Buad-331 final exam Question And
Answers
Why might a company consider expanding its supply chain internationally? - CORRECT
ANSWER-All of the above
What is the biggest cause of difficulties in working with another culture? - CORRECT
ANSWER-Different ways of making decisions and approaching business
Which supply chain strategy is most popular with companies today? - CORRECT
ANSWER-Regional strategy that groups countries into clusters
What is the most common way that countries agree to increase trade? - CORRECT
ANSWER-Through negotiating bilateral or multilateral FTAs
When was the World Trade Organization founded? - CORRECT ANSWER-1995
The legal system used in the United States is based on: - CORRECT ANSWER-
common law.
Supply chain management has a widely accepted definition that does not vary
substantially between countries. - CORRECT ANSWER-false
Which framework is most useful for companies wanting to build an initial assessment of
the general operating environment in a country? - CORRECT ANSWER-EPIC
What type of company will likely work with international supply chains? - CORRECT
ANSWER-all of the above
Labor laws in the United States are generally seen to be more-friendly to the
international worker than those in most other countries. - CORRECT ANSWER-false
When entering a new international market, the following question(s) should be asked to
understand cultural differences: - CORRECT ANSWER-all of the above
The _______ was created as an international agency to oversee the new exchange rate
system and to help bridge difficulties and financial crises in individual member
companies. - CORRECT ANSWER-IMF
Two-thirds of the world's countries including France and Germany use what type of law
as the basis for their legal system? - CORRECT ANSWER-Civil Law
, Products that are sold outside of normal distribution channels are referred to as
"____________". - CORRECT ANSWER-White Markets
Black Markets
Gray Markets
Blue Markets
The EPIC Framework is most useful when a company is trying to build
________________. - CORRECT ANSWER-an initial assessment of a countries
operating environment
What events can result in a supply chain disruption? - CORRECT ANSWER-all of the
above
Which of the following was NOT discussed as examples of disruption impacts? -
CORRECT ANSWER-Management stress and turnover
A strike has just occurred at a key supplier. Which phase is the firm most likely dealing
with? - CORRECT ANSWER-Pre-Due date phase
When determining the potential for the likelihood of a particular event, a manager may
rely on - CORRECT ANSWER-historical information relative to past frequencies and
subjective assessments based on knowledge.
What would be the best approach to use if a manager wants to assess risk across key
locations across the globe? - CORRECT ANSWER-Spatial risk assessment
ABC Company anticipates a pending event and is able to re-route product flow to avoid
being disrupted. ABC Company supply chain exhibits - CORRECT ANSWER-continuity
Littlejohn Company sources a critical component from a supplier in China and a supplier
in Mexico. What type of continuity/resiliency capability does this best represent? -
CORRECT ANSWER-Mitigation capabilities
Flaxmaster Company has a supplier that experiencing financial instability, but is not
approaching bankruptcy. Through its actions, how can Flaxmaster affect the risk it is
facing relative to its supplier? *** - CORRECT ANSWER-It can decrease the probability
of disruption
It can decrease the impact of disruption
both
Supply chain disruptions can be: - CORRECT ANSWER-All of the above
A strike has just occurred at a seaport. What phase of disruption are we most likely in at
this point in time? - CORRECT ANSWER-Pre-due date phase
Answers
Why might a company consider expanding its supply chain internationally? - CORRECT
ANSWER-All of the above
What is the biggest cause of difficulties in working with another culture? - CORRECT
ANSWER-Different ways of making decisions and approaching business
Which supply chain strategy is most popular with companies today? - CORRECT
ANSWER-Regional strategy that groups countries into clusters
What is the most common way that countries agree to increase trade? - CORRECT
ANSWER-Through negotiating bilateral or multilateral FTAs
When was the World Trade Organization founded? - CORRECT ANSWER-1995
The legal system used in the United States is based on: - CORRECT ANSWER-
common law.
Supply chain management has a widely accepted definition that does not vary
substantially between countries. - CORRECT ANSWER-false
Which framework is most useful for companies wanting to build an initial assessment of
the general operating environment in a country? - CORRECT ANSWER-EPIC
What type of company will likely work with international supply chains? - CORRECT
ANSWER-all of the above
Labor laws in the United States are generally seen to be more-friendly to the
international worker than those in most other countries. - CORRECT ANSWER-false
When entering a new international market, the following question(s) should be asked to
understand cultural differences: - CORRECT ANSWER-all of the above
The _______ was created as an international agency to oversee the new exchange rate
system and to help bridge difficulties and financial crises in individual member
companies. - CORRECT ANSWER-IMF
Two-thirds of the world's countries including France and Germany use what type of law
as the basis for their legal system? - CORRECT ANSWER-Civil Law
, Products that are sold outside of normal distribution channels are referred to as
"____________". - CORRECT ANSWER-White Markets
Black Markets
Gray Markets
Blue Markets
The EPIC Framework is most useful when a company is trying to build
________________. - CORRECT ANSWER-an initial assessment of a countries
operating environment
What events can result in a supply chain disruption? - CORRECT ANSWER-all of the
above
Which of the following was NOT discussed as examples of disruption impacts? -
CORRECT ANSWER-Management stress and turnover
A strike has just occurred at a key supplier. Which phase is the firm most likely dealing
with? - CORRECT ANSWER-Pre-Due date phase
When determining the potential for the likelihood of a particular event, a manager may
rely on - CORRECT ANSWER-historical information relative to past frequencies and
subjective assessments based on knowledge.
What would be the best approach to use if a manager wants to assess risk across key
locations across the globe? - CORRECT ANSWER-Spatial risk assessment
ABC Company anticipates a pending event and is able to re-route product flow to avoid
being disrupted. ABC Company supply chain exhibits - CORRECT ANSWER-continuity
Littlejohn Company sources a critical component from a supplier in China and a supplier
in Mexico. What type of continuity/resiliency capability does this best represent? -
CORRECT ANSWER-Mitigation capabilities
Flaxmaster Company has a supplier that experiencing financial instability, but is not
approaching bankruptcy. Through its actions, how can Flaxmaster affect the risk it is
facing relative to its supplier? *** - CORRECT ANSWER-It can decrease the probability
of disruption
It can decrease the impact of disruption
both
Supply chain disruptions can be: - CORRECT ANSWER-All of the above
A strike has just occurred at a seaport. What phase of disruption are we most likely in at
this point in time? - CORRECT ANSWER-Pre-due date phase
