Sales/Collection Business Process Quiz

Which of the following is an example of an instigation event in the sales/collection process?

What is the purpose of a customer inquiry event in the sales/collection process?

Who typically initiates an externally instigated instigation event in the sales/collection process?

Is it necessary to specifically identify a good or service for purposes of instigation events in the sales/collection process?

What is the difference between internally instigated and externally instigated instigation events in the sales/collection process?

Sales/Collection Process Events in Enterprise Value Chains

The sales/collection business process is part of the overall enterprise value system.
This process is also a part of the enterprise value chains, which involve the flow of goods, services, and information.
The sales/collection process follows the REA (Resources, Events, Agents) model.
Instigation events are the triggers for the sales/collection process.
Instigation events can be internally or externally initiated.
Internally instigated events can include sales calls, advertising campaigns, or promotions.
Externally instigated events are usually customer inquiries.
Internal agents, such as sales/marketing personnel or customer service representatives, can initiate instigation events.
External agents in the sales/collection process are the customers themselves.
Instigation events do not require a specific identification of the goods or services being promoted; information about the type of good or service is usually sufficient.
Customer inquiry events are externally initiated instigation events.
Customer inquiries involve customers contacting the enterprise to inquire about pricing and availability of products or services.

Test your knowledge on the Sales/Collection Business Process in an Enterprise Value System with this quiz. Explore topics such as instigation events in the revenue cycle and externally instigated marketing events. Challenge yourself and enhance your understanding of this important business process.