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REVIEW QUESTION

7 December, 2015 - 10:27

(1) Define the term "production strategy."
(2) Industrialization has been heralded as the solution to many developing countries' economic and social problems. What are some of the necessary conditions for industrialization? Why is it that some countries have not managed to industrialize even though they meet most of these requirements?
(3) What are some of the characteristics of the Third Industrial Revolution? Speculate on what the Fourth Industrial Revolution might entail.
(4) Two foreign investors have applied for a permit to set up a business in your hometown. Investor A intends to establish an office to sell insurance and other financial services. Investor B plans to take over a factory that has been experiencing financial troubles. Investor B hopes to lessen the local company's troubles by streamlining its procurement, production, and distribution systems. You have been asked to help the local city council choose between the two proposals. Develop a cost/benefit plan for each proposal and recommend one.
(5) The president of a local textile plant just delivered a speech to the community Rotary Club in which he complained about "the unfair and un-American responses by some American manufacturers to foreign competition" -that is, U.S. manufacturers' sourcing abroad for cheaper parts and components. Such practices, he asserted, take jobs away from American workers and give them to foreigners. Refute or defend this argument.
(6) Write a two-minute speech on global sourcing. What steps are involved in the search for an offshore sourcing partner? What criteria should a men's dress shirt manufacturer, for example, establish for assessing the suitability of potential partners?