Operations Management > EXAM > WGU - C720 Operations and Supply Chain Management Already Passed (All)

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WGU - C720 Operations and Supply Chain Management Already Passed

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Ethics ✔✔Are a sense of what is right and wrong that guide behavior. This set of standards is often more stringent than legal standards. Test questions on the OA will require you to understand r... ight and wrong regarding common business practices. Anything related to fraud, wrong doing, dishonesty, etc., even if it is to protect the company, is considered unethical business practices. Sustainability ✔✔Is 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. Competitive Advantage ✔✔Is a capability that customers value, such as short delivery leadtime or high product quality that gives an organization an edge against its competition. o Some scholars use the acronym VIRAL as a framework for competitive advantage. The advantage must provide Value to consumers; it should be Inimitable (not easily imitated), Rare, and an organization must have the Aptitude (capability) and Lifespan (sustainability) to earn appropriate returns on the advantage. SWOT Analysis ✔✔Is a simple but useful technique for analyzing an organization's strengths and weaknesses and the opportunities and threats that it faces. It helps a company focus on its strengths, minimize threats, [Show More]

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