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WGU Principles of Management at Western Governors University(IAC1) Sample Questions (Q29-Q34):

NEW QUESTION # 29
What is the main focus of SWOT analysis? Choose 1 answer

* A. Determining a company's corporate structure and management style
* B. Developing a business's mission and vision statements
* C. Uncovering an organization's strengths and weaknesses
* D. Establishing a factory's production rate and quality standards
Answer: C

Explanation:
The main focus of SWOT analysis is to uncover an organization's strengths and weaknesses, along with identifying opportunities and threats. SWOT, which stands for Strengths, Weaknesses, Opportunities, and Threats, is a strategic tool used to understand the internal capabilities and external possibilities and risks facing an organization. This analysis helps in identifying what the organization does well and where it may need improvement, thus forming a basis for strategic planning.

NEW QUESTION # 30
What isa clear and concise statement ofthe basic purpose of an organization? Choose 1 answer

* A. Its objective
* B. Its goal
* C. Its vision
* D. Its mission
Answer: D

Explanation:
A clear and concise statement of the basic purpose of an organization is its mission. A mission statement provides a broad description of how the organization intends to achieve its vision. It specifies the organization's reason for being and answers the question, "What business(es) should we undertake?".
In the textbook "Principles of Management," a mission statement is defined as a broad description of how a firm will try to make its vision a reality, often describing the products and services the company plans to offer and the customers it plans to serve. This differentiates it from a vision statement, which is more general and focuses on what the business aspires to become in the future.

NEW QUESTION # 31
What is the activity called when a corporate project team is created to develop a new product? Choose 1 answer

* A. Intrapreneurship
* B. Competitive innovation
* C. Benchmarking
* D. Venture capitalism
Answer: A

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 # 32
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

* A. Conglomerate diversification
* B. Domain selection
* C. Vertical integration
* D. Strategic alliance
Answer: C

Explanation:
When a computer manufacturer purchases the company that supplies computer chips for the company, it is using a vertical integration strategy. Vertical integration involves expanding a company's operations into different stages of production within the same industry, such as acquiring suppliers or distributors, to increase control over the supply chain and reduce costs.

NEW QUESTION # 33
Equal employment opportunity laws were designed to ensure that people are considered for employment without regard to certain traits. Which traits are protected by these laws? Choose 1 answer

* A. National origin, race, and education
* B. Race, religion, and ethnic background
* C. Criminal record, race, and gender
* D. Race, religion, and abilities
Answer: B

NEW QUESTION # 34
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