WGU - C483 Principles of Management
Exam Questions and Answers Graded A+
Conceptual and decision skills - Correct answer-Skills pertaining to the ability to
identify and resolve problems for the benefit of the organization and its members.
Controlling - Correct answer-The management function of monitoring performance
and making needed changes.
Cost competitiveness - Correct answer-Keeping costs low to achieve profits and be
able to offer prices that are attractive to consumers.
Emotional intelligence - Correct answer-The skills of understanding yourself,
managing yourself, and dealing effectively with others.
Frontline managers - Correct answer-Lower-level managers who supervise the
operational activities of the organization.
Innovation - Correct answer-The introduction of new goods and services.
Interpersonal and communication skills - Correct answer-People skills; the ability
to lead, motivate, and communicate effectively with others.
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,Knowledge management - Correct answer-Practices aimed at discovering and
harnessing an organization's intellectual resources.
Leading - Correct answer-The management function that involves the manager's
efforts to stimulate high performance by employees.
Management - Correct answer-The process of working with people and resources
to accomplish organizational goals.
Middle-level managers - Correct answer-Managers located in the middle layers of
the organizational hierarchy, reporting to top-level executives.
Organizing - Correct answer-The management function of assembling and
coordinating human, financial, physical, informational, and other resources needed
to achieve goals.
Planning - Correct answer-The management function of systematically making
decisions about the goals and activities that an individual, a group, a work unit, or
the overall organization will pursue.
Quality - Correct answer-The excellence of your product (goods or services).
Service - Correct answer-the speed and dependability with which an organization
delivers what customers want.
Social capital - Correct answer-Goodwill stemming from your social relationships.
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,Speed - Correct answer-Fast and timely execution, response, and delivery of
results.
Sustainability - Correct answer-The effort to minimize the use of resources,
especially those that are not polluting and nonrenewable.
Technical skill - Correct answer-The ability to perform a specialized task involving
a particular method or process.
Top-level managers - Correct answer-Senior executives responsible for the overall
management and effectiveness of the organization.
Value - Correct answer-The monetary amount associated with how well a job, task,
good, or service meets the user's needs.
Barriers to entry - Correct answer-Conditions that prevent new companies from
entering an industry
Benchmarking - Correct answer-The process of comparing an organization's
practices and technologies with those of other companies
Buffering - Correct answer-Creating supplies of excess resources in case of
unpredictable needs
Competitive environment - Correct answer-The immediate environment
surrounding a firm; includes suppliers, customers, rivals, and the like
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Competitive intelligence - Correct answer-Information that helps managers
determine how to compete better
Cooperative strategies - Correct answer-Strategies used by two or more working
organizations working together to manage the external environment
Defenders - Correct answer-Companies that stay within a stable product domain as
a strategic maneuver
Demographics - Correct answer-Measures of various characteristics of the people
who make up groups or other social units
Diversification - Correct answer-A firm's investment in a different product,
business, or geographic area
Divestiture - Correct answer-A firm selling one or more businesses
Domain selection - Correct answer-Entering a new market or industry with an
existing expertise
Empowerment - Correct answer-The process of sharing power with employees,
thereby enhancing their confidence in their ability to perform their jobs and their
belief that they are influential contributors to the organization
Environmental scanning - Correct answer-Searching for and sorting through
information about the environment
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Exam Questions and Answers Graded A+
Conceptual and decision skills - Correct answer-Skills pertaining to the ability to
identify and resolve problems for the benefit of the organization and its members.
Controlling - Correct answer-The management function of monitoring performance
and making needed changes.
Cost competitiveness - Correct answer-Keeping costs low to achieve profits and be
able to offer prices that are attractive to consumers.
Emotional intelligence - Correct answer-The skills of understanding yourself,
managing yourself, and dealing effectively with others.
Frontline managers - Correct answer-Lower-level managers who supervise the
operational activities of the organization.
Innovation - Correct answer-The introduction of new goods and services.
Interpersonal and communication skills - Correct answer-People skills; the ability
to lead, motivate, and communicate effectively with others.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Knowledge management - Correct answer-Practices aimed at discovering and
harnessing an organization's intellectual resources.
Leading - Correct answer-The management function that involves the manager's
efforts to stimulate high performance by employees.
Management - Correct answer-The process of working with people and resources
to accomplish organizational goals.
Middle-level managers - Correct answer-Managers located in the middle layers of
the organizational hierarchy, reporting to top-level executives.
Organizing - Correct answer-The management function of assembling and
coordinating human, financial, physical, informational, and other resources needed
to achieve goals.
Planning - Correct answer-The management function of systematically making
decisions about the goals and activities that an individual, a group, a work unit, or
the overall organization will pursue.
Quality - Correct answer-The excellence of your product (goods or services).
Service - Correct answer-the speed and dependability with which an organization
delivers what customers want.
Social capital - Correct answer-Goodwill stemming from your social relationships.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Speed - Correct answer-Fast and timely execution, response, and delivery of
results.
Sustainability - Correct answer-The effort to minimize the use of resources,
especially those that are not polluting and nonrenewable.
Technical skill - Correct answer-The ability to perform a specialized task involving
a particular method or process.
Top-level managers - Correct answer-Senior executives responsible for the overall
management and effectiveness of the organization.
Value - Correct answer-The monetary amount associated with how well a job, task,
good, or service meets the user's needs.
Barriers to entry - Correct answer-Conditions that prevent new companies from
entering an industry
Benchmarking - Correct answer-The process of comparing an organization's
practices and technologies with those of other companies
Buffering - Correct answer-Creating supplies of excess resources in case of
unpredictable needs
Competitive environment - Correct answer-The immediate environment
surrounding a firm; includes suppliers, customers, rivals, and the like
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Competitive intelligence - Correct answer-Information that helps managers
determine how to compete better
Cooperative strategies - Correct answer-Strategies used by two or more working
organizations working together to manage the external environment
Defenders - Correct answer-Companies that stay within a stable product domain as
a strategic maneuver
Demographics - Correct answer-Measures of various characteristics of the people
who make up groups or other social units
Diversification - Correct answer-A firm's investment in a different product,
business, or geographic area
Divestiture - Correct answer-A firm selling one or more businesses
Domain selection - Correct answer-Entering a new market or industry with an
existing expertise
Empowerment - Correct answer-The process of sharing power with employees,
thereby enhancing their confidence in their ability to perform their jobs and their
belief that they are influential contributors to the organization
Environmental scanning - Correct answer-Searching for and sorting through
information about the environment
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
