WGU C 483 -Principles of Management Practice Questions and Answers 100%

A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? - ANSWER-delivery of products and services what happens when an effective value chain is created - ANSWER-profit margins are increased industry and market, competitor analysis, and social analysis are examples of which step in strategic planning process - ANSWER-analysis of exteral opportunities and threats skilled management, positive cash flow, and well known brands are examples of which component of the SWOT analysis - ANSWER-strengths what denotes skill or expertise in an activity that constitutes the roots of competitiveness in an organization - ANSWER-core competencies according to michael porters competitive environment model, how can suppliers influence strategic planning - ANSWER-uppliers 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-customization 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 integration what is the first step of organizational strategic planning? - ANSWER-developing internal strengths 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 services in the united states. what describes the owners dream? - ANSWER-strategic planning the introduction of statistical tools to analyze the causes of product defects is associated with which quality improvement approach? - ANSWER-six sigma what is the principal idea of reengineering - ANSWER-to revolutionize key organizational systems and processes what designates those who take hands-on responsibility for creating innovation such as new ideas, products or methods within an organization - ANSWER-intrapreneuer how many defects per million are there at six sigma, assuming a product or process is defect free 99.% of the time? - ANSWER-3.4 defects per million why is innovation an important element of entrepreneurship - ANSWER-creates unique and different prioducts and services... a company is trying to systematically improve processes by eliminating noncomformity of their products to product specifications. the company believes their continuous effort to reduce variation in their process outputs is key to their business success - ANSWER-six sigma why would an entrepreneurial business choose to use its own resources versus seeking outside resources in financing a business venture - ANSWER-to maintain control... what can managers do to encourage useful conflict during a meeting to lessen inhibition about disagreeing and make the conflict less personal - ANSWER-promote affective conflict... which activity should management use to encourage intrapreneurship within an organization - ANSWER-provide employees extra training opportunities which type of control system is being implemented when management uses prices, profit centers, and exchange relationaships as a control - ANSWER-market control... a store that has had a high rate of employee theft wants to use an employee selection technique to hire new employees who are less likely to steal from them. which type of employee selection instrument is most appropriate in this situation - ANSWER-integrity testing... a corporation recently disbanded its flex time schedule for employees and now requires that all employees work 9am to 6pm monday through friday. the employees banded together in opposition of the change. what were the employees experienceing - ANSWER-abilene paradox the manager of the HR department at a corporation agreed to authorize one-hour breaks for all employees fo the organization as long as the production manager agreed to shorten the morning and afternoon breaks of all emlpoyees to 15 minutes. which approach were the managers using to enlist cooperation for the change - ANSWER-facilitation and support