C432 WGU Healthcare Management
and Strategy Exam Questions And
Outlined Answers
\Q\.Business-Level Strategy - ANSWERS✔-a plan that indicates how a division intends to
compete against its rivals in an industry
\Q\.Corporate-Level Strategy - ANSWERS✔-A plan that indicates in which industries and
national markets an organization intends to compete.
\Q\.Emergent-Strategy - ANSWERS✔-any unplanned strategic initiative bubbling up from the
bottom of the organization
\Q\.Functional-Level Strategy - ANSWERS✔-Strategic scope and direction at the operating
division, department, or project level. This type of strategy is driven by product or service line.
\Q\.Prospective Strategy - ANSWERS✔-A planning function that forecasts an organization's
future situation and designs means to guide an organization's future decisions.
\Q\.Industry - ANSWERS✔-A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
\Q\.Market Structure - ANSWERS✔-The organizational characteristics of a market that exert a
strategic influence on the intensity and form of competition.
,\Q\.Markets - ANSWERS✔-Places, systems, and processes through which buyers and sellers
exchange goods and services.
\Q\.Patient-Origin Study - ANSWERS✔-Data that describe the proportion and number of an
organization's customers (patients) who come from different geographic locations. This data can
be arrayed and graphed to display the provider's primary and secondary service areas.
\Q\.Perfect Competition - ANSWERS✔-One of the four basic types of market structures. Perfect
competition exits in markets composed of many small organizations that produce an
undifferentiated, homogeneous product.
\Q\.Societal Environment - ANSWERS✔-The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions, population demographics,
cultural values, governmental regulations, and technology.
\Q\.Broad Differentiation Strategy - ANSWERS✔-A type of strategy aimed at offering products
that consumers perceive to be distinct from competitors' products and that appeal to a wide
segment of a market.
\Q\.Broad Low-Cost Strategy - ANSWERS✔-A type of strategy aimed at providing low-cost
products to a broad customer segment.
\Q\.Business Model - ANSWERS✔-The underlying structure of an organization; the means
through which an organization creates and delivers value to its customers and earns revenues.
\Q\.Customer Value - ANSWERS✔-The perceived benefits of a product or service. Consumers
may find value in many aspects of products and services, including range and type, degree of
customization, availability and accessibility, and quality/cost trade-off.
, \Q\.Focused Differentiation Strategy - ANSWERS✔-A type of strategy aimed at offering products
that consumers perceive to be distinct from competitors' products and that appeal to a limited
industry niche or customer segment.
\Q\.Focused Low-Cost Strategy - ANSWERS✔-A type of strategy aimed at providing low-cost
products to a limited subset of the broad mass market.
\Q\.Generic Strategy - ANSWERS✔-Commonly used strategies that combine a target market (ex.
a small segment of a population) and a type of differentiation (ex. low cost).
\Q\.Inputs - ANSWERS✔-The combination, type, and mix of resources an organization uses to
provide a product or service, such as personnel; materials; and strategic assets such as facilities,
equipment, location, patents, networks, and partnerships.
\Q\.Middle Strategy - ANSWERS✔-A strategy that seeks to deliver low cost and differentiation
simultaneously.
\Q\.Portfolio Analysis - ANSWERS✔-A method of assessing an organization's products or SBUs
that considers various factors, including competitive position, profitability, growth, and mission
importance.
\Q\.Process - ANSWERS✔-A series of steps that transforms inputs into products/services
(outputs). Processes usually are established to organize functions and interface with external
entities.
\Q\.Profitability - ANSWERS✔-The degree to which the revenues generated by a product or
service exceed the costs of producing that product or service.
and Strategy Exam Questions And
Outlined Answers
\Q\.Business-Level Strategy - ANSWERS✔-a plan that indicates how a division intends to
compete against its rivals in an industry
\Q\.Corporate-Level Strategy - ANSWERS✔-A plan that indicates in which industries and
national markets an organization intends to compete.
\Q\.Emergent-Strategy - ANSWERS✔-any unplanned strategic initiative bubbling up from the
bottom of the organization
\Q\.Functional-Level Strategy - ANSWERS✔-Strategic scope and direction at the operating
division, department, or project level. This type of strategy is driven by product or service line.
\Q\.Prospective Strategy - ANSWERS✔-A planning function that forecasts an organization's
future situation and designs means to guide an organization's future decisions.
\Q\.Industry - ANSWERS✔-A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
\Q\.Market Structure - ANSWERS✔-The organizational characteristics of a market that exert a
strategic influence on the intensity and form of competition.
,\Q\.Markets - ANSWERS✔-Places, systems, and processes through which buyers and sellers
exchange goods and services.
\Q\.Patient-Origin Study - ANSWERS✔-Data that describe the proportion and number of an
organization's customers (patients) who come from different geographic locations. This data can
be arrayed and graphed to display the provider's primary and secondary service areas.
\Q\.Perfect Competition - ANSWERS✔-One of the four basic types of market structures. Perfect
competition exits in markets composed of many small organizations that produce an
undifferentiated, homogeneous product.
\Q\.Societal Environment - ANSWERS✔-The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions, population demographics,
cultural values, governmental regulations, and technology.
\Q\.Broad Differentiation Strategy - ANSWERS✔-A type of strategy aimed at offering products
that consumers perceive to be distinct from competitors' products and that appeal to a wide
segment of a market.
\Q\.Broad Low-Cost Strategy - ANSWERS✔-A type of strategy aimed at providing low-cost
products to a broad customer segment.
\Q\.Business Model - ANSWERS✔-The underlying structure of an organization; the means
through which an organization creates and delivers value to its customers and earns revenues.
\Q\.Customer Value - ANSWERS✔-The perceived benefits of a product or service. Consumers
may find value in many aspects of products and services, including range and type, degree of
customization, availability and accessibility, and quality/cost trade-off.
, \Q\.Focused Differentiation Strategy - ANSWERS✔-A type of strategy aimed at offering products
that consumers perceive to be distinct from competitors' products and that appeal to a limited
industry niche or customer segment.
\Q\.Focused Low-Cost Strategy - ANSWERS✔-A type of strategy aimed at providing low-cost
products to a limited subset of the broad mass market.
\Q\.Generic Strategy - ANSWERS✔-Commonly used strategies that combine a target market (ex.
a small segment of a population) and a type of differentiation (ex. low cost).
\Q\.Inputs - ANSWERS✔-The combination, type, and mix of resources an organization uses to
provide a product or service, such as personnel; materials; and strategic assets such as facilities,
equipment, location, patents, networks, and partnerships.
\Q\.Middle Strategy - ANSWERS✔-A strategy that seeks to deliver low cost and differentiation
simultaneously.
\Q\.Portfolio Analysis - ANSWERS✔-A method of assessing an organization's products or SBUs
that considers various factors, including competitive position, profitability, growth, and mission
importance.
\Q\.Process - ANSWERS✔-A series of steps that transforms inputs into products/services
(outputs). Processes usually are established to organize functions and interface with external
entities.
\Q\.Profitability - ANSWERS✔-The degree to which the revenues generated by a product or
service exceed the costs of producing that product or service.
