HFT4224 Exam 3 UPDATED Exam
Questions and CORRECT Answers
What percentage of value is created by suppliers? - CORRECT ANSWER - 70-80%
What is critical for competitive advantage and long-term business success? - CORRECT
ANSWER - having great suppliers and maintaining healthy relationships with them
Poor supplier relationships - CORRECT ANSWER - GM
Whole Foods most important supplier - CORRECT ANSWER - UNFI
Vertical Integration - CORRECT ANSWER - owning and operating the entire value chain
4 ways to adopt conscious supplier practices - CORRECT ANSWER - 1. find
opportunities to create value (container store)
2. paying on time (whole foods)
3. treating suppliers fairly (pinching pennies)
4. helping suppliers survive and flourish (POSCO, Honest Tea)
spreading consciousness - CORRECT ANSWER - paying it forward
social responsibility of a business - CORRECT ANSWER - to use its resources and engage
in activities designed to increase its profits so long as instates within the rules of the game, which
is to say, engages in open and free competition without deception or fraud
corporatism or fascism - CORRECT ANSWER - dominating and controlling business to
make it serve the goals of political rulers
, 2 approaches to companies doing community service - CORRECT ANSWER - 1. should
take place on a workday
2. the project should come out of genuine, ongoing, shared concerns
Danny Meyer - CORRECT ANSWER - Used the Union Square Hospitality Group and his
celebrity status to help put an end to hunger in NYC
Isadore Sharp - CORRECT ANSWER - Used Four Seasons as a platform to raise money
and awareness for cancer patients
Whole Foods local citizenship - CORRECT ANSWER - 5% on certain days goes to a
nonprofit of their choice which encourages people from the nonprofit to shop there
citizenship - CORRECT ANSWER - working with communities to serve specific needs
(local)
Rum and Hope - CORRECT ANSWER - running everything themselves to create more
jobs for their people, in return the employees protected the company
Tata Group - CORRECT ANSWER - bought loyalty for life
Whole Foods 2 global nonprofits - CORRECT ANSWER - 1. Whole Planet Foundation
2. Whole Kids Foundation
Global Citizenship - CORRECT ANSWER - the responsibility to al the communities in
the world where you trade
Whole Planet Foundation - CORRECT ANSWER - works with microfinance
organizations to provide fund over 200,000 microcredit loans which recycle back and loaned out
again within the community
Questions and CORRECT Answers
What percentage of value is created by suppliers? - CORRECT ANSWER - 70-80%
What is critical for competitive advantage and long-term business success? - CORRECT
ANSWER - having great suppliers and maintaining healthy relationships with them
Poor supplier relationships - CORRECT ANSWER - GM
Whole Foods most important supplier - CORRECT ANSWER - UNFI
Vertical Integration - CORRECT ANSWER - owning and operating the entire value chain
4 ways to adopt conscious supplier practices - CORRECT ANSWER - 1. find
opportunities to create value (container store)
2. paying on time (whole foods)
3. treating suppliers fairly (pinching pennies)
4. helping suppliers survive and flourish (POSCO, Honest Tea)
spreading consciousness - CORRECT ANSWER - paying it forward
social responsibility of a business - CORRECT ANSWER - to use its resources and engage
in activities designed to increase its profits so long as instates within the rules of the game, which
is to say, engages in open and free competition without deception or fraud
corporatism or fascism - CORRECT ANSWER - dominating and controlling business to
make it serve the goals of political rulers
, 2 approaches to companies doing community service - CORRECT ANSWER - 1. should
take place on a workday
2. the project should come out of genuine, ongoing, shared concerns
Danny Meyer - CORRECT ANSWER - Used the Union Square Hospitality Group and his
celebrity status to help put an end to hunger in NYC
Isadore Sharp - CORRECT ANSWER - Used Four Seasons as a platform to raise money
and awareness for cancer patients
Whole Foods local citizenship - CORRECT ANSWER - 5% on certain days goes to a
nonprofit of their choice which encourages people from the nonprofit to shop there
citizenship - CORRECT ANSWER - working with communities to serve specific needs
(local)
Rum and Hope - CORRECT ANSWER - running everything themselves to create more
jobs for their people, in return the employees protected the company
Tata Group - CORRECT ANSWER - bought loyalty for life
Whole Foods 2 global nonprofits - CORRECT ANSWER - 1. Whole Planet Foundation
2. Whole Kids Foundation
Global Citizenship - CORRECT ANSWER - the responsibility to al the communities in
the world where you trade
Whole Planet Foundation - CORRECT ANSWER - works with microfinance
organizations to provide fund over 200,000 microcredit loans which recycle back and loaned out
again within the community
