BUS-K 201 Lecture Exam 2 Study Guide Part 1 PDF

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K201 Lecture Exam 2 Study Guide Part 1 Q8.1-8.6 Vocab: Social Media (SM) - The use of information technology to share content Communities - groups of people related by a common interest Social media information system (SMIS): an information system that supports the sharing of content among networks of users.

Viral hook: some inducement, such as a prize or other reward, for passing communications along through the tiers.-. Content data: data and responses to data that are contributed by users. (likes on facebook?) Connection data: data about relationships. On Facebook, for example, the relationships to your friends are connection data. Social CRM: dynamic, SM-based CRM (customer relationship management) process. The relationships between organizations and customers emerge in a dynamic process as both parties create and process content. Crowdsourcing: the dynamic social media process of employing users to participate in product design or product redesign. When customers provide feedback of the product or service B2C: Business to customer relationship (uses social media to obtain this) B2B: Business to business relationship Capital: the investment of resources for future profit.

Human capital: the investment in human knowledge and skills for future profit. By going to college we’re investing in our human capital Social capital: the investment in social relations with the expectation of returns in the marketplace, like networking. Value of social capital: determined by the number of relationships in a social network, by the strength of those relationships, and by the resources controlled by those related Monetize: make money from, their application, service, or content Pay-per-click revenue model: advertisers display ads to potential customers for free and pay only when the customer clicks. Use increases value: The more people use a site, the more value it has, and the more people will visit. Freemium revenue model: offers users a basic service for free and then charges a premium for upgrades or advanced features. (like spotify) Ad-blocking software: to filter out advertising content and rarely, if ever, see Internet ads Conversion rate: measures the frequency that someone who clicks on an ad makes a purchase, “likes” a site, or takes some other action desired by the advertiser. (those who visit the site and do something valuable on it rather than just browsing and leaving) Metrics: measurements used to track performance. Vanity Metrics: Metrics that don’t improve your decision making Bounce rate: the percent of people who visit your Web site and then immediately leave. Competitive analysis: to identify the strengths and weaknesses in your competitor's’ use of social media. enterprise social network (ESN): a software platform that uses social media to facilitate cooperative work of people within an organization (social media like software within an organization) *an organization’s use of social media to connect individuals who share similar business interests Enterprise 2.0 : the use of emergent social software platforms within companies. In other words, the term Enterprise 2.0 refers to the use of enterprise social networks. Slates:

Folksonomy: a content structure that emerges from the processing of many user tags. Communication channels: A way of delivering a message, so the news, tv, social media, newspapers. There were very limited options back in the day so you had to pay a lot to get your advertisement out there Main Questions: Q8.1: What is a social media information system (SMIS)? It’s an information system that supports the sharing of content among networks of users. It has three primary roles, social media providers, users and communities Q8.2: How do SMIS advance organizational strategy? Each part of the SMIS helps determine the goal of the organizational strategy but it’s tricky because SM is such a dynamic unstructured process so looking at the value chain activities we can see that SMIS is organized and enhances the strategy

Q8.3: How do SMIS increase social capital? You can endorse someone on LinkedIn, like a picture on facebook, retweet something on twitter, promote something on twitter. SM helps you stay in contact with the network you are trying to grow which increases your social capital Q8.4: How do (some) companies earn revenue from social media? By advertisement and charging for premium service (like Spotify has premium, and they also have ads), the users are the products basically. Q8.5: How do organizations develop an effective SMIS?

Q8.6: What is an enterprise social network (ESN)?

a software platform that uses social media to facilitate cooperative work of people within an organization. The primary goal of enterprise social networks is to improve communication, collaboration, knowledge sharing, problem solving, and decision making. Kcoin Assessment: 1. Facebook, Twitter, LinkedIn, and Google are all social media (SM) application providers. a. True 2. Data and responses to data that are contributed to social media (SM) sites by users and SM sponsors are referred to as ________. a. Content Data 3. Social CRM is a(n) ________ process. a. Unstructured and uncontrolled 4. ________ is the dynamic social media process of employing users to participate in product design or product redesign. a. Crowdsourcing 5. ________ is the investment in social relations with the expectation of returns in the marketplace. a. Social capital 6. Which of the following best represents the value of social capital? a. Number of Relationships × Relationship Strength × Entity Resources 7. The ________ revenue model offers users a basic service for free, and then charges a premium for upgrades or advanced features. a. Freemium 8. Most social media companies rely on ________ for revenue. a. Advertising 9. ________ is the application of social media to facilitate the cooperative work of people inside organizations. a. Enterprise 2.0 10. According to McAfee, pushing enterprise content to users based on subscriptions and alerts is a characteristic of the ________ component of Enterprise 2.0. a. Signals Notes:

