Business Acumen C201 WGU Questions with solutions 2024

Business Acumen C201 WGU Questions with solutions 2024 Human Interaction & Structure Which two key elements does an effective organization include? It establishes a direct flow of authority Why does a line organization structure function most effectively in a crisis situation? Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:09 / 0:15 Full screen Departmentalization A company might divide itself into smaller groups that best match the types of customers it serves. What is this an example of? Achievement of company goals Which primary driver does management use for an organization's structure? Departmentalization Which step in the organizing process results in management grouping work activities into units within the organization? product 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? Everyday Low Pricing 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? When demand for the product is driven by the end user When would a pull promotional strategy enhance a competitive advantage to market a product better than a push strategy? Affinity Programs Which marketing tool is often used to build effective relationship marketing campaigns? Personal Selling 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? Target Market, Sales Revenue Goals and Plan Implementation Timeline What three factors should be addressed in a successful marketing plan? Race & Ethnicity, Income and Household Size Which three characteristics are measured in demographic segmentation? 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 In which three ways does business-buying behavior differ from consumer-buying behavior? Priced high Purchased infrequently Available from a small number of retail outlets Which three factors suggest a product should be marketed as a specialty product? Accessories to primary products Consumable supplies With which two types of products does a marketing strategy rely on advertising more than personal selling? Adding new users, finding new uses for the product, increasing frequency of use. 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? Awareness, Loyalty and favorable images What are three qualities of strong brand equity? brand preference 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? Direct Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a global package delivery service? Planning the overall production process Determining the best layout for the firm's facilities Implementing the production plan Which three tasks are key responsibilities of operations managers? 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 two characteristics does a Just-In-Time (JIT) System have? Establishment of effective quality systems Which aspect of operations management do the ISO 9000 standards address? Flexible Which manufacturing model uses technology to produce small runs of customized products cost effectively? Limited-function merchant wholesaler Full-function merchant wholesaler Which two of the following distribution channels would take title of the products they handle? Demand Curve Which economic graph is used by organizations to regulate production by predicting the amount of product buyers will purchase at different prices? Price of substitute goods Customer preference Which two factors drive demand in a microeconomic system? Demand increases How does a sudden shortage of a commodity product affect the immediate demand for the product at its current price? Economy expands Personal wealth increases Which two impacts result from a nation's increase in productivity? To encourage bankers to make loans To cut the cost of borrowing For which two purposes will the U.S. Federal Reserve System follow an expansionary monetary policy? A rise of interest rates on these securities An increase in overall cost of debt to private borrowers 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? Analyzing major investment decisions What is one role of a financial manager? Making capital market investments Creating a financial plan Which two activities are finance activities rather than accounting activities? Venture capital Public sale of stocks Hedge funds Which three sources should a business consider when seeking a long-term funding source? commerical paper In which type of security should a business invest its excess cash in anticipation of paying off the current year's tax liability? It assumes the risk of the assessed value of the security from the issuer. Which role does the underwriter play in financing business operations when using the capital market to sell securities to the public? To determine the accuracy of forecasted revenues, costs, and expenses Why should a manager use financial controls in a firm's financial plan? Sales forecast plus non-sales revenue What does a CFO use in financial planning to determine the expected level of revenue for future periods? It capped the debit card swipe fee at 21 cents. How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact retailers? Buying stock in the public company for which the employee works based on a conversation the employee overheard at a cocktail party between two of the company's executives Selling company stock because a co-worker told the employee the company's new drug is failing in clinical trial Which two activities are prohibited by insider trading laws and should be avoided by a firm's employees? Volatility of interest rates Frequent renewals Which two risks does a firm face by funding the purchase of long-term assets with short-term funding sources? Long-term commercial bank loan Which funding source should a firm use if it wishes to secure long-term financing while retaining all of its equity? It can make large amounts of money available. It carries interest rates that are 1 to 2 percent