What Are Make-Or-Buy Decisions? What Are the Advantages of Make

question 33

Essay

What are Make-or-Buy Decisions? What are the advantages of make versus buy and visa-versa? Are these decisions harder for international opposed to strictly domestic firms? Explain your answer.
A make-or-buy decision pertains to whether a business should make or buy the component parts that go into its final product.In other words, should a firm vertically integrate to manufacture its own component parts or should it purchase the parts from outside suppliers? For many firms, the make-or-buy decision is a difficult one, because there are good arguments to support either position.

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Definitions:

Adventure Learning

A teamwork and leadership training program based on the use of challenging, structured outdoor activities.

Experiential Training

A learning process through direct experience, often involving hands-on practice or engagement in real-world activities.

Structured Outdoor Activities

Activities organized outside that are planned and structured to achieve specific goals, often used in team-building or educational settings.

Action Learning

A method where individuals learn by actively engaging in real-world challenges and reflecting on their experiences.