presence in foreign markets
When individuals begin relying on algorithms instead of their own judgment, which key ability is diminished?
Autonomy
What term describes the shared perceptions among firms about their identity and characteristics within a group?
Cluster identity
What are the “liabilities of platformization”? Come up with at least one example.
Challenges digital platform firms face, such as difficulty building trust, attracting users, and forming strong foreign partnerships.
How does the Silicon Valley ideology influence firms’ approach to technology?
It promotes the idea that technology can optimize efficiency and replace human judgment. Firms begin to rely heavily on algorithms and digital tools for decision-making.
Why can the absence of face-to-face interaction lead to mistrust?
Because personal interaction helps build trust, and without it, relationships can feel less reliable or authentic.
Digital communication lacks the emotional and social cues present in physical meetings.