HFT 4224 FSU Exam 3 UPDATED ACTUAL
Exam Questions and CORRECT Answers
Bussinesses create less value relying more on suppliers than before - CORRECT
ANSWER - true
Do vertically integrated companies use suppliers? - CORRECT ANSWER - NO. do it
themselves, raw materials, processing, manufacturing, sales and service
An example of an innovative supplier - CORRECT ANSWER - Dock to Dish Video
How is dock to dish an innovative supplier? - CORRECT ANSWER - -adds value bc of
their freshness
-have more leg work, sourcing of fish, processing and sales
What is the 4th ethical principle? - CORRECT ANSWER - The golden rule: treat people
how you want to be treated, has to do with the law of reciprocity
-we rely on other people (suppliers) on life
-most humanistic way of how to interact with people
is philanthropy theft from investors? - CORRECT ANSWER - could increase revenue
because people want to support company (strengthen brand)
Who is Danny Meyer? - CORRECT ANSWER - started shake shack, used the union
square hospitality group and his celeb status to help put an end to hunger in NYC
-has the idea that a restaurant is a black box that you go in feeling one way and you should feel
diff when you leave, likes to deliver positive outcome for community
What did Issadore Sharp do with Four Seasons to help their image and brand? - CORRECT
ANSWER - used the hotel chain as a platform to raise money for cancer patients, a man
, who lost a leg bc of cancer wanted to run coast to coast and Four Seasons allowed him and his
crew to stay for free and fund raise the cause
how is four seasons different from a large company like walmart? - CORRECT
ANSWER - they are able to connect with the community instead of just taking away jobs
from smaller businesses
whats an example of corporations giving entities? - CORRECT ANSWER - whole foods
offering school lunch programs for better and healthier food
what is the rum hope article about? - CORRECT ANSWER - Thierry Gardere, the
president of Rhum Barbancourt which is a renowned rum distillery on the outskirts of Port-au-
Prince, Haiti and how self-sufficient they are bc they have almost no resources
What are some things that Rhum Barbancourt does that is diff from other companies? -
CORRECT ANSWER - -loyal to community in giving jobs, wont sell to other bigger
companies
- pays well and provides benefits/scholarships
-has great employee retention and does most things by hand to keep more employees and bc
electricity is not always available
** this creates value to stakeholders and employees
What did the Tata Group do after a terrorist attack at one of their hotels? - CORRECT
ANSWER - -employees linked together to protect guest from gunshot
-created scholarship funds so that everyone involved was taken care of
-even the street cars that got hit were taken care of by this company
-great example of them helping the community
how has whole foods taken up global and national challenges? - CORRECT ANSWER --
improve school lunches
-features suppliers who give: suppliers alliance
Exam Questions and CORRECT Answers
Bussinesses create less value relying more on suppliers than before - CORRECT
ANSWER - true
Do vertically integrated companies use suppliers? - CORRECT ANSWER - NO. do it
themselves, raw materials, processing, manufacturing, sales and service
An example of an innovative supplier - CORRECT ANSWER - Dock to Dish Video
How is dock to dish an innovative supplier? - CORRECT ANSWER - -adds value bc of
their freshness
-have more leg work, sourcing of fish, processing and sales
What is the 4th ethical principle? - CORRECT ANSWER - The golden rule: treat people
how you want to be treated, has to do with the law of reciprocity
-we rely on other people (suppliers) on life
-most humanistic way of how to interact with people
is philanthropy theft from investors? - CORRECT ANSWER - could increase revenue
because people want to support company (strengthen brand)
Who is Danny Meyer? - CORRECT ANSWER - started shake shack, used the union
square hospitality group and his celeb status to help put an end to hunger in NYC
-has the idea that a restaurant is a black box that you go in feeling one way and you should feel
diff when you leave, likes to deliver positive outcome for community
What did Issadore Sharp do with Four Seasons to help their image and brand? - CORRECT
ANSWER - used the hotel chain as a platform to raise money for cancer patients, a man
, who lost a leg bc of cancer wanted to run coast to coast and Four Seasons allowed him and his
crew to stay for free and fund raise the cause
how is four seasons different from a large company like walmart? - CORRECT
ANSWER - they are able to connect with the community instead of just taking away jobs
from smaller businesses
whats an example of corporations giving entities? - CORRECT ANSWER - whole foods
offering school lunch programs for better and healthier food
what is the rum hope article about? - CORRECT ANSWER - Thierry Gardere, the
president of Rhum Barbancourt which is a renowned rum distillery on the outskirts of Port-au-
Prince, Haiti and how self-sufficient they are bc they have almost no resources
What are some things that Rhum Barbancourt does that is diff from other companies? -
CORRECT ANSWER - -loyal to community in giving jobs, wont sell to other bigger
companies
- pays well and provides benefits/scholarships
-has great employee retention and does most things by hand to keep more employees and bc
electricity is not always available
** this creates value to stakeholders and employees
What did the Tata Group do after a terrorist attack at one of their hotels? - CORRECT
ANSWER - -employees linked together to protect guest from gunshot
-created scholarship funds so that everyone involved was taken care of
-even the street cars that got hit were taken care of by this company
-great example of them helping the community
how has whole foods taken up global and national challenges? - CORRECT ANSWER --
improve school lunches
-features suppliers who give: suppliers alliance
