Supply Chains
Between a local bakery that sells bread directly to customers and an international sneaker brand that ships shoes worldwide, which has the shorter supply chain?
Local bakery
Nike is famous for the slogan “Just Do It.” What is McDonald’s slogan?
"I'm Lovin’ It!"
There are seven areas of marketing which all start with the letter "P." When a Starbucks cafe always has the same comfy chairs, music, and smell which “P” is this?
Physical Evidence
STEEPLE is a tool that analyzes the external environment of a business (things that the business does not control). What does the "T" in STEEPLE stand for?
Technology
A labor union is a group of workers that come together to demand things from management. What is one thing that a labor union might typically ask for?
Higher salary, more time off, better pensions, safer working conditions, etc.
When the product moves towards the customer, are we moving up or down the supply chain?
Down
A franchise business is when the business owner sells the right to open shops to individuals. What is a business known for using the franchise model?
McDonald's, 7/11, Family Mart, Dunkin' Donuts, KFC, Pizza Hut, Kumon, Hilton Hotels, Holiday Inn, etc.
There are seven areas of marketing which all start with the letter "P." When McDonald’s staff smile and greet you politely, which “P” is this?
People
When a company nationalizes it gets taken over by the government. When a company privatizes it moves from government control to private control. In 1987, did Japan Railways (JR) nationalize or privatize?
Privatize
A private sector company is a company that is not owned by the government. What is one of the two private sector companies in the world with the most employees?
What is the name of the place where raw materials are turned into finished products, like in the case of making toys?
A factory
STEEPLE is a tool that analyzes the external environment of a business (things that the business does not control). What does one of the "Es" stand for?
Ethics, Environment, Economy
There are seven areas of marketing which all start with the letter "P." When Amazon delivers products straight from the warehouse to your door which “P” is this?
Place
A multinational company is a company with operations in more than one country. List three Japanese multinational companies.
Toyota, Honda, Uniqlo, Nintendo, Asahi, Sony, Mitsubishi
In Business, "profit" is one of the important metrics for a business. The equation for profit is "revenue (R)-costs ©. In this equation, what is meant by revenue?
Money gained through the sale of goods or services.
What is one key differences between local and global supply chains?
Distance & Scope: Local = short distances, Global = long distances.
Costs: Local often has higher production costs but lower transport costs; Global may reduce production costs but increase shipping costs.
Risk: Local = less exposure to international disruptions, Global = more vulnerable to global risks (e.g., trade wars, pandemics).
Sustainability: Local = lower carbon footprint (shorter transport), Global = higher carbon footprint.
Flexibility: Local = quicker response to changes in demand, Global = slower due to shipping lead times.
The quaternary sector refers to the group of companies that are focused on information technology. Name any quaternary sector company.
Microsoft, Apple, Google, Facebook, etc.
There are seven areas of marketing which all start with the letter "P." When a business pays Messi to promote their sneakers which “P” is this?
Promotion
There are 135 Chinese multinational companies in top 500 global companies. Of these, roughly how many multinational companies does the Chinese government own? 25, 55, 85, 115?
85
A charity (or non-governmental organization) is a term for an organization that raises money for a social cause and donates the money to people or groups in need. What is one example of a charity or non-governmental organization?
Amnesty International, World Wildlife Fund, Greenpeace, Red Cross, Doctors Without Borders, Save the Children, etc.
Give two examples of a disruption in the supply chain.
Problems with transportation, for example shipping. natural disasters, supplier problems such as bankruptcy, cyber attacks, etc.
When a company privatizes it moves from government control to private control. What is one common advantage of privatization?
Reduce costs as government businesses often carry high costs. Benefit from private sector (non-government) knowledge and methods, etc.
A company may use one of a number of strategies when setting a price. When a company sells a new phone at a super low price at first to attract customers what is this called (hint, it has to do with breaking into a new market).
Penetration pricing
"Just in time" is a production method where a company receives supplies (materials) only when they need them to make goods (e.g. at the last minute). What Japanese company started "Just in time"?
Toyota
In business, businesses need to think about motivating their employees (inspiring them to work hard). There are several motivators that are considered. Name two of these OTHER THAN money (salary).
Promotion, title, meaningful work (purpose), new opportunities, freedom when doing work, relationships with co-workers, free housing, etc.