BISM1201

Question 1

What are porters 5 forces

Answer 1

Current competitors, barriers to entry, substitute products, customers and suppliers.

Question 2

What are primary and secondary value chain activities?

Answer 2

Primary - most directly linked to production

Secondary - support and add value

Question 3

What are synergies

Answer 3

When the output of one process feeds into another process

Question 4

Define core compenticies

Answer 4

An activity for which a business is best-in-class for.

Question 5

What are domestic exporters?

Answer 5

Companies which produce in one country of origin with domestic materials.

Question 6

What are multinational companies?

Answer 6

Companies controlled by one hub while decentralising.

Question 7

What are franchisers

Answer 7

Products are created, sold and operated in home country but the business is sold from another country.

Question 8

What are transnational companies?

Answer 8

All stages of the value add process are in other countries.

Question 9

How do information systems improve quality

Answer 9

• Reduce cycle time
• Benchmarks
• Collects customer demand and info
• Improves precision (CAD / 3-D Printing)