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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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Name: Score: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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