BUAD 331 Final Exam UTK Questions With Complete Solutions

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