less than bank loans. It has a maturity that ranges between 1 and 270 days. Which three characteristics make commercial paper a low-risk, attractive source of short-term funding for a business? Ensure that earnings remain larger than interest payments What should a firm do to manage the risk of using leverage when exploring long-term funding options? The balance sheet Which financial statement should an investor examine to identify the liabilities of a firm? Leverage A company wishes to determine if it should fund a project with bonds or equity.Which business concept would it most likely use to assist in the decision? Net income divided by average equity Which calculation determines a firm's return on equity? It converts easily into cash. Why should companies that are conservative investors with liquidity concerns invest their excess cash in money market funds? FASB requires companies to comply with GAAP that differ from IFRS Which regulatory relationship within the Securities and Exchange Commission (SEC) historically has acted to prohibit the U.S. from adopting the International Financial Reporting Standards (IFRS)? Owners and creditors Which users of financial statements use the financial statements to evaluate operations of the firm and to make investment decisions? Database What is considered the heart of any information system? A transaction processing system Which type of information system should be accessed by the vice president of sales for a national department store chain who wants to see the previous day's sales receipts? Employees are enabled to work remotely with secure connectivity to the corporate network via the internet. How does a virtual private network contribute to a firm's workforce productivity? Through more efficient application updates Through better resource utilization Through greater application availability for remote workers What are three ways cloud computing services enhance company productivity? Personal letters sent through the company mail room For which type of communication should employees have an ethical expectation of privacy from company monitoring? Selling customer data for external marketing research Which activity raises ethical issues heightened by the capabilities of data mining? The intent to report on a user's Internet activity Which intent of spyware creates a company security issue? False True or False: Macroeconomics is the study of small economic units such as households and individual businesses. Movement along the supply curve is the opposite of movement along the demand curve. Which of the following is true of supply and demand curves? Monopolistic competition In which of the following market structures are there a large numbers of buyers and sellers, each of whom has some significant control over price? improve customer service and reduce prices. A few industries in the United States, like transportation, energy, and communications, were deregulated in the 1980s and 1990s to decreased. If labor hours increase, the amount of natural resources used remains the same, and output remains constant, productivity is said to have: energy; food Core inflation rate is the inflation rate of an economy after ______and______ prices are removed. Monetary policy _____ is formulated by the Federal Reserve System restrictive monetary policy A(n) _____ reduces the money supply to curb rising prices, overexpansion, and concerns about overly rapid economic growth. prosperity, recession, depression, recovery What are the 4 stages of the business cycle? output divided by input Total productivity = ________/_____________ frictional, seasonal, structural, cyclical What are the 4 types of unemployment? Economics The study of the choices people and governments make when allocating scarce resources. Balanced Budget situation in which total revenues raised by taxes equal the total proposed spending for the year Budget organization's plan for how it will raise and spend money during a given period of time budget deficit a situation in which the government spends more than it raises through taxes Budget Surplus excess funding that occurs when government spends less than the amount of funds raised through taxes and fees Communism Economic System in which all property would be shared equally by the people of a community under the direction of a strong central government Consumer Price Index (CPI) measurement of the monthly average change in prices of goods and services Core Inflation Rate inflation rate of an economy after energy and food prices are removed cyclical unemployment people who are out of work because of a cyclical contraction in the economy Deflation opposite of inflation, occurs when prices continue to fall Demand the willingness and ability of buyers to purchase a good or service Demand Curve graph of the amount of a product that buyers will purchase at different prices Economics Social science that analyzes the choices people and governments make in allocating scarce resources equilibrium price prevailing market price at which you can buy an item expansionary monetary policy government actions to increase the money supply in an effort to cut the cost of borrowing, which encourages business decision makers to make new investments, in turn stimulating employment and economic growth Fiscal Policy government spending and taxation decisions designed to control inflation, reduce unemployment, improve the general welfare of citizens, and encourage economic growth frictional unemployment applies to members of the workforce who are temporarily not working but are looking for jobs Gross Domestic Product (GDP) the sum of all goods and services produced within a country's boundaries during a specific time period, such as a year Hyperinflation economic situation characterized by soaring prices