3.9 how to pursue strategies

Question 1

off shoring

Answer 1

moving facility abroad
people aren’t happy, can’t solve problems abroad

Question 2

reshoring

Answer 2

bringing facilities back from abroad
bring them back as the customer service, or standard of product falls

Question 3

innovation and finance

Answer 3

finance - require LT investment, no direct payback, long payback period

Question 4

innovation and people

Answer 4

teamwork, they can work together and share ideas, different fields for research and more time to work on projects

Question 5

innovation and production

Answer 5

more efficient, people thinking of the new ideas to make their job more efficient, design and building of new equipment or machines

Question 6

innovation and marketing

Answer 6

successful product development keeps them ahead of competition
ahead on pricing
good distribution

Question 7

factors effecting offshoring

Answer 7

less laws
technological development, internet ect.
political and social factors- corruption, corporation tax
infrastructure

Question 8

MNCs

Answer 8

multi national companies

Question 9

big data

Answer 9

analysing large data sets, identifying trends and patterns

Question 10

data mining

Answer 10

analysing data and summarising it into useful information

Question 11

flexible working options

Answer 11

part time
seasonal
zero hour
career breaks