All Principles-of-Management Test Inside WGU Questions

To stimulate conflict and get a different perspective, bringing in outsiders is the most appropriate technique.

Bringing in Outsiders(Answer A): This technique involves introducing new individuals who have different viewpoints, which can stimulate conflict and provide new perspectives that might be overlooked by the current team. It helps in shaking up the status quo and encouraging innovative thinking​​.

Appointing a Devil's Advocate(Answer B): While also effective in stimulating conflict, this technique involves someone within the group challenging ideas to ensure thorough evaluation. However, it might not provide as fresh a perspective as bringing in outsiders.

Authoritative Command(Answer C) andCompromise(Answer D): These are more about resolving conflict rather than stimulating it.

Entrepreneurs who want to start a new business need to assess levels of risk and innovation involved in establishing a new venture. The tool commonly used to assess these dimensions is the Entrepreneurial Strategy Matrix.

Entrepreneurial Strategy Matrix(Answer D): This matrix helps entrepreneurs evaluate their business ideas by plotting the level of innovation (low to high) against the level of risk (low to high). This analysis aids in understanding the feasibility and potential success of the new venture by identifying which strategies are likely to succeed given the level of risk and innovation involved​​.

Collaboration Tracking Matrix(Answer A) andInnovation Creation Diagram(Answer B): These are not standard tools used to assess risk and innovation in entrepreneurship as described in the textbook.

Entrepreneurial Loss Function Diagram(Answer C): This is not a recognized tool for assessing risk and innovation in entrepreneurial ventures as per the principles of management.

The most common way for entrepreneurs to finance a start-up business is by using personal funds.

Personal Funds(Answer C): Many entrepreneurs begin their ventures by using their own savings or personal resources. This is often the most accessible form of financing and does not require external approval or incur debt​​.

SBA Loan(Answer A) andVenture Capital(Answer B): These are common sources of financing, but they are less frequently used than personal funds, especially in the initial stages of a start-up.

Initial Public Offering(Answer D): This is a method of raising capital typically used by established businesses rather than start-ups.

A feature of a bureaucracy (vertical) organization is that formal position authority is generally the primary means of running the organization. This means that decisions and directives come from a hierarchical chain of command, and roles, responsibilities, and processes are clearly defined and standardized.

Formal Position Authority(Answer B): Bureaucratic organizations rely on a clear hierarchy where authority and decision-making processes are well-defined and based on formal positions​​.

Decentralized Decision Making(Answer A),Collaboration Across Departments(Answer C), andAnswering to Multiple Bosses(Answer D): These features are more characteristic of organic or matrix organizations rather than traditional bureaucracies.