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WGU D081 Innovative and Strategic Thinking (Vocab) 2024!! $12.79   Add to cart

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WGU D081 Innovative and Strategic Thinking (Vocab) 2024!!

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WGU D081 Innovative and Strategic Thinking (Vocab) 2024!!

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  • October 17, 2024
  • 61
  • 2024/2025
  • Exam (elaborations)
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177 Multiple choice questions

Definition 1 of 177
Data is not always the driver of decision-making. Some situations require managers to make quick
decisions, align to actions dictated by upper management, or draw upon intuition and leadership
skills.

Performance Measure

Erik Erikson


Key Point

Business Model

Term 2 of 177
Centralization

Delegation of tasks to lower-level employees for efficiency


Collaboration between different teams to achieve common goals

Concentration or consolidation of control under one authority

Distribution of responsibilities across multiple departments

,Definition 3 of 177
These risks involve damage to the perception of a company's brand or reputation through
negative publicity (lawsuits, social media, regulatory violations, and so on) that can impact
revenue. This may be linked to controllable events, such as a data breach stemming from
inadequate security processes or uncontrollable events.

Top-down approach


Reputational risk and branding

Personnel risks


Total cost of ownership

Term 4 of 177
Cost-Benefit Analysis

Evaluation of the total cost of ownership of a solution compared to the expected return on
investment


Assessment of employee performance based on their individual contributions

Review of customer satisfaction metrics to improve service delivery

Analysis of market trends to predict future sales growth

Definition 5 of 177
Operational risks relate to the ongoing day-to-day business activities of the organization.4 These
risks can arise due to choices about design and use of processes to create and deliver goods and
services. They can include production errors, substandard raw materials, and technology
malfunctions.

Moral Loss


Operational Loss

Time Element Loss

High Risk Loss

,Term 6 of 177
Management Information Systems

A database for storing customer feedback and reviews

An information system to organize and coordinate business data to support analysis and
decision-making


A system for tracking employee attendance and performance

A software tool for designing marketing campaigns

Term 7 of 177
Which type of innovation adds indirect value to customers by lowering costs and increasing the
quality of new or existing products or services?

Product


Prototype

Process

Strategic

Term 8 of 177
A company designed and evaluated a new product concept with customers and received useful
feedback to improve the product's design.
Which stage of design thinking should the company address next?

Prototype

Process

Arbitrate

Rapid Prototyping

, Definition 9 of 177
Business analysis model that explores the impact of competition in an organization's
microenvironment from industry rivals, new entrants, substitute products, suppliers, and buyers

Porter's Five Forces

Divisional Organization

Threat Of New Entrants

Five Forces Model

Definition 10 of 177
The process is particularly useful as an approach to wicked problems of which defining the
problem and the solution is part of the challenge.

Key Point

Erik Erikson

Performance Measure

Implement Stage

Definition 11 of 177
Contracts, laws, intellectual property rights

Sociocultural Factors

Economic Factors

Legal Factors

Legal Risks

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