WGU C201 BUSINESS ACUMEN
OBJECTIVE ASSESSMENT
Which two key elements does an effective organization include?
Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis
situation?
It establishes a direct flow of authority
A company might divide itself into smaller groups that best match the types of
customers it serves. What is this an example of?
Departmentalization
Which primary driver does management use for an organization's structure?
Achievement of company goals
Which step in the organizing process results in management grouping work
activities into units within the organization?
Departmentalization
A high-tech startup company is launching a marketing campaign for its new
social media portal by highlighting how the portal exceeds the connectivity and
collaboration capabilities of all other social media sites.
Which type of competitive advantage is this company leveraging?
product
Which marketing strategy is devoted to maintaining continuous bottom line
prices rather than relying on short-term price-cutting tactics such as cents-off
coupons, rebates, and special sales?
Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to
market a product better than a push strategy?
When demand for the product is driven by the end user
Which marketing tool is often used to build effective relationship marketing
campaigns?
Affinity Programs
Which element of the promotional mix has the advantage of messaging that can
be tailored for each customer but the disadvantage of a high cost per contact?
Personal Selling
What three factors should be addressed in a successful marketing plan?
Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation?
Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-buying
behavior?
A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
,Which three factors suggest a product should be marketed as a specialty
product?
Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising
more than personal selling?
Accessories to primary products
Consumable supplies
After years of marketing a body lotion, a cosmetics company begins promoting
the lotion as an insect repellent as well.In which three product life cycle extension
strategies did this company engage?
Adding new users, finding new uses for the product, increasing frequency of use.
What are three qualities of strong brand equity?
Awareness, Loyalty and favorable images
A customer intends to purchase her favorite cereal. It is out of stock, so she
purchases an alternative brand of cereal instead.Which stage of brand loyalty is
this customer in?
brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking
capabilities of a global package delivery service?
Direct
Which three tasks are key responsibilities of operations managers?
Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
Which two characteristics does a Just-In-Time (JIT) System have?
Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in operations
activities.
Which aspect of operations management do the ISO 9000 standards address?
Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of
customized products cost effectively?
Flexible
Which two of the following distribution channels would take title of the products
they handle?
Limited-function merchant wholesaler
Full-function merchant wholesaler
Which economic graph is used by organizations to regulate production by
predicting the amount of product buyers will purchase at different prices?
Demand Curve
Which two factors drive demand in a microeconomic system?
Price of substitute goods
Customer preference
, How does a sudden shortage of a commodity product affect the immediate
demand for the product at its current price?
Demand increases
Which two impacts result from a nation's increase in productivity?
Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an
expansionary monetary policy?
To encourage bankers to make loans
To cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S.
government reduces the number of Treasury bills, Treasury Notes, and Treasury
bonds it sells?
A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
What is one role of a financial manager?
Analyzing major investment decisions
Which two activities are finance activities rather than accounting activities?
Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term
funding source?
Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation
of paying off the current year's tax liability?
commerical paper
Which role does the underwriter play in financing business operations when
using the capital market to sell securities to the public?
It assumes the risk of the assessed value of the security from the issuer.
Why should a manager use financial controls in a firm's financial plan?
To determine the accuracy of forecasted revenues, costs, and expenses
What does a CFO use in financial planning to determine the expected level of
revenue for future periods?
Sales forecast plus non-sales revenue
How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact
retailers?
It capped the debit card swipe fee at 21 cents.
Which two activities are prohibited by insider trading laws and should be avoided
by a firm's employees?
Buying stock in the public company for which the employee works based on a
conversation the employee overheard at a cocktail party between two of the company's
executives
Selling company stock because a co-worker told the employee the company's new drug
is failing in clinical trial
OBJECTIVE ASSESSMENT
Which two key elements does an effective organization include?
Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis
situation?
It establishes a direct flow of authority
A company might divide itself into smaller groups that best match the types of
customers it serves. What is this an example of?
Departmentalization
Which primary driver does management use for an organization's structure?
Achievement of company goals
Which step in the organizing process results in management grouping work
activities into units within the organization?
Departmentalization
A high-tech startup company is launching a marketing campaign for its new
social media portal by highlighting how the portal exceeds the connectivity and
collaboration capabilities of all other social media sites.
Which type of competitive advantage is this company leveraging?
product
Which marketing strategy is devoted to maintaining continuous bottom line
prices rather than relying on short-term price-cutting tactics such as cents-off
coupons, rebates, and special sales?
Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to
market a product better than a push strategy?
When demand for the product is driven by the end user
Which marketing tool is often used to build effective relationship marketing
campaigns?
Affinity Programs
Which element of the promotional mix has the advantage of messaging that can
be tailored for each customer but the disadvantage of a high cost per contact?
Personal Selling
What three factors should be addressed in a successful marketing plan?
Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation?
Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-buying
behavior?
A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
,Which three factors suggest a product should be marketed as a specialty
product?
Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising
more than personal selling?
Accessories to primary products
Consumable supplies
After years of marketing a body lotion, a cosmetics company begins promoting
the lotion as an insect repellent as well.In which three product life cycle extension
strategies did this company engage?
Adding new users, finding new uses for the product, increasing frequency of use.
What are three qualities of strong brand equity?
Awareness, Loyalty and favorable images
A customer intends to purchase her favorite cereal. It is out of stock, so she
purchases an alternative brand of cereal instead.Which stage of brand loyalty is
this customer in?
brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking
capabilities of a global package delivery service?
Direct
Which three tasks are key responsibilities of operations managers?
Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
Which two characteristics does a Just-In-Time (JIT) System have?
Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in operations
activities.
Which aspect of operations management do the ISO 9000 standards address?
Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of
customized products cost effectively?
Flexible
Which two of the following distribution channels would take title of the products
they handle?
Limited-function merchant wholesaler
Full-function merchant wholesaler
Which economic graph is used by organizations to regulate production by
predicting the amount of product buyers will purchase at different prices?
Demand Curve
Which two factors drive demand in a microeconomic system?
Price of substitute goods
Customer preference
, How does a sudden shortage of a commodity product affect the immediate
demand for the product at its current price?
Demand increases
Which two impacts result from a nation's increase in productivity?
Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an
expansionary monetary policy?
To encourage bankers to make loans
To cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S.
government reduces the number of Treasury bills, Treasury Notes, and Treasury
bonds it sells?
A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
What is one role of a financial manager?
Analyzing major investment decisions
Which two activities are finance activities rather than accounting activities?
Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term
funding source?
Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation
of paying off the current year's tax liability?
commerical paper
Which role does the underwriter play in financing business operations when
using the capital market to sell securities to the public?
It assumes the risk of the assessed value of the security from the issuer.
Why should a manager use financial controls in a firm's financial plan?
To determine the accuracy of forecasted revenues, costs, and expenses
What does a CFO use in financial planning to determine the expected level of
revenue for future periods?
Sales forecast plus non-sales revenue
How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact
retailers?
It capped the debit card swipe fee at 21 cents.
Which two activities are prohibited by insider trading laws and should be avoided
by a firm's employees?
Buying stock in the public company for which the employee works based on a
conversation the employee overheard at a cocktail party between two of the company's
executives
Selling company stock because a co-worker told the employee the company's new drug
is failing in clinical trial
