Exam 9: Social Media, Peer Production, and Web 20

Which of the following statements holds true for Wikis?

Which of the following represents potential ethical challenges associated with prediction markets?

Twitter's new software development kit (SDK), called ________, could be the way the company captures more revenues and broadens Twitter's reach.

What are prediction markets? How have firms leveraged the concept to suit their commercial needs? What are the concerns associated with prediction markets?

In the context of social media, a(n) _____ is an established online presence where customers can reach and interact with the firm.

Blogs are used to collaborate on common tasks or to create a common knowledge base.

Bloggers and other users of social media often refer to the MSM. What does this acronym stand for?

The use of public social networks within private organizations is growing, and many organizations are implementing their own, private, social networks.

Not all crowdsourcing efforts are financially motivated.

Unlike Facebook friending, Twitter's default setting allows for symmetrical following.

Many social media websites have emerged as top destinations on the Internet, however the category has remained volatile, with many one-time leaders losing popularity over time.

A(n) _____ is a fake online persona created to promote a particular point of view, often in praise of a firm, product, or individual.

How has the rise of microblogging in general, and Twitter in particular, impacted the way people communicate and do business?

List and describe key components that should be included in any firm's social media policy. With the growing influence of social networks and other forms of social interaction over the Internet, establishing corporate policies and setting employee expectations is an imperative for all organizations. The employees who don't understand the impact of social media on the firm can do serious damage to their employers and their careers. Many experts suggest that a good social media policy needs to be three things: "short, simple, and clear". Most guidelines emphasize the "three Rs" of representation, responsibility, and respect: $\bullet$ Representation: Employees need clear and explicit guidelines on expectations for social media engagement. Firms may also want to provide guidelines on initiating and conducting dialog, when to respond online, and how to escalate issues within the organization. $\bullet$ Responsibility: Employees need to take responsibility for their online actions. Firms must set explicit expectations for disclosure, confidentiality and security, and provide examples of engagement done right, as well as what is unacceptable. An effective social voice is based on trust, so accuracy, transparency, and accountability must be emphasized. Consequences for violations should be clear. $\bullet$ Respect: Firms need to reinforce in their employees, the need to honor differences in customers and to act ethically and responsibly. Policies also need to have teeth. Violators should know the consequences of breaking firm rules and policies should be backed by action. However, trying to micromanage employee social media use is probably not the answer. Training should also be provided to employees to cover information security and potential threats. Social media has become a magnet for phishing, virus distribution, and other nefarious online activity. The social media team will need to monitor threats and spread the word on how employees can surf safe and surf smart.

Any Twitter user can create hash tags to organize tweets by simply appending a # character before a character.

Most mainstream news outlets have begun supplementing their content with blogs that can offer greater depth, more detail, and deadline-free timeliness.

Pinterest pins and Twitter retweets are examples of earned media.

As with other types of social media, content flows in social networks are to control.

Which of the following is not a key feature of a blog? a. Searchability b. Predictability c. Ease of Use d. Reverse Chronology e. Comment Threads b

Unlike Facebook, where most users must approve "friends" before they can see status updates, Twitter's default setting allows for _____ following.