G7.1-7.6 Vocab: Structured processes: formally defined, standardized processes that involve day-to-day operations: accepting a return, placing an order, purchasing raw materials, and so forth

Dynamic processes: are flexible, informal, and adaptive processes that normally involve strategic and less structured managerial decisions and activities.

Workgroup process: to enable workgroups to fulfill the charter, purpose, and goals of a particular group or department. Workgroup information system(or functional information systems) : to support one or more processes within the workgroup. Functional application: Program component of a functional information system Enterprise processes: span an organization and support activities in multiple departments. Enterprise information systems: support one or more enterprise processes.

Process efficiency: a measure of the ratio of process outputs to inputs. (how fast they’re getting out and in the product) Process effectiveness: a measure of how well a process achieves organizational strategy. (how well their company is doing and the structure is doing) Information silo: The condition that exists when data are isolated in separate information systems this can cause data integrity because the data isn’t always together making things disorganized Business process reengineering: the activity of altering existing and designing new business processes to take advantage of new information systems. Inherent processes: predesigned procedures for using the software products Customer relationship management (CRM) system: 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. Customer lifecycle: 4 Stages→ marketing, customer acquisition, relationship management, and loss/churn. Enterprise resource planning (ERP): is a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computing platform. ERP system: an information system based on ERP technology. Process Blueprints: another name for the inherent process in the ERP solution Trigger: one of the two program codes organizational databases use, it’s stored within the database that runs to keep the database consistent when certain conditions arise. Stored Procedure: the second program code used, and it’s stored in the database that is used to enforce business rules. Train the Trainer: To reduce expenses, the vendors sometimes train the organization’s employees, called Super Users, to become in-house trainers Industry Specific Vendors: ERP vendors provide starter kits for specific industries

Main Questions: Q7-1: What are the basic types of processes? Q7-2: How can information systems improve process quality? • Performing an activity. • Augmenting a human who is performing an activity. • Controlling data quality and process flow. Q7-3: How do information systems eliminate the problems of information silos? An information silo is when the are two different databases, like information in different places which could cause problems because it’s disorganized but an information system will organize your data and put in into one database so you don’t get a data integrity problem Q7-4: How do CRM, ERP, and EAI support enterprise processes?

Q7-5: What are the elements of an ERP system? Q7-6: What are the challenges of implementing and upgrading enterprise information systems? Collaborative management - no one clear boss for certain things which can make for a long process Requirements gaps - Companies use already made enterprise applications so they’re not a perfect fit to the company's requirements so the company has to find the gap between the applications capability and companies requirements Transition problems - People have to adapt to the new enterprise update Employee resistance - First the senior management needs to reiterate this change constantly - Second they resist this because new change threatens their self efficacy - Thirdly many lower level employees won’t feel the benefits of the change New Technology

Kcoin Assessment: 1. Purchasing raw materials is an example of a structured process. a. True 2. ________ are formally defined, standardized processes that involve day-to-day operations. a. Structured process 3. Which of the following is an example of a dynamic process?

a. Nike uses Facebook and Twitter to generate buzz about its new line of running shoes. 4. ________ processes span an organization and support activities in multiple

departments. a. Enterprise 5. ________ is a measure of the ratio of process outputs to inputs. a. Process efficiency 6. Which of the following conditions exists when data are isolated in separate information systems? a. Information silo 7. 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? a. Disjointed processes 8. 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. a. Customer relationship management 9. Which phase of the customer life cycle focuses on sending messages to the target market to attract customer prospects? a. Marketing 10. Which of the following is performed by enterprise application integration? a. It connects system "islands" via a new layer of software....