C483 -WGU Principles of Management
2021 (Full) Final Exam Questions with
Guaranteed Pass Solutions.
Conceptual and decision skills - Answer Skills pertaining to the ability to identify and resolve
problems for the benefit of the organization and its members.
Controlling - Answer The management function of monitoring performance and making
needed changes.
Cost competitiveness - Answer Keeping costs low to achieve profits and be able to offer
prices that are attractive to consumers.
Emotional intelligence - Answer The skills of understanding yourself, managing yourself, and
dealing effectively with others.
Frontline managers - Answer Lower-level managers who supervise the operational activities
of the organization.
Innovation - Answer The introduction of new goods and services.
Interpersonal and communication skills - Answer People skills; the ability to lead, motivate,
and communicate effectively with others.
Knowledge management - Answer Practices aimed at discovering and harnessing an
organization's intellectual resources.
Leading - Answer The management function that involves the manager's efforts to stimulate
high performance by employees.
Management - Answer The process of working with people and resources to accomplish
organizational goals.
Middle-level managers - Answer Managers located in the middle layers of the organizational
hierarchy, reporting to top-level executives.
Organizing - Answer The management function of assembling and coordinating human,
financial, physical, informational, and other resources needed to achieve goals.
,Planning - Answer The management function of systematically making decisions about the
goals and activities that an individual, a group, a work unit, or the overall organization will
pursue.
Quality - Answer The excellence of your product (goods or services).
Service - Answer the speed and dependability with which an organization delivers what
customers want.
Social capital - Answer Goodwill stemming from your social relationships.
Speed - Answer Fast and timely execution, response, and delivery of results.
Sustainability - Answer The effort to minimize the use of resources, especially those that are
not polluting and nonrenewable.
Technical skill - Answer The ability to perform a specialized task involving a particular
method or process.
Top-level managers - Answer Senior executives responsible for the overall management and
effectiveness of the organization.
Value - Answer The monetary amount associated with how well a job, task, good, or service
meets the user's needs.
Barriers to entry - Answer Conditions that prevent new companies from entering an industry
Benchmarking - Answer The process of comparing an organization's practices and
technologies with those of other companies
Buffering - Answer Creating supplies of excess resources in case of unpredictable needs
Competitive environment - Answer The immediate environment surrounding a firm; includes
suppliers, customers, rivals, and the like
Competitive intelligence - Answer Information that helps managers determine how to
compete better
,Cooperative strategies - Answer Strategies used by two or more working organizations
working together to manage the external environment
Defenders - Answer Companies that stay within a stable product domain as a strategic
maneuver
Demographics - Answer Measures of various characteristics of the people who make up
groups or other social units
Diversification - Answer A firm's investment in a different product, business, or geographic
area
Divestiture - Answer A firm selling one or more businesses
Domain selection - Answer Entering a new market or industry with an existing expertise
Empowerment - Answer The process of sharing power with employees, thereby enhancing
their confidence in their ability to perform their jobs and their belief that they are influential
contributors to the organization
Environmental scanning - Answer Searching for and sorting through information about the
environment
Environmental uncertainty - Answer Lack of information needed to understand or predict
the future
External environment - Answer All relevant forces outside a firm's boundaries, such as
competitors, customers, the government, and the economy
Final consumer - Answer Those who purchase products in their finished form
Flexible processes - Answer Methods for adapting the technical core to changes in the
environment
Forecasting - Answer Method for predicting how variables will change the future
, Independent strategies - Answer Strategies that an organization acting on its own uses to
change some aspect of its current environment
Inputs - Answer Goods and services organizations take in and use to create products or
services
Intermediate consumer - Answer A customer who purchases raw materials or wholesale
products before selling them to final customers
Macroenvironment - Answer The general environment; includes governments, economic
conditions, and other fundamental factors that generally affect all organizations
Merger - Answer One or more companies combining with another
Open systems - Answer Organizations that are affected by, and that affect, their environment
Organizational climate - Answer The patterns of attitudes and behavior that shape people's
experience of an organization
Organization culture - Answer The set of important assumptions about the organization and
its goals and practices that members of the company share
Outputs - Answer The products and services organizations create
Prospectors - Answer Companies that continually change the boundaries for their task
environments by seeking new products and markets, diversifying and merging, or acquiring new
enterprises
Scenario - Answer A narrative that describes a particular set of future conditions
Smoothing - Answer Leveling normal fluctuations at the boundaries of the environment
Strategic maneuvering - Answer An organization's conscious efforts to change the
boundaries of its task environment
Supply chain management - Answer The managing of the network of facilities and people
that obtain materials from outside the organization, transform them into products, and
distribute them to customers
2021 (Full) Final Exam Questions with
Guaranteed Pass Solutions.
