WGU C20 1 BUSINESS ACUMEN NEW VERSIO 2024 -
2026 /ACTUAL EXAM 100 QUESTIONS AND 100% COMPLETE SOLUTION/A+GRADE GUARANTEED What is Management? - CORRECT ANSWER ✔✔ 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 ac hieve the company's goals. How do the jobs of top managers, middle managers, and supervisory managers differ? - CORRECT ANSWER ✔✔ 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 companie s 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 ANSWER ✔✔ 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 ANSWER ✔✔ 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 ANSWER ✔✔ High ethical standards often result in a stable workforce, job satisfact ion, and customer loyalty. Outline the planning process. - CORRECT ANSWER ✔✔ 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 missi on statement to objectives to specific plans, each phase must fit into comprehensive planning framework. Describe the purpose of tactical planning. - CORRECT ANSWER ✔✔ The purpose of tactical planning is to determine which short -term activities should be im plemented to accomplish the companies overall strategy. Compare the kinds of plans made by top managers and middle managers. - CORRECT ANSWER ✔✔ Top managers focus on long -range, strategic plans. In contrast, middle -level managers focus on short term tactic al planning. What is the purpose of a mission statement? - CORRECT ANSWER ✔✔ 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 st atement guides the actions of its company, managers, and employees. Which of a company's characteristics does a SWOT analysis compare? - CORRECT ANSWER ✔✔ Strength, Weaknesses, Opportunities and Threats Compared to its competitors. How do managers use objectives? - CORRECT ANSWER ✔✔ 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 pr ogrammed and nonprogrammed decisions. - CORRECT ANSWER ✔✔ 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 ANSWER✔✔ Recognition of problem or opportunity, development of alternatives, evaluation of alternatives, selection and implementation
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