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WGU C201 BUSINESS ACUMEN NEW VERSION ACTUAL EXAM 150 QUESTIONS AND COMPLETE SOLUTION A+GRADE
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WGU C201 BUSINESS ACUMEN NEW VERSION ACTUAL EXAM 150 QUESTIONS AND COMPLETE SOLUTION A+GRADE
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Page 1 of 24 1 WGU C201 BUSINESS ACUMEN NEW VERSION 2024 - 2025 ACTUAL EXAM 1 50 QUESTIONS AND COMPLETE SOLUTION A+GRADE What is Management? - ANSWER✅✅ 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. How do the jobs of top managers, middle managers, and supervisory managers differ? - ANSWER✅✅ 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 speci fic 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. What is the relationship between the managers planning and controlling functions? - ANSWER✅✅ Controlling assess the success of th e planning function. Controlling also produces feedback for the next round of planning. What is meant by a vision for the company? - ANSWER✅✅ A vision serves as a target for the company's actions, helping direct the company towards opportunities and differe ntiating it from its competitors. Why is it important for a top executive to set high ethical standards? - ANSWER✅✅ High ethical standards often result in a stable workforce, job satisfaction, and customer loyalty. Outline the planning process. - ANSWER✅✅ Some plans are very broad and long range, focusing on key organizational objectives; others are more detailed and specify how particular Page 2 of 24 2 objectives will be achieved. From the mission statement to objectives to specific plans, each phase must fit into compreh ensive planning framework. Describe the purpose of tactical planning. - ANSWER✅✅ The purpose of tactical planning is to determine which short -term activities should be implemented to accomplish the companies overall strategy. Compare the kinds of plans made by top managers and middle managers. - ANSWER✅✅ Top managers focus on long -range, strategic plans. In contrast, middle -level managers focus on short term tactical planning. What is the purpose of a mission statement? - ANSWER✅✅ A mission statement is a comp anies 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. Which of a company's characteristics does a SWOT analysis compare? - ANSWER✅✅ Strength, Weaknesses, Opportunities and Threats Compared to its competitors. How do managers use objectives? - ANSWER✅✅ Objectives set guideposts by which managers define the organizations desired performance in such areas as new product development, sales, customer service, and employee satisfaction. Distinguish between programmed and nonprogrammed decisions. - ANSWER✅✅ Programmed decisions are like ordering office supplies, simple and happen frequently - they are strea mlined. Non -programmed are like entering a new market or launching a new product - they require more individual evaluation. What are they steps in the decision -making process? - ANSWER✅✅ Recognition of problem or opportunity, development of alternatives, eva luation of alternatives, selection and implementation of chosen alternative, and follow up to determine the effectiveness of the decision. Page 3 of 24 3 How is leadership defined? - ANSWER✅✅ Leadership means directing or inspiring people to attain certain organizational goals. Effective leaders share several traits, such as empathy, self -awareness, and objectivity. Leaders also use the power of their job, expertise, and experience to influence people. Identify the styles of leadership as they appear along a continuum of g reater or lesser employee participation. - ANSWER✅✅ One end of the continuum Autocratic leaders makes decisions without consulting the employees. In the middle democratic leaders ask for suggestions and want participation. At the end is free -rein which lead ers leave most of the decisions to the employees. What is the relationship between leadership style and corporate culture? - ANSWER✅✅ The best leadership style to adopt often depends on the organizations corporate culture and its system of principals, belie fs, and values. Managerial philosophies, communications, networks, and workplace environment, and practices all influence culture. How do managers reinforce corporate culture? - ANSWER✅✅ Managers use symbols, rituals, ceremonies, and stories to reinforce co rporate culture. What is the purpose of an organizational chart? - ANSWER✅✅ A visual representation of a company's structure that illustrates the job positions and functions. What are the 5 major forms of departmentalization? - ANSWER✅✅ Product: different go ods and services an organization offers. Geographical: Units by regions. Customer: Units by different types of customers. Functional: Units by business activities like Marketing or Finance, etc. Process: Unit by steps or Work processes it takes to complete production or provide a service. What does management mean? - ANSWER✅✅ Or span of control - Numbers of employees the manager supervises.
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