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

1. Which customer relationship concept emphasizes the relationship between the company, the competition, and the customer? Choose 1 answer

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

2. What is a common consideration for starting a new business venture? Choose 1 answer

A) System changes
B) Right opportunity
C) Technical understanding
D) Access to information

3. What is the purpose of the control process? Choose 1 answer

A) To build a dynamic organization at all levels within the company
B) To develop market saturation for the company's product
C) To deliver strategic value by fostering communication throughout the organization
D) To direct the activities of individuals toward achievement of organizational goals

4. Entrepreneurs who want to start a new business need to understand the level of risk and both dimensions.
What do entrepreneurs use to assess levels of risk and innovation?
Choose 1 answer
involved in establishing a new venture and must then decide if they are comfortable with

A) Entrepreneurial loss function diagram
B) Collaboration tracking matrix
C) Innovation creation diagram
D) Entrepreneurial strategy matrix

5. What isa clear and concise statement ofthe basic purpose of an organization? Choose 1 answer

A) Its goal
B) Its vision
C) Its mission
D) Its objective

Solutions: