Midterm Study Guide - short answer questions

Midterm Study Guide - short answer questions - OPER 340...

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OPER 340 Short Answer Question Bank for Midterm Exam Note: The answers provided to the questions below provide a useful guideline. Student may feel free to add more material / content / examples to answer each of the questions below. Chapter 1 1) Briefly explain any five risks of globalization (10 Points) Answer : The list would include (describe each of the below points in a sentence or two, and with examples where appropriate). i. Cultural differences and language barriers ii. Infrastructure / Supply Chain / logistics / distribution network iii. Safety, security, and stability of a country iv. Quality problems (can mention organizations preferring ISO certification for suppliers globally as an order qualifier to do business) v. Loss of capabilities over time vi. Devaluation of the US$ (thereby leading to lesser cost advantage) vii. Loss of jobs domestically viii. Intellectual property right issues (can give examples of third world countries) 2) Briefly explain any three barriers to entry (3 points) with examples (3 points) (6 points) Answer : The list would include (describe each of the below points in a few sentences and with examples). i. Economies of scale (ex: Walmart) ii. Capital Investment (ex: setting-up a hospital vs. setting-up a day care) iii. Access to supply and distribution channels (ex: competing with ‘any’ (name such an org.) organization with established channels) iv. Learning curves (ex: heart transplant – 85%, shipbuilding – 80%, etc.) 3) List any four competitive priorities of an organization and explain some practices that organizations follow to achieve each of those with an illustrative example for
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Midterm Study Guide - short answer questions - OPER 340...

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