WGU C483 Principles of Management (IAC1)

What describes a value chain?
Choose 1 answer

• ✔️ It flows from raw materials to the delivery of products or services.

• It is the internal strengths and weaknesses of an organization.

• It allows an organization to manage diversity in multiple markets.

• It creates a focus for organizational downsizing.

2
What is a clear and concise statement of the basic purpose of an organization?
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• Its objective

• Its Vision

• Its goal

• ✔️ Its mission

3
What is the purpose of a value chain analysis?
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• To determine company stockholder satisfaction

• To help the company determine its commitment to ethics and social responsibility

• ✔️ To allow the company to use a systematic approach in developing a competitive advantage

• To allow the company to implement an intranet and develop automated processes

4
What is the last step in strategic planning?
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• Strategy formulation

• SWOT analysis

• Goal setting

• ✔️ Strategic control

5
What is the main focus of SWOT analysis?
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• ✔️ Uncovering an organization’s strengths and weaknesses

• Developing a business’s mission and vision statements

• Establishing a factory’s production rate and quality standards

• Determining a company’s corporate structure and management style

6
What is evident when a company does something especially well in comparison to its competitors?
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• ✔️ Core capabilities

• Competitive objectives

• Strategic liaisons

• Urban location

7
Which competitive force is reduced by the barriers provided by government policies, capital requirements, brand identification, and cost disadvantages?
Choose 1 answer

• Threat of substitutes

• Threat of supplier power

• ✔️ Threat of new entrants

• Threat of customer power

8
A company is attempting to be efficient by offering a no-frills product.
What type of strategy is the company pursuing?
Choose 1 answer

• Operational

• ✔️ Low-cost

• Functional

• Resource

9
A computer manufacturer purchases the company that supplies computer chips for the company.
Which type of corporate strategy is the company using?
Choose 1 answer

• Conglomerate diversification

• Domain selection

• ✔️ Vertical integration

• Strategic alliance

10
During an annual staff meeting the CEO stated a long-term goal to become the most competitive company.
What did the CEO’s statement reflect?
Choose 1 answer

• Strategic competencies

• Strategic mission

• ✔️ Strategic vision

• Strategic analysis11

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