WGU Principles-of-Management Exam With Confidence Using Practice Dumps

The stage of the conflict process considered distinct because of its importance in intervening between perceptions or emotions and overt behavior is intentions. Intentions reflect how an individual plans to behave in a conflict situation, mediating the transition from perception and feelings to actions. This stage is crucial as it involves decisions about how to approach the conflict, whether to compete, collaborate, avoid, accommodate, or compromise​​.

The first step of the control process is setting performance standards.

Setting Performance Standards(Answer B): This step involves establishing the criteria against which performance will be measured. These standards serve as the benchmark for assessing actual performance and determining any necessary corrective actions​​.

Measuring Performance(Answer C) andComparing Performance Against Standards(Answer D): These steps come after setting performance standards.

Taking Corrective Action(Answer A): This is the final step in the control process.

The purpose of value chain analysis is to enable a company to understand the various activities involved in producing and delivering a product or service and to identify opportunities to gain a competitive advantage. The concept of the value chain was introduced by Michael Porter and involves examining all activities a firm performs and how they interact to create a competitive advantage.

Definition and Purpose:

A value chain describes the series of activities that an organization carries out to create value for its customers.

The primary purpose is to systematically identify and analyze these activities to understand where value is added to the final product or service, which can then be leveraged to gain a competitive advantage​​.

Components of Value Chain:

Primary Activities: These include inbound logistics, operations, outbound logistics, marketing and sales, and services. Each of these activities adds value directly to the production and delivery of the product.

Support Activities: These include procurement, technology development, human resource management, and firm infrastructure. These activities support the primary activities and add value indirectly​​.

Systematic Approach:

By analyzing each activity in the value chain, a firm can identify areas where efficiencies can be improved or where innovation can be introduced.

This systematic approach helps the firm to focus on optimizing these activities to reduce costs, improve quality, and differentiate its products from competitors, thus developing a competitive advantage​​.

In summary, value chain analysis allows a company to use a systematic approach in developing a competitive advantage by identifying and optimizing the activities that create value​​.