What Is Customer Relationship Management (CRM)

question 101

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) Integrates 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 enterprisewide 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) Connects the plans, methods, and tools aimed at integrating separate enterprise system.

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Definitions:

Cash Receipts

The collection of cash, typically by a business from its customers, for goods or services provided.

Credit Sales

Credit sales are transactions where the customer purchases goods or services with an agreement to pay at a later date.

Cash Budget

A cash budget is a financial plan that estimates cash inflows and outflows over a specific period of time.

Housekeeping Budget

A financial plan allocating funds to maintain cleanliness, equipment, and supplies for housekeeping operations within an organization.