WGU C483 - Principles of Management - Test Prep EXAM QUESTION AND ANSWER LATEST 2024(A+ SCORE)
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Course
WGU C483
Institution
WGU C483
WGU C483 - Principles of Management - Test Prep EXAM QUESTION AND ANSWER LATEST 2024(A+ SCORE)
QUESTION 1
A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with?
WGU C483 - Principles of Management - Test Prep EXAM
QUESTION AND ANSWER LATEST 2024(A+ SCORE)
QUESTION 1
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
QUESTION 2
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.
QUESTION 3
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
WGU C483 - Principles of Management - Test Prep
,Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
QUESTION 4
Skilled management, positive cash flow, and well-known brands are examples of which component of
the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
QUESTION 5
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
QUESTION 6
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.
WGU C483 - Principles of Management - Test Prep
,QUESTION 7
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
QUESTION 8
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.
Which type of corporate strategy is represented by Happy Inc.'s purchase of their distribution
network?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
QUESTION 9
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?
WGU C483 - Principles of Management - Test Prep
, Choose 1 answer
Strategic vision
Strategic mission
Strategic planning
Strategic management
QUESTION 10
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
QUESTION 11
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
Quality Customization
QUESTION 12
What is the principal idea of reengineering?
Choose 1 answer
To analyze system failures
To focus on creating two-way exchanges with customers
WGU C483 - Principles of Management - Test Prep
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