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WGU C483 PRINCIPLES OF MANAGEMENT OA FINAL EXAM LATEST EXAM ALL 2 ACTUAL VERSIONS COMPLETE 300 QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+$20.99
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WGU C483 PRINCIPLES OF MANAGEMENT OA FINAL EXAM LATEST
EXAM 2024-2025 ALL 2 ACTUAL VERSIONS COMPLETE 300 QUESTIONS
AND CORRECT ANSWERS ALREADY GRADED A+
WGU C483 PRINCIPLES OF MANAGEMENT OA EXAM A
A company is trying to systematically improve processes by eliminating nonconformity of their
products to product specifications. The company believes their continuous effort to reduce
variation in their process outputs is key to their business success.
Which quality process is the company utilizing?
ISO 9000
Six Sigma
Reengineering
Continuous processing - ANSWER-Six Sigma
Which concept entails all aspects of interaction a company has with its customers in both sales
and service-related environments?
Customer connection society
Customer liaison administration
Customer association organization
Customer relationship management - ANSWER-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?
Time-based competition
Sustained competitive advantage
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Coordination of mutual adjustment
Decentralization of the organization - ANSWER-Sustained competitive advantage
What designates those who take hands-on responsibility for creating innovation such as new
ideas, products, or methods within an organization?
Franchiser
Pacesetter
Intrapreneur
Controller - ANSWER-Intrapreneur
Why is innovation an important element of entrepreneurship?
Allows the company to meet industry benchmarks
Creates unique and different products or services
Reduces marketing costs for the company
Buffers the impact of changes in the legal environment - ANSWER-Creates unique and different
products or services
Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open-
minded, able to learn quickly, and skilled at conceptualizing.
Which entrepreneurial personality trait is this?
Choose 1 answer
Opportunity obsession
Competitive intelligence
Creativity, self-reliance, and ability to adapt
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Tolerance of risk, ambiguity, and uncertainty - ANSWER-Creativity, self-reliance, and ability to
adapt
Which personality characteristics are believed to contribute to an entrepreneur's success?
Risk aversion
Determination
Status quo obsession
Motivation to delegate - ANSWER-Determination
Why would an entrepreneurial business choose to use its own resources versus seeking outside
resources in financing a business venture?
To go public
To spread the risk
To maintain control
To fuel large growth - ANSWER-To maintain control
A value chain is the sequence of activities that begins with raw materials.
What result does a value chain end with?
Choose 1 answer
Supply and demand
Operations and logistics
Outsourcing or insourcing
Delivery of products or services - ANSWER-Delivery of products or services
What happens when an effective value chain is created?
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Choose 1 answer
Profit margins are increased.
A mission statement is developed.
Customized products are standardized.
Total quality management is not required. - ANSWER-Profit margins are increased.
Industry and market analysis, competitor analysis, and social analysis are examples of which
step in the strategic planning process?
Analysis of mission, vision, and goals
Analysis of management implementation
Analysis of external opportunities and threats
Analysis of internal strengths and weaknesses - ANSWER-Analysis of external opportunities and
threats
Skilled management, positive cash flow, and well-known brands are examples of which
component of the SWOT analysis?
Threats
Strengths
Weaknesses
Opportunities - ANSWER-Strengths
What denotes skills or expertise in an activity that constitutes the roots of competitiveness in
an organization?
Choose 1 answer
Strategic values
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