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, 1of 34
Term
An organization that relies heavily on its supply chain has identified risks
related to the global economy and exchange rate fluctuations. Which risks
have been identified by the organization?
Financial
Legal
Personnel
Project planning
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Product
Correct! Product innovation is when a change is made to the product that adds
direct value to the customer.
Financial
Correct! Financial loss is a risk related to the global economy and exchange
rate fluctuations.
Prototype
Correct! The prototype stage occurs when a company develops a prototype or
sample of the product designed to meet the needs of target customers. In this
case, the company has proposed a new product concept and shared it formatively
with customers and has received feedback to use in improving the product's
design. This indicates that the company should use that feedback to develop an
updated
prototype, test that with customers, and continue this process until a minimally
viable product is designed to sell to the market.
, Financial
Correct! Financial loss is a risk related to factors including resource allocation,
changes in interest rates, corporate taxes and investments, and currency
fluctuations that affect international business transactions.
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2 of 34
Term
A company is evaluating its resource allocation, changes in interest rates,
corporate taxes and investments, and currency fluctuations
that affect international business transactions. Which risks have been identified
by the organization?
Branding
Operational
Financial
Personnel
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Financial
Correct! Financial loss is a risk related to factors including resource allocation,
changes in interest rates, corporate taxes and investments, and currency
fluctuations that affect international business transactions.
Reputational
Correct! Reputational risks are associated with the market's perception of the
, company that can result in negative publicity, which can include the market's
preference for more environmentally friendly materials.
Test
Correct! The test stage is used to test new products before spending a large
amount of money and time on the final product. Charlie is testing the product
concept to ensure that the product aligns with customers' needs and wants.
Cost-benefit
Correct! Cost-benefit analysis is used to evaluate a business's ROI for a specific
decision related to strategic and competitive factors. This manager needs to
select the project that provides the greatest ROI.
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3 of 34
Term
Charlie is concerned that the company may lose its overall direction now that
there are so many new offices and personnel. To address this concern,
Charlie would like to create a plan that integrates all
the functions and activities of the entire company into one clear
whole. Which approach should Charlie use to address this concern?
Six sigma process
Supply chain processes
Strategic management
Human resource management
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