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

A characteristic of a person with an entrepreneurial personality is the motivation to excel.

Motivation to Excel(Answer A): Entrepreneurs are typically driven by a strong desire to achieve and excel. They are competitive, have a high need for achievement, and are constantly seeking ways to improve and succeed in their ventures​​.

Opportunity Tolerance(Answer B): While entrepreneurs need to tolerate risks and seize opportunities, the term "opportunity tolerance" is not specifically highlighted as a key characteristic of an entrepreneurial personality.

Laissez-faire(Answer C) andEmployee Empowerment(Answer D): These are management styles or strategies rather than personal characteristics of entrepreneurs.

The competitive force reduced by barriers such as government policies, capital requirements, brand identification, and cost disadvantages is the threat of new entrants. These barriers make it difficult for new firms to enter an industry and compete with established companies, thereby protecting existing firms from new competitors​​.

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.