C483 WGU Principles of Management
Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. What is Dr. Ohmae's strategic triangle? - ANSWER
2. Define Dr. Ohmae's strategic triangle - ANSWER Managers need to
balance triangle and successful organizations use their strengths to create
value by meeting customer requirements better than competitors do.
3. Define Reengineering - ANSWER The principle idea of reeingeering is to
revolutionize key organizational systems and processes to answer this
question: "If you were the customer, how wouldyou like us to operate?"
- The answer is to form a vision for how the organization should run
and then decisions are made and actions are taken to make
organization operate like the vision. Processes such as product
development, order fullfillment, customer service, inventory
management, billing, and production are redesigned from scratch as
if the organization were brand new and just starting out.
4. Describe how organizations use reengineering - ANSWER it cuts costs.
,often requires a fundamental change iin the way the parts of the organization
work together.
ex: P&G tour down and rebuilt every activity that contributed to its high costs.
5. Entrepreneurial Strategy Matrix - ANSWER
6. How is the entrepreneurial strategy matrix use? - ANSWER to help
entrepreneurs think about their ventures and decide whether they suit
their particular objectives. it helps identify effective and ineffective
strategies.
it can also help entrepreneurs remember a useful point: successful companies
do not always require a cutting-edge techonology or an exciting new product.
even companies offering the most mundane products-- the type that might
reside in the lower-left cell--- can gain competitive advantage by doing basic
things differently from and better than competitors
7. Identify the common characteristics that entrepreneurs possess - ANSWER
commitment and determination; leadership; opportunity; tolerance of
risk, ambiguity, uncertainty; creativity; self-reliance; and adbility to adapt;
motivation to excel
8. Describe the common reasons behind entrepreneurial success and failure -
ANSWER 1. Risk: know the risk and anticipate setbacks
2. The role of the economic enviroment: economic cycles quickly change
3. Funds must be used appropriately
4. Records must be kept accurately
, 5. Do not neglect
6. Mortality and succession: the founder must have someone to take over after
them that has experience and knowledge
9. Identify common ways in which entrepreneurs finance their ventures -
ANSWER 1. Going public: initialy public stock offerings, (IPOs) offers
ways to raise capital through federally registered and underwritten sales of
shares in the company
2. Loans from family friends credits and banks
3. Owner's savings
4. Investors: capitals and firms or others
10.How can entrepreneurs increase their chances of success in planning their
venture? - ANSWER 1. Having a business plan
2. Selling your plan: get investors to to support your plan
3. Legitimacy: peoples judgement and accpetance
4. network of supporters
5. top management teams: company image, support day to day activities,
develop network of sources
6. advisory board
7. partners
11.what is intrapreneurship? - ANSWER "in-house" entrepreneurs in a large
corportates that are looking to try and find new profitable ideas
Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. What is Dr. Ohmae's strategic triangle? - ANSWER
2. Define Dr. Ohmae's strategic triangle - ANSWER Managers need to
balance triangle and successful organizations use their strengths to create
value by meeting customer requirements better than competitors do.
3. Define Reengineering - ANSWER The principle idea of reeingeering is to
revolutionize key organizational systems and processes to answer this
question: "If you were the customer, how wouldyou like us to operate?"
- The answer is to form a vision for how the organization should run
and then decisions are made and actions are taken to make
organization operate like the vision. Processes such as product
development, order fullfillment, customer service, inventory
management, billing, and production are redesigned from scratch as
if the organization were brand new and just starting out.
4. Describe how organizations use reengineering - ANSWER it cuts costs.
,often requires a fundamental change iin the way the parts of the organization
work together.
ex: P&G tour down and rebuilt every activity that contributed to its high costs.
5. Entrepreneurial Strategy Matrix - ANSWER
6. How is the entrepreneurial strategy matrix use? - ANSWER to help
entrepreneurs think about their ventures and decide whether they suit
their particular objectives. it helps identify effective and ineffective
strategies.
it can also help entrepreneurs remember a useful point: successful companies
do not always require a cutting-edge techonology or an exciting new product.
even companies offering the most mundane products-- the type that might
reside in the lower-left cell--- can gain competitive advantage by doing basic
things differently from and better than competitors
7. Identify the common characteristics that entrepreneurs possess - ANSWER
commitment and determination; leadership; opportunity; tolerance of
risk, ambiguity, uncertainty; creativity; self-reliance; and adbility to adapt;
motivation to excel
8. Describe the common reasons behind entrepreneurial success and failure -
ANSWER 1. Risk: know the risk and anticipate setbacks
2. The role of the economic enviroment: economic cycles quickly change
3. Funds must be used appropriately
4. Records must be kept accurately
, 5. Do not neglect
6. Mortality and succession: the founder must have someone to take over after
them that has experience and knowledge
9. Identify common ways in which entrepreneurs finance their ventures -
ANSWER 1. Going public: initialy public stock offerings, (IPOs) offers
ways to raise capital through federally registered and underwritten sales of
shares in the company
2. Loans from family friends credits and banks
3. Owner's savings
4. Investors: capitals and firms or others
10.How can entrepreneurs increase their chances of success in planning their
venture? - ANSWER 1. Having a business plan
2. Selling your plan: get investors to to support your plan
3. Legitimacy: peoples judgement and accpetance
4. network of supporters
5. top management teams: company image, support day to day activities,
develop network of sources
6. advisory board
7. partners
11.what is intrapreneurship? - ANSWER "in-house" entrepreneurs in a large
corportates that are looking to try and find new profitable ideas