Conceptual and decision skills - Answer Skills pertaining to the ability to identify and resolve
problems for the benefit of the organization and its members.
Controlling - Answer The management function of monitoring performance and making
needed changes.
Cost competitiveness - Answer Keeping costs low to achieve profits and be able to offer
prices that are attractive to consumers.
Emotional intelligence - Answer The skills of understanding yourself, managing yourself, and
dealing effectively with others.
Frontline managers - Answer Lower-level managers who supervise the operational activities
of the organization.
Innovation - Answer The introduction of new goods and services.
Interpersonal and communication skills - Answer People skills; the ability to lead, motivate,
and communicate effectively with others.
Knowledge management - Answer Practices aimed at discovering and harnessing an
organization's intellectual resources.
Leading - Answer The management function that involves the manager's efforts to stimulate
high performance by employees.
Management - Answer The process of working with people and resources to accomplish
organizational goals.
Middle-level managers - Answer Managers located in the middle layers of the organizational
hierarchy, reporting to top-level executives.
Organizing - Answer The management function of assembling and coordinating human,
financial, physical, informational, and other resources needed to achieve goals.
,Planning - Answer The management function of systematically making decisions about the
goals and activities that an individual, a group, a work unit, or the overall organization will
pursue.
Quality - Answer The excellence of your product (goods or services).
Service - Answer the speed and dependability with which an organization delivers what
customers want.
Social capital - Answer Goodwill stemming from your social relationships.
Speed - Answer Fast and timely execution, response, and delivery of results.
Sustainability - Answer The effort to minimize the use of resources, especially those that are
not polluting and nonrenewable.
Technical skill - Answer The ability to perform a specialized task involving a particular
method or process.
Top-level managers - Answer Senior executives responsible for the overall management and
effectiveness of the organization.
Value - Answer The monetary amount associated with how well a job, task, good, or service
meets the user's needs.
Barriers to entry - Answer Conditions that prevent new companies from entering an industry
Benchmarking - Answer The process of comparing an organization's practices and
technologies with those of other companies
Buffering - Answer Creating supplies of excess resources in case of unpredictable needs
Competitive environment - Answer The immediate environment surrounding a firm; includes
suppliers, customers, rivals, and the like
Competitive intelligence - Answer Information that helps managers determine how to
compete better
,Cooperative strategies - Answer Strategies used by two or more working organizations
working together to manage the external environment
Defenders - Answer Companies that stay within a stable product domain as a strategic
maneuver
Demographics - Answer Measures of various characteristics of the people who make up
groups or other social units
Diversification - Answer A firm's investment in a different product, business, or geographic
area
Divestiture - Answer A firm selling one or more businesses
Domain selection - Answer Entering a new market or industry with an existing expertise
Empowerment - Answer The process of sharing power with employees, thereby enhancing
their confidence in their ability to perform their jobs and their belief that they are influential
contributors to the organization
Environmental scanning - Answer Searching for and sorting through information about the
environment
Environmental uncertainty - Answer Lack of information needed to understand or predict
the future
External environment - Answer All relevant forces outside a firm's boundaries, such as
competitors, customers, the government, and the economy
Final consumer - Answer Those who purchase products in their finished form
Flexible processes - Answer Methods for adapting the technical core to changes in the
environment
Forecasting - Answer Method for predicting how variables will change the future
, Independent strategies - Answer Strategies that an organization acting on its own uses to
change some aspect of its current environment
Inputs - Answer Goods and services organizations take in and use to create products or
services
Intermediate consumer - Answer A customer who purchases raw materials or wholesale
products before selling them to final customers
Macroenvironment - Answer The general environment; includes governments, economic
conditions, and other fundamental factors that generally affect all organizations
Merger - Answer One or more companies combining with another
Open systems - Answer Organizations that are affected by, and that affect, their environment
Organizational climate - Answer The patterns of attitudes and behavior that shape people's
experience of an organization
Organization culture - Answer The set of important assumptions about the organization and
its goals and practices that members of the company share
Outputs - Answer The products and services organizations create
Prospectors - Answer Companies that continually change the boundaries for their task
environments by seeking new products and markets, diversifying and merging, or acquiring new
enterprises
Scenario - Answer A narrative that describes a particular set of future conditions
Smoothing - Answer Leveling normal fluctuations at the boundaries of the environment
Strategic maneuvering - Answer An organization's conscious efforts to change the
boundaries of its task environment
Supply chain management - Answer The managing of the network of facilities and people
that obtain materials from outside the organization, transform them into products, and
distribute them to customers
