Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Business Development
Q:
If an olive oil importer sets up operations in Italy to be near its supplier, the company is going global by
a. capitalizing on the special features of location.
b. cutting costs.
c. expanding its market.
d. gaining access to resources.
Q:
________ is any deviation from the optimum process that delivers perfect product on time, every time.
Q:
Once an exporter has shipped a product internationally and the title has been transferred, the exporter receives what is called a
a. international invoice.
b. bill of lading.
c. letter of confirmation.
d. letter of credit.
Q:
The list of 5Ss, although it looks like a housekeeping directive, supports lean production by:
A) identifying non-value items and removing them, in the "sort/segregate" category.
B) reducing inventory, in the "standardize" category.
C) increasing variability through standardized procedures, in the "standardize" category.
D) eliminating wasted motion through ergonomic studies, in the "support" category.
E) building good safety practices, in the "shine/sweep" category.
Q:
From a company-owned plant in Pakistan, Howard manufactures specialty apparel items for his small business, Garments of Eden. Because of overseas operations of the U.S. military in the region, Howard fears that his plant may be sabotaged or that the local government may attempt to take over the facility. Specifically, his fears are about
a. economic risk.
b. exchange rate risk.
c. political risk.
d. Two of the above are described risks.
Q:
The 5Ss:
A) have the "flavor" of a housekeeping list.
B) are a checklist for lean operations.
C) have become a list of seven items in American practice.
D) can be used to assist with necessary changes in organizational culture.
E) All of these are true.
Q:
For some small businesses, a recent trend for going global is to
a. be closer to large clients.
b. extend a product life.
c. find raw materials.
d. reduce transportation costs.
Q:
Which of the following is NOT one of the Seven Wastes?
A) overproduction
B) transportation
C) assignment
D) defective product
E) motion
Q:
Mattel has allowed a producer in Thailand to manufacture and sell its branded dolls in overseas markets. The company in Thailand is a:
a. royalty receiver.
b. licensor.
c. licensee.
d. license initiator.
Q:
Which of the following is specifically characterized by the elimination of waste through a focus on exactly what the customer wants?
A) Just-in-time (JIT)
B) Toyota Production System (TPS)
C) Lean operations
D) Material requirements planning (MRP)
E) kanban
Q:
The unauthorized use of intellectual property is called
a. royalties.
b. international franchising.
c. foreign licensing.
d. counterfeit activity.
Q:
Manufacturing cycle time is best defined as the:
A) length of the work shift, expressed in minutes per day.
B) time it takes a unit to move from one workstation to the next.
C) time between the start of one unit and the start of the next unit.
D) sum of all the task times to make one unit of a product.
E) time from raw materials receipt to finished product exit.
Q:
Regional free trade areas have been formed in order to
a. duplicate government regulatory systems.
b. reduce tariffs to increase trade.
c. coordinate the currencies of included countries.
d. accommodate the demands of organized labor.
Q:
Which of the following statements regarding a pull system is TRUE?
A) Large lots are pulled from upstream stations.
B) Work is pulled to the downstream stations before it is actually needed.
C) Manufacturing cycle time is increased.
D) Problems become more obvious.
E) None of the above is true of a pull system.
Q:
A small company can deal with changing currency rates by
a. stating contracts in US dollars as opposed to the international currency.
b. locating all plants in countries with the most advantageous exchange position.
c. limiting sales in each country so as to reduce exposure to any one currency.
d. following the advice of the international sales manager.
Q:
Which of the following is specifically characterized by continuous and forced problem solving via a focus on throughput and reduced inventory?
A) Just-in-time (JIT)
B) Toyota Production System (TPS)
C) Lean operations
D) Material requirements planning (MRP)
E) kanban
Q:
Increasingly, small businesses are expanding internationally to
a. obtain raw materials.
b. gain access to skilled labor.
c. create job opportunities for domestic employees.
d. take advantage of government incentives.
