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Principles of Management - C483 WGU (Pre-Assessment) Exam Questions and Answers 100% Solved 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,...

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Principles of Management - C483 WGU

(Pre-Assessment) Exam Questions and

Answers 100% Solved


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.

,©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
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.

,©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
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

, ©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
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

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