Chapter 5

Question 1

Skills of a Global Manager

Answer 1

Business knowledge ; emotional stability ; flexibility ; good communication skills , diplomatic skills

Question 2

Strategic Objectives of Production , and Supply Chain Management

Answer 2

ensure that the total cost of
moving from raw materials to finished goods is as low as possible

Question 3

Total quality management (TQM)

Answer 3

Refers to the management philosophy that takes as its central
focus the need to improve the quality of a company’s products and services

Question 4

Where to Produce globally

Answer 4

Country Factors ; Technological Factors; Production Factors; The Hidden Costs of Foreign Locations

Question 5

Global logistics

Answer 5

Global distribution center management ; Inventory management Packaging and
materials handling ; Transportation ; Reverse logistics

Question 6

Reverse Logistics

Answer 6

Process of planning, implementing, and controlling the efficient ,

Question 7

Just in Time Inventory

Answer 7

Speeds up inventory turnover ; Reduces inventory holding costs
Frees up working capital ; Boosts profitability

Question 8

Pseudo democracies

Answer 8

Lie between pure democracies and complete totalitarianism systems .

Question 9

Property rights

Answer 9

Legal rights over the use to which a resource is put and over the use made of any
income that may be derived from that resource.

Question 10

Intellectual property

Answer 10

Property that is the product of intellectual activity, such as computer software, a screenplay, a music score.