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WGU C720 OA LATEST EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)
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WGU C720 OA LATEST EXAM REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)
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WGU C720 OA LATEST EXAM REAL EXAM 200QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS)
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.
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.
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.
The Second Revolution - Productivity and efficiency improvements in manufacturing
freed resources for the rapid expansion of the service industry.
The Third Revolution - Also known as the post-industrial era, this revolution began in
the 1950s with the development of computers. This technology has allowed fewer
people to do more work.
Reliability - The ability to perform dependably and accurately.
Assurance - Knowledge and courtesy of employees and their ability to convey trust and
confidence.
Process Redesign - The complete overhaul of a process to improve performance.
Percent Change in Productivity - [(New Productivity - Old Productivity)/Old Productivity]
* 100
Quality (internal) - How quality is defined by the business; often measured as the
amount of a desired attribute; objective.
Quality (external) - How quality is defined by the customer and the product's fitness for
use; meets customer's needs and expectations; subjective.
Questions for Customers when Improving Products - Ask what they value (not just what
they want), how do they work, what makes them happy, and feedback on specific
product attributes.
Costs of Quality - Failure costs, appraisal costs, and prevention costs.
Failure Costs - Costs accrued by the organization or customer as the result of a failure
of the product.
Appraisal Costs - Investments in measuring quality and assessing customer
satisfaction.
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