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Exam 15: Social Media and E-Business

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Question 1

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Marta invests a substantial amount of money to take her business online.She is extremely discouraged when three months pass and she has not produced enough new revenues to offset the high start-up costs.What sound advice could you give Marta?

A) Hurry up and cut your losses now and get out before you lose everything.
B) If in two more months things have not turned around, take the business offline.
C) It is unusual for an e-business to take such a long time to recover its investment, so she must be doing a poor job.
D) Because the initial start-up costs were high, it may take longer to recover, but it is too soon to determine the long-term success.
E) To make the business successful, she should double the amount of money invested in the e-business.

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Question 2

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Which of the following type of individual who uses social media maintains a profile and visits social networking sites?

A) Collectors
B) Joiners
C) Critics
D) Creators
E) Spectators

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Question 3

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Which of the types of resources needed for an e-business is Storybook.com most likely to receive from an investor?

Current estimates suggest that about ____ people in the world use the Web.

Tech savvy, digital natives born after 1980 are known as

Pure Training, Inc. Pure Training, Inc., is a company that helps people start their own businesses.As part of the training it provides, the company covers many different aspects of entrepreneurship for Internet-based companies.One principle its trainers focus on is customer service.Pure Training emphasises the importance of connecting with potential and current customers as well as improving customer service.Developing a social media presence is another focus of Pure Training in its entrepreneur-based sessions.The trainers provide their clients with sufficient market research and statistics to understand trends in various areas that involve the Internet and social media.Pure Training prides itself on helping entrepreneurs launch and maintain successful businesses through a major Internet presence. -Refer to Pure Training, Inc.When Pure Training is discussing typical measurements for various types of social media and it starts discussing "number of fans," "number of likes," and "growth of wall responses," clients should know that these are typical measurements for

Social media is used by approximately ____ of online adults.

"Spectators" read blogs, listen to podcasts, and read online forums.

Providing information that customers want through a corporate website can reduce total expenses.

Which of the following is true about the definition of social media?

Rosie's Flowers Company in Tulips, Ohio, uses an e-commerce software programme on its website to allow customers to enter their own orders for flowers that are delivered by the end of the next business day.Rosie's Flowers follows a(n) ____ model.

There are no such things as special e-business resources.

Which of the following is the last step in building a social media plan?

After a company listens and pays attention to what is being said about a company through social media, what is the following step?

Crowdsourcing involves outsourcing tasks to another business--most often a business overseas.

____ read online forums, read blogs, and listen to podcasts.

The cost to create and distribute photos, videos, and podcasts should be a consideration when deciding to participate in media sharing.

Academic Standard, Inc.(ASI) Academic Standard, Inc.(ASI) , sells its products through the Internet.Amanda is one of the biggest buyers of the company's products for her business.Nearly all of the interactions between Amanda's company and ASI have been electronic, saving both time and energy. Although transaction costs are reasonable, ASI has encountered financial problems with high production costs.Jonathan, a veteran employee of ASI, suggested to senior management that certain aspects of production may need to be handled by other, more efficient companies.Jonathan also suggested that the company might want to create a physical store to possibly increase its visibility and potential profits.He explained many disadvantages of operating solely through the Internet. -Refer to Academic Standard, Inc.Jonathan suggested that the company ____ part of production.

Which of the following is true about social media measurement tools?

Globalisation, convergence of technologies, and demographic forces are considered external forces that affect e-business.