Fundamentals Exam

Question 1

sourcing

Answer 1

exercise which goes beyond economic considerations and takes into account environmental, social, and ethical factors as well

Question 2

global sourcing

Answer 2

sourcing from the global market for goods and services across geopolitical boundaries

Question 3

out sourcing

Answer 3

the process of contracting a business function to someone else

Question 4

manufacturing

Answer 4

make (something) on a large scale using machinery

Question 5

Cut Make Trim (CMT)

Answer 5

cutting fabrics, making garment, providing trims

Question 6

infrastructure

Answer 6

the basic framework of a building or a system

Question 7

trim

Answer 7

left over fabric

Question 8

findings

Answer 8

additional components to apparel (zippers, buttons…)

Question 9

preproduction

Answer 9

all product development activities preformed before the garment is approved for production

Question 10

full package factories

Answer 10

source, finance all materials and deliver finished goods in additions to assembling apparel to specs

Question 11

package factories

Answer 11

do not offer product development services (moral service factories)

Question 12

licensing

Answer 12

extending the value of a brand without having to develop and produce a new product

Question 13

omnichannel

Answer 13

a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience

Question 13

omnichannel

Answer 13

a multichannel approach to sales that seeks to provide the customer with a seamless shopping experience

Question 14

supply chain

Answer 14

sequence of business processes in multiple countries using multiple firms to fulfill demand for products and services

Question 15

imports

Answer 15

goods coming into the country to be sold

Question 16

exports

Answer 16

goods made in the country going out to be sold in another country

Question 17

trade balance

Answer 17

exports-imports (positive or negative)

Question 18

trade fairs

Answer 18

shows designed to get textile and apparel manufacturers and retailers together to facilitate efficient transfer of ownership of products and services

Question 19

fair trade

Answer 19

social movement whose state goal is to help producers in developing countries achieve better trading conditions and to promote sustainability; advocate for better social and environmental standards, and pay more to exporters

Question 20

biomimicry

Answer 20

the design and production of materials, structures, and systems that are modeled on biological entities and processes

Question 21

counterfeiting

Answer 21

act of making an imitation of an original with the intent of defraud

Question 22

sustainability

Answer 22

corporate, government, and consumer responsibility to integrate economic, political, environmental, and cultural dimensions to promote cooperation and solidarity among people and generations

Question 23

environmental sustainability

Answer 23

rates of renewable resource harvest, pollution creation, and non-renewable resource depletion that can be continued indefinitely

Question 24

knockoffs

Answer 24

a copy of imitation, especially of an expensive or designer product

Question 25

transparency

Answer 25

the presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders

Question 26

sustainable design

Answer 26

philosophy of designing physical objects, the built environment, and services, to comply with the principles of social, economic, and ecological sustainability

Question 27

slow fashion

Answer 27

the movement of designing, creating, and buying garments for quality and longevity

Question 28

fast fashion

Answer 28

the retail strategy of keeping fashion fresh, as if It were a perishable good

Question 29

copyright

Answer 29

legal right given to and originator or and assignee to print, publish, perform, film, or record literacy, artistic, or musical material, and to authorize others to do the same

Question 30

patent

Answer 30

a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention

Question 31

trademark

Answer 31

a symbol, word, or words legally registered or established by use as representing a company or product

Question 32

logo

Answer 32

a symbol or other design adopted by and organization to identify its products, uniform, vehicles

Question 33

closed loop supply chain

Answer 33

maximizes value creation by recovering value from product or material returns

Question 34

upcycling

Answer 34

reuse (discarded objects or material) in such a way as to create a product of a higher quality or value than the original

Question 35

marketing

Answer 35

companies create value for customers and build strong customer relationships in order to capture value from customers in return

Question 36

race to the bottom

Answer 36

who can make goods the fastest and cheapest

Question 37

gray market goods

Answer 37

not intended for sale in the country in which they are being sold

Question 38

bootleg goods

Answer 38

made by the same manufacturers that make the real one but who are selling some goods to the black market

Question 39

intellectual property

Answer 39

work or invention that is a result of creativity to which one has rights and for which one may apply for a patent, copyright, trademark

Question 40

entrepreneurship

Answer 40

process of designing, launching and running a new business, which is often initially a small business

Question 41

product development

Answer 41

marketing strategy that entails the creation of new products for present markets

Question 42

entrepreneurial thinking

Answer 42

mental process of overcoming ignorance to decided if something is an opportunity/reducing doubt that others opportunities are also for them; processing feedback from actions steps taken

Question 43

small business

Answer 43

independently owned and operated for profit and is not dominant in its field

Question 44

large business

Answer 44

runs by a corporate company

Question 45

innovation

Answer 45

improvement of an existing technological product, system, or method of doing something

Question 46

fashion bloggers

Answer 46

present records of images of street style described by time and specific location; a snapshot image of innovating and early fashion adopting residents of a city

Question 47

body scanning

Answer 47

technology that helps manufacturers, retailers and customers gets a better fit (clo-3d)