Q:
Which of the following is specifically characterized by a focus on continuous improvement, respect for people, and standard work practices?
A) Just-in-time (JIT)
B) Toyota Production System (TPS)
C) Lean operations
D) Material requirements planning (MRP)
E) kanban
Q:
When Wayne opened his business many years ago, most businesses operated only within one country. But now thanks to __________, businesses increasingly take advantage of cross-border activities.
a. born-global businesses
b. globalization
c. economic freedom
d. economic liberty
Q:
Which of the following is NOT a source of variability?
A) Employees, machines, and suppliers produce units late.
B) Customer demand is unknown.
C) Employees, machines, and suppliers produce units that conform to standards.
D) Engineering drawings are inaccurate.
E) Drawings or specifications are incomplete.
Q:
A Canadian grocery store chain with its corporate headquarters in Quebec has approached Antonio, the owner of a company that produces pasta, about exporting its pasta into Canada. Which question would need to be answered in relation to the companys production capacity objectives?
a. How are the initial expenses of expanding to Canada going to be covered?
b. What international expertise does Antonio have, specifically does he speak French?
c. Why does Antonio want to export to Canada?
d. Will Canadian sales hurt USA sales?
Q:
Which of the following is generally found in most lean environments?
A) a push or pull system, depending upon the rate of demand
B) a push system for high margin items and a pull system for low margin items
C) a push system for purchased parts and a pull system for manufactured parts
D) push systems
E) pull systems
Q:
Some small firms choose to outsource internationally in order to
a. avoid domestic taxes.
b. avoid competition from other US companies.
c. cut costs and access talented foreign employees.
d. take advantage of legal loop-holes in foreign countries.
Q:
What does TPS stand for?
A) Total Production Streamlining
B) Toyota Production System
C) Taguchi's Production S's
D) Total Process Simplification
E) Transparent Processing System
Q:
What are question topics that should be considered before going global specifically related to management objectives, management experience and resources, production capacity and financial capacity?
Q:
When implemented as a comprehensive operations strategy, JIT, TPS, and lean systems sustain competitive advantage and result in increased overall returns.
Q:
Labor rates have risen over time to the point that Antonios Pasta is considering ____________ to reduce costs.
a. outsourcing.
b. offshoring.
c. exporting.
d. importing.
Q:
The 5Sssort/segregate, simplify/straighten, shine/sweep, standardize, and sustain/self disciplineare important to lean production because they act as a means to reduce waste.
Q:
A group of four Kentucky business owners all in business in the international equine industry fly to Ireland to meet potential buyers. Describe what this group would be hoping to accomplish from the trip.
Q:
Increasing inventory exposes variability in production processes.
Q:
Which country would be the least challenging in its ease of doing business according to the World Banks index?
a. Argentina
b. Egypt
c. Chile
d. Madagascar
Q:
Waste is anything that does not add value from the consumer's perspective.
Q:
What are the differences and similarities of exporting and importing?
Q:
A push system means providing the next station with exactly what is needed when it is needed.
Q:
In the past, companies have left the United States to
a. take advantage of unique features of the local market.
b. find raw materials.
c. change the shape of the product life cycle.
d. serve the local community through the business.
Q:
Variability in manufacturing can occur because engineering drawings or specifications are incomplete or inaccurate.
Q:
Describe six strategies that a small firm can use to go global.
Q:
Customer demand will always remain an unknown, so it is not considered a source of variability.
Q:
If Finagle-A-Bagel contracts with a baker in Hong Kong to manufacture and sell a product in overseas markets, Finagle-A-Bagel would be the
a. royalty receiver.
b. licensor.
c. licensee.
d. license initiator.
Q:
In a JIT system, product inspection adds value by identifying defective items.
Q:
Nicole is the CEO of a small business which is looking to expand globally. She wants to move her business to a European country and feels that is where the product will be most profitable. What are three challenges that Nicole needs to analyze for the area in which she is considering expanding her company?
