The Process of Purchasing Materials, Component Parts, or Business Services

question 20

Multiple Choice

The process of purchasing materials, component parts, or business services from different countries around the world is known as ___.

• A) exporting/importing
• B) licensing
• C) global sourcing
• D) direct investment
• E) joint venture

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Definitions:

Programmed Decisions

Decisions that are routine and repetitive, for which established rules or procedures can be developed and applied.

Structured Problems

Structured problems are well-defined, clear, and straightforward issues that can be solved through recognized procedures and methods.

Unstructured Problems

Involve situations that are complex and lack clear definition or a straightforward solution path, often requiring creative problem-solving techniques.

Uncertain Environment

An environment that lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives.