The Japanese Practice of Employing a Network Form of Supplier

question 23

Multiple Choice

The Japanese practice of employing a network form of supplier management rather than using costly acquisitions that is common in the West is known as:

• A)​Keiretsu.
• B)​Guanxi.
• C) ​Chaebol.
• D) ​Blat.

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Definitions:

In-kind Transfer

In-kind transfers are non-cash distributions of goods or services from governments or organizations to individuals, aimed at assisting with basic needs such as food and housing.

Welfare Payments

Financial assistance provided by a government to individuals in need.

Food Stamps

A government-issued voucher used to purchase food by those in need, as part of social welfare programs.

Maximize Utility

The economic principle that individuals or firms seek to achieve the highest level of satisfaction or profit from their actions and choices.