Latest wgu c483 exam - Study guides, Class notes & Summaries

WGU C483 PRINCIPLES OF MANAGEMENT PRACTICE TEST | QUESTIONS AND CORRECT ANSWERS (ALREADY GRADED A+) | LATEST UPDATE 2024

WGU C483 Principles of Management Final Exam 2023 (Questions and Answers Latest Graded A+) Describe Porter's 5 Model and how it is used in the strategic planning process. 1. understand the competitive environment, organization's must identify competitors. 2. analyze how to compete. 3. new entrants (Netflix took out blockbuster) 4. substitutes and complements (coke for starbucks; starbucks complement is a cake pop) 5. suppliers: switching costs ( fixed costs buyers face when they change su...

FINAL WGU C483 PRINCIPLES OF MANAGEMENT OA EXAM LATEST 2024 TEST BANK 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+ Delivery of products or services 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 Profit margins are increased. What happens ...

WGU C483 PRINCIPLES OF MANAGEMENT OA FINAL EXAM LATEST 2024 TEST BANK 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+ Topic: Planning Question 1: Q: What is the primary purpose of strategic planning in an organization? A: The primary purpose of strategic planning is to align the organization's goals and objectives with its mission and vision. By doing so, it helps in providing a clear direction and framework for decision-making, resource...

WGU C483 Principles of Management Final Exam Questions and Answers (Latest 2023 Graded A) Explain what a Core Competency/ Capability means for an organization. Core Capability: (or competence) when resources are valuable, rare, inimitable, and organized. Something company does especially well relative to its competitors. (EX: Honda small engine) Core competencies typically refers to a set of skills or expertise in some activity rather than physical or financial assets. Porter's 5 Model Port...

WGU C483 - Principles of Management. Accountability The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance Accounting audits Procedures used to verify accounting reports and statements Acquisition One firm buying another Activity-based costing (ABC) A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according t...

WGU C483 Principles of Management Final Exam Questions and Answers (Latest 2023 Graded A) Describe strategic planning Making decisions about the organization's long-term goals and strategies Describe strategic goals major target long-term goals that are effective and efficient describe strategy pattern of actions and resource allocations designed to achieve the goals of the organization. 1. Where will we be active? 2. How will we get there (increase sales or acquire another company)? 3. Ho...

WGU C483 Multiple Attempt Readiness Exam (Latest 2023 – 2024) 100% Correct

The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical 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 D 3.)In a SWOT analysis, the absence of reliable suppliers would be considered as a(n): A)weakness and a threat...