WGU C483 Practice questions with correct answers

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1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical - A.) Operational 2.)The planning process is s... imilar 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.) Decision-making 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. - B.) Weakness 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 - B.) Strategic Control 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 - B.) Differentiation 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 - D.) SWOT Analysis 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 - C.) Strategy Implementation 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. - B.) That involves expanding the domain of the organization into supply channels or to distributors. 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 - D.) Macroeconomics Analysis 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. - C.) Those of another company 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 - B.) Contingency plans 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. - C.) It identifies specific plans and procedures 13.)The most effective _____ statements inspire organization members, offering a worthwhile target for the entire organization to work together to achieve. A)vision B)operation C)business definition D)financial E)quality - A.) Vision 14.)A(n) _____ illustrates the four key drivers of a firm's long-term success, and shows how goals in each area are linked to others. A)objective script B)GANTT chart C)PERT chart D)decision tree E)strategy map - E.) Strategy map 15.)_____ provides individuals and work units with a clear map to follow in future activities. A)Planning B)Charting C)A mission statement D)A BCG matrix E)Staffing - A.) Planning 16.)A _____ is the knowledge, expertise, or skill that underlies a company's ability to be a leader in providing a range of specific goods or services. A)knowledge flow B)continuous process C)cognitive ability D)core capability E)dynamic network - D.) Core Capability A multifaceted process focusing on creating two-way exchanges with customers to foster intimate knowledge of their needs, wants, and buying patterns is called _____ management. A)customer relationship B)customer analytics C)total quality D)human resources E)buyer-behavior - A.) Customer Relationship The _____ structure is an organizational form that emphasizes flexibility. A)organic B)mechanistic C)scientific D)systematic E)bureaucratic - A.) Organic An organization that is skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights is known as a ____ organization. A)high-involvement B)network C)mechanistic D)matrix E)learning - E.) Learning Which of the following is a characteristic of a large batch organization? A. Emphasis is on mutual adjustment among people B. More rules and formal procedures C. Decentralized decision making D. Highly customized products E. Organic structure - B.) More rules and formal procedures Marques Tech is a leading mobile phone manufacturer. The company has a deal with FoodZone, a leading fast-food chain. Anyone with the latest Marques cell phone will get 20% off on their bill at FoodZone, with the offer being valid for six months. Which of the following best describes this scenario? A.Network organization B.Strategic alliance C.Learning organization D.High-involvement organization E.Classical conglomeration - B.) Strategic Alliance In _____, the emphasis is on quality, speed, and flexibility more than on cost, efficiency, and hierarchy, which is exemplified by employees' authority to halt operations to correct problems. A.time-based competition B.total quantity management C.lean manufacturing D.flexible factories E.job shops - C. Lean Manufacturing The support activities in the generic value chain include: A.firm infrastructure. B.research and development. C.outbound logistics. D.marketing and sales. E.operations. - A. Firm infrastructure Deming's 14 points of quality emphasized a(n) _____ approach to management. A.short-term B.interactive C.formulaic D.generic E.holistic - E. Holistic A mechanistic organization is best described as: A. an organization with fewer levels of intervening management between staff and managers. B. a form of organization that uses the principle of specialization based on function or role. C. an organization that emphasizes flexibility. D. an organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge. E. a form of organization that seeks to maximize internal efficiency. - E. A form of organization that seeks to maximize internal efficiency. Which of the following is a practice that is recommended for firms to ease the pain of downsizing? A. Implement voluntary early retirement programs B. Make slow, small, and frequent layoffs C. Engage in excessive hiring D. Use downsizing as a primary option when it comes to improving efficiency E. Train people to cope with the new situation - E. Train people to cope with the new situation Which of the following types of organization is similar to a bureaucratic structure? A. An organic organization B. A continuous improvement organization C. A learning organization D. A high-involvement organization E. A mechanistic organization - E. A mechanistic organization At _____, a