C483 WGU Questions and Correct Answers/ Latest Update / Already Graded

1 | Page



C483 WGU Questions and Correct
Answers/ Latest Update / Already
Graded
Similarity between Decision making & Planning Situational Analysis?


Ans: They both move in a cycle.




Triple Bottom Line


Ans: people, planet, profit (economic, societal, environmental)




Strategic


Ans: Managerial Level : Top- Generic - 3-7 years to plan




Tactical


Ans: Managerial level : Middle 1-2 years to plan




Operational

,2 | Page

Ans: Managerial Level : Frontline - Specific Plans & Procedures - ess than a

year to plan




Decision making Stages


Ans: 1. Identify and diagnose the problem


2. Generate alternative solutions


3. Evaluate alternatives


4. Make the choice


5. Implement the decision


6. Evaluate the decision




Specific Formal Planning Steps

, 3 | Page

Ans: 1. Situational Analysis


2. Alternative Goals and Plans


3. Goal and Plan Evaluation


4. Goal and Plan Selection


5. Implementation


6. Monitor and Control




Strategic Management


Ans: a process that involves managers from all parts of the organization in

the formulation and the implementation of strategies and strategic goals




Strategic Management Process


Ans: The full set of commitments, decisions, and actions required for a firm

to achieve strategic competitiveness and earn above-average returns.




Business strategies