WGU D081 Innovative and Strategic Thinking Exam Questions with Detailed Answers Already Graded A+

WGU D081 Innovative and Strategic Thinking Exam Questions with Detailed Answers Already Graded A+ 1. Design Thinking - ANSWER A human-centered process for innovation consisting of six iterative stages—empathize, define, ideate, prototype, test, and implement 2. Scientific Method - ANSWER Empirical approach or procedure used to hypothesize and test observations 3. Breakthrough - ANSWER The development of an entirely new product or process. 4. Business Analysis - ANSWER Use of data about the internal and external business environment to identify business needs and objectives. 5. Creativity - ANSWER Generation of novel or unique ideas. 6. Innovation - ANSWER The process of trying to get value out of these ideas. 7. Incremental Innovations - ANSWER Gradual improvements to products or processes. 8. Transformational - ANSWER Organizational adaptation and development of new processes and business models. 9. Critical Thinking - ANSWER Disciplined process of rational, evidenced based, and open-minded thinking that involves analysis and evaluation of inputs to reach an answer. 10. Customer Value - ANSWER The benefit (vs. cost) a customer receives from a product or service offering 11. Data Analysis - ANSWER Process of evaluating and interpreting data using analytical and statistical tools to uncover business insights 12. Decision Making Process - ANSWER A seven-step process to make strategic decisions informed by data. 13. Defined Benefit Plan - ANSWER Stage of Design Thinking process that builds on observations of users to identify and refine a problem statement 14. Invention - ANSWER The creation of a unique new idea, process, or object. 15. Iterative - ANSWER Repeated cycles that increasingly approach the desired result. 16. KPIs - ANSWER Key Performance Indicators, or the most important metrics for an area of the business 17. Macro Environment - ANSWER The whole of the organization's external and uncontrollable environment. 18. Management Information Systems (MIS) - ANSWER An information system to organize and coordinate business data to support analysis and decision-making. 19. Market Culture - ANSWER Type of externally focused, controlled organizational culture. 20. Market Share - ANSWER The percentage of sales in a market controlled by a particular company or product. 21. Micro Environment - ANSWER Elements in an organization's immediate external environment that effect its performance. 22. Multidivisional - ANSWER Type of organizational structure where multiple semiautonomous divisions report to central management (such as subsidiaries to a parent company). 23. Organizational Culture - ANSWER The beliefs, values, assumptions, expectations, priorities, behaviors, and interaction styles that define the unique social and psychological environment of an organization 24. Organizational Values - ANSWER The fundamental beliefs and principles upon which an organization and its behavior are based 25. Porter's Five Forces - ANSWER Business analysis model that explores the impact of competition in an organization's microenvironment from industry rivals, new entrants, substitute products, suppliers, and buyers. 26. Preventable Risks - ANSWER Situations within an organization's control (or ability to avoid) that could expose it to liability or loss. 27. Problem Statement - ANSWER Brief description of the issue to be addressed through the design of a solution. 28. Process Innovations - ANSWER New or improved ways of conducting business, such as the application of new technology, production techniques, or distribution methods 29. Product Innovations - ANSWER New or improved goods or services offered to the market. 30. Prototype - ANSWER Stage of Design Thinking process where designers create testable versions of the ideated solution; draft or example version of a solution that can be tested and evaluated. 31. Qualitative - ANSWER Data that is non-numeric, often collected through interviews, observations, focus groups, and open-ended surveys. 32. Quantitative - ANSWER Numeric data (information that can be measured with numbers to answer how much, how many, how often). 33. Research and Development (R&D) - ANSWER Organizational activities with the goal of innovating products services.