C483 WGU || 100% Verified Answers.
Similarity between Decision making & Planning Situational Analysis? correct answers They
both move in a cycle.
Triple Bottom Line correct answers people, planet, profit (economic, societal, environmental)
Strategic correct answers Managerial Level : Top- Generic - 3-7 years to plan
Tactical correct answers Managerial level : Middle 1-2 years to plan
Operational correct answers Managerial Level : Frontline - Specific Plans & Procedures - ess
than a year to plan
Decision making Stages correct answers 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 correct answers 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 correct answers 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 correct answers The full set of commitments, decisions, and
actions required for a firm to achieve strategic competitiveness and earn above-average returns.
Business strategies correct answers low cost and differentiation
Low Cost correct answers Focuses on delivering no-frills basics with low prices that are hard to
match; cost is the basis for competition.
Differentiation correct answers Focuses on offering what your competition cant - BE UNIQUE
core competencies (internal) correct answers unique strengths, embedded deep within a firm, that
are critical to gaining and sustaining competitive advantage
Benchmarking (external) correct answers assessing how well one companies basic foundations
and skills compare with those of another company
, Corporate Strategies correct answers Concentration, Concentric Diversification, Conflomerate
Diversification, Backward Vertical Integration
Concentration correct answers When an organization focuses on one business and one industry
concentric diversification correct answers Organization takes what they're good at and makes
similar businesses
conglomerate diversification correct answers a strategy used to add new businesses that produce
unrelated products or are involved in unrelated markets and activities ( organization decides to
skip into places that they may night specialize in.) EX; apple initially starting with computers -
now they have streaming, phones, watches, etc
Backward vertical integration correct answers When a company owns the supplier or supply
process in the supply chain. Ex; apple owning their own store
Strategy Implementation Steps correct answers 1. Define strategic tasks
2. Assess organization capabilities
3. Develop an implementation agenda
4. Create an implementation plan
Total Quality Management (TQM) correct answers a management philosophy that focuses on
satisfying customers through empowering employees to be an active part of continuous quality
improvement
Quality Gurus correct answers Deming, Juran, Crosby
14 points of quality (WHO CREATED THIS?) correct answers DEMING
1. Create a constant purpose toward improvement.
2. Adopt the new philosophy.
3. Stop depending on inspections.
4. Use a single supplier for any one item.
5. Improve constantly and forever
6. Use training on the job.
7. Don't simply supervise
8. Eliminate fear.Allow people to perform at their best by ensuring that they're not afraid to
express ideas or concerns.
9. Break down barriers between departments.
10. Get rid of unclear slogans.
11. Eliminate management by objectives.
12. Remove barriers to pride of workmanship.
13. Implement education and self-improvement.
14. Make "transformation" everyone's job.
Total Quality Tools and Systems correct answers Six Sigma
Similarity between Decision making & Planning Situational Analysis? correct answers They
both move in a cycle.
Triple Bottom Line correct answers people, planet, profit (economic, societal, environmental)
Strategic correct answers Managerial Level : Top- Generic - 3-7 years to plan
Tactical correct answers Managerial level : Middle 1-2 years to plan
Operational correct answers Managerial Level : Frontline - Specific Plans & Procedures - ess
than a year to plan
Decision making Stages correct answers 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 correct answers 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 correct answers 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 correct answers The full set of commitments, decisions, and
actions required for a firm to achieve strategic competitiveness and earn above-average returns.
Business strategies correct answers low cost and differentiation
Low Cost correct answers Focuses on delivering no-frills basics with low prices that are hard to
match; cost is the basis for competition.
Differentiation correct answers Focuses on offering what your competition cant - BE UNIQUE
core competencies (internal) correct answers unique strengths, embedded deep within a firm, that
are critical to gaining and sustaining competitive advantage
Benchmarking (external) correct answers assessing how well one companies basic foundations
and skills compare with those of another company
, Corporate Strategies correct answers Concentration, Concentric Diversification, Conflomerate
Diversification, Backward Vertical Integration
Concentration correct answers When an organization focuses on one business and one industry
concentric diversification correct answers Organization takes what they're good at and makes
similar businesses
conglomerate diversification correct answers a strategy used to add new businesses that produce
unrelated products or are involved in unrelated markets and activities ( organization decides to
skip into places that they may night specialize in.) EX; apple initially starting with computers -
now they have streaming, phones, watches, etc
Backward vertical integration correct answers When a company owns the supplier or supply
process in the supply chain. Ex; apple owning their own store
Strategy Implementation Steps correct answers 1. Define strategic tasks
2. Assess organization capabilities
3. Develop an implementation agenda
4. Create an implementation plan
Total Quality Management (TQM) correct answers a management philosophy that focuses on
satisfying customers through empowering employees to be an active part of continuous quality
improvement
Quality Gurus correct answers Deming, Juran, Crosby
14 points of quality (WHO CREATED THIS?) correct answers DEMING
1. Create a constant purpose toward improvement.
2. Adopt the new philosophy.
3. Stop depending on inspections.
4. Use a single supplier for any one item.
5. Improve constantly and forever
6. Use training on the job.
7. Don't simply supervise
8. Eliminate fear.Allow people to perform at their best by ensuring that they're not afraid to
express ideas or concerns.
9. Break down barriers between departments.
10. Get rid of unclear slogans.
11. Eliminate management by objectives.
12. Remove barriers to pride of workmanship.
13. Implement education and self-improvement.
14. Make "transformation" everyone's job.
Total Quality Tools and Systems correct answers Six Sigma
