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Business Acumen C201 WGU: Questions And Answers
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Business Acumen C201 WGU: Questions And Answers
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Business Acumen C201 WGU: Questions And AnswersWhich two key elements does an effective organization include? Correct Ans - Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis situation? Correct Ans - It establishes a direct flow of authority
A company might divide itself into smaller groups that best match the types of
customers it serves. What is this an example of? Correct Ans - Departmentalization
Which primary driver does management use for an organization's structure? Correct Ans - Achievement of company goals
Which step in the organizing process results in management grouping work activities into units within the organization? Correct Ans - Departmentalization
A high-tech startup company is launching a marketing campaign for its new social media portal by highlighting how the portal exceeds the connectivity and collaboration capabilities of all other social media sites.
Which type of competitive advantage is this company leveraging? Correct Ans - product
Which marketing strategy is devoted to maintaining continuous bottom line prices rather than relying on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales? Correct Ans - Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to market a product better than a push strategy? Correct Ans - When demand for the product is driven by the end user Which marketing tool is often used to build effective relationship marketing campaigns? Correct Ans - Affinity Programs
Which element of the promotional mix has the advantage of messaging that can be tailored for each customer but the disadvantage of a high cost per contact? Correct Ans - Personal Selling
What three factors should be addressed in a successful marketing plan? Correct Ans - Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation? Correct Ans - Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-
buying behavior? Correct Ans - A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
Which three factors suggest a product should be marketed as a specialty product? Correct Ans - Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising more than personal selling? Correct Ans - Accessories to primary products
Consumable supplies
After years of marketing a body lotion, a cosmetics company begins promoting the lotion as an insect repellent as well.In which three product life cycle extension strategies did this company engage? Correct Ans - Adding new users, finding new uses for the product, increasing frequency of use.
What are three qualities of strong brand equity? Correct Ans - Awareness, Loyalty and favorable images A customer intends to purchase her favorite cereal. It is out of stock, so she purchases an alternative brand of cereal instead.Which stage of brand loyalty is this customer in? Correct Ans - brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a global package delivery service? Correct Ans - Direct
Which three tasks are key responsibilities of operations managers? Correct Ans - Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
Which two characteristics does a Just-In-Time (JIT) System have? Correct Ans - Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in operations
activities.
Which aspect of operations management do the ISO 9000 standards address? Correct Ans - Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of customized products cost effectively? Correct Ans - Flexible
Which two of the following distribution channels would take title of the products they handle? Correct Ans - Limited-function merchant wholesaler
Full-function merchant wholesaler
Which economic graph is used by organizations to regulate production by predicting the amount of product buyers will purchase at different prices? Correct Ans - Demand Curve
Which two factors drive demand in a microeconomic system? Correct Ans - Price of substitute goods
Customer preference How does a sudden shortage of a commodity product affect the immediate demand for the product at its current price? Correct Ans - Demand increases
Which two impacts result from a nation's increase in productivity? Correct Ans - Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an expansionary monetary policy? Correct Ans - To encourage bankers to
make loans
To cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S. government reduces the number of Treasury bills, Treasury Notes, and Treasury bonds it sells? Correct Ans - A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
What is one role of a financial manager? Correct Ans - Analyzing major
investment decisions
Which two activities are finance activities rather than accounting activities? Correct Ans - Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term funding source? Correct Ans - Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation of paying off the current year's tax liability? Correct Ans - commerical paper
Which role does the underwriter play in financing business operations when using the capital market to sell securities to the public? Correct Ans - It
assumes the risk of the assessed value of the security from the issuer.
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