WGU C483: Principles of Management Exam Knowledge Check with complete solutions | Latest 2025/2026

WGU C483: Principles of Management Exam
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Knowledge Check with complete solutions. i.- i.- i.- i.- i.-




Initial Public Offering
i.- Sale to the public, for the first time, of
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federally registered and underwritten shares of stock in the company
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Opportunity Analysis Description of good or service, assessment of
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the opportunity, assessment of entrepreneur (self), specification of
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activities and resources needed to translate idea into a viable business,
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and source of capital
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Downsizing i.-i.- i.- Planned elimination of positions or jobs i.- i.- i.- i.- i.-




Rightsizing A successful effort to achieve an appropriate size at
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which the company performs most effectively
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Survivor Syndrome The loss of productivity and morale in
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employees who remain after a downsizing i.- i.- i.- i.- i.-




Customer Relationship Management (CRM) i.- A multi-faceted i.- i.- i.-i.- i.- i.- i.-



process, typically mediated by a set of information technologies, that
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focuses on creating two-way exchanges with customers so that firms
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have an intimate knowledge of their needs, wants and buying patterns
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,Value Chain The sequence of activities that flow from raw
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materials to delivery of goods or services with additional value created
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at each step
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Total Quality Management (TQM)
i.- An integrative approach toi.- i.- i.-i.- i.- i.- i.- i.- i.-



management that supports the attainment of customer satisfaction i.- i.- i.- i.- i.- i.- i.- i.-



through a wide variety of tools and techniques that results in high-
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quality goods and service i.- i.- i.-




Six Sigma Quality
i.- A method of systematically analyzing work
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processes to identify or eliminate virtually all causes of defects,
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standardizing the processes to reach the lowest practicable level of any
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cause of customer dissatisfaction
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Organization for Standardization (ISO) 9001 A series of quality
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standards developed by a committee working under the International
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Organization for Standardization to improve total quality in all i.- i.- i.- i.- i.- i.- i.- i.- i.-



businesses for the benefit of the producers and consumers
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Top-level Managers i.- i.-i.- i.- Strategic Managers i.-




Middle-level Managers i.- i.-i.- i.- Tactical Managers i.-




Frontline Managers i.- i.-i.- i.- Operational Managers i.-

, Goals should be:
i.- S.M.A.R.T. Specific, Measurable, Attainable,
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Relevant, Time-bound i.-




Strategic Planning Set of procedures for making decisions about an
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organization's long-term goals and strategies i.- i.- i.- i.-




Have a strong external orientation and cover major portions of the
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organization


Senior executives are responsible for the development and execution,
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although they usually do not formulate or implement the entire plan
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personally


Strategic Goals Major targets or results that relate to the long-
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term survival, value, and growth of the organization.
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Strategic managers usually establish goals that reflect both
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effectiveness and efficiency i.- i.- i.-




Include growth, increasing market share, improving profitability,
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boosting return on investment, fostering both quantity and quality of
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outputs, increasing productivity, improving customer service, and
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contributing to society i.- i.-