What Is Customer Relationship Management (CRM)

question 8

Multiple Choice

What is customer relationship management (CRM) ?

• A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
• B) Integration of all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations
• C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
• D) Connection of the plans, methods, and tools aimed at integrating separate enterprise system

Explain the process of helping behavior and the factors that influence the likelihood of bystander intervention.

Identify the factors leading to and consequences of stereotype threat and how it affects behavior.

Understand the psychological mechanisms behind social comparison and how it affects individual decision-making in social contexts.

Recognize how self-concept and group identity contribute to social behaviors such as in-group favoritism and out-group discrimination.

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Definitions:

Operating Expenses

Expenses related to the day-to-day operations of a business that are not included in the cost of goods sold, such as rent, salaries, and utilities.

Capital Budgeting

The process of planning and managing a company's long-term investments in projects or assets, evaluating potential returns and risks.

Straight-Line Depreciation

A method of calculating depreciation by evenly spreading the cost of an asset minus its salvage value over its useful life.

Capital Budgeting

The process of evaluating and selecting long-term investments that are expected to yield benefits over several years, such as purchasing new machinery or expanding facilities.