Q:
Product storage is an example of waste in the sense that no value is added.
Q:
Edward is a young entrepreneur with grand plans, including international expansion of his new company. Once that decision is made, Edwards next step is to:
a. begin to hire employees with international experience.
b. join a trade mission.
c. plan a strategy that increases the potential of the firm.
d. spend some time estimating the market potential of various countries.
Q:
TPS stands for Total Production Streamlining.
Q:
Polly has formed an agreement with a French company to produce and sell her scarves in their ten stores across Europe. The scarves are Pollys original designs and are of different colors and fabrics. They will then pay Polly a fee for each scarf they produce. What are the advantages and disadvantages of the globalization strategy Polly will be utilizing?
Q:
TPS stands for Toyota Production System.
Q:
When it comes to cutting costs, many foreign companies have chosen to locate production facilities in Mexico to
a. obtain tariff reductions.
b. find raw materials.
c. follow large client firms that locate abroad.
d. find suppliers offering highly specialized products.
Q:
Sequencing (or dispatching):
A) assigns dates to specific jobs or operations steps.
B) assigns jobs to work centers.
C) specifies the order in which jobs should be done at each center.
D) assigns workers to jobs.
E) assigns workers to machines.
Q:
After identifying each of the four driving forces that encourage entrepreneurs to go global, discuss the change in traditional to emerging perspectives.
Q:
Five jobs are waiting to be processed. Their processing times and due dates are given below. Using the shortest processing time dispatching rule, in which order should the jobs be processed? Job
Processing Time (days)
Job due date (days) A
4
7 B
7
4 C
8
11 D
3
5 E
5
8 A) A, B, C, D, E
B) C, E, A, D, B
C) B, D, A, E, C
D) D, A, E, B, C
E) C, E, A, B, D
Q:
Melanies Marbles is a young company that buys unusual marbles from many places around the world. To provide assurance for her vendors that they will be paid, Melanies has established a ______________ at her bank.
a. international invoice.
b. bill of lading.
c. letter of confirmation.
d. letter of credit.
Q:
What options do small businesses have when dealing with political risks globally?
Q:
Which of the following dispatching rules ordinarily gives the best results when the criterion is lowest time for completion of the full sequence of jobs?
A) shortest processing time (SPT)
B) critical ratio (CR)
C) first in, first out (FIFO)
D) first come, first served (FCFS)
E) longest processing time (LPT)
Q:
An intermediary that works for foreign firms that are interested in buying U.S. products and is paid a commission for its services is called a(n) _____.
a. export agent.
b. export trading company.
c. piggyback marketer.
d. confirming house.
Q:
Orders are processed in the sequence in which they arrive if (the) ________ rule sequences the jobs.
A) earliest due date
B) slack time remaining
C) first come, first served
D) critical ratio
E) Johnson's
Q:
Dustin had contracts for web designs in Japan and France and therefore has decided to start a business. The company will be reaching an international market strictly through online operations. Based on this type of global business, what organizations could offer advice to make this business feasible?
Q:
Using LPT priority would result in what sequence for Jobs A, B, C, and D if their process times are 4, 6, 5, and 2 respectively?
A) ABCD
B) DCBA
C) DACB
D) DABC
E) BCAD
Q:
According to the 2013 BRIC Markets, which country has the highest GNI per capita?
a. Brazil
b. China
c. India
d. Russia
Q:
EDD stands for what?
A) earliest due date
B) earliest design date
C) earliest detrimental date
D) earliest decision date
E) economic date determination
Q:
Describe the role trade intermediaries play in assisting small businesses that choose to go global. Identify the types of trade intermediaries that are most useful to small businesses.
