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WGU Principles of Management at Western Governors University(IAC1) Sample Questions (Q40-Q45):

NEW QUESTION # 40
Which customer relationship concept emphasizes the relationship between the company, the competition, and the customer? Choose 1 answer

A. Liaison concept
B. Tactical strategy
C. Strategic relationship
D. Strategic triangle

Answer: D

Explanation:
The customer relationship concept that emphasizes the relationship between the company, the competition, and the customer is the Strategic Triangle. This model highlights the importance of balancing these three elements to achieve competitive advantage. It involves understanding customer needs, monitoring competitor actions, and leveraging company strengths to deliver superior value to customers.

NEW QUESTION # 41
In which situation does religious preference inappropriately affect decision making? Choose 1 answer

A. An individual follows religious dietary restrictions while at work regardless of the religious beliefs of others.
B. A company allows two days off per year for religious celebrations to all employees regardless of religious affiliation.
C. A manager refuses to participate in an event that conflicts with the manager's personal religious beliefs.
D. A real estate agent uses her religious background as a basis for accepting bids on property that is for sale.

Answer: D

Explanation:
Religious preference inappropriately affects decision making when a real estate agent uses her religious background as a basis for accepting bids on property that is for sale. This situation reflects discrimination and bias, as decisions are being influenced by personal religious beliefs rather than objective criteria. Such actions can lead to unethical practices and violate principles of fair treatment and equality.

NEW QUESTION # 42
What describes a value chain? Choose 1 answer

A. It creates a focus for organizational downsizing.
B. It flows from raw materials to the delivery of products or services.
C. It is the internal strengths and weaknesses of an organization.
D. It allows an organization to manage diversity in multiple markets.

Answer: B

Explanation:
The value chain describes the full range of activities that businesses go through to bring a product or service from conception to delivery and beyond. The concept was popularized by Michael Porter in his 1985 book
"Competitive Advantage: Creating and Sustaining Superior Performance."
* Definition and Scope: A value chain encompasses all the processes involved in the creation of a product or service. This includes:
* Sourcing raw materials.
* Production processes.
* Marketing and sales.
* Distribution and delivery.
* Customer service post-delivery.
* Primary Activities:
* Inbound Logistics: Receiving, storing, and disseminating inputs of the product.
* Operations: Transforming inputs into the final product.
* Outbound Logistics: Collecting, storing, and distributing the product to customers.
* Marketing and Sales: Persuading customers to purchase the product.
* Services: Activities that maintain and enhance the product's value, such as customer service.
* Support Activities:
* Procurement: Acquiring the resources a company needs to operate.
* Technology Development: Research and development, IT, automation, etc.
* Human Resource Management: Recruiting, hiring, training, and retaining workers.
* Firm Infrastructure: Organizational structure, control systems, company culture, etc.
* Example of Value Chain: The textbook provides an example of Walmart's value chain to illustrate how a company adds value at each step of the process, from procurement to delivery.
* Importance: Understanding and optimizing the value chain allows companies to identify where they can add value, reduce costs, and gain competitive advantage. Companies can use this analysis to find opportunities for improvement, innovation, and efficiency in their processes.

NEW QUESTION # 43
The manager of a corporation provided training and other resources needed by employees to carry out change and perform their jobs under new rules being implemented. Which approach to change was the manager using in this situation? Choose 1 answer

A. Education and communication
B. Participation and involvement
C. Facilitation and support
D. Negotiation and reward

Answer: C

Explanation:
The approach to change that the manager was using is facilitation and support. This method involves providing the necessary training and resources to employees to help them adapt to new changes. It includes efforts to reduce resistance by making the transition as smooth as possible and ensuring that employees feel supported during the change process.

NEW QUESTION # 44
Which management process has the benefits of group problem solving, information sharing, and cooperation across business functions? Choose 1 answer

A. Criteria for Growth
B. Total Quality Management
C. Total Control Management
D. Change Control

Answer: B

Explanation:
Total Quality Management (TQM) has the benefits of group problem solving, information sharing, and cooperation across business functions. TQM focuses on continuous improvement in all aspects of an organization's operations and involves all employees from top management to front-line workers. It encourages participation in decision-making and emphasizes collaboration and teamwork across different functions.

NEW QUESTION # 45
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