WGU C483 Practice Test 100% Correctly Answered

WGU C483 Practice Test 100% Correctly Answered 1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical - Answer- A 2.)The planning process is similar to the _____ process in that both have a series of steps that are typically repeated in a cycle. A)strategy-mapping B)tactical alignment C)goal-setting D)decision-making E)environmental analysis - Answer- D 3.)In a SWOT analysis, the absence of reliable suppliers would be considered as a(n): A)weakness and a threat. B)weakness. C)strength. D)opportunity. E)threat. - Answer- B 4.)A _____ system is a component of the strategic management process designed to support managers in evaluating the organization's progress with its strategy and, when discrepancies exist, taking corrective action. A)span of control B)strategic control C)strategic support D)dynamic network E)strategic integration - Answer- B 5.)The strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions is known as a(n) _____ strategy. A)integrated B)differentiation C)functional D)low-cost E)concentration - Answer- B 6.)Which of the following is one among the six components of the strategic management process? A)Skill improvement plan B)Technology assessment C)Stakeholder analysis D)SWOT analysis E)Stockholder reporting - Answer- D 7.)Which of the following takes place after a firm formulates its strategy? A)Establishment of mission, vision, and goals B)Analysis of external opportunities and threats C)Strategy implementation D)Analysis of internal strengths and weaknesses E)SWOT analysis - Answer- C 8.)A vertical integration strategy is a strategy: A)used to add new businesses that produce related products or are involved in related markets and activities. B)that involves expanding the domain of the organization into supply channels or to distributors. C)employed for an organization that operates a single business and competes in a single industry. D)used to add new businesses that produce unrelated products or are involved in unrelated markets and activities. E)an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. - Answer- B 9.)_____ is considered as an activity of the external environment of an organization. Refer To: Table 4.1 A)Human resources assessment B)Financial analysis C)Marketing Audit D)Macroeconomic Analysis E)Operations Analysis - Answer- D 10.)Benchmarking is the process of assessing how well one company's basic functions and skills compare with: A)government standards. B)supplier and distributor requirements. C)those of another company. D)customer expectations. E)stockholder demands. - Answer- C 11.)_____ include sets of actions to be taken when a company's initial plans have not worked well or if events in the external environment require a sudden change. A)Functional plans B)Contingency plans C)Strategic maps D)Differentiation strategies E)Business incubators - Answer- B 12.)Which of the following is true of operational planning? A)It is a long-term plan spanning over three years. B)It is performed by top level managers. C)It identifies specific plans and procedures. D)It focuses only on processes required in the higher organizational levels. E)It translates broad strategic goals into specific goals. - Answer- C 13.)The most effective _____ statements inspire organization members, offering a worthwhile target for the entire organization to work togethe