Identify and Describe the Two Types of Customer Relationship Management

question 85

Essay

Identify and describe the two types of customer relationship management applications.

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Definitions:

Microworld

A simplified, manageable model of a complex system used for educational purposes or to simulate scenarios for research and analysis.

Computer-Based Simulation

Use of computer algorithms and models to replicate or mimic real-world processes, scenarios, or systems for analysis, prediction, or educational purposes.

Social Traps

Situations where individuals or groups pursue immediate rewards that later prove to have negative or even disastrous consequences.

Overconfidence

The psychological state of being too confident in one’s own abilities, often leading to taking greater risks.