BUAD 331 Final Exam Knowledge Checks Correct 100%(RATED A+)

Why might a company consider expanding its supplier chain internationally? -To obtain access to lower-cost suppliers -To take advantage of a skilled base in another country -To support international expansion of sales -To fend off competition from an international competitor - ANSWERAll of the above 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 (T/F) - 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? -Natural disasters like floods -Supplier bankruptcy -Plant fire at a supplier - ANSWERAll of the above 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: -past impacts in terms of cost -historical information relative to past frequencies -subjective assessments based on knowledge -both B and C -all of the above - ANSWERboth B and C What would be the best approach to use if a manager wants to assess risk across key loc