Exam Review: Strategy, Global/Sustainability, and Risk

These flashcards cover key terms and concepts related to strategy, sustainability, and risk management as outlined in the lecture notes.

What is Cost?

This competitive priority relates to having efficient, integrated operation.

What is Quality?

Investing in and utilizing RFID tag technology typically fits with which competitive priority.

What is Operations strategy?

This strategy primarily focuses on how goods and services will be produced.

What is Retailers and Distributors?

In defining a distribution strategy, a company must consider the importance of channel intermediaries.

What is Financial Balanced Scorecard?

This metric focuses on the organization’s financial performance and the use of financial resources.

What is Social Sustainability?

This type of sustainability considers human well-being & social equity.

What is Positive Community Relations?

Organizations invest in this area to build goodwill and resilience to avoid reputational damage.

What is Reasonable Care Ethic?

A model of satisfy moral obligations that protects against foreseeable risks.

What is Sustainability Performance?

The aspect of the Supply Chain Sustainability Model that reflects all positive and negative impacts on stakeholders.

What is Cost-of-control?

When monetizing the environmental and social impacts of a supply chain, it relates to the costs of avoiding damages before they occur.

What is Risk?

Refers to the potential for an unforeseen event or circumstance to negatively impact an organization’s objectives or operations.

What is Probability–Impact (P–I) risk matrix?

This widely used risk heat map ranks disruptions by scoring likelihood × impact.

What is Black Swan?

An unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.

What is Risk Elimination?

Involves taking steps to completely remove the risk and is the most definitive approach.

What are Supplier Infrastructure Risks?

When a firm relies on few suppliers and faces supply shortages and irregular schedules.