Test Prep - WGU - Principles of Management - C483 questions with complete solutions
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 correct answer: Delivery of products or services 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. correct answer: Profit margins are increased. 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 correct answer: Analysis of external opportunities and threats Skilled management, positive cash flow, and well-known brands are examples of which component of the SWOT analysis? Threats
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test prep wgu principles of management c483 questions with complete solutions
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