Discuss the Various Criteria That Must Be Considered,under the Systems

question 97

Essay

Discuss the various criteria that must be considered,under the systems viewpoint,to determine the choice of process to use in a manufacturing environment.

Differentiate between equity and nonequity modes of market entry.

Understand the potential advantages and disadvantages of exporting as an entry mode.

Recognize the role of cultural, administrative, geographic, and economic distances in international expansion.

Identify consumer biases towards local versus foreign products.

---

Definitions:

Capital Costs

Expenses incurred to create or acquire a fixed asset, such as buildings and equipment, that are not charged to expense in the period purchased but are depreciated over their useful life.

Asset Management Ratios

measures of how efficiently a company utilizes its assets to generate sales or revenue.

Inventory Efficiency

The optimization of inventory levels to ensure the right amount of stock is available to meet demand without overstocking, minimizing costs and maximizing profitability.

Controlling Process

The function in management that involves monitoring performance, comparing it with goals, and taking corrective action when necessary.