Practice Questions & Answers :: eLitmus

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 The most avid users of social-networking websites may be exhibitionist teenagers, but when it comes to more grown-up use by business people, such sites have a surprisingly long pedigree. LinkedIn, an online network for professionals that signed up its ten-millionth user this week, was launched in 2003, a few months before MySpace, the biggest of the social sites. Consumer adoption of social networking has grabbed most attention since then. But interest in the business uses of the technology is rising. Many companies are attracted by the marketing opportunities offered by community sites. But the results can be painful. Pizza Hut has a profile on MySpace devoted to a pizza-delivery driver called Ted, who helpfully lets friends in on the chain's latest promotional offers Dude, I just heard some scoop from the Hut, ran one recent post). Wal-Mart started up and rapidly closed down a much-derided teenage site called The Hub last year. Reuters hopes to do better with its forthcoming site for those in the financial-services industry. Social networking has proved to be of greatest value to companies in recruitment. Unlike a simple jobs board, social networks enable members to pass suitable vacancies on to people they know, and to refer potential candidates back to the recruiter. So employers reach not only active jobseekers but also a much larger pool of passive candidates through referrals. LinkedIn has over 350 corporate customers which pay up to $250,000 each to advertise jobs to its expanding network. Having lots of people in a network increases its value in a super-linear fashion, says Reid Hoffman, LinkedIn's founder. He says corporate use of his service is now spreading beyond recruiters: hedge funds use it to identify and contact experts, for example. Jobster, a Seattle-based social-networking site, is entirely devoted to recruitment. Jobseekers can post their own profiles and tag their skills; these tags are then used to match candidates against jobs posted by employers. Unlike on LinkedIn, companies can set up private networks to ensure that the right kinds of people are alerted to openings and that the data they post remain under their control. Information needs to stay behind when a user leaves the company, argues Jason Goldberg, Jobster's founder. Where LinkedIn emphasises scale and Jobster emphasises specialisation, Visible Path, a startup based in New York, focuses on the strength of individual relationships. The firm analyses email traffic, calendars and diary entries to identify the strongest relationships that exist inside and outside a company. An obvious application is to generate leads: a salesman can use the service to identify who within his network has the closest links to a prospect, and request an introduction. Such techniques are also gathering momentum in knowledge management. IBM recently unveiled a social-software platform called Lotus Connections, due out in the next few weeks, that lets company employees post detailed profiles of themselves, team up on projects and share bookmarks. One manufacturer testing the software is using it to put in experienced members of its customer-services team in touch with the right engineers. It can also be used to identify in-house experts. Software firms will probably start bundling social features of this kind into all sorts of business software. To work well in the business world, social networking has to clear some big hurdles. Incentives to participate in a network have to be symmetrical, for one thing. The interests of MySpace members and of jobseekers and employers may be aligned, but it is not clear why commission-hungry salespeople would want to share their best leads with colleagues. Limiting the size of the network can reduce its value for companies, yet confidentiality is another obvious concern for companies that invite outsiders into their online communities. Social networking sounds great in theory, but the business benefits are still unproven, says Paul Jackson of Forrester, a consultancy. But if who you know really does matter more than what you know, it has obvious potential.

What is the author of the passage most likely to agree to?

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ASocial networking has benefited corporate sector to a large extent.

BSocial networking is not useful for corporate sector.

CSocial networking may benefit the corporate sector to some extent.

DNone of these

Answer: Option C

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 According to the author, how does social networking help recruitment?

ABy increasing the reach in a super-linear fashion.

BMaking available a larger pool of passive candidates.

CSince enthusiastic teenagers are also on the network.

DNone of these

Answer: Option B

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 Which of the following is an appropriate title for the passage?

ASocial Networking and Business

BSocial Networks

CEthics of Social Networking in Business

DSocial Networking: Pros and Cons

Answer: Option A

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 Which of the following statements is Reid Hoffman most likely to agree to?

ASocial network is only useful for recruiting.

BSocial networking has other uses apart from recruiting.

CSocial networking has not impacted business much.

DThe prime use of social networking is for Hedge funds.

Answer: Option B

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 What meaning of avid could you infer from the passage?

ADormant

BUnprincipled

CUnwanted

DEnthusiastic

Answer: Option D

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 What is the most probable context in which the author is talking about Pizza Hut?

ASocial networking did not benefit it.

BSocial networking was a big success for it.

CSocial networking created problems for it.

DNone of these

Answer: Option C

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 Why does the author call Lotus Connections a social software platform?

ABecause it is used for knowledge management.

BIt has a feature to allow employees to interact and cooperate with each other.

CBecause IBM developed it.

DBecause the service team can get in touch with the right engineers using it.

