Question 1

Nathan is a manager and handles a team that creates academic content for a university. He shifts a high-priority project from an underperforming employee to a group of subject matter experts. What is this process called?
A) Crowdsourcing
B) Sugging
C) Trolling
D) Astroturfing
E) Showboating

Accepted Answer

Shifting a high-priority project from an underperforming employee to a group of subject matter experts is an example of crowdsourcing, which is the process of obtaining ideas or content from a large number of people, often from an online community or crowd.

Question 2

Outsourcing the management of a firm's social media presence to a third party agency is generally considered an effective management practice as internal staff can focus on performance.

Accepted Answer

The answer of Outsourcing the management of a firm's social...

Question 3

Another term for the word griefer is _____.

Accepted Answer

The answer of Another term for the word griefer is...

Question 4

A necessary criterion for a crowd to be "smart" is that it should be homogenous to reduce incidence of polarized insights.

Accepted Answer

A smart crowd is one that is diverse, with individuals bringing different perspectives and knowledge to the conversation. This diversity can actually help reduce polarization and increase the likelihood of finding optimal solutions.

Question 5

In the context of social media, a(n) _____ is an established online presence where customers can reach and interact with the firm.

Accepted Answer

The answer of In the context of social media, a(n)...

Question 6

What is crowdsourcing?
A) It is the act of taking a job traditionally performed by a designated agent and outsourcing it to an undefined generally large group of people in the form of an open call.
B) It is the act of moving a job from a group of ineffective employees to an efficient employee.
C) It is the process of selling products to people in the guise of conducting marketing research.
D) It is the act where a group of people moves from one country to another while looking out for better work opportunities.
E) It is the movement of employees from one department to another with the aim of improving their skill sets.

Accepted Answer

Crowdsourcing is the process of taking a job traditionally performed by a designated agent and outsourcing it to an undefined generally large group of people in the form of an open call. This can be done for various tasks such as solving problems, generating ideas, or completing tasks. The concept of crowdsourcing leverages the collective intelligence of a large group of people to achieve a common goal.

Question 7

The process of tracking and responding to online mentions of a product, organization, or individual is known as:
A) astroturfing.
B) public relations marketing.
C) public profile doctoring.
D) online reputation management.
E) image maintenance service.

Accepted Answer

Online reputation management involves monitoring and managing the online presence of an individual, organization, or product. This includes tracking online mentions and responding to any negative comments or reviews in order to maintain or improve the individual or organization's reputation. Astroturfing refers to the practice of creating a false or misleading impression of grassroots support for a product or organization, while public relations marketing and public profile doctoring are not precise descriptions of this process. Image maintenance service is not a commonly used term for this process.

Question 8

The act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an undefined generally large group of people in the form of an open call is called _____.

Accepted Answer

The answer of The act of taking a job traditionally...

Question 9

A(n) _____ is a fake online persona created to promote a particular point of view, often in praise of a firm, product, or individual.
A) avatar
B) troll
C) sock puppet
D) poltergeist
E) gadfly

Accepted Answer

This practice is known as "sock puppetry".

Question 10

Which of the following represents potential ethical challenges associated with prediction markets?
A) Artificial inflation of product prices
B) Money-laundering
C) High-interest financing
D) Confiscation by government agencies
E) An insider trading information

Accepted Answer

Insider trading information can be shared in prediction markets, which could lead to unethical behavior and harm the integrity of the market. The other options are not directly related to prediction markets.

Question 11

_____ refers to engineering the posting of positive comments, and reviews of a firm's product and services.

Accepted Answer

The answer of _____ refers to engineering the posting of...

Question 12

The wisdom of crowds concept is based on the belief that a diverse group of individuals is always correct in its assessment of a problem, as compared to a group of qualified individuals.

Accepted Answer

The wisdom of crowds concept is actually based on the idea that a group of individuals, regardless of their qualifications, can make more accurate predictions or decisions than any single individual in the group. However, the group must meet certain conditions, such as being diverse, independent, decentralized, and having a way to aggregate their individual opinions.

