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Principles of Management - C483 Exam
Questions And Answers 2025 Update.
A value chain is the sequence of activities that begins with raw materials. What result does the
value chain end with? - Answer✔Delivery of products or services.
What happens when an effective value chain is created? - Answer✔Profit margins are
increased.
Industry and market analysis, competitor analysis, and social analysis are examples of which
step in the strategic planning process? - 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? - Answer✔Strengths
What denotes skills or expertise in an activity that constitutes the roots of competitiveness in
an organization? - Answer✔Core Competencies
According to Michael Porter's competitive environment model, how can suppliers influence
strategic planning? - Answer✔Suppliers can reduce manufacturing time and increase product
quality.
A company offers unique products in its industry to create a competitive advantage. Which type
of strategy is the company using? - Answer✔Differentiation
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? - Answer✔Vertical Integration
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 franchise the business and become the best provider of its service in the
United States.
1
, ©FYNDLAY 2024/2025 ALL RIGHTS RESERVED 12:05PM.
What describes the owner's dream? - Answer✔Strategic Vision
What is the first step of organizational strategic planning? - Answer✔Developing a strategic
mission
The introduction of statistical tools to analyze the causes of product defects is associated with
which quality improvement approach? - Answer✔Six Sigma
What is the principal idea of re engineering? - Answer✔To revolutionize key organizational
systems and processes
How many defects per million are there at Six Sigma, assuming a product or process is defect-
free 99.99966% of the time? - Answer✔Less than 3.4
What is the last step to Deming's 14 points of quality management? - Answer✔To take action to
accomplish the transformation
Process checklists and project audits are components of which management process? -
Answer✔Quality Assurance
What is the main objective of an internal quality audit? - Answer✔To measure effectiveness of
an organization's quality management system.
A company is trying to systematically improve processes by eliminating nonconformity of their
products to product specifications. The company believes their continuous effort to reduce
variation in their process outputs is key to their business success.
Which quality process is the company utilizing? - Answer✔Six Sigma
Which concept entails all aspects of interaction a company has with its customers in both sales
and service-related environments? - Answer✔Customer relationship management
Dr. Ohmae indicates that customer, corporation, and competitors should be integrated in a
strategic triangle.
What does Dr. Ohmae indicate that an organization can obtain by doing this? -
Answer✔Sustained competitive Advantage
What designates those who take hands on responsibility for creating innovation such as new
ideas, products, or methods within an organization? - Answer✔Intrapreneur
Why is innovation an important element of entrepreneurship? - Answer✔Creates unique and
different products or services
Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open
minded, able to learn quickly, and skilled at conceptualizing.
2
Principles of Management - C483 Exam
Questions And Answers 2025 Update.
A value chain is the sequence of activities that begins with raw materials. What result does the
value chain end with? - Answer✔Delivery of products or services.
What happens when an effective value chain is created? - Answer✔Profit margins are
increased.
Industry and market analysis, competitor analysis, and social analysis are examples of which
step in the strategic planning process? - 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? - Answer✔Strengths
What denotes skills or expertise in an activity that constitutes the roots of competitiveness in
an organization? - Answer✔Core Competencies
According to Michael Porter's competitive environment model, how can suppliers influence
strategic planning? - Answer✔Suppliers can reduce manufacturing time and increase product
quality.
A company offers unique products in its industry to create a competitive advantage. Which type
of strategy is the company using? - Answer✔Differentiation
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? - Answer✔Vertical Integration
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 franchise the business and become the best provider of its service in the
United States.
1
, ©FYNDLAY 2024/2025 ALL RIGHTS RESERVED 12:05PM.
What describes the owner's dream? - Answer✔Strategic Vision
What is the first step of organizational strategic planning? - Answer✔Developing a strategic
mission
The introduction of statistical tools to analyze the causes of product defects is associated with
which quality improvement approach? - Answer✔Six Sigma
What is the principal idea of re engineering? - Answer✔To revolutionize key organizational
systems and processes
How many defects per million are there at Six Sigma, assuming a product or process is defect-
free 99.99966% of the time? - Answer✔Less than 3.4
What is the last step to Deming's 14 points of quality management? - Answer✔To take action to
accomplish the transformation
Process checklists and project audits are components of which management process? -
Answer✔Quality Assurance
What is the main objective of an internal quality audit? - Answer✔To measure effectiveness of
an organization's quality management system.
A company is trying to systematically improve processes by eliminating nonconformity of their
products to product specifications. The company believes their continuous effort to reduce
variation in their process outputs is key to their business success.
Which quality process is the company utilizing? - Answer✔Six Sigma
Which concept entails all aspects of interaction a company has with its customers in both sales
and service-related environments? - Answer✔Customer relationship management
Dr. Ohmae indicates that customer, corporation, and competitors should be integrated in a
strategic triangle.
What does Dr. Ohmae indicate that an organization can obtain by doing this? -
Answer✔Sustained competitive Advantage
What designates those who take hands on responsibility for creating innovation such as new
ideas, products, or methods within an organization? - Answer✔Intrapreneur
Why is innovation an important element of entrepreneurship? - Answer✔Creates unique and
different products or services
Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open
minded, able to learn quickly, and skilled at conceptualizing.
2
