WGU C483 Principles of
Management Final Exam Questions
With 100% Correct Answers Latest
Updated 2024/2025 (Graded A+)
Save
Terms in this set (99)
Describe Making decisions about the
strategic organization's long-term goals and
planning strategies
Describe major target long-term goals that
strategic goals are effective and efficient
, pattern of actions and resource
allocations designed to achieve the
goals of the organization. 1. Where
will we be active? 2. How will we get
there (increase sales or acquire
another company)? 3. How will we
win the in the marketplace (keep
prices low or offer the best service)?
describe
4. how fast will we move in what
strategy
sequence will we make the
changes? 5.How will we obtain
financial returns (low cost or
premium prices)? *In setting a
strategy, managers try to match the
organization's skills and resources to
the opportunities found in the
external environment.
, Core Capability: (or competence)
when resources are valuable, rare,
Explain what a inimitable, and organized. Something
Core company does especially well
Competency/ relative to its competitors. (EX:
Capability means Honda small engine) Core
for an competencies typically refers to a
organization. set of skills or expertise in some
activity rather than physical or
financial assets.
Porter's 5 Model is a
method used to help
managers analyze the
competitive
environment and
adapt to or influence
Porter's 5 Model
the nature of their
competition.
, 1. understand the competitive
environment, organization's must
identify competitors.
2. analyze how to compete.
3. new entrants (Netflix took out
blockbuster)
4. substitutes and complements
(coke for starbucks; starbucks
complement is a cake pop) 5.
suppliers: switching costs ( fixed
Describe Porter's
costs buyers face when they change
5 Model and
suppliers), supply chain management
how it is used in
( managing of the network of
the strategic
facilities and people that obtain
planning
materials from outside the
process.
organization, transform them into
products, and distribute them to
customers.)
6. customers: without customers a
company wont survive (final
customer ex: mcdonalds)
(Intermediate customer ex: customer
who purchases raw materials or
wholesale products before selling
them)
Management Final Exam Questions
With 100% Correct Answers Latest
Updated 2024/2025 (Graded A+)
Save
Terms in this set (99)
Describe Making decisions about the
strategic organization's long-term goals and
planning strategies
Describe major target long-term goals that
strategic goals are effective and efficient
, pattern of actions and resource
allocations designed to achieve the
goals of the organization. 1. Where
will we be active? 2. How will we get
there (increase sales or acquire
another company)? 3. How will we
win the in the marketplace (keep
prices low or offer the best service)?
describe
4. how fast will we move in what
strategy
sequence will we make the
changes? 5.How will we obtain
financial returns (low cost or
premium prices)? *In setting a
strategy, managers try to match the
organization's skills and resources to
the opportunities found in the
external environment.
, Core Capability: (or competence)
when resources are valuable, rare,
Explain what a inimitable, and organized. Something
Core company does especially well
Competency/ relative to its competitors. (EX:
Capability means Honda small engine) Core
for an competencies typically refers to a
organization. set of skills or expertise in some
activity rather than physical or
financial assets.
Porter's 5 Model is a
method used to help
managers analyze the
competitive
environment and
adapt to or influence
Porter's 5 Model
the nature of their
competition.
, 1. understand the competitive
environment, organization's must
identify competitors.
2. analyze how to compete.
3. new entrants (Netflix took out
blockbuster)
4. substitutes and complements
(coke for starbucks; starbucks
complement is a cake pop) 5.
suppliers: switching costs ( fixed
Describe Porter's
costs buyers face when they change
5 Model and
suppliers), supply chain management
how it is used in
( managing of the network of
the strategic
facilities and people that obtain
planning
materials from outside the
process.
organization, transform them into
products, and distribute them to
customers.)
6. customers: without customers a
company wont survive (final
customer ex: mcdonalds)
(Intermediate customer ex: customer
who purchases raw materials or
wholesale products before selling
them)
