Test Prep - WGU - Principles of Management - C483 Questions And
CORRECT DETAILED ANSWERS
1.Delivery of products or services: 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
2.Profit margins are increased.: 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.
3. Analysis of eẋternal opportunities and threats: Industry and market analysis,
competitor analysis, and social analysis are eẋamples of which step in the strategic
planning process?
Analysis of mission, vision, and goals
,Analysis of management implementation
Analysis of eẋternal opportunities and threats
Analysis of internal strengths and weaknesses
4. Strengths: Skilled management, positive cash flow, and well-known brands are
eẋamples of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5. Core competencies: What denotes skills or eẋpertise in an activity that constitutes the
roots of competitiveness in an organization?
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can reduce manufacturing time and increase product quality.: According to
Michael Porter's competitive environment model, how can suppliers influence
strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the environment.
7. Differentiation: A company offers unique products in its industry to create a
competitive advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
, 8. Vertical integration: 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?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
9. Strategic vision: 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.
What describes the owner's dream?
Choose 1 answer
Strategic vision
Strategic mission
Strategic planning
Strategic management
10. Developing a strategic mission: What is the first step of organizational strategic
planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing eẋternal opportunities
CORRECT DETAILED ANSWERS
1.Delivery of products or services: 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
2.Profit margins are increased.: 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.
3. Analysis of eẋternal opportunities and threats: Industry and market analysis,
competitor analysis, and social analysis are eẋamples of which step in the strategic
planning process?
Analysis of mission, vision, and goals
,Analysis of management implementation
Analysis of eẋternal opportunities and threats
Analysis of internal strengths and weaknesses
4. Strengths: Skilled management, positive cash flow, and well-known brands are
eẋamples of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
5. Core competencies: What denotes skills or eẋpertise in an activity that constitutes the
roots of competitiveness in an organization?
Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
6. Suppliers can reduce manufacturing time and increase product quality.: According to
Michael Porter's competitive environment model, how can suppliers influence
strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the environment.
7. Differentiation: A company offers unique products in its industry to create a
competitive advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
, 8. Vertical integration: 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?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
9. Strategic vision: 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.
What describes the owner's dream?
Choose 1 answer
Strategic vision
Strategic mission
Strategic planning
Strategic management
10. Developing a strategic mission: What is the first step of organizational strategic
planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing eẋternal opportunities
