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BUAD 331 Final Exam questions with correct answers graded A+
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BUAD 331 Final Exam questions with correct answers graded A+
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BUAD 331 Final ExamWhy 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 - correct answer ✔✔E. All of the above
What dimension of the country assessment framework involves the strength of supply chain support
businesses in the region?A.Competency
B.Economy
C.Politics
D.Infrastructure - correct answer ✔✔A.Competency
Supply chain solutions that work in one region can be repeated as long as you have the technology
systems to connect all supply chain partners.
A. True
B. False - correct answer ✔✔B. False
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 - correct answer ✔✔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 - correct answer ✔✔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 - correct answer ✔✔D. Through negotiating bilateral
or multilateral FTAs
When was the World Trade Organization founded?
A. 1785
B. 1895
C. 1905
D. 1995 - correct answer ✔✔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. - correct answer ✔✔B. common law.
Supply chain management has a widely accepted definition that does not vary substantially between
countries.
A. True
B. False - correct answer ✔✔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 - correct answer ✔✔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 - correct answer ✔✔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 - correct answer ✔✔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 - correct answer ✔✔E. 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.
A. GATT
B. WTO
, C. ITC
D. IMF - correct answer ✔✔D. IMF
Two-thirds of the world's countries including France and Germany use what type of law as the basis for
their legal system?
A. Civil Law
B. Common Law
C. Trade Law
D. International Law - correct answer ✔✔A. Civil Law
Products that are sold outside of normal distribution channels are referred to as "____________".
A. White Markets
B. Black Markets
C. Gray Markets
D. Blue Markets - correct answer ✔✔C. Gray Markets
The EPIC Framework is most useful when a company is trying to build ________________.
A. a new warehouse
B. an initial assessment of a countries operating environment
C. new insights into the US labor market
D. a detailed assessment of a specific foreign market - correct answer ✔✔B. an initial assessment of a
countries operating environment
Which term refers to products that are sold outside of an official distribution channel, often causing
problems for the original manufacturer?
A. Green Market
B. Black Market
C. White Market
D. Gray Market - correct answer ✔✔D. Gray Market
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