BUAD 331 Final Exam Questions & Answers(RATED A+)

Why might a company consider expanding its supply chain internationally? - ANSWERAll of the above (To obtain access to lower-cost suppliers To take advantage of a skilled labor base in another country To support international expansion of sales To fend off competition from an international competitor) What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular with companies today? - ANSWERRegional strategy that groups countries into clusters What is the most common way that countries agree to increase trade? - ANSWERThrough negotiating bilateral or multilateral FTAs When was the World Trade Organization founded? - ANSWER1995 The legal system used in the United States is based on: - ANSWERcommon law. Supply chain management has a widely accepted definition that does not vary substantially between countries. - ANSWERFalse Which framework is most useful for companies wanting to build an initial assessment of the general operating environment in a country? - ANSWEREPIC What events can result in a supply chain disruption? - ANSWERAll of the above (Natural disasters like floods Supplier bankruptcy Plant fire at a supplier) Which of the following was NOT discussed as examples of disruption impacts? - ANSWERManagement stress and turnover A strike has just occurred at a key supplier. Which phase is the firm most likely dealing with? - ANSWERPre-Due date phase When determining the potential for the likelihood of a particular event, a manager may rely on: - ANSWERBoth B and C (historical information relative to past frequencies. subjective assessments based on knowledge.) Wha