Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
1. Delivery of products or services: 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
2. Profit margins are increased.: 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.
3. Analysis of external opportunities and threats: 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
4. Strengths: Skilled management, positive cash flow, and well-known brands are examples of which component
of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5. Core competencies: What denotes skills or expertise in an activity that constitutes the roots of competi-
tiveness in an organization?
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can reduce manufacturing time and increase product quality.: Ac-
cording 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.
7. Differentiation: 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
8. Vertical integration: 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
9. Strategic vision: 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
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
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
10. Developing a strategic mission: What is the first step of organizational strategic planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
11. Six Sigma: The introduction of statistical tools to analyze the causes of product defects is associated with
which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
Quality Customization
12. To revolutionize key organizational systems and processes: What is the principal
idea of reengineering?
Choose 1 answer
To analyze system failures
To focus on creating two-way exchanges with customers
To revolutionize key organizational systems and processes
To improve total quality in all businesses for the benefit of producers and consumers
13. Less than 3.4: How many defects per million are there at Six Sigma, assuming a product or process is
defect-free 99.99966% of the time?
Study online at https://quizlet.com/_3lomtm
1. Delivery of products or services: 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
2. Profit margins are increased.: 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.
3. Analysis of external opportunities and threats: 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
4. Strengths: Skilled management, positive cash flow, and well-known brands are examples of which component
of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5. Core competencies: What denotes skills or expertise in an activity that constitutes the roots of competi-
tiveness in an organization?
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can reduce manufacturing time and increase product quality.: Ac-
cording 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.
7. Differentiation: 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
8. Vertical integration: 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
9. Strategic vision: 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
, Test Prep - WGU - Principles of Management - C483
Study online at https://quizlet.com/_3lomtm
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
10. Developing a strategic mission: What is the first step of organizational strategic planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
11. Six Sigma: The introduction of statistical tools to analyze the causes of product defects is associated with
which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
Quality Customization
12. To revolutionize key organizational systems and processes: What is the principal
idea of reengineering?
Choose 1 answer
To analyze system failures
To focus on creating two-way exchanges with customers
To revolutionize key organizational systems and processes
To improve total quality in all businesses for the benefit of producers and consumers
13. Less than 3.4: How many defects per million are there at Six Sigma, assuming a product or process is
defect-free 99.99966% of the time?
