WGU C483-OA LATEST 2023-2024 EXAM 150
QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS)
|AGRADE
An entrepreneurial alliance between an innovator who has created at least one successful store and
wants to grow the business and a partner who manages a new store of the same type in a new location
is called?
A. outsourcing.
B. an intrapreneurial venture.
C. franchising.
D. bootlegging.
E. conglomerate diversification - ANSWER-C. franchising.
(Franchising is an entrepreneurial alliance between a franchisor (an innovator who has created at least
one successful store and wants to grow) and a franchisee (a partner who manages a new store of the
same type in a new location). The partnership is manifest in a trademark or brand, and together the
partners' mission is to maintain and build the brand.)
Which of the following is one of the five key factors that entrepreneurs are required to have thought
through?
A. policy
B. context
C. place
D. packaging
E. promotion - ANSWER-B. context
(The best plans convey—and make certain that the entrepreneurs have carefully thought through—five
key factors: the people, the opportunity, the competition, the context, and risk and reward.)
Tiyona Motors plans to introduce a fast, stylish car to its fleet that management hopes will appeal to
high-end buyers and grant Tiyona entry into the luxury market. Based on this scenario, what possible
outcome should Tiyona be prepared for?
A. The financial investment will be high, and the competition will be heavy.
,B. The financial investment will be low, and the competition will be minimal.
C. Other companies will run negative advertisements about their new car.
D. They will discover that they are the only company in this market.
E. The competition will be minimal, but the financial investment will be low. - ANSWER-A. The financial
investment will be high, and the competition will be heavy.
(Novel product ideas are accompanied by high risk because the financial investments are high and the
competition is great. A new drug or a new automobile would likely fall into this category.)
Which of the following is true about social entrepreneurship?
A. It creates economic value and social benefits simultaneously.
B. It is similar to corporate social responsibility.
C. Profit is the primary guiding principle.
D. It benefits the society but fails to provide economic value.
E. It focuses on social values alone in its decision making. - ANSWER-A. It creates economic value and
social benefits simultaneously.
(Social entrepreneurship is not charity, and it is different from corporate social responsibility. CSR is not
necessarily practiced with profit as a guiding principle, and corporations often relegate it to a side
activity. Social entrepreneurship fully incorporates social as well as economic value into mainstream
thinking and decision making. It provides dual, shared value: creating economic value plus social or
societal benefit simultaneously.)
Which of the following is a key difference between an entrepreneur and an intrapreneur?
A. An entrepreneur has less knowledge of business, whereas an intrapreneur is more knowledgeable.
B. An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate
support.
C. An entrepreneur has more knowledge of business, whereas an intrapreneur lacks business
knowledge.
D. An entrepreneur works longer and harder, whereas an intrapreneur is laid-back and easygoing.
E. An entrepreneur makes use of corporate resources, whereas an intrapreneur does not. - ANSWER-B.
An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate
support.
(Entrepreneurs are individuals who establish a new organization without the benefit of corporate
support. Intrapreneurs are new venture creators working inside big companies; they are corporate
,entrepreneurs, using their company's resources to build a profitable line of business based on a fresh
new idea)
________ is the first step in the delegation process?
A. Assigning authority
B. Defining the goal
C. Benchmarking
D. Analyzing the process
E. Selecting a candidate - ANSWER-B. Defining the goal
(The first step in the delegation process—defining the goal—requires the manager to have a clear
understanding of the outcome he or she wants.)
As a marketing representative for the Jenner & Parris Company in the state of Georgia, Denise has two
immediate supervisors, one in the company's marketing department and another in its southeastern
division. Jenner & Parris is most likely a ________ organization.
A. matrix
B. product
C. divisional
D. regional
E. functional - ANSWER-A. matrix
(A matrix organization is a hybrid form of organization in which functional and divisional forms overlap.
Managers and staff personnel report to two bosses—a functional manager and a divisional manager)
Authority is defined as the?
A. assignment of a task that an employee is supposed to carry out
B. legitimate right to make decisions and to tell people what to do.
C. assignment of additional responsibility to a direct report at a lower level.
D. narration of a set of predicted future conditions.
E. expectation that employees will perform a job and report the status of their performance. - ANSWER-
B. legitimate right to make decisions and to tell people what to do.
, (At the most fundamental level, the functioning of every organization depends on the use of authority,
the legitimate right to make decisions and to tell other people what to do. Traditionally, authority
resides in positions rather than in people.)
For years, the Atlantic Tool Company maintained all operations—purchasing, marketing, etc.—in its
Charlotte, North Carolina, headquarters. However, as a result of sustained growth in the company's
market, Atlantic has established facilities in three other cities. Each of these has its own purchasing and
marketing departments, and each oversees its respective region of the country. In other words, Atlantic
has changed from a ________ structure.
A. functional to a vertical
B. divisional to a matrix
C. divisional to a functional
D. functional to a matrix
E. functional to a divisional - ANSWER-E. functional to a divisional
(As organizations grow and become increasingly diversified, they find that functional departments have
difficulty managing a wide variety of products, customers, and geographic regions. In this case,
organizations may restructure to group all functions into a single division and duplicate each of the
functions across all the divisions, resulting in divisional departmentalization.)
Nikki Bowles, recently promoted to a frontline management position, quickly learned that her manager,
Tim Davis, would often delegate decision making to her. Tim told her, "I want you to make as many
decisions at your level as possible, because
A. you deal directly with problems and opportunities and thus have the most relevant information."
B. you are least likely to foresee the consequences of the decisions."
C. you are least likely to be directly affected by the issue."
D. you have the least relevant knowledge about the work."
E. our business environment is fast-paced, thus allowing decision making to be made slowly." - ANSWER-
A. you deal directly with problems and opportunities and thus have the most relevant information."
(Ideally, decision making occurs at the level of the people who are most directly affected and have the
most relevant knowledge about the work. This is particularly important when the business environment
is fast-changing and decisions must be made quickly and well. Most American executives today
understand the advantages of pushing decision-making authority down to the point of the action. The
level that deals directly with problems and opportunities has the most relevant information and can best
foresee the consequences of decisions. Executives also know that the decentralized approach allows
people to take faster action.)
