BUAD 331 FINAL EXAM STUDY GUIDE 2026
DETAILED ANSWERS READY
◉ What is the biggest cause of difficulties in working with another
culture?
1) Language differences
2) Different ways of making decisions and approaching business
3) Physical distance to the market
4) Not showing up to meetings on time.
Answer: Different ways of making decision and approaching
business
◉ Which supply chain strategy is most popular with companies
today?
1) Purely global manufacturing with very few global production
locations
2) Purely local manufacturing with production in every market
3) Regional strategy that groups countries into clusters
4) High-tech strategy that uses software to overcome the problems.
Answer: regional strategy that groups countries into clusters
,◉ What is the most common way that countries agree to increase
trade?
1) Through unilateral removal of tariffs on imports
2) Through the GATT treaty agreement
3) Through WTO negotiations
4) Through negotiating bilateral or multilateral FTAs.
Answer: Through negotiating bilateral or multilateral FTAs
◉ When was the World Trade Organization founded?
1785
1895
1905
1995.
Answer: 1995
◉ The legal system used in the United States is based on:
Napoleonic law
common law
,civil law
code law.
Answer: common law
◉ Supply chain management has a widely accepted definition that
does not vary substantially between countries.
True
False.
Answer: false
◉ Which framework is most useful for companies wanting to build
an initial assessment of the general operating environment in a
country?
EPIC
CAGE
SWOT
FARM.
Answer: EPIC
◉ What events can result in a supply chain disruption?
, Natural disasters like floods
Supplier bankruptcy
Plant fire at a supplier
All of the above.
Answer: all of the above
◉ Which of the following was NOT discussed as examples of
disruption impacts?
Shortage of critical inputs
Delays in product completion
Management stress and turnover
Loss in shareholder value.
Answer: management stress and turnover
◉ A strike has just occurred at a key supplier. Which phase is the
firm most likely dealing with?
Pre-disruption phase
Receipt phase
Domino phase
DETAILED ANSWERS READY
◉ What is the biggest cause of difficulties in working with another
culture?
1) Language differences
2) Different ways of making decisions and approaching business
3) Physical distance to the market
4) Not showing up to meetings on time.
Answer: Different ways of making decision and approaching
business
◉ Which supply chain strategy is most popular with companies
today?
1) Purely global manufacturing with very few global production
locations
2) Purely local manufacturing with production in every market
3) Regional strategy that groups countries into clusters
4) High-tech strategy that uses software to overcome the problems.
Answer: regional strategy that groups countries into clusters
,◉ What is the most common way that countries agree to increase
trade?
1) Through unilateral removal of tariffs on imports
2) Through the GATT treaty agreement
3) Through WTO negotiations
4) Through negotiating bilateral or multilateral FTAs.
Answer: Through negotiating bilateral or multilateral FTAs
◉ When was the World Trade Organization founded?
1785
1895
1905
1995.
Answer: 1995
◉ The legal system used in the United States is based on:
Napoleonic law
common law
,civil law
code law.
Answer: common law
◉ Supply chain management has a widely accepted definition that
does not vary substantially between countries.
True
False.
Answer: false
◉ Which framework is most useful for companies wanting to build
an initial assessment of the general operating environment in a
country?
EPIC
CAGE
SWOT
FARM.
Answer: EPIC
◉ What events can result in a supply chain disruption?
, Natural disasters like floods
Supplier bankruptcy
Plant fire at a supplier
All of the above.
Answer: all of the above
◉ Which of the following was NOT discussed as examples of
disruption impacts?
Shortage of critical inputs
Delays in product completion
Management stress and turnover
Loss in shareholder value.
Answer: management stress and turnover
◉ A strike has just occurred at a key supplier. Which phase is the
firm most likely dealing with?
Pre-disruption phase
Receipt phase
Domino phase