product or process is defect-free 99.99966 percent of the time. A. CIM B. ISO 9001 C. JIT system D. six sigma E. concurrent engineering - D. Six Sigma Which of the following is a support activity in the generic value chain? A. Research and development B. Outbound logistics C. Operations D. Marketing and sales E. Procurement - E. Procurement _____ is an integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that result in goods and services of high standards. A. Customer relationship management B. Mass customization C. Computer-integrated manufacturing D. Value-added manufacturing E. Total quality management - E. Total quality management Which of the following statements is true of a high-involvement organization? A. The leader defers to the board of directors for all decisions. B. Employee involvement tends to be inadequate when the environment changes rapidly. C. The organizational form is a flat, decentralized structure built around a customer, good, or service. D. Lower-level employees are not accountable for a good or service delivery. E. Task forces and study groups are not generally used because they are seen as a waste of time and resource. - C. The organizational form is a flat, decentralized structure built around a customer, good or service. _____ is a design approach in which all relevant functions cooperate jointly and continually in a maximum effort aimed at producing high-quality products that meet customers' needs. A. Mass customization B. Concurrent engineering C. Flexible manufacturing D. Just-in-time operation E. Dynamic networking - B. Concurrent engineering A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is known as ____. A. customer-based integration B. just-in-time control C. ISO 9001 D. computer-integrated manufacturing E. total quality management - C. ISO 9001 Rightsizing refers to: A. firing lesser people than the right number as a process buffer. B. arriving at the size at which a company performs most effectively. C. hiring the right people for the right job. D. determining the right size and composition of project teams. E. estimating the human resource required to complete a project. - B. arriving at the size at which a company performs most effectively According to Deming's 14 points of quality, which of the following has to be eliminated, as they are contrary to the idea of continuous improvement? A. Strategic alliances B. Just-in-time operations C. Numerical quotas D. Value chains E. Retraining programs - C. Numerical quotas An effective strategy for enabling a firm to be responsive and competitive is to focus on fundamental strengths and expertise, and developing leadership in and organizing around its _____. A. product offerings B. core capabilities C. customer service D. managerial talents E. employee skills - B. Core capabilities A(n) _____ is a formal relationship created among independent organizations with the purpose of joint pursuit of mutual goals. A. strategic alliance B. subordinate partnership C. network organization D. cluster organization E. organizational alliance - A. Strategic Alliance Which of the following steps in the value chain involves focusing on innovation and new products? A. Inbound logistics B. Marketing and sales C. Outbound logistics D. Operations E. Research and development - E. Research and Development The sequence of activities that flow from raw materials to the delivery of a good or service, with additional value created at each step, is known as ____. A. the value chain B. total quality management C. competitive analysis D. customer analysis E. the strategic triangle - A. The value chain Which of the following is one of the criteria for receiving the Malcolm Baldrige National Quality Award? A. Extensive training for workers B. Customer and market focus C. ISO 9001 certification D. Use of JIT E. Technological innovation - B. Customer and market focus Which of the following is a primary activity in the generic value chain? A. Service B. Procurement C. Technology development D. Firm infrastructure E. Human resource management - A. Service In an organic structure, _____. A. communication occurs through orders and instructions B. jobholders rely more heavily on rules than on judgment C. employees depend more on one another and relate more informally D. obedience to authority is more important than commitment to the organization's goals E. decision making is centralized and formal - C. Employees depend more on one another and relate more informally Almost any competitive advantage is temporary, so companies should strive for continuous improvement, which is also known as _____. A. kanban B. keiretsu C. kaizen D. andon E. zaibatsu - C. Kaizen Which of the following tags help boost logistics efficiency and speed? A. TQM B. RFID C. ISO D. CRM E. JIT - B. RFID Which of the following aspects of an organization creates scale economies and economies of scope and leads to advantages like lower operating costs, greater purchasing power, and easier access to capital? A. Mass customization B. High agility C. High flexibility D. Large size E. Centralized structure - D. Large Size Identifying the best-in-class performance by a company in a given area, such as customer service, and then comparing the process to one's own is called _____. strategic maneuvering