WGU C720 All Competencies Latest 2022
Already Passed
________ 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
Already Passed
________ 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
