Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
1. Delivery of prod- A value chain is the sequence of activities that begins with raw materials.
ucts or services
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
2. Profit margins What happens when an effective value chain is created?
are increased.
Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
3. Analysis of exter- Industry and market analysis, competitor analysis, and social analysis are exam-
nal opportunities ples of which step in the strategic planning process?
and threats Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
4. Strengths Skilled management, positive cash flow, and well-known brands are examples of
which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5.
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Core competen- What denotes skills or expertise in an activity that constitutes the roots of compet-
cies itiveness in an organization?
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can re- According to Michael Porter's competitive environment model, how can suppliers
duce manufac- influence strategic planning?
turing time and Suppliers can reduce the threat from substitute products.
increase product Suppliers can reduce the numbers of new entrants in the market.
quality. Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the envi-
ronment.
7. Differentiation A company offers unique products in its industry to create a competitive advan-
tage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
8. Vertical integra- Happy Inc. is a leading provider of family entertainment and BCD is a broadcasting
tion 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?
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
9. 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
Strategic planning
Strategic management
10. Developing a What is the first step of organizational strategic planning?
strategic mission
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
11. Six Sigma The introduction of statistical tools to analyze the causes of product defects is
associated with which quality improvement approach?
Six Sigma
Flexible Process
Study online at https://quizlet.com/_3lomtm
1. Delivery of prod- A value chain is the sequence of activities that begins with raw materials.
ucts or services
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
2. Profit margins What happens when an effective value chain is created?
are increased.
Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
3. Analysis of exter- Industry and market analysis, competitor analysis, and social analysis are exam-
nal opportunities ples of which step in the strategic planning process?
and threats Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
4. Strengths Skilled management, positive cash flow, and well-known brands are examples of
which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5.
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Core competen- What denotes skills or expertise in an activity that constitutes the roots of compet-
cies itiveness in an organization?
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can re- According to Michael Porter's competitive environment model, how can suppliers
duce manufac- influence strategic planning?
turing time and Suppliers can reduce the threat from substitute products.
increase product Suppliers can reduce the numbers of new entrants in the market.
quality. Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the envi-
ronment.
7. Differentiation A company offers unique products in its industry to create a competitive advan-
tage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
8. Vertical integra- Happy Inc. is a leading provider of family entertainment and BCD is a broadcasting
tion 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?
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
9. 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
Strategic planning
Strategic management
10. Developing a What is the first step of organizational strategic planning?
strategic mission
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
11. Six Sigma The introduction of statistical tools to analyze the causes of product defects is
associated with which quality improvement approach?
Six Sigma
Flexible Process
