WGU C720 Complete OA Exam Questions and Correct Answers 100% Verified Graded A+
Operations - The process used to acquire inputs, such as people, capital, and material, and
transform them into outputs, such as products and services.
Operations Manager - They allocate resources.
Capital - Facilities and equipment
Competitive Advantage - Developing capabilities that customers value, can be sustained
over the long-term, and competitors find difficult to replicate.
Inseparability - The process of separating production from consumption; cannot be done
for services because they are produced and consumed simultaneously.
Technology - The application of knowledge, tools, processes, and procedures to solve
problems.
Product Design - The characteristics, features, and performance of the product; how the
product functions; does not fundamentally change the product. Example: changing Coca-Cola's
beverage containers from glass to aluminum.
Product Technology - The application of knowledge to improve the product.
,Process - How to accomplish a task.
Process Design - How a product is made; can fundamentally alter the nature of the
product. Example: changing the taste of Coca-Cola.
Process Technology - The application of knowledge to improve a process.
Cross-Functionality - When individuals with different expertise work towards a common
goal; this is an essential business process.
Concurrent Engineering - Completing product design and process design simultaneously.
Functional Areas - Subsystems within an organization, such as marketing, finance, and
accounting, that are linked together by a common organizational goal.
Strategy - Consists of the organizational goals and the methods of implementing the goals;
every element of the SWOT analysis should be considered when developing strategies.
Key Policies - Main goals of an organization.
Organizational Structure - The formal relationships among different functional areas that
aids in communication.
,Relative Advantage - Where one entity has an advantage over another; will often trade
their specialized products for those that they do not produce; companies with a relative
advantage are able to produce products at a lower cost than their competitors.
North American Free Trade Agreement (NAFTA) - A free trade agreement between the
United State, Mexico, and Canada to reduce tariffs and other trade restrictions.
General Agreement on Tariffs and Trade (GATT) - A trade agreement designed to reduce
tariffs and other trade restrictions.
Sustainability - Balancing the interconnected obligations to economic viability, society,
and the environment (the triple bottom line).
What is the percentage of businesses that operate within the service sector? - 88 percent
Supporting Goods - Supplies and equipment that aid in the development of products and
services.
Market Share - The percentage of sales in a particular market.
VIRAL - Value, Inimitable, rare, aptitude, and lifespan.
SWOT Analysis - Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
, Requirements for developing competitive advantage - SWOT, business process,
competitive capabilities, and customer requirements.
Learning Curve - Continuously improving a product to make it better and cheaper.
Synergy - Teamwork where the whole is greater than the sum of its parts.
Key Processes - Strategy development, product development, system development, and
order fulfillment.
System - The process of producing goods and system.
Matching - Matching strengths to opportunities.
Converting - Converting weaknesses or threats into strengths or opportunities.
Productivity - Output / Input; the goal is achieving more output given the amount of
inputs, thus saving money and reducing production costs.
The First Revolution - Starting in the late 1800s, increases in manufacturing productivity
reduced the need for physical labor and enabled a shift towards service-based jobs.
Operations - The process used to acquire inputs, such as people, capital, and material, and
transform them into outputs, such as products and services.
Operations Manager - They allocate resources.
Capital - Facilities and equipment
Competitive Advantage - Developing capabilities that customers value, can be sustained
over the long-term, and competitors find difficult to replicate.
Inseparability - The process of separating production from consumption; cannot be done
for services because they are produced and consumed simultaneously.
Technology - The application of knowledge, tools, processes, and procedures to solve
problems.
Product Design - The characteristics, features, and performance of the product; how the
product functions; does not fundamentally change the product. Example: changing Coca-Cola's
beverage containers from glass to aluminum.
Product Technology - The application of knowledge to improve the product.
,Process - How to accomplish a task.
Process Design - How a product is made; can fundamentally alter the nature of the
product. Example: changing the taste of Coca-Cola.
Process Technology - The application of knowledge to improve a process.
Cross-Functionality - When individuals with different expertise work towards a common
goal; this is an essential business process.
Concurrent Engineering - Completing product design and process design simultaneously.
Functional Areas - Subsystems within an organization, such as marketing, finance, and
accounting, that are linked together by a common organizational goal.
Strategy - Consists of the organizational goals and the methods of implementing the goals;
every element of the SWOT analysis should be considered when developing strategies.
Key Policies - Main goals of an organization.
Organizational Structure - The formal relationships among different functional areas that
aids in communication.
,Relative Advantage - Where one entity has an advantage over another; will often trade
their specialized products for those that they do not produce; companies with a relative
advantage are able to produce products at a lower cost than their competitors.
North American Free Trade Agreement (NAFTA) - A free trade agreement between the
United State, Mexico, and Canada to reduce tariffs and other trade restrictions.
General Agreement on Tariffs and Trade (GATT) - A trade agreement designed to reduce
tariffs and other trade restrictions.
Sustainability - Balancing the interconnected obligations to economic viability, society,
and the environment (the triple bottom line).
What is the percentage of businesses that operate within the service sector? - 88 percent
Supporting Goods - Supplies and equipment that aid in the development of products and
services.
Market Share - The percentage of sales in a particular market.
VIRAL - Value, Inimitable, rare, aptitude, and lifespan.
SWOT Analysis - Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
, Requirements for developing competitive advantage - SWOT, business process,
competitive capabilities, and customer requirements.
Learning Curve - Continuously improving a product to make it better and cheaper.
Synergy - Teamwork where the whole is greater than the sum of its parts.
Key Processes - Strategy development, product development, system development, and
order fulfillment.
System - The process of producing goods and system.
Matching - Matching strengths to opportunities.
Converting - Converting weaknesses or threats into strengths or opportunities.
Productivity - Output / Input; the goal is achieving more output given the amount of
inputs, thus saving money and reducing production costs.
The First Revolution - Starting in the late 1800s, increases in manufacturing productivity
reduced the need for physical labor and enabled a shift towards service-based jobs.
