BYU GSCM 310 FINAL | GSCM 310 FINAL EXAM STUDY GUIDE | SUPPLY CHAIN
MANAGEMENT PRACTICE QUESTIONS & ANSWERS
Considerations for International Entrance - ANS ✔✔We must be conscious of the physical facilities,
service operations, as well as ownership questions associated with operating internationally
Protectionism - ANS ✔✔Economic policy of shielding an economy from imports.
Globalization - ANS ✔✔the process by which businesses or other organizations develop international
influence or start operating on an international scale.
comparative advantage - ANS ✔✔the ability to produce a good at a lower opportunity cost than another
producer
Physical Operations - ANS ✔✔Having physical locations built/lent. Also called Greenfield Developments
(building from the ground up).
Service Operations - ANS ✔✔Hire employees to represent company internationally ourselves or through
THIRD PARTY.
PEST analysis - ANS ✔✔Scanning of outside influences on an organization
Helps you know if you should enter a new country.
Political
Economic
Sociocultural
Technological
Political - ANS ✔✔Refers to laws, property rights, patents, political stability, and so forth.
Ex: recent laws requiring a certain percentage of electricity has increased demands in solar plants.
Economic - ANS ✔✔Market and trade cycles currency fluctuations specific industry changes customer
preferences and country economic growth forecast.
Ex: China's growing economy = more cars bought in china than all of Europe.
Sociocultural - ANS ✔✔National cultures and values, religion, language, human rights, and population
demographics.
Ex: Chinese culture promotes groups and not individual = knockoffs.
Technological - ANS ✔✔Refers to the maturity of manufacturing equipment information systems
technology platforms and consumer access to technology. Do they have infrastructure to support it?
Ex: increase in service jobs/decrease in manufacturing jobs. Bangladesh.
insourcing - ANS ✔✔the creation of domestic jobs by foreign employers
offshore outsourcing - ANS ✔✔The practice of contracting with an organization to perform some or all
business functions in a country other than the country in which the product or service will be sold
, Farmshoring - ANS ✔✔refers to outsourcing to USA rural-located companies
Homeshoring - ANS ✔✔Occurs when a firm relocates jobs abroad back to its domestic market
Fraud triangle - ANS ✔✔States that individuals are motivated to commit fraud when three elements
come together-- perceived pressure, perceived opportunity, rationalization
Perceived Pressure - ANS ✔✔a situation where someone perceives he or she has a need to commit
fraud; a constraining influence on the will or mind, as a moral force.
Things to do:
- Try to live within our means, care about others, not be selfish, view relationships as long-term rather
than short-term, love neighbor as thy self.
Perceived Opportunity - ANS ✔✔an element of the fraud triangle in which the employee believes a
chance exists to commit fraud, conceal it, and avoid punishment.
Things to do:
- stay away from temptations, be in the middles of the ethics road, live within the bounds of our
personal integrity, must not view circumstances as opportunities to break our moral code but as
opportunities to develop true, value-based character, realize that it can lead us down a slippery slope
where it is hard to climb back.
Rationalization - ANS ✔✔Creating false but plausible excuses to justify unacceptable behavior.
Things to do:
-Develop a strong personal code of ethics and morality, make decisions in advance about how we will act
in potentially compromising situations, remember that it is the seemingly unimportant daily decisions
that define who we are, it can cause us to lose our self-respect.
Tim Ballard's experience - ANS ✔✔Worked for the department security for 10 years until he started his
nonprofit organization.
Scripture that saved Ballard's life. - ANS ✔✔Alma 58:11
Foreign Corrupt Practices Act - ANS ✔✔a law that prohibits U.S. corporations from making illegal
payments to public officials of foreign governments to obtain business rights or to enhance their
business dealings in those countries
Logisitics - ANS ✔✔planning, storing, and movement of inventory.
Containerization: Standardization of loads - ANS ✔✔The container has a reference size of 20 feet long, 8
feet high, and 8 feet wide, corresponding to a 20 ft equivalent unit (TEU). Most common containers are
40 feet in length, permitting them to fit well on a ship, truck, or railcar.
The growing relationship between freight transportation modes and a standardization of loads.
developed by Malcom McLean
Containerization: Flexible for ship, truck, and railcar - ANS ✔✔Railcar and maritime shipping is used for
long distance and trucks for local distribution
-Trucks can be placed on railcars/ships used piggyback.
