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Principles-of-Management Principles of Management at Western Governors University(IAC1)

  • WGU
  • 4 free sample questions

About this exam

Principles-of-Management is the WGU exam Principles of Management at Western Governors University(IAC1). Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
Principles-of-Management
Vendor
WGU
Practice questions
Not available yet
Free sample questions
4
Question bank last updated
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Try 2 sample questions

Taken from the free sample set for Principles-of-Management.

Question 1

What is the main focus of SWOT analysis? Choose 1 answer


  1. Option A:
    Establishing a factory's production rate and quality standards
  2. Option B:
    Uncovering an organization's strengths and weaknesses

  3. Option C:
    Determining a company's corporate structure and management style

  4. Option D:
    Developing a business's mission and vision statements
Show answer and explanation

Correct answer: B

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.

Question 2

What is the last step in strategic planning? Choose 1 answer

Goal setting
  1. Option A:
    Goal setting
    Strategy formulation
  2. Option B:
    Strategy formulation
  3. Option C:
    Strategic control

  4. Option D:
    SWOT analysis
Show answer and explanation

Correct answer: C

The last step in the strategic planning process is strategic control. This involves monitoring and
evaluating the execution of the strategic plan to ensure that the organization is achieving its
objectives and making necessary adjustments.
Strategic Management Process:
The strategic management process includes developing the firm's vision and mission, strategic
analysis, setting objectives, creating and implementing strategies, and finally, measuring and
evaluating performance.
Strategic control is the step where managers assess whether the strategies and plans are being
effectively implemented and whether they are leading the organization towards its goals.
Purpose of Strategic Control:
It ensures that the organization is moving in the right direction and that the strategic plans are
yielding the desired outcomes.
It involves setting performance standards, measuring actual performance, comparing it with the
standards, and taking corrective actions if necessary.
Components of Strategic Control:
Performance Measurement: This involves tracking the progress of strategy implementation through
key performance indicators (KPIs).
Feedback and Adjustment: Based on performance data, managers provide feedback and make
adjustments to strategies to address any deviations from the planned objectives.
See all 4 free sample questions