Pre-Assessment: Principles of
Management – Complete Study Guide
2026
A value chain is the sequence of activities that begins w/ raw materials. What results does a value chain
end with? - ANSWER ✔✨---Delivery of products or services
What happens when an effective value chain is created? - ANSWER ✔✨---Profit margins are
increased
Industry and market analysis, competitor analysis, and social analysis are examples of which step in the
strategic planning process? - ANSWER ✔✨---Analysis of external opportunities and threats
Skill management, positive cash flow, and well-known brands are examples of which components of the
SWOT analysis? - ANSWER ✔✨---Strengths
What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an
organization? - ANSWER ✔✨---Core competencies
, According to Michael Porter's competitive environment model, how can suppliers influence strategic
planning? - ANSWER ✔✨---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? - ANSWER ✔✨---Diffferentiation
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? - ANSWER ✔✨---Vertical Intergration
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? - ANSWER ✔✨---Strategic vision
What is the first step of the organizational strategic planning? - ANSWER ✔✨---Developing a
strategic mission
The introduction of statistical tools that analyze the causes of product defect is associated w/ which
quality improvement approach? - ANSWER ✔✨---Six Sigma
What is the principal idea of reengineering? - ANSWER ✔✨---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? - ANSWER ✔✨---Less than 3.4
What is the last step to Deming's 14 points of quality management? - ANSWER ✔✨---To take
action to accomplish the transwerformation
Process checklists and project audits are components of which management process? -
ANSWER ✔✨---Quality Assurance
Management – Complete Study Guide
2026
A value chain is the sequence of activities that begins w/ raw materials. What results does a value chain
end with? - ANSWER ✔✨---Delivery of products or services
What happens when an effective value chain is created? - ANSWER ✔✨---Profit margins are
increased
Industry and market analysis, competitor analysis, and social analysis are examples of which step in the
strategic planning process? - ANSWER ✔✨---Analysis of external opportunities and threats
Skill management, positive cash flow, and well-known brands are examples of which components of the
SWOT analysis? - ANSWER ✔✨---Strengths
What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an
organization? - ANSWER ✔✨---Core competencies
, According to Michael Porter's competitive environment model, how can suppliers influence strategic
planning? - ANSWER ✔✨---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? - ANSWER ✔✨---Diffferentiation
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? - ANSWER ✔✨---Vertical Intergration
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? - ANSWER ✔✨---Strategic vision
What is the first step of the organizational strategic planning? - ANSWER ✔✨---Developing a
strategic mission
The introduction of statistical tools that analyze the causes of product defect is associated w/ which
quality improvement approach? - ANSWER ✔✨---Six Sigma
What is the principal idea of reengineering? - ANSWER ✔✨---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? - ANSWER ✔✨---Less than 3.4
What is the last step to Deming's 14 points of quality management? - ANSWER ✔✨---To take
action to accomplish the transwerformation
Process checklists and project audits are components of which management process? -
ANSWER ✔✨---Quality Assurance