MANAGEMENT PRACTICE QUESTIONS & ANSWERS
Considerations for International Entrance - ANS ✔✔We must be conscious of the physical facilities,
service operations, as well as ownership questions associated with operating internationally
Protectionism - ANS ✔✔Economic policy of shielding an economy from imports.
Globalization - ANS ✔✔the process by which businesses or other organizations develop international
influence or start operating on an international scale.
comparative advantage - ANS ✔✔the ability to produce a good at a lower opportunity cost than another
producer
Physical Operations - ANS ✔✔Having physical locations built/lent. Also called Greenfield Developments
(building from the ground up).
Service Operations - ANS ✔✔Hire employees to represent company internationally ourselves or through
THIRD PARTY.
PEST analysis - ANS ✔✔Scanning of outside influences on an organization
Helps you know if you should enter a new country.
Political
Economic
Sociocultural
Technological
Political - ANS ✔✔Refers to laws, property rights, patents, political stability, and so forth.
Ex: recent laws requiring a certain percentage of electricity has increased demands in solar plants.
Economic - ANS ✔✔Market and trade cycles currency fluctuations specific industry changes customer
preferences and country economic growth forecast.
Ex: China's growing economy = more cars bought in china than all of Europe.
Sociocultural - ANS ✔✔National cultures and values, religion, language, human rights, and population
demographics.
Ex: Chinese culture promotes groups and not individual = knockoffs.
Technological - ANS ✔✔Refers to the maturity of manufacturing equipment information systems
technology platforms and consumer access to technology. Do they have infrastructure to support it?
Ex: increase in service jobs/decrease in manufacturing jobs. Bangladesh.
insourcing - ANS ✔✔the creation of domestic jobs by foreign employers
offshore outsourcing - ANS ✔✔The practice of contracting with an organization to perform some or all
business functions in a country other than the country in which the product or service will be sold
, Farmshoring - ANS ✔✔refers to outsourcing to USA rural-located companies
Homeshoring - ANS ✔✔Occurs when a firm relocates jobs abroad back to its domestic market
Fraud triangle - ANS ✔✔States that individuals are motivated to commit fraud when three elements
come together-- perceived pressure, perceived opportunity, rationalization
Perceived Pressure - ANS ✔✔a situation where someone perceives he or she has a need to commit
fraud; a constraining influence on the will or mind, as a moral force.
Things to do:
- Try to live within our means, care about others, not be selfish, view relationships as long-term rather
than short-term, love neighbor as thy self.
Perceived Opportunity - ANS ✔✔an element of the fraud triangle in which the employee believes a
chance exists to commit fraud, conceal it, and avoid punishment.
Things to do:
- stay away from temptations, be in the middles of the ethics road, live within the bounds of our
personal integrity, must not view circumstances as opportunities to break our moral code but as
opportunities to develop true, value-based character, realize that it can lead us down a slippery slope
where it is hard to climb back.
Rationalization - ANS ✔✔Creating false but plausible excuses to justify unacceptable behavior.
Things to do:
-Develop a strong personal code of ethics and morality, make decisions in advance about how we will act
in potentially compromising situations, remember that it is the seemingly unimportant daily decisions
that define who we are, it can cause us to lose our self-respect.
Tim Ballard's experience - ANS ✔✔Worked for the department security for 10 years until he started his
nonprofit organization.
Scripture that saved Ballard's life. - ANS ✔✔Alma 58:11
Foreign Corrupt Practices Act - ANS ✔✔a law that prohibits U.S. corporations from making illegal
payments to public officials of foreign governments to obtain business rights or to enhance their
business dealings in those countries
Logisitics - ANS ✔✔planning, storing, and movement of inventory.
Containerization: Standardization of loads - ANS ✔✔The container has a reference size of 20 feet long, 8
feet high, and 8 feet wide, corresponding to a 20 ft equivalent unit (TEU). Most common containers are
40 feet in length, permitting them to fit well on a ship, truck, or railcar.
The growing relationship between freight transportation modes and a standardization of loads.
developed by Malcom McLean
Containerization: Flexible for ship, truck, and railcar - ANS ✔✔Railcar and maritime shipping is used for
long distance and trucks for local distribution
-Trucks can be placed on railcars/ships used piggyback.
