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C720 WGU All Competencies, Questions and answers, 100% Accurate, rated A+.

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C720 WGU All Competencies, Questions and answers, 100% Accurate, rated A+. ________ and ________ crucial and relate to both the design of goods and services. - -Product & process design Tangible Goods - -Merchandise you can put your hands on. Physical objects. Intangible Good - -Good th...

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  • February 25, 2023
  • 31
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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C720 WGU All Competencies, Questions
and answers, 100% Accurate, rated A+.


________ and ________ crucial and relate to both the design of goods and services. - ✔✔-Product &
process design




Tangible Goods - ✔✔-Merchandise you can put your hands on. Physical objects.




Intangible Good - ✔✔-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.




Product Design - ✔✔-the determination of the characteristics, features, and performance of the

product.




Process Design - ✔✔-describes how a product will be made or processed




Product Technology - ✔✔-Application of knowledge to improve the product




Process Technology - ✔✔-Application of knowledge to improve a process

,Common goals are developed during the budgeting and planning process, which happens ___________ -
✔✔-yearly




Eliminating functional silos allows teams to: - ✔✔-share knowledge and understanding of decision
making across the organization




What is a functional silo? - ✔✔-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 - ✔✔-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 - ✔✔-the difference between the lowest cost producer and the next-lowest cost
producer.




Ethics are __________ than legal standards - ✔✔-more stringent (stricter)

,Sustainability - ✔✔-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 - ✔✔-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 ________ - ✔✔-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: - ✔✔-Strengths

Weaknesses

, Opportunities

Threats




First two are INTERNAL, last two are EXTERNAL




Productivity (equation) - ✔✔-mathematical calculation

Productivity = Output/Input




Increases in productivity ________________________________________ - ✔✔-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) - ✔✔-mathematical calculation

Labor Productivity = Quantity or Value of Units Produced / Labor Hours or Labor Costs




Inventory - ✔✔-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 - ✔✔-Inventory




3 Types of Inventory - ✔✔-Raw Materials

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