WGU C483 Principles of Management (Pre-
Assessment) | 117 Questions with 100%
Correct Answers| Graded A+
Industry and market analysis, competitor analysis, and social analysis are examples of
which step in the strategic planning process? - -Analysis of external opportunities and
threats
-Skilled management, positive cash flow, and well-known brands are examples of which
component of the SWOT analysis? - -Strengths
-What denotes skills or expertise in an activity that constitutes the roots of
competitiveness in an organization? - -Core competencies
-According to Michael Porter's competitive environment model, how can suppliers
influence strategic planning? - -Suppliers can reduce manufacturing time and increase
product quality.
-A company offers unique products in its industry to create a competitive advantage.
Which type of strategy is the company using? - -Differentiation
-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? - -Vertical integration
,-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? - -Strategic vision
-What is the first step of organizational strategic planning? - -Developing a strategic
mission
-A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with? - -Delivery of products or services
-What happens when an effective value chain is created? - -Profit margins are
increased.
-The introduction of statistical tools to analyze the causes of product defects is
associated with which quality improvement approach? - -Six Sigma
-What is the principal idea of reengineering? - -To revolutionize key organizational
systems and processes
-How many defects per million are there at Six Sigma, assuming a product or process is
defect-free 99.99966% of the time? - -Less than 3.4
-What is the last step to Deming's 14 points of quality management? - -To take action
to accomplish the transformation
-Process checklists and project audits are components of which management process? -
-Quality Assurance
, -What is the main objective of an internal quality audit? - -To measure effectiveness of
an organization's quality management system
-A company is trying to systematically improve processes by eliminating nonconformity
of their products to product specifications. The company believes their continuous effort
to reduce variation in their process outputs is key to their business success.
Which quality process is the company utilizing? - -Six Sigma
-Which concept entails all aspects of interaction a company has with its customers in
both sales and service-related environments? - -Customer relationship management
-Dr. Ohmae indicates that customer, corporation, and competitors should be integrated
in a strategic triangle.
What does Dr. Ohmae indicate that an organization can obtain by doing this? - -
Sustained competitive advantage
-What designates those who take hands-on responsibility for creating innovation such
as new ideas, products, or methods within an organization? - -Intrapreneur
-Why is innovation an important element of entrepreneurship? - -Creates unique and
different products or services
-Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are
open-minded, able to learn quickly, and skilled at conceptualizing.
Which entrepreneurial personality trait is this? - -Creativity, self-reliance, and ability to
adapt
-Which personality characteristics are believed to contribute to an entrepreneur's
success? - -Determination
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