BUAD 331 Exam 4 Test Prep Questions with Answers

Why might a company consider expanding its supply chain internationally? A) To obtain access to lower-cost suppliers B) To take advantage of a skilled labor base in another country C) To support international expansion of sales D) To fend off competition from an international competitor E) All of the above E) All of the above What is the biggest cause of difficulties in working with another culture? A) Language differences B) Different ways of making decisions and approaching business C) Physical distance to the market D) Not showing up to meetings on time B) Different ways of making decisions and approaching business Which supply chain strategy is most popular with companies today? A)Purely global manufacturing with very few global production locations B)Purely local manufacturing with production in every market C)Regional strategy that groups countries into clusters D)High-tech strategy that uses software to overcome the problems C)Regional strategy that groups countries into clusters What is the most common way that countries agree to increase trade? A) Through unilateral removal of tariffs on imports B) Through the GATT treaty agreement C) Through WTO negotiations D) Through negotiating bilateral or multilateral FTAs D) Through negotiating bilateral or multilateral FTAs When was the World Trade Organization founded? A) 1785 B) 1895 C) 1905 D) 1995 D) 1995 The legal system used in the United States is based on: A) Napoleonic law. B) common law. C) civil law. D) code law. B) common law. Supply chain management has a widely accepted definition that does not vary substantially between countries. A) True B) False B) False Which framework is most useful for companies wanting to build an initial assessment of the general operating environment in a country? A) EPIC B) CAGE C) SWOT D) FARM A) EPIC What type of company will likely work with international supply chains? A) Large multinational company B) Regional company C) Small business D) All of the above D) 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. A) TRUE B) FALSE B) FALSE When entering a new international market, the following question(s) should be asked to understand cultural differences: A) How are decisions made? B) How are relationships approached C) How is success measured? D) A & B E) All of the above E) All of the above