C720 WGU ALL COMPETENCIES QUESTIONS &
ANSWERS
________ and ________ crucial and relate to both the design of goods and services. -
Answers- Product & process design
Tangible Goods - Answers- Merchandise you can put your hands on. Physical objects.
Intangible Good - Answers- Good that does not have a physical nature - can be digital
goods (apps, downloadable music) or virtual (bit-coin)
Knowledge, education, software, consulting, media, information and data, etc.
Eliminating functional silos allows teams to: - Answers- share knowledge and
understanding of decision making across the organization
What is a functional silo? - Answers- This expression is used when describing an
organisation whose functions tend to be less communicative and collaborative.
Decentralizing decision making leads to more cross-functional teams *very good
Cross- Functionality - Answers- Cross-functional teams consist of members from the
same level of hierarchy but from different functional parts of the organization. They can
be quite advantageous because of the synergy created from the diversity in
experiences, skills, and background, which can lead to creativity and enhanced
problem-solving
**Unique feature important to any organization
Relative Advantage - Answers- the difference between the lowest cost producer and
the next-lowest cost producer.
Ethics are __________ than legal standards - Answers- more stringent (stricter)
Sustainability - Answers- defined broadly in operations and supply chain management
as the ethical issues an organization faces to balance financial performance while
maintaining social responsibility standards and a responsible environmental profile.
It may manifest in a variety of initiatives including minimizing or mitigating environmental
pollution and may range to such efforts as employee wellness programs.
Sustainability is a key ethical issue in operations and supply chain management
impacting organizations and operations.
,Sustainability can also relate to the so-called "triple bottom line" of profitability,
employee wellness, and environmental viability. Sustainability should be contrasted with
vulnerability and, as such, should be perceived as a risk management strategy.
competitive advantage - Answers- capability that customers value, such as short
delivery leadtime or high product quality that gives an organization an edge against its
competition.
VIRAL ; is the framework for ________ - Answers- Competitive Advantage and stands
for: VALUE to customers; INIMITABLE (not easily imitated); RARE; and the organization
must have the APTITUDE (capability) of LIFESPAN (sustainability) to earn appropriate
returns on the advantage.
SWOT stands for: - Answers- Strengths
Weaknesses
Opportunities
Threats
First two are INTERNAL, last two are EXTERNAL
Productivity (equation) - Answers- mathematical calculation
Productivity = Output/Input
Increases in productivity ________________________________________ - Answers-
reduce costs, lower prices, and provide a basis for competing in world markets
Allows organizations to do the same work with less effort OR more work with the same
effort.
Labor Productivity (equation) - Answers- mathematical calculation
Labor Productivity = Quantity or Value of Units Produced / Labor Hours or Labor Costs
Inventory - Answers- the term for the goods available for sale and raw materials used to
produce goods available for sale
_________ can help businesses meet demand and work more efficiently - Answers-
Inventory
3 Types of Inventory - Answers- Raw Materials
Work in Process (WIP)
Finished Goods
These parts and materials are obtained from suppliers and are used in the production
process. - Answers- Raw Materials
, These are partly finished parts, components,
subassemblies, or modules. - Answers- Work-In-Process (WIP)
occurs in response to planned events such as advertising, publicity or promotion. The
release of a popular game franchise's latest version
often causes peak demand for a few days or weeks. - Answers- Peak Demand
perpetual inventory system - Answers- continuously monitors inventory levels. It is
also known as a continuous review system.
o Most appropriate for high value and high volume items
o When inventory drops to a predetermined least-acceptable level (the order point),
an order for more can be generated - Answers- perpetual inventory system
What is it when inventory drops to a pre-determined least-acceptable level? - Answers-
Order Point
When inventory levels in a ________ inventory system reach the _____________, an
order for more can be generated. - Answers- Perpetual
Order Point
randomly monitors inventory levels. - Answers- periodic inventory system
o Most appropriate for low value and low volume items
o To be effective, it is designed to place an order only when on-hand inventory
information is available and the supplier is willing to deliver - Answers- periodic
inventory system
The cost to implement ___________________ does not involve expensive computer
equipment and software. - Answers- periodic inventory system
ABC analysis was developed to _______________________ - Answers- determine
which inventory items should receive the highest level of control. Based on focusing
efforts where payoff is the highest.
A Items: very tight control and accurate records
B Items: Less tightly controlled and good records
C Items: Simplest controls possible and minimal records
ABC analysis follows the _______________ principle - Answers- Pareto
Pareto Principle - Answers- 80/20 Rule
Only 20% of all items account for 80% of the total dollar usage, while the remaining
items frequently account for only 20% of the dollar usage.
