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WGU C483 - Principles of Management Questions and Answers Fully Solved
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WGU C483 - Principles of Management
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WGU C483 - Principles of ManagementAccommodation - answer A style of dealing with conflict involving cooperation on behalf
of the other party but not being assertive about one's own interests
Accountability - answer The expectation that employees will perform a job, take
corrective action when necessary, and report upward on the status and quality of their
performance
Accounting audits - answer Procedures used to verify accounting reports and
statements
Acquisition - answer One firm buying another
Activity-based costing (ABC) - answer A method of cost accounting designed to identify
streams of activity and then to allocate costs across particular business processes
according to the amount of time employees devote to particular activities
Adapters - answer Companies that take the current industry structure and its evolution
as givens, and choose where to compete
Adverse impact - answer When a seemingly neutral employment practice has a
disproportionately negative effect on a protected group
Advertising support model - answer Charging fees to advertise on a site
Affective conflict - answer Emotional disagreement directed toward other people
Affiliate model - answer Charging fees to direct site visitors to other companies' sites
Affirmative action - answer Special efforts to recruit and hire qualified members of
groups that have been discriminated against in the past
After-action review - answer A frank and open-minded discussion of four basic
questions aimed at continuous improvement
Alderfer's ERG theory - answer A human needs theory postulating that people have
three basic sets of needs that can operate simultaneously (Existence, Relatedness and
Growth)
Arbitration - answer The use of a neutral third party to resolve a labor dispute
,Assessment center - answer A managerial performance test in which candidates
participate in a variety of exercises and situations
Assets - answer The values of the various items the corporation owns
Authentic leadership - answerA style in which the leader is true to himself or herself
while leading
Authority - answerThe legitimate right to make decisions and to tell other people what to
do
Autocratic leadership - answerA form of leadership in which the leader makes decisions
on his or her own and then announces those decisions to the group
Autonomous work groups - answerGroups that control decisions about and execution of
a complete range of tasks
Avoidance - answerA reaction to conflict that involves ignoring the problem by doing
nothing at all or deemphasizing the disagreement
Balanced scorecard - answerControl system combining four sets of performance
measures: financial, customer, business process, and learning and growth
Balance sheet - answerA report that shows the financial picture of a company at a given
time and itemizes assets, liabilities, and stockholders' equity
Barriers to entry - answerConditions that prevent new companies from entering an
industry
Behavioral approach - answerA leadership perspective that attempts to identify what
good leaders do—that is, what behaviors they exhibit
Benchmarking - answerThe process of comparing an organization's practices and
technologies with those of other companies
Bootlegging - answerInformal work on projects, other than those officially assigned, of
employees' own choosing and initiative
Boundaryless organization - answerOrganization in which there are no barriers to
information flow
Boundary-spanning - answerInteracting with people in other groups, thus creating
linkages between groups
, Bounded rationality - answerA less-than-perfect form of rationality in which decision
makers cannot be perfectly rational because decisions are complex and complete
information is unavailable or cannot be fully processed
Brainstorming - answerA process in which group members generate as many ideas
about a problem as they can; criticism is withheld until all ideas have been proposed
Broker - answerA person who assembles and coordinates participants in a network
Budgeting - answerThe process of investigating what is being done and comparing the
results with the corresponding budget data to verify accomplishments or remedy
differences; also called budgetary controlling
Buffering - answerCreating supplies of excess resources in case of unpredictable needs
Bureaucratic control - answerThe use of rules, regulations, and authority to guide
performance
Business accelerators - answerOrganization that provides support and advice to help
young businesses grow
Business ethics - answerThe moral principles and standards that guide behavior in the
world of business
Business incubators - answerProtected environments for new, small businesses
Business plan - answerA formal planning step that focuses on the entire venture and
describes all the elements involved in starting it
Business strategy - answerThe major actions by which a business competes in a
particular industry or market
Cafeteria benefit program - answerAn employee benefit program in which employees
choose from a menu of options to create a benefit package tailored to their needs
Carbon footprint - answerThe output of carbon dioxide and other greenhouses gases
Caux Principles - answerEthical principles established by international executives based
in Caux, Switzerland, in collaboration with business leaders from Japan, Europe, and
the United States
Centralized organization - answerAn organization in which high-level executives make
most decisions and pass them down to lower levels for implementation
Certainty - answerThe state that exists when decision makers have accurate and
comprehensive information
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