11) Social CRM is a(n) __ process.
A) structured and controlled
B) uncontrolled but structured
C) unstructured but controlled
D)unstructured and uncontrolled
12) __ activities are supported by structured process.
A) Operations and manufacturing
B) Sales and marketing
C) Media and human resource
D) Media and customer service
13) Which of the following statements is true aboutsocial CRM?
A) Customers likely to generate the most business get the most attention from the organization.
B) All the customer relationship processes in social CRM are structured and controlled.
C) Each customer crafts his or her own relationship with the company.
D) Though relationships emerge from joint activity, companies control the customers.
14) The primary risk of peer-to-peer support in the context of social media and customer service is __.
A) loss of control
B) loss of credibility
C) lack of privacy
D) lack of investment
15) Which of the following is a significant risk of using social media for inbound and outbound logistics?
A) loss of control
B) loss of credibility
C) loss of privacy
D) loss of effectiveness
16) __ is the dynamic social media process of employing users to participate in product design or product redesign.
A) Crowdsourcing
B) Outsourcing
C) Homesourcing
D) Showrooming
17) Which of the following is a risk associated with using social media in human resources to form conclusions about employees?
A) loss of privacy of the employees
B) loss of control over the employees
C) decrease in efficiency of the evaluation process
D) possibility of error on the site
18) Which of the following terms refers to the investment of resources for future profit?
A) capital
B) interest
C) loan
D) cash flow
A) Social capital
B) Social stock
C) Market stock
D) Media capital
20) A student invests money and time in a business administration course. In this example, the student invests in __.
A) human capital
B) social capital
C) structural capital
D) process capital
The Correct Answer and Explanation is :
Correct Answers:
1) D) Unstructured and uncontrolled
2) A) Operations and manufacturing
3) C) Each customer crafts his or her own relationship with the company.
4) A) Loss of control
5) A) Loss of control
6) A) Crowdsourcing
7) D) Possibility of error on the site
8) A) Capital
9) A) Social capital
10) A) Human capital
Explanation:
1) Social CRM (Customer Relationship Management) is an unstructured and uncontrolled process. Unlike traditional CRM, which is structured and controlled by companies, Social CRM involves customer interactions that evolve organically through social media. Companies cannot control how customers engage, making it both unstructured and uncontrolled.
2) Operations and manufacturing are supported by structured processes. These activities require efficiency, consistency, and clear workflows, which structured processes provide.
3) In Social CRM, each customer crafts their own relationship with the company. Unlike traditional CRM, where companies direct customer interactions, Social CRM allows customers to initiate and control their engagement.
4) The primary risk of peer-to-peer support is the loss of control. Customers help each other answer questions, which means companies do not control the information being shared.
5) The significant risk of using social media for inbound and outbound logistics is loss of control. When businesses rely on social platforms for logistics updates and communication, they risk misinformation, delays, or disruptions.
6) Crowdsourcing involves employing users to participate in product design or redesign. This is a dynamic process where companies gather ideas from a large group of people through social media.
7) A risk of using social media in human resources is the possibility of error on the site. Information online may be incorrect, leading to inaccurate conclusions about employees.
8) Capital refers to the investment of resources for future profit. It includes financial, physical, or human assets used to generate revenue or improve business performance.
9) Social capital refers to the investment of resources in relationships and networks for future profit. It involves leveraging relationships to create value.
10) A student investing money and time in a business course is investing in human capital. Human capital refers to knowledge, skills, and expertise gained through education and experience.