WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/2025
Course
Business acumen
Institution
Business Acumen
WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/2025WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/2025WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/2025WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/2025WGU C201 BUSINESS ACUMEN EXAM WITH CORRECT ANSWERS 2024/202...
WGU C201 BUSINESS ACUMEN
EXAM WITH CORRECT ANSWERS
2024/2025
1. What is Management? - ANS ✔Management is the process of
achieving Organizational objectives through people and other
resources. The Manager's job is to combine Human and Technical
resources in the best way possible to achieve the company's goals.
2. How do the jobs of top managers, middle managers, and
supervisory managers differ? - ANS ✔Top managers design long
term plans, set a direction for their organization and inspire all
employees to achieve the company's vision. Middle managers focus
on the specific mission and operations, products, or customers. They
develop procedures to implement the company's strategic plans.
Supervisory interact directly with non-management employees, who
produce and sell the companies goods and services. They are
responsible for implementing the plans developed by middle
managers and motivating workers to accomplish daily, weekly, and
monthly goals.
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,WGU C201 BUSINESS ACUMEN
3. What is the relationship between the managers planning and
controlling functions? - ANS ✔Controlling assess the success of the
planning function. Controlling also produces feedback for the next
round of planning.
4. What is meant by a vision for the company? - ANS ✔A vision
serves as a target for the company's actions, helping direct the
company towards opportunities and differentiating it from its
competitors.
5. Why is it important for a top executive to set high ethical
standards? - ANS ✔High ethical standards often result in a stable
workforce, job satisfaction, and customer loyalty.
6. Outline the planning process. - ANS ✔Some plans are very broad
and long range, focusing on key organizational objectives; others are
more detailed and specify how particular objectives will be achieved.
From the mission statement to objectives to specific plans, each
phase must fit into comprehensive planning framework.
7. Describe the purpose of tactical planning. - ANS ✔The purpose of
tactical planning is to determine which short-term activities should
be implemented to accomplish the companies overall strategy.
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8. Compare the kinds of plans made by top managers and middle
managers. - ANS ✔Top managers focus on long-range, strategic
plans. In contrast, middle-level managers focus on short term tactical
planning.
9. What is the purpose of a mission statement? - ANS ✔A mission
statement is a companies written explanation of its purpose, the
reason it exists, the customers it will serve, and how it is different
from its competitors. A mission statement guides the actions of its
company, managers, and employees.
10. Which of a company's characteristics does a SWOT analysis
compare? - ANS ✔Strength, Weaknesses, Opportunities and Threats
Compared to its competitors.
11. How do managers use objectives? - ANS ✔Objectives set
guideposts by which managers define the organizations desired
performance in such areas as new product development, sales,
customer service, and employee satisfaction.
12. Distinguish between programmed and nonprogrammed
decisions. - ANS ✔Programmed decisions are like ordering office
supplies, simple and happen frequently- they are streamlined. Non-
programmed are like entering a new market or launching a new
product- they require more individual evaluation.
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