WGU C483 Exam UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Open Systems - CORRECT ANSWER Organizations that are affected by, and that affect, their
environment.
Inputs - CORRECT ANSWER Goods and services organizations take in and use to create
products or services.
Outputs - CORRECT ANSWER The products and services organizations create.
External Environment - CORRECT ANSWER All relevant forces outside a firm's boundaries,
such as competitors, customers, the government, and the economy.
Competitive Environment - CORRECT ANSWER The immediate environment surrounding a
firm; includes suppliers, customers, rivals, and the like.
Macroenvironment - CORRECT ANSWER The general environment; includes governments,
economic conditions, and other fundamental factors that generally affect all organizations.
Demographics - CORRECT ANSWER Measures of various characteristics of the people who
make up groups or other social units.
Barriers to Entry - CORRECT ANSWER Conditions that prevent new companies from
entering an industry.
Switching Costs - CORRECT ANSWER Fixed costs buyers face when they change suppliers.
Supply Chain Management - CORRECT ANSWER The managing of the network of facilities
and people that obtain materials from outside the organization, transform them into products, and
distribute them to customers.
, Final Consumer - CORRECT ANSWER A customer who purchases products in their finished
form.
Intermediate Consumer - CORRECT ANSWER A customer who purchases raw materials or
wholesale products before selling them to final customers.
Environmental Scanning - CORRECT ANSWER Searching for and sorting through
information about the environment.
Competitive Intelligence - CORRECT ANSWER Information that helps managers determine
how to compete better.
Scenario - CORRECT ANSWER A narrative that describes a particular set of conditions.
Forecasting - CORRECT ANSWER Method for predicting how variables will change the
future.
Benchmarking - CORRECT ANSWER The process of comparing an organization's practices
and technologies with those of other companies.
Strategic Maneuvering - CORRECT ANSWER An organization's conscious efforts to change
the boundaries of its task environment.
Domain Selection - CORRECT ANSWER Entering a new market or industry with an existing
expertise.
Diverisfication - CORRECT ANSWER A firm's investment in a different product, business, or
geographic area.
Merger - CORRECT ANSWER One or more companies combining with another.
Acquisition - CORRECT ANSWER One firm buying another.
QUESTIONS AND CORRECT ANSWERS
Open Systems - CORRECT ANSWER Organizations that are affected by, and that affect, their
environment.
Inputs - CORRECT ANSWER Goods and services organizations take in and use to create
products or services.
Outputs - CORRECT ANSWER The products and services organizations create.
External Environment - CORRECT ANSWER All relevant forces outside a firm's boundaries,
such as competitors, customers, the government, and the economy.
Competitive Environment - CORRECT ANSWER The immediate environment surrounding a
firm; includes suppliers, customers, rivals, and the like.
Macroenvironment - CORRECT ANSWER The general environment; includes governments,
economic conditions, and other fundamental factors that generally affect all organizations.
Demographics - CORRECT ANSWER Measures of various characteristics of the people who
make up groups or other social units.
Barriers to Entry - CORRECT ANSWER Conditions that prevent new companies from
entering an industry.
Switching Costs - CORRECT ANSWER Fixed costs buyers face when they change suppliers.
Supply Chain Management - CORRECT ANSWER The managing of the network of facilities
and people that obtain materials from outside the organization, transform them into products, and
distribute them to customers.
, Final Consumer - CORRECT ANSWER A customer who purchases products in their finished
form.
Intermediate Consumer - CORRECT ANSWER A customer who purchases raw materials or
wholesale products before selling them to final customers.
Environmental Scanning - CORRECT ANSWER Searching for and sorting through
information about the environment.
Competitive Intelligence - CORRECT ANSWER Information that helps managers determine
how to compete better.
Scenario - CORRECT ANSWER A narrative that describes a particular set of conditions.
Forecasting - CORRECT ANSWER Method for predicting how variables will change the
future.
Benchmarking - CORRECT ANSWER The process of comparing an organization's practices
and technologies with those of other companies.
Strategic Maneuvering - CORRECT ANSWER An organization's conscious efforts to change
the boundaries of its task environment.
Domain Selection - CORRECT ANSWER Entering a new market or industry with an existing
expertise.
Diverisfication - CORRECT ANSWER A firm's investment in a different product, business, or
geographic area.
Merger - CORRECT ANSWER One or more companies combining with another.
Acquisition - CORRECT ANSWER One firm buying another.
