Test Prep - WGU - Principles of
Management - C483 questions with
answers
Delivery of products or services - ➰CORRECT ANSWERS ✔✔A value chain is
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
the sequence of activities that begins with raw materials.
||| ||| ||| ||| ||| ||| ||| |||
What result does a value chain end with?
||| ||| ||| ||| ||| ||| |||
Choose 1 answer ||| |||
||| Supply and demand ||| |||
Operations and logistics ||| |||
Outsourcing or insourcing ||| |||
Delivery of products or services ||| ||| ||| |||
Profit margins are increased. - ➰CORRECT ANSWERS ✔✔What happens
||| ||| ||| ||| ||| ||| ||| ||| |||
when an effective value chain is created?
||| ||| ||| ||| ||| |||
Choose 1 answer ||| |||
Profit margins are increased.
||| ||| |||
A mission statement is developed.
||| ||| ||| |||
Customized products are standardized. ||| ||| |||
,Total quality management is not required.
||| ||| ||| ||| |||
Analysis of external opportunities and threats - ➰CORRECT ANSWERS
||| ||| ||| ||| ||| ||| ||| ||| |||
✔✔Industry and market analysis, competitor analysis, and social analysis are
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
examples of which step in the strategic planning process?
||| ||| ||| ||| ||| ||| ||| |||
Analysis of mission, vision, and goals
||| ||| ||| ||| |||
Analysis of management implementation
||| ||| |||
Analysis of external opportunities and threats
||| ||| ||| ||| |||
Analysis of internal strengths and weaknesses
||| ||| ||| ||| |||
Strengths - ➰CORRECT ANSWERS ✔✔Skilled management, positive cash
||| ||| ||| ||| ||| ||| ||| |||
flow, and well-known brands are examples of which component of the SWOT
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies - ➰CORRECT ANSWERS ✔✔What denotes skills or
||| ||| ||| ||| ||| ||| ||| ||| |||
expertise in an activity that constitutes the roots of competitiveness in an
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
organization?
Choose 1 answer
||| |||
Strategic values |||
,Core competencies
|||
Products and services ||| |||
Opportunities and threats ||| |||
Suppliers can reduce manufacturing time and increase product quality. -
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
➰CORRECT ANSWERS ✔✔According to Michael Porter's competitive ||| ||| ||| ||| ||| ||| |||
environment model, how can suppliers influence strategic planning?
||| ||| ||| ||| ||| ||| |||
Suppliers can reduce the threat from substitute products.
||| ||| ||| ||| ||| ||| |||
Suppliers can reduce the numbers of new entrants in the market.
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
Suppliers can reduce manufacturing time and increase product quality.
||| ||| ||| ||| ||| ||| ||| |||
Suppliers can reduce technological, demographic, and legal threats in the
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
environment.
Differentiation - ➰CORRECT ANSWERS ✔✔A company offers unique ||| ||| ||| ||| ||| ||| ||| |||
products in its industry to create a competitive advantage.
||| ||| ||| ||| ||| ||| ||| |||
Which type of strategy is the company using?
||| ||| ||| ||| ||| ||| |||
Valorization
Differentiation
Customization
Standardization
Vertical integration - ➰CORRECT ANSWERS ✔✔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? |||
Choose 1 answer ||| |||
Vertical integration |||
Strategic alliances |||
Networking
Horizontal benchmarking |||
Strategic vision - ➰CORRECT ANSWERS ✔✔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
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
service in the United States.
||| ||| ||| |||
What describes the owner's dream?
||| ||| ||| |||
Choose 1 answer ||| |||
Strategic vision |||
Strategic mission |||
Strategic planning |||
Strategic management |||
Management - C483 questions with
answers
Delivery of products or services - ➰CORRECT ANSWERS ✔✔A value chain is
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
the sequence of activities that begins with raw materials.
||| ||| ||| ||| ||| ||| ||| |||
What result does a value chain end with?
||| ||| ||| ||| ||| ||| |||
Choose 1 answer ||| |||
||| Supply and demand ||| |||
Operations and logistics ||| |||
Outsourcing or insourcing ||| |||
Delivery of products or services ||| ||| ||| |||
Profit margins are increased. - ➰CORRECT ANSWERS ✔✔What happens
||| ||| ||| ||| ||| ||| ||| ||| |||
when an effective value chain is created?
||| ||| ||| ||| ||| |||
Choose 1 answer ||| |||
Profit margins are increased.
||| ||| |||
A mission statement is developed.
||| ||| ||| |||
Customized products are standardized. ||| ||| |||
,Total quality management is not required.
||| ||| ||| ||| |||
Analysis of external opportunities and threats - ➰CORRECT ANSWERS
||| ||| ||| ||| ||| ||| ||| ||| |||
✔✔Industry and market analysis, competitor analysis, and social analysis are
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
examples of which step in the strategic planning process?
||| ||| ||| ||| ||| ||| ||| |||
Analysis of mission, vision, and goals
||| ||| ||| ||| |||
Analysis of management implementation
||| ||| |||
Analysis of external opportunities and threats
||| ||| ||| ||| |||
Analysis of internal strengths and weaknesses
||| ||| ||| ||| |||
Strengths - ➰CORRECT ANSWERS ✔✔Skilled management, positive cash
||| ||| ||| ||| ||| ||| ||| |||
flow, and well-known brands are examples of which component of the SWOT
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies - ➰CORRECT ANSWERS ✔✔What denotes skills or
||| ||| ||| ||| ||| ||| ||| ||| |||
expertise in an activity that constitutes the roots of competitiveness in an
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
organization?
Choose 1 answer
||| |||
Strategic values |||
,Core competencies
|||
Products and services ||| |||
Opportunities and threats ||| |||
Suppliers can reduce manufacturing time and increase product quality. -
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
➰CORRECT ANSWERS ✔✔According to Michael Porter's competitive ||| ||| ||| ||| ||| ||| |||
environment model, how can suppliers influence strategic planning?
||| ||| ||| ||| ||| ||| |||
Suppliers can reduce the threat from substitute products.
||| ||| ||| ||| ||| ||| |||
Suppliers can reduce the numbers of new entrants in the market.
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
Suppliers can reduce manufacturing time and increase product quality.
||| ||| ||| ||| ||| ||| ||| |||
Suppliers can reduce technological, demographic, and legal threats in the
||| ||| ||| ||| ||| ||| ||| ||| ||| |||
environment.
Differentiation - ➰CORRECT ANSWERS ✔✔A company offers unique ||| ||| ||| ||| ||| ||| ||| |||
products in its industry to create a competitive advantage.
||| ||| ||| ||| ||| ||| ||| |||
Which type of strategy is the company using?
||| ||| ||| ||| ||| ||| |||
Valorization
Differentiation
Customization
Standardization
Vertical integration - ➰CORRECT ANSWERS ✔✔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? |||
Choose 1 answer ||| |||
Vertical integration |||
Strategic alliances |||
Networking
Horizontal benchmarking |||
Strategic vision - ➰CORRECT ANSWERS ✔✔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
||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| ||| |||
service in the United States.
||| ||| ||| |||
What describes the owner's dream?
||| ||| ||| |||
Choose 1 answer ||| |||
Strategic vision |||
Strategic mission |||
Strategic planning |||
Strategic management |||