Answer: Option B

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 What are the hurdles that social networking has to overcome in order to benefit the business world?

AIssue of confidentiality.

BMisalignment of interests.

CMisalignment of interests and confidentiality.

DNone of these

Answer: Option C

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 The economic transformation of India is one of the great business stories of our time. As stifling government regulations have been lifted, entrepreneurship has flourished, and the country has become a high-powered center for information technology and pharmaceuticals. Indian companies like Infosys and Wipro are powerful global players, while Western firms like G.E. and I.B.M. now have major research facilities in India employing thousands. India's seemingly endless flow of young, motivated engineers, scientists, and managers offering developed-world skills at developing-world wages is held to be putting American jobs at risk, and the country is frequently heralded as the next economic superpower. But India has run into a surprising hitch on its way to superpower status: its inexhaustible supply of workers is becoming exhausted. Although India has one of the youngest workforce on the planet, the head of Infosys said recently that there was an acute shortage of skilled manpower, and a study by Hewitt Associates projects that this year salaries for skilled workers will rise fourteen and a half per cent, a sure sign that demand for skilled labor is outstripping supply.How is this possible in a country that every year produces two and a half million college graduates and four hundred thousand engineers? Start with the fact that just ten per cent of Indians get any kind of post-secondary education, compared with some fifty per cent who do in the U.S. Moreover, of that ten per cent, the vast majority go to one of India's seventeen thousand colleges, many of which are closer to community colleges than to four-year institutions. India does have more than three hundred universities, but a recent survey by the London Times Higher Education Supplement put only two of them among the top hundred in the world. Many Indian graduates therefore enter the workforce with a low level of skills. A current study led by Vivek Wadhwa, of Duke University, has found that if you define 'engineer' by U.S. standards, India produces just a hundred and seventy thousand engineers a year, not four hundred thousand. Infosys says that, of 1.3 million applicants for jobs last year, it found only two per cent acceptable.There was a time when many economists believed that post-secondary education didn't have much impact on economic growth. The really important educational gains, they thought, came from giving rudimentary skills to large numbers of people (which India still needs to doat least thirty per cent of the population is illiterate). They believed that, in economic terms, society got a very low rate of return on its investment in higher education. But lately that assumption has been overturned, and the social rate of return on investment in university education in India has been calculated at an impressive nine or ten per cent. In other words, every dollar India puts into higher education creates value for the economy as a whole. Yet India spends roughly three and a half per cent of its G.D.P. on education, significantly below the percentage spent by the U.S., even though India's population is much younger, and spending on education should be proportionately higher.The irony of the current situation is that India was once considered to be over educated. In the seventies, as its economy languished, it seemed to be a country with too many engineers and Ph.D.s working as clerks in government offices. Once the Indian business climate loosened up, though, that meant companies could tap a backlog of hundreds of thousands of eager, skilled workers at their disposal. Unfortunately, the educational system did not adjust to the new realities. Between 1985 and 1997, the number of teachers in India actually fell, while the percentage of students enrolled in high school or college rose more slowly than it did in the rest of the world. Even as the need for skilled workers was increasing, India was devoting relatively fewer resources to producing them.Since the Second World War, the countries that have made successful leaps from developing to developed status have all poured money, public and private, into education. South Korea now spends a higher percentage of its national income on education than nearly any other country in the world. Taiwan had a system of universal primary education before its phase of hyper growth began. And, more recently, Ireland's economic boom was spurred, in part, by an opening up and expansion of primary and secondary schools and increased funding for universities. Education will be all the more important for India's well-being; the earlier generation of so-called Asian Tigers depended heavily on manufacturing, but India's focus on services and technology will require a more skilled and educated workforce.India has taken tentative steps to remedy its skills famine the current government has made noises about doubling spending on education, and a host of new colleges and universities have sprung up since the mid-nineties. But India's impressive economic performance has made the problem seem less urgent than it actually is, and allowed the government to defer difficult choices. (In a country where more than three hundred million people live on a dollar a day, producing college graduates can seem like a low priority.) Ultimately, the Indian government has to pull off a very tough trick, making serious changes at a time when things seem to be going very well. It needs, in other words, a clear sense of everything that can still go wrong. The paradox of the Indian economy today is that the more certain its glowing future seems to be, the less likely that future becomes.

which of these could be inferred according to the passage?

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Awages in developing countries are less as compared to the developed countries

Bwages in developing countries are more as compared to the developed countries

Cmeaning of stifling from passage

DNone of these

Answer: Option A

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 according to passage why india does not have skilled labour?

Atotal amount of young population is low

Btotal number of colleges are insufficient

Cstudents do not want to study

Dmaximum universities and colleges do not match global standards

Answer: Option D

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