Table of Contents
- 1 When a company has complete control over an industry it has created a?
- 2 Which sourcing strategy is particularly common when the products being sourced are commodities ____?
- 3 When a business has complete control over all stages of the production and distribution process?
- 4 What is it called when a company buys all parts of the industrial process?
- 5 When a company buys out one or more of its suppliers this is known as a?
- 6 What are examples of joint ventures?
When a company has complete control over an industry it has created a?
US History(Honors) CH 6-Vocab-A New Industrial Age
| Definition | Person/Term/Concept |
|---|---|
| a market in which one company has complete control over an industry’s production, quality, wages paid, and prices charged | Monopoly |
Which sourcing strategy is particularly common when the products being sourced are commodities ____?
Many Suppliers sourcing strategy is particularly common when the products being sourced are commodities.
Which of these occur when two or more companies from different countries enter into an agreement to conduct joint business activities?
A joint venture is an arrangement in which two or more companies or parties join forces to engage in a specific business activity. The most common reasons for businesses to decide to enter into a joint venture include gaining access to new markets, increasing market power, and sharing resources.
What is a backward integration quizlet?
Backward Integration- takes information entered into given system and sends it automatically to all upstream system and processes.
When a business has complete control over all stages of the production and distribution process?
Vertical integration refers to the process of acquiring business operations within the same production vertical. A company that opts for vertical integration takes complete control over one or more stages in the production or distribution of a product.
What is it called when a company buys all parts of the industrial process?
A monopoly can be achieved through vertical integration, horizontal integration, or the formation of trusts or holding companies. Vertical integration occurs when a company owns all parts of the industrial process. Horizontal integration occurs when a company grows by buying its competitors.
What are the 4 stages of supplier selection?
Four Basic Stages of Supplier Selection
- Supplier Selection Criteria.
- First Stage: Evaluating Offers.
- Second Stage: Operational Capacity Analysis.
- Third Stage: Technical Capability Determination.
- Fourth Stage: Financial Analysis.
- Conclusion.
What is logistics and supply chain management?
The basic difference between Logistics and Supply Chain Management is that Logistics management is the process of integration and maintenance (flow and storage) of goods in an organization whereas Supply Chain Management is the coordination and management (movement) of supply chains of an organization.
When a company buys out one or more of its suppliers this is known as a?
An acquisition occurs when one company buys most or all of another company’s shares.
What are examples of joint ventures?
6 famous joint venture examples
- Molson Coors and SABMiller.
- BMW and Brilliance Auto Group.
- Microsoft and General Electric.
- The Walt Disney Company, News Corporation, Comcast’s NBC Universal and Providence Equity Partners.
- Verily and GlaxoSmithKline.
- Boeing and Lockheed Martin.
What is the difference between backward and forward integration?
In short, backward integration involves buying part of the supply chain that occurs prior to the company’s manufacturing process, while forward integration involves buying part of the process that occurs after the company’s manufacturing process.
What is the difference between forward and backward integration quizlet?
Forward integration- sends information entered into a given system automatically to all downstream systems and processes. Backward integration- sends information entered into a given system automatically to all upstream systems or processes.