Q:
The jobs listed below need to be completed. Assume that it is now day 140. If the jobs are sequenced according to the shortest processing time rule, what is the average completion time? Job
Processing Time (days)
Job due date (days) A
20
180 B
30
200 C
10
175 D
16
230 E
18
210 A) 47.6 days
B) 60.2 days
C) 94.0 days
D) 2.5 days
E) 238.0 days
Q:
A company that operates a customer service call center is likely to contract with a company in India to
a. capitalize on the special features of location.
b. cut costs.
c. expand its market.
d. gain access to resources.
Q:
The jobs listed below need to be completed. Assume that it is now day 140. If the jobs are sequenced according to the longest processing time rule, what is the lateness of job A? Job
Processing Time (days)
Job due date (days) A
20
180 B
30
200 C
10
175 D
16
230 E
18
210 A) 0.0 days
B) 24.0 days
C) 7.4 days
D) 10.0 days
E) 11.6 days
Q:
The expansion of international business
Q:
Johnson's rule sequences a set of jobs through two different machines or work centers in the same order.
Q:
When the exchange rate for a currency rises relative to that of another country, the rising currency
a. has decreased in value relative to the other currency.
b. has increased in value relative to the other currency.
c. has been devalued by its government.
d. reflects increased political risk in its home country.
Q:
Dispatching rules are typically judged by four effectiveness criteria: average completion time, utilization, average number of jobs in the system, and average job lateness.
Q:
The critical ratio sequencing rule prioritizes the jobs based on the importance or value of the customers who have placed the orders.
Q:
Selling products produced in another country to buyers in the home country
Q:
Earliest due date is a shop floor dispatching (sequencing) rule that relates the time available to complete a job to the amount of work left to be completed.
Q:
Seeking to extend the product life cycle by expanding into international markets has become a less effective strategy because
a. customer preferences have become more similar around the world.
b. income levels in many countries are insufficient to support this strategy.
c. international delivery systems cannot handle the variety of company distribution systems.
d. product life cycles have already been growing over the years.
Q:
Machines A, B, C, and D have been in use for several years, while machine E is new. The following table provides data on the value of production of each job when performed on a specific machine.
(a) Determine the set of assignments that maximizes production value.
(b) What is the total production value of your assignments?
(c) Which machine should be retired (i.e., gets no assignment)? Machine Job
A
B
C
D
E 1
27
29
28
30
40 2
30
32
31
34
46 3
33
25
29
26
37 4
29
31
24
28
28
Q:
Selling products produced inthe home country to customers in another country
Q:
Lockport Marine Services, Inc. wishes to assign a set of jobs to a set of machines. The following table provides data on the cost of production of each job when performed on a specific machine.
(a) Determine the set of assignments that minimizes production cost.
(b) What is the total production cost of your assignments? Machine Job
A
B
C
D 1
27
29
28
30 2
30
29
27
26 3
31
25
29
26 4
29
31
25
28
Q:
Experience curve efficiencies refers to
a. expanding a business globally to decrease per unit costs.
b. having more experienced team members.
c. insights gained by employees that lead to improved work performance.
d. the outcomes of learning effects and economies of scale.
Q:
The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultantsCharlie, Gerald, Johnny, and Rickto complete any of the four projects, as follows: Project Hours Consultant
A
B
C
D Charlie
13
16
11
18 Gerald
13
15
10
12 Johnny
15
11
20
15 Rick
17
17
12
22 (a) What is the total number of hours required by the following arbitrary assignment?
Charlie→B; Gerald→A; Johnny→D; Rick→C
(b) What is the optimal assignment of consultants to projects? (Use the assignment method.)
(c) For the optimal schedule, what is the total number of hours it will take these consultants to complete these projects?
Q:
A strategy that involved relocating operations abroad
Q:
What is the difference between a Gantt load chart and a Gantt scheduling chart?
Q:
International markets are increasingly demanding
a. the same products that are distributed to other national markets.
b. differentiated products that satisfy their unique needs and interests.
c. direct access to products sold elsewhere in the world.
d. more expensive products and fewer inexpensive products.
Q:
Identify the major disadvantages of the Gantt load chart.