WGU-C483- Principles of
Management FINAL EXAM GUIDE
WITH ALL CORRECT ANSWERS
VERIFIED AND GRADED A+
Delivery of products or services
A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with?
Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services
Profit margins are increased.
What happens when an effective value chain is created?
Choose 1 answer
Profit margins are increased.
,A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
Analysis of external opportunities and threats
Industry and market analysis, competitor analysis, and social analysis are
examples of which step in the strategic planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
Strengths
Skilled management, positive cash flow, and well-known brands are
examples of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies
What denotes skills or expertise in an activity that constitutes the roots of
competitiveness in an organization?
Choose 1 answer
,Strategic values
Core competencies
Products and services
Opportunities and threats
Suppliers can reduce manufacturing time and increase product
quality.
According to Michael Porter's competitive environment model, how can
suppliers influence strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product
quality.
Suppliers can reduce technological, demographic, and legal threats in the
environment.
Differentiation
A company offers unique products in its industry to create a competitive
advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
, Vertical integration
Happy Inc. is a leading provider of family entertainment and BCD is a
broadcasting company with news, cable, and entertainment networks. Happy
Inc. recently acquired BCD in hopes of boosting its primary business of family
entertainment.
Which type of corporate strategy is represented by Happy Inc.'s purchase of
their distribution network?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision
A local business has provided services to its customers for 40 years. The
business's mission is "To give our customers the best service in town." The
owner of the business has had a long-standing dream to franchise the
business and become the best provider of its service in the United States.
What describes the owner's dream?
Choose 1 answer
Strategic vision
Strategic mission
Management FINAL EXAM GUIDE
WITH ALL CORRECT ANSWERS
VERIFIED AND GRADED A+
Delivery of products or services
A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with?
Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services
Profit margins are increased.
What happens when an effective value chain is created?
Choose 1 answer
Profit margins are increased.
,A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
Analysis of external opportunities and threats
Industry and market analysis, competitor analysis, and social analysis are
examples of which step in the strategic planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
Strengths
Skilled management, positive cash flow, and well-known brands are
examples of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies
What denotes skills or expertise in an activity that constitutes the roots of
competitiveness in an organization?
Choose 1 answer
,Strategic values
Core competencies
Products and services
Opportunities and threats
Suppliers can reduce manufacturing time and increase product
quality.
According to Michael Porter's competitive environment model, how can
suppliers influence strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product
quality.
Suppliers can reduce technological, demographic, and legal threats in the
environment.
Differentiation
A company offers unique products in its industry to create a competitive
advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
, Vertical integration
Happy Inc. is a leading provider of family entertainment and BCD is a
broadcasting company with news, cable, and entertainment networks. Happy
Inc. recently acquired BCD in hopes of boosting its primary business of family
entertainment.
Which type of corporate strategy is represented by Happy Inc.'s purchase of
their distribution network?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision
A local business has provided services to its customers for 40 years. The
business's mission is "To give our customers the best service in town." The
owner of the business has had a long-standing dream to franchise the
business and become the best provider of its service in the United States.
What describes the owner's dream?
Choose 1 answer
Strategic vision
Strategic mission
