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WGU C483 Exam Guide (Latest 2025/ 2026 Update) Principles of Management | Questions & Answers| Grade A| 100% Correct (Verified Solutions)

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WGU C483 Exam Guide (Latest 2025/ 2026 Update) Principles of Management | Questions & Answers| Grade A| 100% Correct (Verified Solutions) QUESTION Business Strategy Answer: The major actions by which an organization builds and strengthens its competitive position in the marketplace. The major actions by which a business competes in a particular industry or market. QUESTION Functional strategy Answer: Strategies implemented by each functional area of the organization to support the organization's business strategy. QUESTION Strategy Implementation Steps Answer: Step 1: Define strategic tasks. Articulate in simple language what a particular business must do to create or sustain a competitive advantage. Define strategic tasks to help employees understand how they contribute to the organization, including redefining relationships among the parts of the organization. Step 2: Assess organization capabilities. Evaluate the organization's ability to implement the strategic tasks. A task force typically interviews employees and managers to identify specific issues that help or hinder effective implementation. Then the results are summarized for top management. In the course of your career, you will likely be asked to participate in a task force. Step 3: Develop an implementation agenda. Management decides how it will change its own activities and procedures; how critical inter-dependencies will be managed; what skills and individuals are needed in key roles; and what structures, measures, information, and rewards might ultimately support the needed behavior. A philosophy statement, communicated in terms of value, is the outcome of this process. Step 4: Create an implementation plan. The top management team, the employee task force, and others develop the implementation plan. The top management team then monitors progress. The employee task force continues its work by providing feedback about how others in the organization are responding to the changes. QUESTION Strategic control system Answer: A system designed to support managers in evaluating the organization's progress regarding its strategy and, when discrepancies exist, taking corrective action QUESTION Situational analysis Answer: A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration QUESTION The Basic Planning Process Answer: Step 1: Situational Analysis Step 2: Alternative Goals and Plans Step 3: Goal and Plan Evaluation Step 4: Goal and Plan Selection Step 5: Implementation Step 6: Monitor and Control QUESTION Contingency plans Answer: Sets of actions to be taken when a company's initial plans have not worked well or if events in the external environment require a sudden change. QUESTION The planning level with the shortest time horizon is known as _____ planning. Answer: Operational (<1 year) QUESTION The planning level with the longest time horizon is known as _____ planning. Answer: Strategic (3-7 years) QUESTION The planning level with a moderate time horizon is known as _____ planning. Answer:

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WGUl C483l Examl Guidel (Latestl 2025/l
2026l Update)l Principlesl ofl Managementl |l
Questionsl &l Answers|l Gradel A|l 100%l
Correctl (Verifiedl Solutions)

Q:l Businessl Strategy

Answer:
Thel majorl actionsl byl whichl anl organizationl buildsl andl strengthensl itsl competitivel
positionl inl thel marketplace.l Thel majorl actionsl byl whichl al businessl competesl inl al
particularl industryl orl market.




Q:l Functionall strategy

Answer:
Strategiesl implementedl byl eachl functionall areal ofl thel organizationl tol supportl thel
organization'sl businessl strategy.




Q:l Strategyl Implementationl Steps

Answer:
Stepl 1:l Definel strategicl tasks.l Articulatel inl simplel languagel whatl al particularl businessl
mustl dol tol createl orl sustainl al competitivel advantage.l Definel strategicl tasksl tol helpl
employeesl understandl howl theyl contributel tol thel organization,l includingl redefiningl
relationshipsl amongl thel partsl ofl thel organization.

Stepl 2:l Assessl organizationl capabilities.l Evaluatel thel organization'sl abilityl tol implementl
thel strategicl tasks.l Al taskl forcel typicallyl interviewsl employeesl andl managersl tol identifyl
specificl issuesl thatl helpl orl hinderl effectivel implementation.l Thenl thel resultsl arel

,summarizedl forl topl management.l Inl thel coursel ofl yourl career,l youl willl likelyl bel askedl
tol participatel inl al taskl force.l

Stepl 3:l Developl anl implementationl agenda.l Managementl decidesl howl itl willl changel itsl
ownl activitiesl andl procedures;l howl criticall inter-dependenciesl willl bel managed;l whatl
skillsl andl individualsl arel neededl inl keyl roles;l andl whatl structures,l measures,l
information,l andl rewardsl mightl ultimatelyl supportl thel neededl behavior.l Al philosophyl
statement,l communicatedl inl termsl ofl value,l isl thel outcomel ofl thisl process.

Stepl 4:l Createl anl implementationl plan.l Thel topl managementl team,l thel employeel taskl
force,l andl othersl developl thel implementationl plan.l Thel topl managementl teaml thenl
monitorsl progress.l Thel employeel taskl forcel continuesl itsl workl byl providingl feedbackl
aboutl howl othersl inl thel organizationl arel respondingl tol thel changes.




Q:l Strategicl controll system

Answer:
Al systeml designedl tol supportl managersl inl evaluatingl thel organization'sl progressl
regardingl itsl strategyl and,l whenl discrepanciesl exist,l takingl correctivel action




Q:l Situationall analysis

Answer:
Al processl plannersl use,l withinl timel andl resourcel constraints,l tol gather,l interpret,l andl
summarizel alll informationl relevantl tol thel planningl issuel underl consideration




Q:l Thel Basicl Planningl Process

Answer:
Stepl 1:l Situationall Analysis
Stepl 2:l Alternativel Goalsl andl Plans
Stepl 3:l Goall andl Planl Evaluationl
Stepl 4:l Goall andl Planl Selection

, Stepl 5:l Implementation
Stepl 6:l Monitorl andl Control




Q:l Contingencyl plans

Answer:
Setsl ofl actionsl tol bel takenl whenl al company'sl initiall plansl havel notl workedl welll orl ifl
eventsl inl thel externall environmentl requirel al suddenl change.




Q:l Thel planningl levell withl thel shortestl timel horizonl isl knownl asl _____l planning.

Answer:
Operationall (<1l year)




Q:l Thel planningl levell withl thel longestl timel horizonl isl knownl asl _____l planning.

Answer:
Strategicl (3-7l years)




Q:l Thel planningl levell withl al moderatel timel horizonl isl knownl asl _____l planning.

Answer:
Tacticall (1-2l years)




Q:l Inl al SWOTl analysis,l thel absencel ofl reliablel suppliersl wouldl bel consideredl asl
a(n):

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