scenario development scanning forecasting benchmarking - Benchmarking Differences in the way people dress and act, their interactions with each other and with customers, and what qualities are expected and appreciated by their managers and company are examples of the _____. organizational structure organization culture business social structure corporate rules and regulations business trait map - organizational culture Which of the following is a characteristic of a strong culture? Having confusion about corporate goals Different people holding different values Everyone believing in the firm's practices Fostering affective conflict and confusion Having unclear principles to guide decisions - Everyone believing in the firm's practices Which of the following is a component of Porter's competitive environment? Technology Suppliers Demographics Economy Societal trends - Suppliers In competition, a substitute is best described as a(n): product that complements another product. alternative to a product. similar product in a completely different market. auxiliary product by the same company. duplicate, counterfeit product. - Alternative to a product Why is understanding an organization's environment important? By understanding its environment, an organization can increase its complexity and dynamism. With this understanding, organizations and individuals are able to understand past decisions and actions. Today's customers support only firms that care about the environment. An organization's environment is the only place to find solutions to an organization's problems. Without this understanding, organizations tend to miss opportunities or make poor decisions. - Without this understanding, organizations tend to miss opportunities or make poor decisions Which of the following is a controllable environmental factor that can affect an organization? Government interference Contamination of raw material sources Cost leadership strategy Economic recession Demographic changes in the labor force - Cost leadership strategy Complexity and dynamism in the environment result in: organizational dynamism. environmental uncertainty. conflicting competitive intelligence. strategic maneuvering. low levels of opportunity. - Environmental uncertainty Which of the following refers to the immediate environment surrounding a firm, including suppliers, customers, rivals, and new entrants? Relational environment Business situation Macroenvironment Competitive environment Business atmosphere - Competitive environment The internal environment includes: competitors and the economy. government and social issues. culture and climate. legal and political factors. customers and suppliers. - Culture and climate Which of the following is a demographic factor of an organization's macroenvironment? Societal trend Employees' age Technology Regulator Social issue - Employees age Raw materials, services, equipment, capital, and information are _____ for an organization. regulators flexible processes inputs internal forces macroforces - inputs Which of the following is a dominant attribute of a hierarchical culture? Cohesiveness Sense of family Rules and regulations Environment exchange Entrepreneurship - Rules and Regulations According to Michael Porter's competitive environment model, high switching costs increases _____. the suppliers dependence on a firm the efficiency of supply chain management the likelihood of new entrants customer satisfaction the power of suppliers - The power of suppliers Pluto Inc. is computer technology corporation that has been manufacturing laptops for the last five years. Recently, in the face of sinking market share, Pluto reduced its dependency on laptops by venturing into tablets and smartphones. This is an example of _____. integration divestiture acquisition diversification merging - Diversification Intrapreneurs are otherwise known as: - corporate entrepreneurs. Which of the following is true of the role of the economic environment in the success of entrepreneurial ventures? - The economic environment affects the success of entrepreneurial ventures by affecting the supply of capital and prospective opportunities Legitimacy increases the probability of success of a new business by: - helping a firm acquire resources such as top managers and good employees. When an enterprising individual pursues a lucrative opportunity, it is known as: - entrepreneurship. Which of the following is the fundamental reason for creating an opportunity analysis? - To analyze whether or not to proceed Which of the following is a key difference between an entrepreneur and an intrapreneur? - An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate support. A competitive advantage in the form of relationships an entrepreneur has with other people and the image other people have of the entrepreneur is known as: - social capital. Which of the following provides a way to raise capital through federally registered and underwritten sales of shares in the company? - Initial public offering One of the five key factors that entrepreneurs are required to have thought through is _____. - people The primary objective of an entrepreneurial venture is to: - acquire growth and high profitability. [Show More]

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