K201 Excel Lecture Exam
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Porter's five forces model is used to assess ___________.
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industry structure
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According to Porter's five forces model, the intensity of each of the forces determines the characteristics of the industry, how profitable it is, and how sustainable that profitability will be. T/F
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True.
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According the Porter's five forces model, which of the following firms would be least affected by the threat of substitutes?
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a firm that sells the only drug that cures a disease
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According to Porter's five forces model, in which of the following situations would the suppliers have the highest bargaining power?
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a single vendor providing raw materials to many department stores
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which of the following factors determines the structure, features, and functions of an information system used in the company?
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the competitive strategy
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according to Porter's five forces model, in which of the following examples would rivalry be considered as a weak force affecting the market?
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US military services
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In the context of Porter's five forces model, the bargaining power of customers of medicinal drugs is increased when pharmaceutical companies patent their products. T/F
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False; the patent would decrease customer bargaining power because there would be no alternatives until the patent expires
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the automobile industry is characterized by many manufacturers and intense competition among them. This statement illustrates _________.
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high levels of rivalry
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Focused differentiation occurs when _______.
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a better product is provided within an industry segment
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a telecom service provider focusing on high-end users is following an industry-wide differentiation strategy. T/F
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false; this is an example of a focused differentiation strategy not industry-wide
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a business that selects a differentiation strategy would invariably structure itself around low-cost activities. T/F
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false
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a business with a differentiation strategy will add cost to an activity only as long as the people has a positive margin T/F
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true
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the difference between the value that an activity generates and the cost of the activity is called the _________.
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margin
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identify the activity in the value chain that involves receiving and handling of raw materials and other inputs to the product
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inbound logistics
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which of the following value chain activities involves collecting, storing, and physically distributing the product to buyers?
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outbound logistics
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a service company checks the availability of resources before planning its projects. this activity can be classified under _________.
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linkages
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a __________ is a network of activities that generate value by transforming inputs into outputs
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business process
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which of the following statements is true of business process designs?
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most process designs require people to work in new ways
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locking in customers by making it difficult or expensive for customers to move to another product is called establishing high _______.
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switching costs
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an organization implements an information system to optimize its supply chain. the system helps the organization to reduce wastes. in this scenario, implementing the information system was helped the organization to gain a competitive advantage by _________.
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reducing costs
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purchasing raw materials is an example of a structure process. T/F
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true
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_______ are formally defined, standardized processes that involve day-to-day operations
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structured processes
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which of the following is an example of a dynamic process?
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nike uses Facebook and twitter to generate buzz about its new line of running shoes
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_______ processes span an organization and support activities in multiple departments.
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enterprise
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_________ is a measure of the ratio of process outputs to inputs.
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process efficiency
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which of the following conditions exists when data are isolated in separated information systems?
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information silo
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Tony requests a credit approval of $25,000. Instead, he gets $15,000 approved as customer credit. Which of the following problems caused by information silos is most likely the reason behind it?
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disjointed processes
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A(n)________ system is a suite of applications, a database, and a set of inherent processes for managing all the interactions with the customer, from lead generation to customer service.
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customer relationship management
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Which phase of the customer life cycle focuses on sending messages to the target market to attract customer prospects?
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marketing
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which of the following is performed by enterprise application integration?
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it connects system \"islands\" via a new layer of software
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Facebook, Twitter, LinkedIn, and Google are all social media (SM) application providers. T/F
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true
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Data and responses to data that are contributed to social media (SM) sites by users and SM sponsors are referred to as ________.
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content data
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social CRM is an __________ process.
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unstructured and uncontrolled
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________ is the dynamic social media process of employing users to participate in product design or product redesign.
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crowdsourcing
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________ is the investment in social relations with the expectation of returns in the marketplace.
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social capital
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Which of the following best represents the value of social capital?
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number of relationships x relationship strength x entity resources
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The ________ revenue model offers users a basic service for free, and then charges a premium for upgrades or advanced features.
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freemium
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Most social media companies rely on ________ for revenue.
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advertising
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________ is the application of social media to facilitate the cooperative work of people inside organizations.
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enterprise 2.0
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According to McAfee, pushing enterprise content to users based on subscriptions and alerts is a characteristic of the ________ component of Enterprise 2.0.
