PRINCIPLES-OF-MANAGEMENT EXAM OBJECTIVES - TEST PRINCIPLES-OF-MANAGEMENT QUESTIONS PDF

Principles-of-Management Exam Objectives - Test Principles-of-Management Questions Pdf

Principles-of-Management Exam Objectives - Test Principles-of-Management Questions Pdf

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Tags: Principles-of-Management Exam Objectives, Test Principles-of-Management Questions Pdf, Exam Dumps Principles-of-Management Pdf, Principles-of-Management Test Voucher, Review Principles-of-Management Guide

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WGU Principles of Management at Western Governors University(IAC1) Sample Questions (Q26-Q31):

NEW QUESTION # 26
During an annual staff meeting the CEO of a corporation addressed the audience by stating that the long-term goal of the corporation is to "become the most competitive company in the world and to grow more rapidly than our competitors by providing the best customer service in the business." What did the CEO's statement reflect?
Choose 1 answer

  • A. Strategic analysis
  • B. Strategic mission
  • C. Strategic vision
  • D. Strategic competencies

Answer: C

Explanation:
The CEO's statement about the long-term goal of the corporation reflects the strategic vision. A strategic vision articulates what the organization aspires to achieve in the future, guiding its direction and efforts. It is a broad statement that defines the desired long-term outcomes and the future state the company aims to reach.


NEW QUESTION # 27
A company is attempting to be efficient by offering a no-trills product. What type of strategy is the company pursuing? Choose 1 answer

  • A. Operational
  • B. Resource
  • C. Functional
  • D. Low-cost

Answer: D

Explanation:
A company offering a no-frills product to be efficient is pursuing a low-cost strategy. This strategy focuses on minimizing costs and offering products at the lowest possible price to attract cost-conscious customers. This approach involves strict cost control and operational efficiency to maintain profitability while offering lower prices than competitors.


NEW QUESTION # 28
What is evident when a company does something especially well in comparison to its competitors? Choose 1 answer

  • A. Strategic liaisons
  • B. Competitive objectives
  • C. Core capabilities
  • D. Urban location

Answer: C

Explanation:
When a company does something especially well in comparison to its competitors, this is evident through its core capabilities. Core capabilities refer to a firm's resources and skills that are fundamental to its business and competitive advantage. These capabilities enable the firm to differentiate itself from competitors, achieve better performance, and maintain a strong market position.


NEW QUESTION # 29
What is the process that Includes automation or support of customer processes, direct communication with customers, and analysis of customer data for a broad range of purposes? Choose 1 answer

  • A. Customer relationship management
  • B. Customer association organization
  • C. Customer liaison policy
  • D. Customer connection society

Answer: A

Explanation:
The process that includes automation or support of customer processes, direct communication with customers, and analysis of customer data for a broad range of purposes is Customer Relationship Management (CRM).
CRM systems help organizations manage interactions with current and potential customers, streamline processes, and improve profitability by using customer data analysis for various business strategies.


NEW QUESTION # 30
What is the activity called when a corporate project team is created to develop a new product? Choose 1 answer

  • A. Venture capitalism
  • B. Competitive innovation
  • C. Benchmarking
  • D. Intrapreneurship

Answer: D

Explanation:
The activity of creating a corporate project team to develop a new product is called intrapreneurship.
Intrapreneurship refers to the practice of fostering innovation and entrepreneurial skills within an organization by allowing employees to act like entrepreneurs while working within the company. This approach encourages the development of new products and services and enhances organizational growth.


NEW QUESTION # 31
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