WGU C201 Study guides, Class notes & Summaries

C201 questions1. Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? - correct answer Evaluating results 2. What is the result of a company increasing the delegation of authority and the span of control? - correct answer Increased decision-making authority given to employees 3. Which two key elements does an effective organization include? Choose 2 answers - correct answer Human inter...

C201Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? - correct answer Evaluating results What is the result of a company increasing the delegation of authority and the span of control? - correct answer Increased decision-making authority given to employees Which two key elements does an effective organization include? Human interaction, Compensation, Safety, or Structure - correct a...

C211 WGU PA and 1st RetakeThe resource-based view of global business differs from the institution-based view of global business in that the resource-based view _____. a. advocates adopting a single method for achieving globalization b. supports the ideology of total globalization c. postulates the ideology of localization d. focuses on the internal strengths on the firm - correct answer focuses on the internal strengths on the firm The _____ of globalization suggests that globalizat...

WGU C201Accounting - correct answer Process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions. Accounting Cycle - correct answer Set of activities involved in converting information and individual transactions into financial statements. Accounting Equation/Accounting Identity - correct answer Formula that states Assets must equal Liabilities plus Owners' Equity. Assets - correct answer Lia...

WGU C201 | Business Acumen | Chapter 7The achievement of organizational objectives through the use of people and other resources. The skills and principles of management apply in both profit and not-for-profit organizations. - correct answer Management ______ has three levels: top, middle, and supervisory management. Top management sets the long-term direction, vision, and values of the organization. Middle managers focus on specific operations, products, or customer groups and implement st...

WGU C201 Business Acumenbalanced budget situation in which total revenues raised by taxes equal the total proposed spending for the year. budget organization's plan for how it will raise and spend money during a given period of time. taxes, fees, and borrowing. The primary sources of government funds to cover the costs of the annual budget are budget deficit situation in which the government spends more than the amount of money it raises through taxes. budget surplus ex...

WGU C201 Business Acumen Chapter 10: Operations and Quality ManagementProduction - correct answer Begins with inputs + add value = produce a good or service. Operations Management - relates to this process. Why is production such an important business activity? - correct answer Without products to sell, companies cannot generate money. Goal: lower the cost of production, boost the quality of goods and services, respond dependably to customers, and continuously improve. In what ways...

WGU C201 Business Acumen Chapter 11, 12, 13: Marketing Marketing - correct answer The process for discovering unmet customer needs, researching potential markets, producing goods or services to satisfy targeted customers, promoting, pricing, and distributing. The organizational function and set of processes for creating, communicating and delivering value to customers, managing customer relations, advocates ideas or viewpoints and educating others. How does marketing create utility? - cor...

WGU C201 Business Acumen Chapter 15 & 16: Accounting and Financial Statements - RatiosCurrent assets / current liabilities - correct answer Current Ratio Current assets - minus inventory / current liabilities - correct answer Acid Test (Quick) Ratio Current assets $250 Inventory $20 Current Liabilities $100 250-20=230 230/100=2.2 $2.20 assets for every $1 in liabilities Acid Test (Quick) Ratio and Current Ratio - correct answer Liquidity Ratios Inventory Turnover, Receivabl...

WGU C201 Business Acumen Chapter 17: Financial ManagementFinancial Structure - correct answer Chief Financial Officer, Vice President of Finance, Treasurer, and Controller Chief Financial Officer - correct answer Leader of the financial team. Reports to Chief Executive Officer. May be on board of directors. This person and CEO must certify accuracy of financial statements. Vice President of Finance - correct answer Makes recommendations to CFO for where to invest capital. Prep...