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signals
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competitive strategy
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chooses this to respond to the structure of its industry
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value
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the amount of money that customer is willing to pay for a resource, product, or service
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margin
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the difference between the value that an activity generates and the cost of the activity
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value chain
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a network of value-creating activities
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support activities in the value chain
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contribute indirectly to the production, sale, and service of the product
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procurement
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consists of the processes of finding vendors, setting up contractual arrangements, and negotiating prices
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inbound logistics
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receiving, storing, and disseminating inputs to the products
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operations/manufacturing
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transforming inputs into the final products
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outbound logistics
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collecting, storing, and physically distributing the products to buyers
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sales and marketing
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inducing buyers to purchase the products and providing a means for them to do so
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customer service
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assisting customers' use of the products and thus maintaining and enhancing the products' value
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linkages
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interactions across value activities; can be used to reduce inventory costs
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business process design
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designed from Porter's work; central idea is that organizations should not automate or improve existing function systems. rather, they should create new, more efficient business processes that integrate the activities of all departments involved in a value chain
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business process
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a network of activities that generate value by transforming inputs into outputs
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cost of the business process
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the cost of the inputs plus the cost of the activities
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margin of the business process
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the value of the outputs minus the cost
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activity of business process
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each is a business function that receives inputs and produces outputs
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repository
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a collection of something; ex: a database
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competitive advantage via products
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gain a competitive advantage by creating new products or services, by enhancing existing product or services, and by differentiating their products and services from those of their competitors
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competitive advantage via business processes
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lock in customers, lock in suppliers, creating entry barriers, establish alliances, reducing costs
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switching costs
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organizations can lock in customers by making it difficult or expensive for customers to switch to another product; called establishing high switching costs
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structured processes
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formally defined, standardized processes that involve day-to-day operations: accepting a return, placing an order
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dynamic processes
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flexible, informal, and adaptive processes that normally involve strategic and less structured managerial decisions and activities; deciding whether to open a new store location
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workgroup process
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exists to enable workgroups to fulfill the charter, purpose, and goals of a particular group or department
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workgroup information system
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exists to support one or more processes within the workgroup; also known as function information systems
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functional application
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the program component of a functional information system
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enterprise processes
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span an organization and support activities in multiple departments
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enterprise information systems
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support one or more enterprise processes
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inter-enterprise processes
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span two or more independent organizations
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inter-enterprise information systems
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support one or more inter-enterprise processes
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process efficiency
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a measure of the ratio of process outputs to inputs
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process effectiveness
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a measure of how well a process achieves organizational strategy
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how to improve the quality of a process
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change the process structure, resources, or both
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information silo
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the condition that exists when data are isolated in separated information systems
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business process reengineering
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the activity of altering existing and designing new business processes to take advantage of new information systems
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inherent processes
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predesigned procedures for using the software products, saved organizations from the expense, delays, and risks of business process reengineering
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customer relationship management system (CRM)
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a suite of applications, a database, and a set of inherent processes for managing all the interactions with the customer, from lead generation to customer service
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customer life cycle
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marketing, customer acquisition, relationship management, and loss/churn
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enterprise resource planning (ERP)
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a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computer platform
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ERP system
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an information system based on ERP technology
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enterprise application integration
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used to solve problems associated with information silos; a suite of software applications that integrates existing systems by providing layers of software that connect applications together; connects system \"islands\" via a new layer of software/system, enables existing applications to communicate and share data, provides integrated info, leverages existing systems, enables a gradual move to ERP
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process blueprints
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the inherent processes that are defined in the ERP solution
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train the trainer
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training sessions by trained employees
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industry-specific solutions
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starter kits for specific industries provided by ERP vendors
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self-efficacy
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a person's belief that he or she can be successful at his or her job
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social media
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the use of information technology to support the sharing of content among network of users
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social media information system
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an info system that supports the sharing of content among network of users
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viral hook
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a prize or reward for passing communications along through the tiers
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content data
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data and responses to data that are contributed by users
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connection data
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data about relationships
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social CRM
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a dynamic SM-based CRM process
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crowdsourcing
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the dynamic social media process of employing users to participate in product design or product redesign
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social capital
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the investment in social relations with the expectations of returns in the marketplace
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conversion rate
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measures the frequency that someone who clicks on an ad makes a purchase, \"likes\" a site, or takes from other action desired by the advertiser
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enterprise social network (ESN)
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a software platform that uses social media to facilitate cooperative work of people within an organization
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enterprise 2.0
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the use of emergent social software platforms within companies, or between companies and their partners or customers; the use of enterprise social networks
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SLATES
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search, links, authoring, tags, extensions, signals
