WGU C483 Principles of Management - (Pre-Assessment)
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WGU C483
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WGU C483
WGU C483 Principles of Management - (Pre-Assessment)
Industry and market analysis, competitor analysis, and social analysis are examples of which step in the strategic planning process?
Analysis of external opportunities and threats
Skilled management, positive cash flow, and well-known brands a...
wgu c483 principles of management pre assessment industry and market analysis
and social analysis are examples of which step in the strategic planning process analysis of ex
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WGU C483 Principles of Management -
(Pre-Assessment)
Industry and market analysis, competitor analysis, and social analysis are
examples of which step in the strategic planning process?
Analysis of external opportunities and threats
Skilled management, positive cash flow, and well-known brands are examples of
which component of the SWOT analysis?
Strengths
What denotes skills or expertise in an activity that constitutes the roots of
competitiveness in an organization?
Core competencies
According to Michael Porter's competitive environment model, how can suppliers
influence strategic planning?
Suppliers can reduce manufacturing time and increase product quality.
A company offers unique products in its industry to create a competitive
advantage.
Which type of strategy is the company using?
Differentiation
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?
Vertical integration
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?
Strategic vision
What is the first step of organizational strategic planning?
Developing a strategic mission
A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with?
Delivery of products or services
What happens when an effective value chain is created?
Profit margins are increased.
The introduction of statistical tools to analyze the causes of product defects is
associated with which quality improvement approach?
, Six Sigma
What is the principal idea of reengineering?
To revolutionize key organizational systems and processes
How many defects per million are there at Six Sigma, assuming a product or
process is defect-free 99.99966% of the time?
Less than 3.4
What is the last step to Deming's 14 points of quality management?
To take action to accomplish the transformation
Process checklists and project audits are components of which management
process?
Quality Assurance
What is the main objective of an internal quality audit?
To measure effectiveness of an organization's quality management system
A company is trying to systematically improve processes by eliminating
nonconformity of their products to product specifications. The company believes
their continuous effort to reduce variation in their process outputs is key to their
business success.
Which quality process is the company utilizing?
Six Sigma
Which concept entails all aspects of interaction a company has with its
customers in both sales and service-related environments?
Customer relationship management
Dr. Ohmae indicates that customer, corporation, and competitors should be
integrated in a strategic triangle.
What does Dr. Ohmae indicate that an organization can obtain by doing this?
Sustained competitive advantage
What designates those who take hands-on responsibility for creating innovation
such as new ideas, products, or methods within an organization?
Intrapreneur
Why is innovation an important element of entrepreneurship?
Creates unique and different products or services
Most successful entrepreneurs exhibit certain characteristics. Some
entrepreneurs are open-minded, able to learn quickly, and skilled at
conceptualizing.
Which entrepreneurial personality trait is this?
Creativity, self-reliance, and ability to adapt
Which personality characteristics are believed to contribute to an entrepreneur's
success?
Determination
Why would an entrepreneurial business choose to use its own resources versus
seeking outside resources in financing a business venture?
To Maintain Control
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