Chapter 1
This function is used to add up the values in a range of cells.
SUM
You want to highlight cells in column D where revenue changes are below average. Which conditional formatting option is most appropriate to use?
Below Average
What is a network effect?
This phenomenon occurs when a product or service becomes more valuable as more people use it.
What is Disruptive Innovation?
This term refers to innovations that create new markets or significantly alter existing ones by displacing established market leaders.
What is vertical integration?
This strategy involves a firm owning multiple stages of its value chain, such as production, logistics, and distribution, to improve efficiency and control over operations.
What is the correct order of the Hype Cycle?
Innovation Trigger, Peak of Inflated Expectations, Trough of Disillusionment, Slope of Enlightenment, Plateau of Productivity
You want to sort a list of employees first by department and then by salary within each department. Which advanced feature should you use?
Multi-level Sort
In a market where both buyers and sellers benefit from increased participation on either side, what type of market is this called?
Two-sided market
Disruptive innovations often start by targeting this group, which is typically overlooked by established competitors.
underserved or niche customers
You want to calculate the average revenue change for firms, but only for those categorized as "High Increase." Which Excel function would you use to perform this calculation?
AVERAGEIF
You want to organize a list of employees by their salaries, from highest to lowest. Which Excel feature is most appropriate to use?
Sort
You need to visually represent positive, neutral, and negative revenue changes in a column using arrows. Which conditional formatting option should you apply?
Icon Sets
What term describes the long-term viability of a product or service, often enhanced by network effects and switching costs?
Staying Power
This type of chart is ideal for comparing values across categories, where the length of bars represents the magnitude of each value.
Bar Chart
Zara’s ability to go from design to store shelves in just 15 days is a key element of its success. What specific practices in Zara’s value chain enable this rapid turnaround time?
vertical integration, just-in-time manufacturing, local supplier networks, real-time inventory tracking with RFID, and data-driven design based on customer feedback
Uber, Airbnb, and Alibaba are examples of companies that disrupted industries by adopting this type of asset-light business model.
What is the platform business model?
What is the Value Chain?
This framework identifies primary and support activities within a firm, showing how they add value to products or services as they move through the organization.
You have a dataset with sales numbers in column A, and you need to calculate the total sales. However, instead of manually typing the formula, which feature on the ribbon can you use to quickly calculate the sum?
AutoSum
How is Uber a disruptive innovation?
This company disrupted the transportation industry by offering a platform that connects riders with drivers, without owning any vehicles itself.
You want to calculate the average sales for all products that sold more than 1,000 units. Which two Excel functions would you use together?
SUMIF and COUNTIF
You are calculating percentages for regional revenue in column B as a share of the total revenue in cell B10. What formula should you write in cell C6 to ensure the reference to B10 remains fixed when copied down?
=B6/$B$10?
This force in Porter’s Five Forces examines how easy it is for customers to switch to a competitor’s product or service, impacting industry profitability.
Buyer Power
You are analyzing a dataset and need to find the average value of a range of cells, but you also want to know how many numeric entries are included in the calculation. Which two functions would you use together?
AVERAGE and COUNT
You want to visualize the relationship between two numerical variables, such as sales and advertising spend. Which type of chart is most appropriate to use?
Scatter plot
You are tasked with calculating the total revenue for all products sold in a specific region and then finding the maximum revenue within that region. Which two Excel functions would you use together?
SUMIF and MAX