(BOOST YOUR GRADES FOR 2024 EXAMS). Principles of Management Practice Questions C483 WGU. Questions and answers, Graded A+

Principles of Management Practice Questions C483 WGU. Questions and answers, Graded A+ A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? - -delivery of products and services what happens when an effective value chain is created - -profit margins are increased industry and market, competitor analysis, and social analysis are examples of which step in strategic planning process - -analysis of exteral opportunities and threats skilled management, positive cash flow, and well known brands are examples of which component of the SWOT analysis - -strengths what denotes skill or expertise in an activity that constitutes the roots of competitiveness in an organization - -core competencies according to michael porters competitive environment model, how can suppliers influence strategic planning - -uppliers can reduce manufacturing time and increase product quality a company offers unique products in its industry to create a competitive advantage. which type of strategy is the company using - -customization 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 - -vertical integration what is the first step of organizational strategic planning? - -developing internal strengths 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 services in the united states. what describes the owners dream? - -strategic planning the introduction of statistical tools to analyze the causes of product defects is associated with which quality improvement approach? - -six sigma what is the principal idea of reengineering - -to revolutionize key organizational systems and processes what designates those who take hands-on responsibility for creating innovation such as new ideas, products or methods within an organization - -intrapreneuer how many defects per million are there at six sigma, assuming a product or process is defect free 99.9999966% of the time? - -3.4 defects per million why is innovation an important element of entrepreneurship - -creates unique and different prioducts and services... a company is trying to systematically improve processes by eliminating noncomformity of their products to product specifications. the company believes their continuous effort to reduce variation in their process outputs is key to their business success - -six sigma