ANSWERS
________ and ________ crucial and relate to both the design of goods and services. -
Answers- Product & process design
Tangible Goods - Answers- Merchandise you can put your hands on. Physical objects.
Intangible Good - Answers- Good that does not have a physical nature - can be digital
goods (apps, downloadable music) or virtual (bit-coin)
Knowledge, education, software, consulting, media, information and data, etc.
Eliminating functional silos allows teams to: - Answers- share knowledge and
understanding of decision making across the organization
What is a functional silo? - Answers- This expression is used when describing an
organisation whose functions tend to be less communicative and collaborative.
Decentralizing decision making leads to more cross-functional teams *very good
Cross- Functionality - Answers- Cross-functional teams consist of members from the
same level of hierarchy but from different functional parts of the organization. They can
be quite advantageous because of the synergy created from the diversity in
experiences, skills, and background, which can lead to creativity and enhanced
problem-solving
**Unique feature important to any organization
Relative Advantage - Answers- the difference between the lowest cost producer and
the next-lowest cost producer.
Ethics are __________ than legal standards - Answers- more stringent (stricter)
Sustainability - Answers- defined broadly in operations and supply chain management
as the ethical issues an organization faces to balance financial performance while
maintaining social responsibility standards and a responsible environmental profile.
It may manifest in a variety of initiatives including minimizing or mitigating environmental
pollution and may range to such efforts as employee wellness programs.
Sustainability is a key ethical issue in operations and supply chain management
impacting organizations and operations.
,Sustainability can also relate to the so-called "triple bottom line" of profitability,
employee wellness, and environmental viability. Sustainability should be contrasted with
vulnerability and, as such, should be perceived as a risk management strategy.
competitive advantage - Answers- capability that customers value, such as short
delivery leadtime or high product quality that gives an organization an edge against its
competition.
VIRAL ; is the framework for ________ - Answers- Competitive Advantage and stands
for: VALUE to customers; INIMITABLE (not easily imitated); RARE; and the organization
must have the APTITUDE (capability) of LIFESPAN (sustainability) to earn appropriate
returns on the advantage.
SWOT stands for: - Answers- Strengths
Weaknesses
Opportunities
Threats
First two are INTERNAL, last two are EXTERNAL
Productivity (equation) - Answers- mathematical calculation
Productivity = Output/Input
Increases in productivity ________________________________________ - Answers-
reduce costs, lower prices, and provide a basis for competing in world markets
Allows organizations to do the same work with less effort OR more work with the same
effort.
Labor Productivity (equation) - Answers- mathematical calculation
Labor Productivity = Quantity or Value of Units Produced / Labor Hours or Labor Costs
Inventory - Answers- the term for the goods available for sale and raw materials used to
produce goods available for sale
_________ can help businesses meet demand and work more efficiently - Answers-
Inventory
3 Types of Inventory - Answers- Raw Materials
Work in Process (WIP)
Finished Goods
These parts and materials are obtained from suppliers and are used in the production
process. - Answers- Raw Materials
, These are partly finished parts, components,
subassemblies, or modules. - Answers- Work-In-Process (WIP)
occurs in response to planned events such as advertising, publicity or promotion. The
release of a popular game franchise's latest version
often causes peak demand for a few days or weeks. - Answers- Peak Demand
perpetual inventory system - Answers- continuously monitors inventory levels. It is
also known as a continuous review system.
o Most appropriate for high value and high volume items
o When inventory drops to a predetermined least-acceptable level (the order point),
an order for more can be generated - Answers- perpetual inventory system
What is it when inventory drops to a pre-determined least-acceptable level? - Answers-
Order Point
When inventory levels in a ________ inventory system reach the _____________, an
order for more can be generated. - Answers- Perpetual
Order Point
randomly monitors inventory levels. - Answers- periodic inventory system
o Most appropriate for low value and low volume items
o To be effective, it is designed to place an order only when on-hand inventory
information is available and the supplier is willing to deliver - Answers- periodic
inventory system
The cost to implement ___________________ does not involve expensive computer
equipment and software. - Answers- periodic inventory system
ABC analysis was developed to _______________________ - Answers- determine
which inventory items should receive the highest level of control. Based on focusing
efforts where payoff is the highest.
A Items: very tight control and accurate records
B Items: Less tightly controlled and good records
C Items: Simplest controls possible and minimal records
ABC analysis follows the _______________ principle - Answers- Pareto
Pareto Principle - Answers- 80/20 Rule
Only 20% of all items account for 80% of the total dollar usage, while the remaining
items frequently account for only 20% of the dollar usage.
