Chapter 2: Social Media in Business

What is EXECUTIVE buy-in?

• A measure of profitability

• The commitment from employees

• The support and commitment from top management towards a particular project

• The influence of social media

What does company culture refer to?

• The shared values, beliefs, and practices that characterize the organization

• The goals of the company

• The executive buy-in of the company

• The organizational goals

What does ROI stand for?

• Return on Investment

• Rate of Investment

• Return on Industry

• Rate on Internet

Which organizational level refers to the number of managerial layers a company has - also known as a hierarchy (think of layers like a structure)

• Organization Arrangement

• Organizational Matrix

• Organizational Structure

What is Functional Organizational Arrangement?

• Grouped together based on geographical location, product lines, or customer demographics

• Combining functional and divisional and then assigning teams

• Grouped together based on functionality or activity such as markingeting, sales, products, etc.

What is a mission statement?

• A brief description of an organization's purpose and core values

• A marketing strategy document

• A financial report outlining company performance

• A detailed business plan

What is a core business goal?

• A secondary objective for maintaining operations

• A target set for product development

• A primary objective that a business aims to achieve to ensure its growth and success

• A long-term goal to expand the business internationally

What is Organizational Arrangement?

• Refers to how a company arranges its employees together

• Refers to the number of managerial layers a company has - also known as a hierarchy

• Combining both functional and divisional

What is Crowdsourcing?

• The practice of outsourcing tasks to other companies

• The practice of gathering ideas, services, or content from large groups of people, typically SOURCING from an online community

• The practice of collecting competitive intelligence

• The practice of gathering data from social media users

What is Crowdshaping?

• The use of predictive modeling to forecast market trends

• The use of data analytics to shape marketing strategies

• The use of real-time data collected from a large group of people to SHAPE business strategies and decisions

• The use of focus groups to influence business decisions