XYZ Company Wants to Be Prepared for the ASEAN Free

question 223

Multiple Choice

XYZ Company wants to be prepared for the ASEAN free trade area.The company plans to develop its own production and marketing facilities in one or more ASEAN countries.The best choice for XYZ Company is

• A) a joint venture.
• B) a licensing agreement.
• C) totally owned facilities.
• D) exporting.
• E) sales offices.

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Definitions:

Mass Production

The manufacturing of large quantities of standardized products, often on assembly lines, enabling economies of scale.

Operations Management

This sector of management deals with formulating and managing the processes involved in producing and innovating business operations for the production of goods or services.

Just-In-Time Performance

is an inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Low Bid Purchasing

A procurement strategy where contracts are awarded to the supplier offering the lowest price for goods or services, often utilized in public sector procurement.