Operations and Supply Chain Management - C720 (WGU) Test with
Verified Answers Rated A
Operations - -The process used to acquire
inputs, such as people, capital, and material, and Process Technology - -The application of
transform them into outputs, such as products and knowledge to improve a process.
services.
Cross-Functionality - -When individuals with
Operations Manager - -They allocate different expertise work towards a common goal; this
resources. is an essential business process.
Capital - -Facilities and equipment Concurrent Engineering - -Completing product
design and process design simultaneously.
Competitive Advantage - -Developing
capabilities that customers value, can be sustained Functional Areas - -Subsystems within an
over the long-term, and competitors find difficult to organization, such as marketing, finance, and
replicate. accounting, that are linked together by a common
organizational goal.
Inseparability - -The process of separating
production from consumption; cannot be done for Strategy - -Consists of the organizational goals
services because they are produced and consumed and the methods of implementing the goals; every
simultaneously. element of the SWOT analysis should be considered
when developing strategies.
Technology - -The application of knowledge,
tools, processes, and procedures to solve problems. Key Policies - -Main goals of an organization.
Product Design - -The characteristics, features, Organizational Structure - -The formal
and performance of the product; how the product relationships among different functional areas that
functions; does not fundamentally change the aids in communication.
product. Example: changing Coca-Cola's beverage
containers from glass to aluminum.
Relative Advantage - -Where one entity has an
advantage over another; will often trade their
Product Technology - -The application of specialized products for those that they do not
knowledge to improve the product. produce; companies with a relative advantage are
able to produce products at a lower cost than their
competitors.
Process - -How to accomplish a task.
North American Free Trade Agreement (NAFTA) -
Process Design - -How a product is made; can -A free trade agreement between the United
fundamentally alter the nature of the product. State, Mexico, and Canada to reduce tariffs and other
Example: changing the taste of Coca-Cola. trade restrictions.
, Operations and Supply Chain Management - C720 (WGU) Test with
Verified Answers Rated A
General Agreement on Tariffs and Trade (GATT) -
-A trade agreement designed to reduce tariffs
and other trade restrictions. System - -The process of producing goods and
system.
Sustainability - -Balancing the interconnected
obligations to economic viability, society, and the Matching - -Matching strengths to
environment (the triple bottom line). opportunities.
What is the percentage of businesses that operate Converting - -Converting weaknesses or
within the service sector? - -88 percent threats into strengths or opportunities.
Supporting Goods - -Supplies and equipment Productivity - -Output / Input; the goal is
that aid in the development of products and services. achieving more output given the amount of inputs,
thus saving money and reducing production costs.
Market Share - -The percentage of sales in a
particular market. The First Revolution - -Starting in the late
1800s, increases in manufacturing productivity
reduced the need for physical labor and enabled a
VIRAL - -Value, Inimitable, rare, aptitude, and shift towards service-based jobs.
lifespan.
The Second Revolution - -Productivity and
SWOT Analysis - -Analyzing the internal efficiency improvements in manufacturing freed
(strengths and weaknesses) and external resources for the rapid expansion of the service
(opportunities and threats) environments. industry.
Requirements for developing competitive advantage The Third Revolution - -Also known as the
- -SWOT, business process, competitive post-industrial era, this revolution began in the 1950s
capabilities, and customer requirements. with the development of computers. This technology
has allowed fewer people to do more work.
Learning Curve - -Continuously improving a
product to make it better and cheaper. Reliability - -The ability to perform dependably
and accurately.
Synergy - -Teamwork where the whole is
greater than the sum of its parts. Assurance - -Knowledge and courtesy of
employees and their ability to convey trust and
confidence.
Key Processes - -Strategy development,
product development, system development, and
order fulfillment. Process Redesign - -The complete overhaul of
Verified Answers Rated A
Operations - -The process used to acquire
inputs, such as people, capital, and material, and Process Technology - -The application of
transform them into outputs, such as products and knowledge to improve a process.
services.
Cross-Functionality - -When individuals with
Operations Manager - -They allocate different expertise work towards a common goal; this
resources. is an essential business process.
Capital - -Facilities and equipment Concurrent Engineering - -Completing product
design and process design simultaneously.
Competitive Advantage - -Developing
capabilities that customers value, can be sustained Functional Areas - -Subsystems within an
over the long-term, and competitors find difficult to organization, such as marketing, finance, and
replicate. accounting, that are linked together by a common
organizational goal.
Inseparability - -The process of separating
production from consumption; cannot be done for Strategy - -Consists of the organizational goals
services because they are produced and consumed and the methods of implementing the goals; every
simultaneously. element of the SWOT analysis should be considered
when developing strategies.
Technology - -The application of knowledge,
tools, processes, and procedures to solve problems. Key Policies - -Main goals of an organization.
Product Design - -The characteristics, features, Organizational Structure - -The formal
and performance of the product; how the product relationships among different functional areas that
functions; does not fundamentally change the aids in communication.
product. Example: changing Coca-Cola's beverage
containers from glass to aluminum.
Relative Advantage - -Where one entity has an
advantage over another; will often trade their
Product Technology - -The application of specialized products for those that they do not
knowledge to improve the product. produce; companies with a relative advantage are
able to produce products at a lower cost than their
competitors.
Process - -How to accomplish a task.
North American Free Trade Agreement (NAFTA) -
Process Design - -How a product is made; can -A free trade agreement between the United
fundamentally alter the nature of the product. State, Mexico, and Canada to reduce tariffs and other
Example: changing the taste of Coca-Cola. trade restrictions.
, Operations and Supply Chain Management - C720 (WGU) Test with
Verified Answers Rated A
General Agreement on Tariffs and Trade (GATT) -
-A trade agreement designed to reduce tariffs
and other trade restrictions. System - -The process of producing goods and
system.
Sustainability - -Balancing the interconnected
obligations to economic viability, society, and the Matching - -Matching strengths to
environment (the triple bottom line). opportunities.
What is the percentage of businesses that operate Converting - -Converting weaknesses or
within the service sector? - -88 percent threats into strengths or opportunities.
Supporting Goods - -Supplies and equipment Productivity - -Output / Input; the goal is
that aid in the development of products and services. achieving more output given the amount of inputs,
thus saving money and reducing production costs.
Market Share - -The percentage of sales in a
particular market. The First Revolution - -Starting in the late
1800s, increases in manufacturing productivity
reduced the need for physical labor and enabled a
VIRAL - -Value, Inimitable, rare, aptitude, and shift towards service-based jobs.
lifespan.
The Second Revolution - -Productivity and
SWOT Analysis - -Analyzing the internal efficiency improvements in manufacturing freed
(strengths and weaknesses) and external resources for the rapid expansion of the service
(opportunities and threats) environments. industry.
Requirements for developing competitive advantage The Third Revolution - -Also known as the
- -SWOT, business process, competitive post-industrial era, this revolution began in the 1950s
capabilities, and customer requirements. with the development of computers. This technology
has allowed fewer people to do more work.
Learning Curve - -Continuously improving a
product to make it better and cheaper. Reliability - -The ability to perform dependably
and accurately.
Synergy - -Teamwork where the whole is
greater than the sum of its parts. Assurance - -Knowledge and courtesy of
employees and their ability to convey trust and
confidence.
Key Processes - -Strategy development,
product development, system development, and
order fulfillment. Process Redesign - -The complete overhaul of
