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35 Cards in this Set
- Front
- Back
4 main areas of the supply chain |
Manufacturing, Wholesaler, Distributer, Retailer |
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What is the main job of a wholesaler? example? |
buys in bulk from manufacturers for resale to retailers or other traders ex. Old Navy |
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What is "Warehousing" and why is it necessary? |
Storage & protection of raw materials AND finished goods in a dedicated building or room. |
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What was interesting about Amazons warehousing strategy? |
Everything was not put in a specific place, rather the computer did the work |
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Example of a company that would use a Manufacturer to Consumer strategy: |
Butcher |
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Example of a company that would use a Manufacturer to Wholesaler to Consumer strategy: |
Costco |
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Example of a company that would use a Manufacturer to Wholesaler to Retailer to Consumer strategy: |
Old Navy |
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Example of a company that would use a Manufacturer to Retailer to Consumer strategy: |
Bakery (Farmers Market) |
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Difference between Direct channel and indirect channel of distribution: |
a Direct channel does not use wholesalers or retailers while indirect channels do. |
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Difference between Consumer Markets and Organizational Markets: |
A consumer marker goes from producer to consumer while organizational markets go from business to business |
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What do trading companies do? |
represent specific products in world markets and work with established consumers to assist producers with selling to buyers |
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2 advantages of a company using global intermediaries: |
1) don't have to worry about shipment & logistics 2) less risk |
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2 disadvantages of a company using global intermediaries: |
1) Loss of full control 2) It's an expense |
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Custom Brokers specialize in what? |
In moving products through customs process |
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Freight Forwarders specialize in what? |
Help transfer a physical product to it's final destination by combining small shipments providing low price |
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TRUCK 2 advantages: 2 disadvantages: |
Advantages: 1) Flexibility 2) Speed Disadvantages: 1) More expensive than rail 2) not suitable for all types of cargo |
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RAIL 2 advantages: 2 disadvantages: |
Advantages: 1) Hauls bulk materials 2) Tends to perform better on long hauls Disadvantages: 1) Slower than trucks 2) Less flexible routes & schedules compared to trucks |
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SEA 2 advantages: 2 disadvantages: |
Advantages: 1) Cheapest 2) Fullservice (directly to customer) Disadvantages: 1) Slowest 2) Environmental risk |
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AIR 2 advantages: 2 disadvantages: |
Advantages: 1) Fastest 2) Reliable & Safe Disadvantages: 1) Restricted to smaller loads 2) Most expensive |
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Definition of Ethics: |
Principles of right and wrong by which people conduct themselves personally, socially and professionally |
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Who determines ethical standards: |
1) Government 2) Society 3) Authority |
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if a company has good ethical behaviour it will: |
-Establish trust -Foster positive public image |
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if a company performs unethically it will: |
-Lead to organizational dysfunction -create public outrage -create personal and moral dilemma |
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ethical issues international businesses should be aware of: |
Discrimination Unfair pay working conditions human rights issues environmental issues |
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3 questions to ask of you are wondering if a decision is ethical or not? |
1) is it LEGAL? 2) is it BALANCED? 3) is it RIGHT? |
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Rationalization: |
a technique used to justify poor and unethical decisions |
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What is a Whistleblower: |
A person who exposes the misdeeds of others |
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2 consequences of being a whistleblower: |
1) difficult to maintain relationships 2) Legal consequences |
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Corporate social responsibility: |
the duty to do what is best for the company |
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Three levels of Corporate Responsibility: |
1) Obligation 2) Responsiveness 3) Responsibility |
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What is a Code of Ethics: |
Statement exampling what a company or group believes is proper and improper which applies to individuals employees and the whole company |
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What is a Stakeholder: |
Various individuals or groups of people who have direct interest, involvement or investment in an organization |
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Not Business as Usual What is a B-Corporation? |
Benefit Corporation |
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Not Business as Usual According to Milton Friedman, to whom to businesses have a duty towards? what is the problem with his mindset? |
Only have a duty to their own share holders, he says they do not have a duty to society. |
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Not Business as Usual What is good for _________ is also good for _______ |
1) Society 2) Business |