Principles of Management OA (WGU) Frequently Tested Exam Questions With Verified
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
An action that managers do to attain one or more of an
organization's goals, a detailed plan for achieving success Strategy
in situations
intentional, systematic, process of deciding what goals
and activities a person, group, work unit, organization
Planning
will purse in the future (the act of deciding how to do
something)
procedures organizations use in making decisions about
Define strategic planning
long-term goals and strategies.
Companies do the same thing when it comes to strategic
planning, they do an analysis to determine what is needed
to get where they are trying to go. First, where are we
trying to go, what's needed to get there and what is the
best way to get there or the most eflcient way to get there.
situational analysis, alternative goals and plans, goal plan
Name all of the steps in the strategic planning process (6) and evaluation, goal plan and selection, implementation,
monitor and control
this is a process that planners use to gather, interpret, and
summarize all information relevant to the planning issue
situational analysis (1)
in question (what the problem is and what are we trying
to solve).
the planning process should generate alternative goals
that could be pursued and the alternative plans that could
be used to achieve those goals (what are the possible alternative goals and plans (2)
outcomes, if solution A works, what problems could it
create?)
managers will evaluate the advantages, disadvantages,
and potential ettects of each goal and plan (if there is goal plan and evaluation (3)
another alternative, how do we go about doing that)
, Principles of Management OA (WGU) Frequently Tested Exam Questions With Verified
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
trying to select the best plan - making a choice (identify
goal plan and selection (4)
trade-otts and decide what to do)
once goals and plans are selected, they must be imple-
implementation (5)
mented to achieve the goals (frontline employees)
managers must continually monitor the actual perfor-
mance of their work against the goals and plans as well
monitor and control (6)
as develop control systems to measure that performance
(to ensure the company is making progress)
What are the three levels of planning hierarchy? strategic, tactical, and operational
What does the managerial level or leadership in an orga- employs or puts together the strategy to move the com-
nization do? pany forward
outlines the details of how they are going to accomplish
What does the tactical/middle management do?
the goal.
Operational side are? Employees that actually implement the plan
A process that involves managers from all parts of the
Strategic Management Process: organization in the formulation and implementation of
strategic goals and strategies.
1. Establish the mission, vision, goals
2. analysis of internal strength and weakness - external
opportunities and threats
Steps in strategic management process (5)
3. SWOT analysis and strategy formulation
4. strategy implementation
5. strategic control
, Principles of Management OA (WGU) Frequently Tested Exam Questions With Verified
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
basic purpose of the organization , what it does, for whom
it does it, and its basic good or service (what the company mission
is currently doing and how to achieve the vision)
provides a perspective on where the organization is head-
ed and what it can become (what is in front of us, what
vision
the company wants to be known for, end goal, ultimate
achievement, long-term goal)
targets or ends an organization wants to reach goals
Fulfilling goals ties into mission and vision as a company!
Explain the components of a SWOT analysis and how it is
used in the strategic planning process
Analyze where the company looks at themselves internally
What is the first thing you do before starting SWOT analy-
and looks at the world externally to determine how to
sis
move forward.
evaluation of the competitive environment and macroen-
vironment and everything external to the organization,
anything that might attect what the company is trying to external environment
do (industry and stakeholders are examined as well as
economic conditions and technological factors)
provides a view of the organization's existing functions,
skills, resources, and performance level (everything within internal environment
the organization such as financial status, statt capabilities).
Strengths and weaknesses = internal resources
, opportunities and threats external resources
SWOT: once managers have analyzed the external and
internal environments, they have the necessary informa-
tion to assess the organization's strengths, weaknesses,
opportunities, and threats (this can be done with an SWOT
analysis).
helps managers summarize important information from
the external and internal analyses. They can identify pri-
what does the SWOT help managers do ? mary and secondary issues and create a strategy to pursue
opportunities by capitalizing on strengths, neutralizing
weaknesses, and countering potential threats.
Explain what a Core Competency/Capability means for an
organization
Chapter 4- "Resources and Core Capabilities"
the combo of skills, knowledge, and resources that an
organization possesses which gives it an edge over the
core competency
competition, something a company does especially well
relative to its competitors
inputs into a system that can enhance performance resource
1. resources provide an advantage if they are instrumental
What 4 things make a company stand out from the rest in creating customer value
pertaining to resources 2. if resources are rare and not equally available to all
competitors
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
An action that managers do to attain one or more of an
organization's goals, a detailed plan for achieving success Strategy
in situations
intentional, systematic, process of deciding what goals
and activities a person, group, work unit, organization
Planning
will purse in the future (the act of deciding how to do
something)
procedures organizations use in making decisions about
Define strategic planning
long-term goals and strategies.
