WGU C720 EXAM SCRIPT UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS VERIFIED
●● Operations Manager
Answer: They allocate resources.
●● Capital
Answer: Facilities and equipment
●● Competitive Advantage
Answer: Developing capabilities that customers value, can be sustained
over the long-term, and competitors find difficult to replicate.
●● Inseparability
Answer: The process of separating production from consumption;
cannot be done for services because they are produced and consumed
simultaneously.
●● Technology
Answer: The application of knowledge, tools, processes, and procedures
to solve problems.
,●● Product Design
Answer: The characteristics, features, and performance of the product;
how the product functions; does not fundamentally change the product.
Example: changing Coca-Cola's beverage containers from glass to
aluminum.
●● Product Technology
Answer: The application of knowledge to improve the product.
●● Process
Answer: How to accomplish a task.
●● Process Design
Answer: How a product is made; can fundamentally alter the nature of
the product. Example: changing the taste of Coca-Cola.
●● Process Technology
Answer: The application of knowledge to improve a process.
●● Cross-Functionality
Answer: When individuals with different expertise work towards a
common goal; this is an essential business process.
,●● Concurrent Engineering
Answer: Completing product design and process design simultaneously.
●● Functional Areas
Answer: Subsystems within an organization, such as marketing, finance,
and accounting, that are linked together by a common organizational
goal.
●● Strategy
Answer: Consists of the organizational goals and the methods of
implementing the goals; every element of the SWOT analysis should be
considered when developing strategies.
●● Key Policies
Answer: Main goals of an organization.
●● Organizational Structure
Answer: The formal relationships among different functional areas that
aids in communication.
●● Relative Advantage
Answer: Where one entity has an advantage over another; will often
trade their specialized products for those that they do not produce;
, companies with a relative advantage are able to produce products at a
lower cost than their competitors.
●● North American Free Trade Agreement (NAFTA)
Answer: A free trade agreement between the United State, Mexico, and
Canada to reduce tariffs and other trade restrictions.
●● General Agreement on Tariffs and Trade (GATT)
Answer: A trade agreement designed to reduce tariffs and other trade
restrictions.
●● Sustainability
Answer: Balancing the interconnected obligations to economic viability,
society, and the environment (the triple bottom line).
●● What is the percentage of businesses that operate within the service
sector?
Answer: 88 percent
●● Supporting Goods
Answer: Supplies and equipment that aid in the development of products
and services.
●● Market Share
ACTUAL QUESTIONS AND CORRECT
ANSWERS VERIFIED
●● Operations Manager
Answer: They allocate resources.
●● Capital
Answer: Facilities and equipment
●● Competitive Advantage
Answer: Developing capabilities that customers value, can be sustained
over the long-term, and competitors find difficult to replicate.
●● Inseparability
Answer: The process of separating production from consumption;
cannot be done for services because they are produced and consumed
simultaneously.
●● Technology
Answer: The application of knowledge, tools, processes, and procedures
to solve problems.
,●● Product Design
Answer: The characteristics, features, and performance of the product;
how the product functions; does not fundamentally change the product.
Example: changing Coca-Cola's beverage containers from glass to
aluminum.
●● Product Technology
Answer: The application of knowledge to improve the product.
●● Process
Answer: How to accomplish a task.
●● Process Design
Answer: How a product is made; can fundamentally alter the nature of
the product. Example: changing the taste of Coca-Cola.
●● Process Technology
Answer: The application of knowledge to improve a process.
●● Cross-Functionality
Answer: When individuals with different expertise work towards a
common goal; this is an essential business process.
,●● Concurrent Engineering
Answer: Completing product design and process design simultaneously.
●● Functional Areas
Answer: Subsystems within an organization, such as marketing, finance,
and accounting, that are linked together by a common organizational
goal.
●● Strategy
Answer: Consists of the organizational goals and the methods of
implementing the goals; every element of the SWOT analysis should be
considered when developing strategies.
●● Key Policies
Answer: Main goals of an organization.
●● Organizational Structure
Answer: The formal relationships among different functional areas that
aids in communication.
●● Relative Advantage
Answer: Where one entity has an advantage over another; will often
trade their specialized products for those that they do not produce;
, companies with a relative advantage are able to produce products at a
lower cost than their competitors.
●● North American Free Trade Agreement (NAFTA)
Answer: A free trade agreement between the United State, Mexico, and
Canada to reduce tariffs and other trade restrictions.
●● General Agreement on Tariffs and Trade (GATT)
Answer: A trade agreement designed to reduce tariffs and other trade
restrictions.
●● Sustainability
Answer: Balancing the interconnected obligations to economic viability,
society, and the environment (the triple bottom line).
●● What is the percentage of businesses that operate within the service
sector?
Answer: 88 percent
●● Supporting Goods
Answer: Supplies and equipment that aid in the development of products
and services.
●● Market Share
