Test Prep - WGU - Principles of Management - C483 questions with correct answers

Delivery of products or services - Answer 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 Profit margins are increased. - Answer 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. Analysis of external opportunities and threats - Answer Industry and market analysis, competitor analysis, and social analysis are examples of which step in the strategic planning process? Analysis of mission, vision, and goals