Test Prep - WGU - Principles of
Management - C483 Final Exam
Questions and All Correct Answers.
Delivery of products or services - Answer 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. - Answer 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 - Answer 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
,Weaknesses
Opportunities
Core competencies - Answer 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. - Answer 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 - Answer 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 - Answer 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.
, Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision - Answer 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
Developing a strategic mission - Answer What is the first step of organizational strategic
planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
Six Sigma - Answer The introduction of statistical tools to analyze the causes of product
defects is associated with which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
Management - C483 Final Exam
Questions and All Correct Answers.
Delivery of products or services - Answer 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. - Answer 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 - Answer 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
,Weaknesses
Opportunities
Core competencies - Answer 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. - Answer 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 - Answer 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 - Answer 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.
, Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision - Answer 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
Developing a strategic mission - Answer What is the first step of organizational strategic
planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
Six Sigma - Answer The introduction of statistical tools to analyze the causes of product
defects is associated with which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
