Wgu C201 Business Acumen Questions With Answers

WGU C201 BUSINESS ACUMEN /\ /\ /\ /\




QUESTIONS WITH ANSWERS /\ /\




What is Management? - CORRECT ANSWERS ✔✔Management is the
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process of achieving Organizational objectives through people and other
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resources. The Manager's job is to combine Human and Technical resources
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in the best way possible to achieve the company's goals.
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How do the jobs of top managers, middle managers, and supervisory
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managers differ? - CORRECT ANSWERS ✔✔Top managers design long term
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plans, set a direction for their organization and inspire all employees to
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achieve the company's vision. Middle managers focus on the specific mission
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and operations, products, or customers. They develop procedures to
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implement the company's strategic plans. Supervisory interact directly with
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non-management employees, who produce and sell the companies goods and /\ /\ /\ /\ /\ /\ /\ /\ /\ /\




services. They are responsible for implementing the plans developed by
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middle managers and motivating workers to accomplish daily, weekly, and
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monthly goals. /\




What is the relationship between the managers planning and controlling
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functions? - CORRECT ANSWERS ✔✔Controlling assess the success of the
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planning function. Controlling also produces feedback for the next round of
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planning.

,What is meant by a vision for the company? - CORRECT ANSWERS ✔✔A
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vision serves as a target for the company's actions, helping direct the
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company towards opportunities and differentiating it from its competitors.
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Why is it important for a top executive to set high ethical standards? -
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CORRECT ANSWERS ✔✔High ethical standards often result in a stable
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workforce, job satisfaction, and customer loyalty. /\ /\ /\ /\ /\




Outline the planning process. - CORRECT ANSWERS ✔✔Some plans are
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very broad and long range, focusing on key organizational objectives; others
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are more detailed and specify how particular objectives will be achieved.
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From the mission statement to objectives to specific plans, each phase must
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fit into comprehensive planning framework.
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Describe the purpose of tactical planning. - CORRECT ANSWERS ✔✔The
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purpose of tactical planning is to determine which short-term activities
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should be implemented to accomplish the companies overall strategy.
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Compare the kinds of plans made by top managers and middle managers. -
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CORRECT ANSWERS ✔✔Top managers focus on long-range, strategic
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plans. In contrast, middle-level managers focus on short term tactical
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planning.



What is the purpose of a mission statement? - CORRECT ANSWERS ✔✔A
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mission statement is a companies written explanation of its purpose, the
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reason it exists, the customers it will serve, and how it is different from its
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competitors. A mission statement guides the actions of its company,
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managers, and employees. /\ /\

, Which of a company's characteristics does a SWOT analysis compare? -
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CORRECT ANSWERS ✔✔Strength, Weaknesses, Opportunities and Threats
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Compared to its competitors. /\ /\ /\




How do managers use objectives? - CORRECT ANSWERS ✔✔Objectives set
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guideposts by which managers define the organizations desired performance
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in such areas as new product development, sales, customer service, and
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employee satisfaction. /\




Distinguish between programmed and nonprogrammed decisions. -
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CORRECT ANSWERS ✔✔Programmed decisions are like ordering office
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supplies, simple and happen frequently- they are streamlined. Non-
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programmed are like entering a new market or launching a new product-
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they require more individual evaluation.
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What are they steps in the decision-making process? - CORRECT ANSWERS
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✔✔Recognition of problem or opportunity, development of alternatives, /\ /\ /\ /\ /\ /\ /\ /\




evaluation of alternatives, selection and implementation of chosen alternative,
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and follow up to determine the effectiveness of the decision.
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How is leadership defined? - CORRECT ANSWERS ✔✔Leadership means
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directing or inspiring people to attain certain organizational goals. Effective
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leaders share several traits, such as empathy, self-awareness, and objectivity.
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Leaders also use the power of their job, expertise, and experience to
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influence people. /\