WPC 480 STUDY SET QUESTIONS WITH CORRECT ANSWERS LATEST UPDATE 2026
If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally -
Answers Stake out a unique position within the industry
John is a bit confused about the difference between stakeholders and stockholders. You meet with
john and inform him that the main difference is that - Answers Stakeholders can be both internal and
external while stockholders own shares a firm and are classified as internal to the firm
The minimum wage in the country of Hanns is $8 an hour. Delish, a restaurant in hann's capital city,
pays its servers 8 per hour. However, the management of the restaurant feels that his amount is
excessive for workers whose only job is to clear tables. By continuing to adhere to the rules set by the
government of hanns, which of the following responsibilities is delish satisfying? - Answers Legal
responsibilities
Lil Anthonys and Amelias are two restaurants serving Italian cuisine. While lil Anthonys focuses on
providing quick, affordable pasta dishes for the lunch crowd, amelias focuses on serving home-style
dishes in an upscale, romantic setting. Both companies have been able to gain a competitive
advantage. This is most likely because the companies have - Answers Pursued distinct strategic
positions
Which of the following terms describes the guiding policy to address the competitive challenge, and
uses corporate and business level strategy - Answers Formulation
As the ceo of conglomerate, sarah cane exhibited her strong commitment toward the companies core
value that customers well-being is more important than profit when she convinced the board of
directors to liquidate the companies pesticide subsidiary. The pesticide brand sold by her company
was a major revenue earner in lesser-developed nations, but studies indicate that it is a carcinogen.
Eva persuaded the board that the company had to be responsible toward society. In this scenario,
sarah has demonstrated - Answers Strategic leadership
Bob is exploring multiple suppliers in order to find the best price. However, instead of calling all eight
potential suppliers, he only reaches out to the first three and bases his selection on those instead of
contacting all suppliers. Bobs action best describes the concept of - Answers Satisficing
Doras supplies manufactures medical devices. The firms profitability depends on several variables that
are subject to occasional change, including the cost of parts and labor, changes in medical practices,
and the price of oil used in both manufacturing and shipping. To account for the potential impact of
changes ot any of these variables, doras supplies managers should implement a(n) ___ approach -
Answers Scenario planning
Which of the following methods of developing a strategy best illustrates scenario planning? - Answers
The managers at north clothing inc. formulated a strategy that can handle small to medium to large
increases in the prices of cotton in the future
The production head at the all paints and surface corp. Would frequently stay back after office hours
and experiment with new color combinations even though this was part of the new product
development team's job. As a result of these experiments, he came up with two new interior paint
colors, foggy morning and mint julep. The new colors proved popular among test groups, and quickly
became some of omnitones best-selling products. Which of the following strategies does this scenario
best illustrate? - Answers Emergent strategy
Due to economic recession Jabu, the profitability of the large corporation honeycomb Inc. was poor.
An analysis of the companies business showed that the company could become profitable if it
divested a few strategic business would honeycomb inc find it most easy to exit? - Answers The e-
commerce retail business, where investments on assets are low
Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air
tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet,
smaller travel agencies started mushrooming in the industry and customers started making their own
reservations. Which of the following can be inferred from this information? - Answers The travel
industry changed from a consolidated structure to a fragmented one.
According to porter's five forces approach, the overall goal of applying to the five forces analysis to an
industry is to make a judgment about its - Answers Overall attractiveness
Andrew is a management consultant. Hard supplies inc asks hime to evaluate their company, and he
finds that the difference between the cost of producing the firms products and the value of those
products is extremely narrow. What should andrew suggest that hard supplies inc. management do? -
Answers Find a way to widen the gap between cost and value
If a company wants to gain a competitive advantage in a highly competitive industry, it should ideally -
Answers Stake out a unique position within the industry
John is a bit confused about the difference between stakeholders and stockholders. You meet with
john and inform him that the main difference is that - Answers Stakeholders can be both internal and
external while stockholders own shares a firm and are classified as internal to the firm
The minimum wage in the country of Hanns is $8 an hour. Delish, a restaurant in hann's capital city,
pays its servers 8 per hour. However, the management of the restaurant feels that his amount is
excessive for workers whose only job is to clear tables. By continuing to adhere to the rules set by the
government of hanns, which of the following responsibilities is delish satisfying? - Answers Legal
responsibilities
Lil Anthonys and Amelias are two restaurants serving Italian cuisine. While lil Anthonys focuses on
providing quick, affordable pasta dishes for the lunch crowd, amelias focuses on serving home-style
dishes in an upscale, romantic setting. Both companies have been able to gain a competitive
advantage. This is most likely because the companies have - Answers Pursued distinct strategic
positions
Which of the following terms describes the guiding policy to address the competitive challenge, and
uses corporate and business level strategy - Answers Formulation
As the ceo of conglomerate, sarah cane exhibited her strong commitment toward the companies core
value that customers well-being is more important than profit when she convinced the board of
directors to liquidate the companies pesticide subsidiary. The pesticide brand sold by her company
was a major revenue earner in lesser-developed nations, but studies indicate that it is a carcinogen.
Eva persuaded the board that the company had to be responsible toward society. In this scenario,
sarah has demonstrated - Answers Strategic leadership
Bob is exploring multiple suppliers in order to find the best price. However, instead of calling all eight
potential suppliers, he only reaches out to the first three and bases his selection on those instead of
contacting all suppliers. Bobs action best describes the concept of - Answers Satisficing
Doras supplies manufactures medical devices. The firms profitability depends on several variables that
are subject to occasional change, including the cost of parts and labor, changes in medical practices,
and the price of oil used in both manufacturing and shipping. To account for the potential impact of
changes ot any of these variables, doras supplies managers should implement a(n) ___ approach -
Answers Scenario planning
Which of the following methods of developing a strategy best illustrates scenario planning? - Answers
The managers at north clothing inc. formulated a strategy that can handle small to medium to large
increases in the prices of cotton in the future
The production head at the all paints and surface corp. Would frequently stay back after office hours
and experiment with new color combinations even though this was part of the new product
development team's job. As a result of these experiments, he came up with two new interior paint
colors, foggy morning and mint julep. The new colors proved popular among test groups, and quickly
became some of omnitones best-selling products. Which of the following strategies does this scenario
best illustrate? - Answers Emergent strategy
Due to economic recession Jabu, the profitability of the large corporation honeycomb Inc. was poor.
An analysis of the companies business showed that the company could become profitable if it
divested a few strategic business would honeycomb inc find it most easy to exit? - Answers The e-
commerce retail business, where investments on assets are low
Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air
tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet,
smaller travel agencies started mushrooming in the industry and customers started making their own
reservations. Which of the following can be inferred from this information? - Answers The travel
industry changed from a consolidated structure to a fragmented one.
According to porter's five forces approach, the overall goal of applying to the five forces analysis to an
industry is to make a judgment about its - Answers Overall attractiveness
Andrew is a management consultant. Hard supplies inc asks hime to evaluate their company, and he
finds that the difference between the cost of producing the firms products and the value of those
products is extremely narrow. What should andrew suggest that hard supplies inc. management do? -
Answers Find a way to widen the gap between cost and value
