Operations and Supply Chain Management - C720 (WGU)
NEWEST update \LATEST UPDATE WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS \VERIFIED
100% ALREDY GRADED A+
Technology
The application of knowledge, tools, processes, and procedures to
solve problems.
Product Design
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
The application of knowledge to improve the product.
Process
How to accomplish a task.
,Process Design
How a product is made; can fundamentally alter the nature of the product.
Example: changing the taste of Coca-Cola.
Process Technology
The application of knowledge to improve a process.
Cross-Functionality
When individuals with different expertise work towards a common goal;
this is an essential business process.
Concurrent Engineering
Completing product design and process design simultaneously.
Functional Areas
Subsystems within an organization, such as marketing, finance, and
accounting, that are linked together by a common organizational
goal.
Strategy
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
Main goals of an organization.
Organizational Structure
The formal relationships among different functional areas that aids in
communication.
Relative Advantage
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)
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)
A trade agreement designed to reduce tariffs and other trade restrictions.
Sustainability
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?
88 percent
Supporting Goods
Supplies and equipment that aid in the development of products and
services.
Market Share
The percentage of sales in a particular market.
VIRAL
Value, Inimitable, rare, aptitude, and lifespan.
SWOT Analysis
Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
Requirements for developing competitive advantage
SWOT, business process, competitive capabilities, and customer
requirements.
NEWEST update \LATEST UPDATE WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS \VERIFIED
100% ALREDY GRADED A+
Technology
The application of knowledge, tools, processes, and procedures to
solve problems.
Product Design
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
The application of knowledge to improve the product.
Process
How to accomplish a task.
,Process Design
How a product is made; can fundamentally alter the nature of the product.
Example: changing the taste of Coca-Cola.
Process Technology
The application of knowledge to improve a process.
Cross-Functionality
When individuals with different expertise work towards a common goal;
this is an essential business process.
Concurrent Engineering
Completing product design and process design simultaneously.
Functional Areas
Subsystems within an organization, such as marketing, finance, and
accounting, that are linked together by a common organizational
goal.
Strategy
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
Main goals of an organization.
Organizational Structure
The formal relationships among different functional areas that aids in
communication.
Relative Advantage
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)
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)
A trade agreement designed to reduce tariffs and other trade restrictions.
Sustainability
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?
88 percent
Supporting Goods
Supplies and equipment that aid in the development of products and
services.
Market Share
The percentage of sales in a particular market.
VIRAL
Value, Inimitable, rare, aptitude, and lifespan.
SWOT Analysis
Analyzing the internal (strengths and weaknesses) and external
(opportunities and threats) environments.
Requirements for developing competitive advantage
SWOT, business process, competitive capabilities, and customer
requirements.