Companies do the same thing when it comes to strategic
planning, they do an analysis to determine what is needed
to get where they are trying to go. First, where are we
trying to go, what's needed to get there and what is the
best way to get there or the most eflcient way to get there.
situational analysis, alternative goals and plans, goal plan
Name all of the steps in the strategic planning process (6) and evaluation, goal plan and selection, implementation,
monitor and control
this is a process that planners use to gather, interpret, and
summarize all information relevant to the planning issue
situational analysis (1)
in question (what the problem is and what are we trying
to solve).
the planning process should generate alternative goals
that could be pursued and the alternative plans that could
be used to achieve those goals (what are the possible alternative goals and plans (2)
outcomes, if solution A works, what problems could it
create?)
managers will evaluate the advantages, disadvantages,
and potential ettects of each goal and plan (if there is goal plan and evaluation (3)
another alternative, how do we go about doing that)
, Principles of Management OA (WGU) Frequently Tested Exam Questions With Verified
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
trying to select the best plan - making a choice (identify
goal plan and selection (4)
trade-otts and decide what to do)
once goals and plans are selected, they must be imple-
implementation (5)
mented to achieve the goals (frontline employees)
managers must continually monitor the actual perfor-
mance of their work against the goals and plans as well
monitor and control (6)
as develop control systems to measure that performance
(to ensure the company is making progress)
What are the three levels of planning hierarchy? strategic, tactical, and operational
What does the managerial level or leadership in an orga- employs or puts together the strategy to move the com-
nization do? pany forward
outlines the details of how they are going to accomplish
What does the tactical/middle management do?
the goal.
Operational side are? Employees that actually implement the plan
A process that involves managers from all parts of the
Strategic Management Process: organization in the formulation and implementation of
strategic goals and strategies.
1. Establish the mission, vision, goals
2. analysis of internal strength and weakness - external
opportunities and threats
Steps in strategic management process (5)
3. SWOT analysis and strategy formulation
4. strategy implementation
5. strategic control
, Principles of Management OA (WGU) Frequently Tested Exam Questions With Verified
Multiple Choice and Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
basic purpose of the organization , what it does, for whom
it does it, and its basic good or service (what the company mission
is currently doing and how to achieve the vision)
provides a perspective on where the organization is head-
ed and what it can become (what is in front of us, what
vision
the company wants to be known for, end goal, ultimate
achievement, long-term goal)
targets or ends an organization wants to reach goals
Fulfilling goals ties into mission and vision as a company!
Explain the components of a SWOT analysis and how it is
used in the strategic planning process
Analyze where the company looks at themselves internally
What is the first thing you do before starting SWOT analy-
and looks at the world externally to determine how to
sis
move forward.
evaluation of the competitive environment and macroen-
vironment and everything external to the organization,
anything that might attect what the company is trying to external environment
do (industry and stakeholders are examined as well as
economic conditions and technological factors)
provides a view of the organization's existing functions,
skills, resources, and performance level (everything within internal environment
the organization such as financial status, statt capabilities).
Strengths and weaknesses = internal resources
, opportunities and threats external resources
SWOT: once managers have analyzed the external and
internal environments, they have the necessary informa-
tion to assess the organization's strengths, weaknesses,
opportunities, and threats (this can be done with an SWOT
analysis).
helps managers summarize important information from
the external and internal analyses. They can identify pri-
what does the SWOT help managers do ? mary and secondary issues and create a strategy to pursue
opportunities by capitalizing on strengths, neutralizing
weaknesses, and countering potential threats.
Explain what a Core Competency/Capability means for an
organization
Chapter 4- "Resources and Core Capabilities"
the combo of skills, knowledge, and resources that an
organization possesses which gives it an edge over the
core competency
competition, something a company does especially well
relative to its competitors
inputs into a system that can enhance performance resource
1. resources provide an advantage if they are instrumental
What 4 things make a company stand out from the rest in creating customer value
pertaining to resources 2. if resources are rare and not equally available to all
competitors
