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WGU C201 BUSINESS ACUMEN EXAM ANSWERED CORRECTLY!!!
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WGU C201 BUSINESS ACUMEN EXAM ANSWERED CORRECTLY!!!
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WGU C201 BUSINESS ACUMEN EXAMANSWERED CORRECTLY!!!
What is Management? CORRECT ANSWERS Management is the process of achieving
Organizational objectives through people and other resources. The Manager's job is to
combine Human and Technical resources in the best way possible to achieve the
company's goals.
How do the jobs of top managers, middle managers, and supervisory managers differ?
CORRECT ANSWERS Top managers design long term plans, set a direction for their
organization and inspire all employees to achieve the company's vision. Middle
managers focus on the specific mission and operations, products, or customers. They
develop procedures to implement the company's strategic plans. Supervisory interact
directly with non-management employees, who produce and sell the companies goods
and services. They are responsible for implementing the plans developed by middle
managers and motivating workers to accomplish daily, weekly, and monthly goals.
What is the relationship between the managers planning and controlling functions?
CORRECT ANSWERS Controlling assess the success of the planning function.
Controlling also produces feedback for the next round of planning.
What is meant by a vision for the company? CORRECT ANSWERS A vision serves as
a target for the company's actions, helping direct the company towards opportunities
and differentiating it from its competitors.
Why is it important for a top executive to set high ethical standards? CORRECT
ANSWERS High ethical standards often result in a stable workforce, job satisfaction,
and customer loyalty.
Outline the planning process. CORRECT ANSWERS Some plans are very broad and
long range, focusing on key organizational objectives; others are more detailed and
specify how particular objectives will be achieved. From the mission statement to
objectives to specific plans, each phase must fit into comprehensive planning
framework.
Describe the purpose of tactical planning. CORRECT ANSWERS The purpose of
tactical planning is to determine which short-term activities should be implemented to
accomplish the companies overall strategy.
Compare the kinds of plans made by top managers and middle managers. CORRECT
ANSWERS Top managers focus on long-range, strategic plans. In contrast, middle-
level managers focus on short term tactical planning.
, What is the purpose of a mission statement? CORRECT ANSWERS A mission
statement is a companies written explanation of its purpose, the reason it exists, the
customers it will serve, and how it is different from its competitors. A mission statement
guides the actions of its company, managers, and employees.
Which of a company's characteristics does a SWOT analysis compare? CORRECT
ANSWERS Strength, Weaknesses, Opportunities and Threats Compared to its
competitors.
How do managers use objectives? CORRECT ANSWERS Objectives set guideposts by
which managers define the organizations desired performance in such areas as new
product development, sales, customer service, and employee satisfaction.
Distinguish between programmed and nonprogrammed decisions. CORRECT
ANSWERS Programmed decisions are like ordering office supplies, simple and happen
frequently- they are streamlined. Non-programmed are like entering a new market or
launching a new product- they require more individual evaluation.
What are they steps in the decision-making process? CORRECT ANSWERS
Recognition of problem or opportunity, development of alternatives, evaluation of
alternatives, selection and implementation of chosen alternative, and follow up to
determine the effectiveness of the decision.
How is leadership defined? CORRECT ANSWERS Leadership means directing or
inspiring people to attain certain organizational goals. Effective leaders share several
traits, such as empathy, self-awareness, and objectivity. Leaders also use the power of
their job, expertise, and experience to influence people.
Identify the styles of leadership as they appear along a continuum of greater or lesser
employee participation. CORRECT ANSWERS One end of the continuum Autocratic
leaders makes decisions without consulting the employees. In the middle democratic
leaders ask for suggestions and want participation. At the end is free-rein which leaders
leave most of the decisions to the employees.
What is the relationship between leadership style and corporate culture? CORRECT
ANSWERS The best leadership style to adopt often depends on the organizations
corporate culture and its system of principals, beliefs, and values. Managerial
philosophies, communications, networks, and workplace environment, and practices all
influence culture.
How do managers reinforce corporate culture? CORRECT ANSWERS Managers use
symbols, rituals, ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? CORRECT ANSWERS A visual
representation of a company's structure that illustrates the job positions and functions.
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