Question 13

A prediction market involves:
A) leveraging customers to virally promote a firm's products or services.
B) aggregating the opinions of a specialized group of experts who analyze a problem and suggest solutions.
C) making calculated estimates on the prices of goods and services based on the speculation of a group of experts.
D) polling a diverse crowd and aggregating opinions to form a forecast of an eventual outcome.
E) trading on essential goods and services with a view of making a profit by hiking prices at a time of high demand.

Accepted Answer

A prediction market involves polling a diverse crowd and aggregating opinions to form a forecast of an eventual outcome. It is often used to predict the likelihood of future events such as election results, stock price movements, and product demand.

Question 14

Not all crowdsourcing efforts are financially motivated.

Accepted Answer

Crowdsourcing efforts can be motivated by a variety of factors such as community building, problem solving, innovation, and creativity, among others. Not all crowdsourcing efforts are directly tied to financial incentives or rewards.

Question 15

Which of the following criteria, according to James Surowiecki, is necessary for a crowd to be "smart"?
A) Strongly opinionated
B) Homogeneous
C) Offer a wide range of verdicts
D) Decentralized
E) Intellectually proximate

Accepted Answer

According to James Surowiecki, for a crowd to be "smart", it must be decentralized. This means that the decision-making process should not be controlled by a single person or group, but rather should be spread out among many individuals. This allows for a diversity of perspectives and opinions to be considered, leading to a more accurate and informed decision.

Question 16

Which of the following is an example of crowdsourcing?
A) Reuben takes Mary's job and assigns it to a group of highly efficient employees.
B) Karl, a manager, assigns a high-yielding project to the most unproductive individual in the organization in an effort to train him.
C) Richard takes a project belonging to a team and assigns it to a highly qualified individual, Robin.
D) A group of people having the same educational background moves from one country to another in a search of similar kinds of job.
E) Smith, a manager, wants to improve the skill sets of his employees. He arranges for an inter-department shift for all his employees.

Accepted Answer

The answer of Which of the following is an example...

Question 17

List and describe key components that should be included in any firm's social media policy.

Accepted Answer

The answer of List and describe key components that should...

Question 18

What are prediction markets? How have firms leveraged the concept to suit their commercial needs? What are the concerns associated with prediction markets?

Accepted Answer

The answer of What are prediction markets? How have firms...

Question 19

_____ is tasked with creating policies, providing support, training, guidance and development expertise for and monitoring of a firm's social media efforts.
A) SMART
B) A public relations team
C) A spokesperson
D) A media team
E) SWOT

Accepted Answer

The answer of _____ is tasked with creating policies, providing...

Quiz 8: Social Media, Peer Production, and Web 20

Nathan is a manager and handles a team that creates academic content for a university. He shifts a high-priority project from an underperforming employee to a group of subject matter experts. What is this process called?

Outsourcing the management of a firm's social media presence to a third party agency is generally considered an effective management practice as internal staff can focus on performance.

Another term for the word griefer is _____.

A necessary criterion for a crowd to be "smart" is that it should be homogenous to reduce incidence of polarized insights.

In the context of social media, a(n) _____ is an established online presence where customers can reach and interact with the firm.

What is crowdsourcing?

The process of tracking and responding to online mentions of a product, organization, or individual is known as:

The act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an undefined generally large group of people in the form of an open call is called _____.

A(n) _____ is a fake online persona created to promote a particular point of view, often in praise of a firm, product, or individual.

Which of the following represents potential ethical challenges associated with prediction markets?

_____ refers to engineering the posting of positive comments, and reviews of a firm's product and services.

The wisdom of crowds concept is based on the belief that a diverse group of individuals is always correct in its assessment of a problem, as compared to a group of qualified individuals.

A prediction market involves:

Not all crowdsourcing efforts are financially motivated.

Which of the following criteria, according to James Surowiecki, is necessary for a crowd to be "smart"?

Which of the following is an example of crowdsourcing?

List and describe key components that should be included in any firm's social media policy.

What are prediction markets? How have firms leveraged the concept to suit their commercial needs? What are the concerns associated with prediction markets?

_____ is tasked with creating policies, providing support, training, guidance and development expertise for and monitoring of a firm's social media efforts.