WGU C483 Principles of Management
Practice Questions and Answers 100%
Pass
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
why would an entrepreneurial business choose to use its own resources versus seeking outside
resources in financing a business venture ✔✔to maintain control...
Practice Questions and Answers 100%
Pass
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
why would an entrepreneurial business choose to use its own resources versus seeking outside
resources in financing a business venture ✔✔to maintain control...
