WGU C201 BUSINESS ACUMEN EXAM | STUDY QUESTIONS AND ANSWERS RATED A+ | LATEST 2024
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Course
WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT
Institution
WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT
WGU C201 BUSINESS ACUMEN EXAM | STUDY QUESTIONS AND ANSWERS RATED A+ | LATEST 2024
WGU C201 BUSINESS ACUMEN EXAM | STUDY QUESTIONS AND ANSWERS RATED A+ | LATEST 2024
WGU C201 BUSINESS ACUMEN EXAM | STUDY QUESTIONS AND ANSWERS RATED A+ | LATEST 2024
WGU C201 BUSINESS ACUMEN
EXAM | STUDY QUESTIONS AND
ANSWERS RATED A+ | LATEST 2024
What is Management?
- Correct Answer - Management is the process of achieving
Organizational objectives through people and other resources.
The Manager's job is to combine Human and Technical resources
in the best way possible to achieve the company's goals.
How do the jobs of top managers, middle managers, and
supervisory managers differ?
- Correct Answer - Top managers design long term plans, set a
direction for their organization and inspire all employees to
achieve the company's vision. Middle managers focus on the
specific mission and operations, products, or customers. They
develop procedures to implement the company's strategic plans.
Supervisory interact directly with non-management employees,
who produce and sell the companies goods and services. They
are responsible for implementing the plans developed by middle
,managers and motivating workers to accomplish daily, weekly,
and monthly goals.
What is the relationship between the managers planning and
controlling functions?
- Correct Answer - Controlling assess the success of the
planning function. Controlling also produces feedback for the next
round of planning.
What is meant by a vision for the company?
- Correct Answer - A vision serves as a target for the company's
actions, helping direct the company towards opportunities and
differentiating it from its competitors.
Why is it important for a top executive to set high ethical
standards?
- Correct Answer - High ethical standards often result in a stable
workforce, job satisfaction, and customer loyalty.
What does management mean?
- Correct Answer - Or span of control- Numbers of employees
the manager supervises.
, What is mass production?
- Correct Answer - Mass production is Manufacturing large
quantities of products through effective combinations of both
employees with specialized skills, mechanizations, and
standardization.
What are the stages of the product life cycle?
- Correct Answer - Intro stage: Company promotes demand for
the product. Growth Stage: Sales climb and company earns its
initial profits. Maturity Stage: Sales reach saturation level. Decline
stage: sales and profits decline.
Marketing Implications of Each Stage.
- Correct Answer - Marketers sometimes employ the strategies
to extend the product life cycle, including increasing frequency of
use, adding new users, finding new use for the product, and
changing packaging size, labeling, or product design.
Differentiate among a brand, brand name, and trademark.
- Correct Answer - Brand name is a name, term, sign, symbol,
or design or some combination used to identify the products of
one company and differentiate them from competitive offerings. A
Brand Name is that part of the brand consisting of words or letters
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