WGU C483 Principles of Management Test Prep 105
Questions with Verified Answers
Delivery of products or services - CORRECT ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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
ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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
Developing a strategic mission - CORRECT ANSWER What is the first step of
organizational strategic planning?
Choose 1 answer
Questions with Verified Answers
Delivery of products or services - CORRECT ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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
ANSWER 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 ANSWER 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 ANSWER 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 ANSWER 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
Developing a strategic mission - CORRECT ANSWER What is the first step of
organizational strategic planning?
Choose 1 answer
