2025/2026 :: 100% VERIFIED Q&A FOR A+ EXAM
SUCCESS
1. Operations - The process used to acquire inputs, such as people, capital, and
material, and transform them into outputs, such as products and services.
2. Operations Manager - They allocate resources.
3. Capital - Facilities and equipment
4. Competitive Advantage - Developing capabilities that customers value, can be
sustained over the long-term, and competitors find difficult to replicate.
5. Inseparability - The process of separating production from consumption; cannot be
done for services because they are produced and consumed
simultaneously.
6. Technology - The application of knowledge, tools, processes, and procedures to solve
problems.
7. 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.
8. Product Technology - The application of knowledge to improve the
product.
9. Process - How to accomplish a task.
,10. Process Design - How a product is made; can fundamentally alter the nature of the
product. Example: changing the taste of Coca-Cola.
11. Process Technology - The application of knowledge to improve a process.
12. Cross-Functionality - When individuals with different expertise work towards a
common goal; this is an essential business process.
13. Concurrent Engineering - Completing product design and process design
simultaneously.
14. Functional Areas - Subsystems within an organization, such as marketing, finance,
and accounting, that are linked together by a common organizational goal.
15. 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.
16. Key Policies - Main goals of an organization.
17. Organizational Structure - The formal relationships among different functional areas
that aids in communication.
18. 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.
19. North American Free Trade Agreement (NAFTA) - A free trade agreement between
the United State, Mexico, and Canada to reduce tariffs and other trade
restrictions.
, 20. General Agreement on Tariffs and Trade (GATT) - A trade agreement designed to
reduce tariffs and other trade restrictions.
21. Sustainability - Balancing the interconnected obligations to economic viability,
society, and the environment (the triple bottom line).
22. What is the percentage of businesses that operate within the service sector? - 88
percent
23. Supporting Goods - Supplies and equipment that aid in the development of products
and services.
24. Market Share - The percentage of sales in a particular market.
25. VIRAL - Value, Inimitable, rare, aptitude, and lifespan.
26. SWOT Analysis - Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
27. Requirements for developing competitive advantage - SWOT, business process,
competitive capabilities, and customer requirements.
28. Learning Curve - Continuously improving a product to make it better and
cheaper.
29. Synergy - Teamwork where the whole is greater than the sum of its parts.
30. Key Processes - Strategy development, product development, system development,
and order fulfillment.