WGU C201 BUSINESS ACUMEN/ACTUAL EXAM 58 QUESTIONS AND
100% COMPLETE SOLUTION/A+GRADE GUARANTEED
What are the 6 reasons control is needed - ANSWER/1. adapt to change and unceranty
2. To discover irregularities and errors
3. to reduce cost, increase productivity
4. Detect opportunities and increase innovation
5. to provide performance feedback
6. to decentralize decision making and facilitate team work
What should managers control - ANSWER/financial performance, customer outcomes,
internal business processes, and employee outcomes.
strategy map - ANSWER/a strategy map is a visual representation of the relationship
among the four key components of organizational performance
What four questions do successful companies incorporate - ANSWER/1. what does
success look like to our shareholders?
2. How do we appear to our customers?
3. What must we do extremely well?
4. Are we equipped for continued value and improvement
Who created the balanced scorecard? - ANSWER/Robert Kaplan and David Norton
What four factors does the score card tell you? - ANSWER/1. financial metrics
2. customer metrics
3. internal-business process
4. metrics associated with innovation and learning
What do growth goals focus on - ANSWER/increasing revenue from both new and
existing customers
budget - ANSWER/A budget is a form of a financial project
incremental budgeting - ANSWER/allocates increased or decreased funds to a
department by using the last budget period as a reference point
Fixed budget - ANSWER/allocates resources on the basis of a single estimate of costs
variable budgets - ANSWER/allows the allocation of resources to vary in proportion with
various levels of activity
financial statements - ANSWER/a summary of some aspect of an organization's
financial status
balance sheet - ANSWER/summarizes an organizations overall financial worth
100% COMPLETE SOLUTION/A+GRADE GUARANTEED
What are the 6 reasons control is needed - ANSWER/1. adapt to change and unceranty
2. To discover irregularities and errors
3. to reduce cost, increase productivity
4. Detect opportunities and increase innovation
5. to provide performance feedback
6. to decentralize decision making and facilitate team work
What should managers control - ANSWER/financial performance, customer outcomes,
internal business processes, and employee outcomes.
strategy map - ANSWER/a strategy map is a visual representation of the relationship
among the four key components of organizational performance
What four questions do successful companies incorporate - ANSWER/1. what does
success look like to our shareholders?
2. How do we appear to our customers?
3. What must we do extremely well?
4. Are we equipped for continued value and improvement
Who created the balanced scorecard? - ANSWER/Robert Kaplan and David Norton
What four factors does the score card tell you? - ANSWER/1. financial metrics
2. customer metrics
3. internal-business process
4. metrics associated with innovation and learning
What do growth goals focus on - ANSWER/increasing revenue from both new and
existing customers
budget - ANSWER/A budget is a form of a financial project
incremental budgeting - ANSWER/allocates increased or decreased funds to a
department by using the last budget period as a reference point
Fixed budget - ANSWER/allocates resources on the basis of a single estimate of costs
variable budgets - ANSWER/allows the allocation of resources to vary in proportion with
various levels of activity
financial statements - ANSWER/a summary of some aspect of an organization's
financial status
balance sheet - ANSWER/summarizes an organizations overall financial worth
