Exam (elaborations)
Test Prep - WGU - Principles of Management - C483 Questions and Answers Fully Solved
- Course
- Institution
Test Prep - WGU - Principles of Management - C483
[Show more]
Content preview
Test Prep - WGU - Principles ofManagement - C483
Delivery of products or services – answer A value chain is the sequence of activities
that begins with raw materials.
What result does a value chain end with?
Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services
Profit margins are increased. - answer What happens when an effective value chain is
created?
Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required.
Analysis of external opportunities and threats - answerIndustry and market analysis,
competitor analysis, and social analysis are examples of which step in the strategic
planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses
Strengths - answerSkilled management, positive cash flow, and well-known brands are
examples of which component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities
Core competencies - answerWhat denotes skills or expertise in an activity that
constitutes the roots of competitiveness in an organization?
,Choose 1 answer
Strategic values
Core competencies
Products and services
Opportunities and threats
Suppliers can reduce manufacturing time and increase product quality. -
answerAccording to Michael Porter's competitive environment model, how can suppliers
influence strategic planning?
Suppliers can reduce the threat from substitute products.
Suppliers can reduce the numbers of new entrants in the market.
Suppliers can reduce manufacturing time and increase product quality.
Suppliers can reduce technological, demographic, and legal threats in the environment.
Differentiation - answerA company offers unique products in its industry to create a
competitive advantage.
Which type of strategy is the company using?
Valorization
Differentiation
Customization
Standardization
Vertical integration - answerHappy 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?
Choose 1 answer
Vertical integration
Strategic alliances
Networking
Horizontal benchmarking
Strategic vision - answerA 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?
Choose 1 answer
, Strategic vision
Strategic mission
Strategic planning
Strategic management
Developing a strategic mission - answerWhat is the first step of organizational strategic
planning?
Choose 1 answer
Developing operational goals
Developing internal strengths
Developing a strategic mission
Developing external opportunities
Six Sigma - answerThe introduction of statistical tools to analyze the causes of product
defects is associated with which quality improvement approach?
Six Sigma
Flexible Process
Customer Process
Quality Customization
To revolutionize key organizational systems and processes - answerWhat is the
principal idea of reengineering?
Choose 1 answer
To analyze system failures
To focus on creating two-way exchanges with customers
To revolutionize key organizational systems and processes
To improve total quality in all businesses for the benefit of producers and consumers
Less than 3.4 - answerHow many defects per million are there at Six Sigma, assuming
a product or process is defect-free 99.99966% of the time?
Choose 1 answer
Less than 3.4
Less than 4.4
Less than 5.3
Less than 6.6
To take action to accomplish the transformation - answerWhat is the last step to
Deming's 14 points of quality management?
To cease dependence on mass inspection
To break down barriers among departments
To evaluate options provided by management
To take action to accomplish the transformation
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72349 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now