WGU Principles of Management C483 Test Prep 2026 – Exam Review Summary & Study Guide

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Terms in this set (105)



Delivery of products or services A value chain is the sequence of activities that begins with raw materials.


What result does a value chain end with?


Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services


Profit margins are increased. What happens when an effective value chain is created?


Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required.




Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf

,Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf




Analysis of external opportunities and threats Industry and market analysis, competitor analysis, and social analysis are
examples of which step in the strategic planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses




Strengths Skilled management, positive cash flow, and well-known brands are examples
of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities

Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf

, Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf Test Prep - WGU - Principles of Management - C483.pdf




Core competencies What denotes skills or expertise in an activity that constitutes the roots of
competitiveness in an organization?


Choose 1 answer


Strategic values
Core competencies
Products and services
Opportunities and threats


Suppliers can reduce manufacturing time and increase According to Michael Porter's competitive environment model, how can
product quality. suppliers influence strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the
environment.




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