WGU C483 Principles of Management Exam 186 Questions with
Verified Answers
Strategic Managers - CORRECT ANSWER Top-level Managers
Tactical Managers - CORRECT ANSWER Middle-level Managers
Operational Managers - CORRECT ANSWER Frontline Managers
S.M.A.R.T. Specific, Measurable, Attainable, Relevant, Time-bound - CORRECT
ANSWER Goals should be:
Set of procedures for making decisions about an organization's long-term goals
and strategies
Have a strong external orientation and cover major portions of the organization
Senior executives are responsible for the development and execution, although
they usually do not formulate or implement the entire plan personally - CORRECT
ANSWER Strategic Planning
Major targets or results that relate to the long-term survival, value, and growth of
the organization.
,Strategic managers usually establish goals that reflect both effectiveness and
efficiency
Include growth, increasing market share, improving profitability, boosting return
on investment, fostering both quantity and quality of outputs, increasing
productivity, improving customer service, and contributing to society - CORRECT
ANSWER Strategic Goals
Pattern of actions and resource allocations designed to achieve an organization's
goals
Where will we be active?
How will we get there?
How will we win in the marketplace?
How fast will we make changes?
How will we obtain financial returns? - CORRECT ANSWER A strategy
Set of procedures for translating broad strategic goals and plans into specific goals
and plans that are relevant to a distinct portion of an organization. (Marketing and
HR)
Focus on major actions a unit must take to fulfill it's part of the strategic plan -
CORRECT ANSWER Tactical Planning
Process of identifying the specific procedures and processes required at lower
levels of the organization
, Frontline managers usually focus of routine tasks such as production runs, delivery
schedules and human resource requirements - CORRECT ANSWER Operational
Planning
A clear and concise expression of the basic purpose of an organization - CORRECT
ANSWER Mission
Points to the future by providing perspective on where the organization is headed
and what it can become - CORRECT ANSWER Strategic Mission
Groups and individuals who affect and are affected by the achievement of the
organization's mission, goals and strategies - CORRECT ANSWER Stakeholders
Inputs to a system that can enhance performance - CORRECT ANSWER Resources
A unique skill and/or knowledge an organization possesses - CORRECT ANSWER
Core capability AKA Competence
Process of assessing how well one company's basic functions and skills compare
with those of another company or set of companies - CORRECT ANSWER
Benchmarking
Comparison of strengths, weaknesses, opportunities and threats that help
executives formulate strategies - CORRECT ANSWER SWOT Analysis
Verified Answers
Strategic Managers - CORRECT ANSWER Top-level Managers
Tactical Managers - CORRECT ANSWER Middle-level Managers
Operational Managers - CORRECT ANSWER Frontline Managers
S.M.A.R.T. Specific, Measurable, Attainable, Relevant, Time-bound - CORRECT
ANSWER Goals should be:
Set of procedures for making decisions about an organization's long-term goals
and strategies
Have a strong external orientation and cover major portions of the organization
Senior executives are responsible for the development and execution, although
they usually do not formulate or implement the entire plan personally - CORRECT
ANSWER Strategic Planning
Major targets or results that relate to the long-term survival, value, and growth of
the organization.
,Strategic managers usually establish goals that reflect both effectiveness and
efficiency
Include growth, increasing market share, improving profitability, boosting return
on investment, fostering both quantity and quality of outputs, increasing
productivity, improving customer service, and contributing to society - CORRECT
ANSWER Strategic Goals
Pattern of actions and resource allocations designed to achieve an organization's
goals
Where will we be active?
How will we get there?
How will we win in the marketplace?
How fast will we make changes?
How will we obtain financial returns? - CORRECT ANSWER A strategy
Set of procedures for translating broad strategic goals and plans into specific goals
and plans that are relevant to a distinct portion of an organization. (Marketing and
HR)
Focus on major actions a unit must take to fulfill it's part of the strategic plan -
CORRECT ANSWER Tactical Planning
Process of identifying the specific procedures and processes required at lower
levels of the organization
, Frontline managers usually focus of routine tasks such as production runs, delivery
schedules and human resource requirements - CORRECT ANSWER Operational
Planning
A clear and concise expression of the basic purpose of an organization - CORRECT
ANSWER Mission
Points to the future by providing perspective on where the organization is headed
and what it can become - CORRECT ANSWER Strategic Mission
Groups and individuals who affect and are affected by the achievement of the
organization's mission, goals and strategies - CORRECT ANSWER Stakeholders
Inputs to a system that can enhance performance - CORRECT ANSWER Resources
A unique skill and/or knowledge an organization possesses - CORRECT ANSWER
Core capability AKA Competence
Process of assessing how well one company's basic functions and skills compare
with those of another company or set of companies - CORRECT ANSWER
Benchmarking
Comparison of strengths, weaknesses, opportunities and threats that help
executives formulate strategies - CORRECT ANSWER SWOT Analysis
