WGU C483 Study Guide Flashcards Questions and Answers
(2025/2026)
Steps in Formal Analysis Planning SAGGIM
Situational Analysis
Alternative Goals/Plans Selection
Goal/Plan Evaluation
Implementation
Monitor and Control
Strategic Vision the long-term direction and strategic intent of a company
Strategic Mission a statement of a firm's unique purpose and the scope of its operations
in product and market terms
Goals The broad, long-term accomplishments an organization wishes to attain.
SWOT Analysis a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
5 types of corporate business strategies Concentration
Concentric Diversification
Conglomorate Diversification
Backward Vertical Integration
Forward Vertical Integration
Concentration (Corporate Strategy) Business focus
, Example: WGU focuses on higher education
Concentric diversification strategy when the organization takes what they are good at
and create smaller businesses.
Conglomerate Diversification Stepping outside of initial business practice. Example: Apple
started with making computers and now they have phones and iPads
Backwards Vertical Integraation Business takes control of supply and becomes the
supplier.
Forward Vertical Integration Business takes control of the next step in the distribution
channel and figures out a better way to sell product.
2 Kinds of Business Strategies that companies can use to gain competitive advantage. 1.
Low Cost Strategy
2. Differentiation
Low Cost Strategy A strategy an organization uses to build competitive advantage by
being efficient and offering a standard, no-frills product.
Differentiation Strategy to offer products or services that are of unique and superior
value compared with those of competitors but to target a wide market
Core Competency Strategy organization chooses to focus specifically on its core
competency and forms partnerships with other organizations to handle nonstrategic business
processes
(2025/2026)
Steps in Formal Analysis Planning SAGGIM
Situational Analysis
Alternative Goals/Plans Selection
Goal/Plan Evaluation
Implementation
Monitor and Control
Strategic Vision the long-term direction and strategic intent of a company
Strategic Mission a statement of a firm's unique purpose and the scope of its operations
in product and market terms
Goals The broad, long-term accomplishments an organization wishes to attain.
SWOT Analysis a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
5 types of corporate business strategies Concentration
Concentric Diversification
Conglomorate Diversification
Backward Vertical Integration
Forward Vertical Integration
Concentration (Corporate Strategy) Business focus
, Example: WGU focuses on higher education
Concentric diversification strategy when the organization takes what they are good at
and create smaller businesses.
Conglomerate Diversification Stepping outside of initial business practice. Example: Apple
started with making computers and now they have phones and iPads
Backwards Vertical Integraation Business takes control of supply and becomes the
supplier.
Forward Vertical Integration Business takes control of the next step in the distribution
channel and figures out a better way to sell product.
2 Kinds of Business Strategies that companies can use to gain competitive advantage. 1.
Low Cost Strategy
2. Differentiation
Low Cost Strategy A strategy an organization uses to build competitive advantage by
being efficient and offering a standard, no-frills product.
Differentiation Strategy to offer products or services that are of unique and superior
value compared with those of competitors but to target a wide market
Core Competency Strategy organization chooses to focus specifically on its core
competency and forms partnerships with other organizations to handle nonstrategic business
processes
