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globalization
Unit 5& 6
| Question | Answer |
|---|---|
| push model | Theory in supply chain management that focuses decisions on the needs of the product |
| pull model | Theory in supply chain management that bases decisions and activities on the needs of the customer |
| Multinational production | Manufacturing process that spans multiple countries outside a firm's country of origin, usually in a coordinated multistage system |
| Supply Chain Management | Reduced inventory |
| Supply Chain Management | Improvement in the order accuracy: |
| Just in Time by Toyota | production system developed by Toyota that focuses on reducing waste and improving efficiency by only producing and delivering products when they are needed |
| Which model of supply chain management focuses on the product and its production? | Push |
| An aircraft manufacturer uses a supply chain management system in which parts of the aircraft are made in different countries and assembled at the company's headquarters. Which type of supply chain is the company using? | Multinational |
| value-to-weight ratio | how valuable a product is relative to how heavy it is |
| Factors in Relocation | Growth, Government incentives, Costs, Innovation |
| Risks Associated with Outsourcing | loss of control, loss of innovation, loss of organizational trust, and higher than expected transaction costs. |
| Which company relationship is negatively affected if the company uses outsourcing to reduce costs? | Employee |
| indirect channel , | An indirect path between producer and consumer with intermediaries |
| indirect channel | Intermediaries can use their expertise to speed up the process. |
| Direct channel | You maintain control of the product, marketing, and costs. Shorter channel means the product reaches the consumer faster. |
| Generally Accepted Accounting Principles (GAAP) | a standardized set of rules U.S. companies must follow when reporting financial information. Goal: Consistency, transparency, and comparability across companies. |
| International Accounting Standards Board (IASB) | An independent group that oversees the development and revision of the IFRS |
| International Financial Reporting Standards | A collection of accounting principles used through much of the world outside the United States. |
| Financial Accounting Standards Board | An independent group that oversees the development and revision of the GAAP |
| What is the purpose of the IASB? | Enforcing compliance to GAAP |
| Political risk | |
| Macro risk | A type of political risk in which political factors impact the overall stability of a country and can impact any industry regardless of industry type. |
| hedging | Using financial instruments to reduce adverse price movements |
| derivatives | Special types of financial instruments, the prices of which are ultimately derived from the price or performance of some underlying assets. |
| Which currency contract establishes a specific rate at the beginning of the contract for delivery at a future date? | Forward |
| Which currency contracts are two-way agreements to trade currency on different dates? | Swap |
| Which currency contract requires a specific exchange rate and quantity of money on a subsequent date? | Future |
| Which currency contract allows for a trade of specific amount of money and exchange rate on a defined date to hedge risk in the global environment? | Options |
| Investors use a variety of financial tools, | called derivatives, to hedge or reduce their losses in currency exchange |
| fronting loan | loan made between a parent company and its subsidiary through a financial intermediary such as a bank |
| tax haven | country that has very advantageous (low) corporate income taxes |
| Which areas traditionally suffer from the digital divide? | Rural areas |
| Usability | concerned with the fact that technology remains so complicated that many people could not use a computer, |
| Empowerment | is concerned with how people use technology to empower themselves. Very few users genuinely understand the power that digital technologies can give them. |
| What is considered the most vital area needing information and communication technology (ICT) intervention? | Agriculture |
| Database management programs | Serve as electronic filing cabinets for records such as customer lists, employee data, and inventory information. They can sort data based on various criteria to create different reports. |
| Desktop publishing software | Combines word processing, graphics, and page layout software to create documents. It allows companies to design and produce sales brochures, catalogs, advertisements, and newsletters in-house |
| exascale Why are bots on customer-facing websites and apps valuable for global companies | Combines word processing, graphics, and page layout software to create documents. It allows companies to design and produce sales brochures, catalogs, advertisements, and newsletters in-house |
| Why are bots on customer-facing websites and apps valuable for global companies | They are accessible 24 hours per day. |
| management information systems | The methods and equipment that provide information about all aspects of a firm's operations |
| Enterprise Resource Planning | a type of software solution design to integrate all a company's data. ERP would integrate data from human resources |
| machine learning algorithms | Computer systems that automatically learn from experience instead of being explicitly programmed |
| Deep learning | A subset of machine learning in which computers learn unsupervised from data that are unstructured |
| blockchain and biometrics | provide an opportunity for customers to store their information such as credit card data in one block and maintain total ownership and control over it. |
| How does General Data Protection Regulation (GDPR) help protect people's personal data? | Users are required to opt in explicitly to grant permission for sensitive data. |
| Which regulation must the Lewis Foundation address when it expands its organization into the European Union? | General Data Protection |
| Currency futures contracts | Contracts that require the exchange of a specific amount of currency at a specific future date and at a specific exchange rate |
| Currency option contracts | The option or the right to exchange a specific amount of currency on a specific future date and at a specific agreed-on rate |
| Currency swap contracts | A contract where 2 firms agree to swap currencies in the future at a previously agreed exchange rate. |
| currency translation | The act of translating currencies on a financial statement to another currency. |
| preferential tariff | A tariff that is lower for some nations than others |
Created by:
ltay774
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