Question 1

Are social media measurements always quantitative? Support your answer.

Accepted Answer

Social media measurements are not always quantitative. While quantitative measurements such as the number of likes, shares, and comments are commonly used to gauge social media engagement, there are also qualitative measurements that are important to consider. Qualitative measurements can include sentiment analysis, brand perception, and customer feedback, which provide valuable insights into the overall impact and effectiveness of social media efforts. Therefore, it is important to consider both quantitative and qualitative measurements when evaluating social media performance.

Question 2

How can data mining be used by an Internet furniture company? Provide several specific examples.

Accepted Answer

Data mining can be used by an Internet furniture company in several ways to improve their business operations and customer experience. Here are a few specific examples:

1. Customer segmentation: By analyzing customer data, such as purchase history, browsing behavior, and demographic information, the company can use data mining techniques to segment their customers into different groups based on their preferences and buying habits. This can help the company tailor their marketing efforts and product offerings to better meet the needs of each customer segment.

2. Predictive analytics for inventory management: Data mining can be used to forecast demand for different furniture items based on historical sales data, seasonal trends, and other relevant factors. This can help the company optimize their inventory levels, reduce stockouts, and minimize excess inventory, ultimately leading to cost savings and improved customer satisfaction.

3. Personalized recommendations: By analyzing customer data and purchase patterns, the company can use data mining to generate personalized product recommendations for each customer. This can enhance the customer shopping experience, increase sales, and foster customer loyalty.

4. Fraud detection: Data mining techniques can be applied to detect and prevent fraudulent activities, such as payment fraud or identity theft. By analyzing transaction data and customer behavior, the company can identify suspicious patterns and take proactive measures to mitigate potential risks.

Overall, data mining can empower an Internet furniture company to make more informed business decisions, enhance customer satisfaction, and gain a competitive edge in the online furniture market.

Question 3

How can cloud computing change how a company operates? How can cloud computing impact the human resources of a company?

Accepted Answer

Cloud computing can change how a company operates in several ways. Firstly, it can provide greater flexibility and scalability, allowing companies to easily adjust their computing resources based on demand. This can lead to cost savings and improved efficiency. Additionally, cloud computing can enable remote work and collaboration, as employees can access company data and applications from anywhere with an internet connection. This can lead to increased productivity and a more agile workforce.

In terms of human resources, cloud computing can impact the way a company manages its employees. With cloud-based HR systems, companies can streamline their HR processes, such as payroll, benefits administration, and performance management. This can lead to greater efficiency and accuracy in HR operations. Additionally, cloud computing can enable better communication and collaboration among employees, as they can easily share documents and information through cloud-based platforms. This can lead to improved teamwork and employee engagement.

Overall, cloud computing can have a significant impact on how a company operates and how it manages its human resources, leading to greater efficiency, flexibility, and collaboration.

Question 4

Describe some of the ethical and social responsibilities that a business has when doing business through the Internet.

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Question 5

Compare podcasts and social games as social media opportunities for businesses. Why would you as a business owner choose one over the other? Which would be most appropriate if a company were looking to insert advertising?

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Question 6

Describe some of the ways that a business may choose to interact with other businesses or existing or potential consumers through social media.

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Question 7

Describe three modified versions of B2B and B2C.

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Question 8

What are the two options for increasing profits in a small Internet-based company? Which path would you choose for a struggling unique, artsy, designer t-shirt company? Justify your answer with specific details and examples.

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Question 9

How do e-business and e-commerce differ?

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Question 10

Describe m-commerce. How do you think it may change the retail industry?

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Question 11

What is a social media community? List some specific characteristics that social media communities offer.

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Question 12

Describe the term "digital native" and explain if you think the term and the definition are accurate. Provide examples to support your position.

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Question 13

Describe how a blog could be beneficial for a company.

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Question 14

How can "likes" and "dislikes" impact a business? Provide examples to support your answer.

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Question 15

Describe the internal and external forces that affect e-business.

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Question 16

Describe the two primary models of e-business.

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Question 17

How does a computer virus differ from malware? Are these the only two threats to computers?

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Question 18

What is inbound marketing? Describe at least four areas of online marketing. Which of these would help a new start-up company and why?

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Question 19

Provide at least two examples of how crowdsourcing can be used by a company. Be specific and provide realistic scenarios.

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Question 20

What are KPIs, and what role do they play for a company? What are some typical KPIs that an online retailer might use?

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Quiz 16: Social Media, E-Business, and Accounting