WGU D514 ANALYTICAL METHODS OF
HEALTHCARE LEADERS TEST EXAM
COMPLETE STUDY GUIDE VERIFIED
QUESTIONS AND ANSWERS GRADED A+
⩥ Corporate-Level Strategy.
Answer: A plan that indicates in which industries and national markets
an organization intends to compete.
⩥ Emergent-Strategy.
Answer: any unplanned strategic initiative bubbling up from the bottom
of the organization
⩥ Functional-Level Strategy.
Answer: Strategic scope and direction at the operating division,
department, or project level. This type of strategy is driven by product or
service line.
⩥ Prospective Strategy.
Answer: A planning function that forecasts an organization's future
situation and designs means to guide an organization's future decisions.
⩥ Industry.
,Answer: A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
⩥ Market Structure.
Answer: The organizational characteristics of a market that exert a
strategic influence on the intensity and form of competition.
⩥ Markets.
Answer: Places, systems, and processes through which buyers and
sellers exchange goods and services.
⩥ Patient-Origin Study.
Answer: Data that describe the proportion and number of an
organization's customers (patients) who come from different geographic
locations. This data can be arrayed and graphed to display the provider's
primary and secondary service areas.
⩥ Perfect Competition.
Answer: One of the four basic types of market structures. Perfect
competition exits in markets composed of many small organizations that
produce an undifferentiated, homogeneous product.
⩥ Societal Environment.
,Answer: The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions,
population demographics, cultural values, governmental regulations, and
technology.
⩥ Broad Differentiation Strategy.
Answer: A type of strategy aimed at offering products that consumers
perceive to be distinct from competitors' products and that appeal to a
wide segment of a market.
⩥ Broad Low-Cost Strategy.
Answer: A type of strategy aimed at providing low-cost products to a
broad customer segment.
⩥ Business Model.
Answer: The underlying structure of an organization; the means through
which an organization creates and delivers value to its customers and
earns revenues.
⩥ Customer Value.
Answer: The perceived benefits of a product or service. Consumers may
find value in many aspects of products and services, including range and
type, degree of customization, availability and accessibility, and
quality/cost trade-off.
, ⩥ Focused Differentiation Strategy.
Answer: A type of strategy aimed at offering products that consumers
perceive to be distinct from competitors' products and that appeal to a
limited industry niche or customer segment.
⩥ Focused Low-Cost Strategy.
Answer: A type of strategy aimed at providing low-cost products to a
limited subset of the broad mass market.
⩥ Generic Strategy.
Answer: Commonly used strategies that combine a target market (ex. a
small segment of a population) and a type of differentiation (ex. low
cost).
⩥ Inputs.
Answer: The combination, type, and mix of resources an organization
uses to provide a product or service, such as personnel; materials; and
strategic assets such as facilities, equipment, location, patents, networks,
and partnerships.
⩥ Middle Strategy.
Answer: A strategy that seeks to deliver low cost and differentiation
simultaneously.
HEALTHCARE LEADERS TEST EXAM
COMPLETE STUDY GUIDE VERIFIED
QUESTIONS AND ANSWERS GRADED A+
⩥ Corporate-Level Strategy.
Answer: A plan that indicates in which industries and national markets
an organization intends to compete.
⩥ Emergent-Strategy.
Answer: any unplanned strategic initiative bubbling up from the bottom
of the organization
⩥ Functional-Level Strategy.
Answer: Strategic scope and direction at the operating division,
department, or project level. This type of strategy is driven by product or
service line.
⩥ Prospective Strategy.
Answer: A planning function that forecasts an organization's future
situation and designs means to guide an organization's future decisions.
⩥ Industry.
,Answer: A particular category of business or economic activity; an
aggregation of sellers whose products are close substitutes.
⩥ Market Structure.
Answer: The organizational characteristics of a market that exert a
strategic influence on the intensity and form of competition.
⩥ Markets.
Answer: Places, systems, and processes through which buyers and
sellers exchange goods and services.
⩥ Patient-Origin Study.
Answer: Data that describe the proportion and number of an
organization's customers (patients) who come from different geographic
locations. This data can be arrayed and graphed to display the provider's
primary and secondary service areas.
⩥ Perfect Competition.
Answer: One of the four basic types of market structures. Perfect
competition exits in markets composed of many small organizations that
produce an undifferentiated, homogeneous product.
⩥ Societal Environment.
,Answer: The public and socioeconomic factors surrounding and
influencing an organization, such as general economic conditions,
population demographics, cultural values, governmental regulations, and
technology.
⩥ Broad Differentiation Strategy.
Answer: A type of strategy aimed at offering products that consumers
perceive to be distinct from competitors' products and that appeal to a
wide segment of a market.
⩥ Broad Low-Cost Strategy.
Answer: A type of strategy aimed at providing low-cost products to a
broad customer segment.
⩥ Business Model.
Answer: The underlying structure of an organization; the means through
which an organization creates and delivers value to its customers and
earns revenues.
⩥ Customer Value.
Answer: The perceived benefits of a product or service. Consumers may
find value in many aspects of products and services, including range and
type, degree of customization, availability and accessibility, and
quality/cost trade-off.
, ⩥ Focused Differentiation Strategy.
Answer: A type of strategy aimed at offering products that consumers
perceive to be distinct from competitors' products and that appeal to a
limited industry niche or customer segment.
⩥ Focused Low-Cost Strategy.
Answer: A type of strategy aimed at providing low-cost products to a
limited subset of the broad mass market.
⩥ Generic Strategy.
Answer: Commonly used strategies that combine a target market (ex. a
small segment of a population) and a type of differentiation (ex. low
cost).
⩥ Inputs.
Answer: The combination, type, and mix of resources an organization
uses to provide a product or service, such as personnel; materials; and
strategic assets such as facilities, equipment, location, patents, networks,
and partnerships.
⩥ Middle Strategy.
Answer: A strategy that seeks to deliver low cost and differentiation
simultaneously.
