BUAD 331 Final Exam UTK

BUAD 331 Final Exam UTK Why might a company consider expanding its supply chain internationally? -Correct Answer-To obtain access to lower-cost suppliers; To take advantage of a skilled labor base in another country; To support international expansion of sales; To fend off competition from an international competitor What is the biggest cause of difficulties in working with another culture? -Correct Answer-Different ways of making decisions and approaching business Which supply chain strategy is most popular with companies today? -Correct Answer-Regional strategy that groups countries into clusters What is the most common way that countries agree to increase trade? -Correct Answer-Through negotiating bilateral or multilateral FTAs When was the World Trade Organization founded? -Correct Answer-1995 The legal system used in the United States is based on: -Correct Answer-common law Supply chain management has a widely accepted definition that does not vary substantially between countries. -Correct Answer-False Which framework is most useful for companies wanting to build an initial assessment of the general operating environment in a country? -Correct Answer-EPIC What events can result in a supply chain disruption? -Correct Answer-Natural disasters like floods Supplier bankruptcy Plant fire at a supplier