business management supply chain management m.com sem 4 question paper | Mcom Master Of Commerce Semester 4 Question Papers

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M.COM SEMESTER - IV (CBCS)

BUSINESS STUDIES (MANAGEMENT)

SUPPLY CHAIN MANAGEMENT LOGISTICS

business management supply chain management m.com sem 4 question pape

Q.8 Characteristics of Global Supply Chain.

ANS:

1. Borderless:

The evolution of the supply chain is no longer constrained by national boundaries in terms of sourcing, marketing, manufacturing, and delivery. The obvious material flows of the globalized supply chain are a very small part of this phenomenon without borders. In terms of intangible aspects of global development like brands, services, technical collaboration, and funding, it is as strongly manifested. Borders between countries are much less restrictive now than they always were. It might be argued that technological advancements, regional and bilateral trade agreements, and facilitation by international organizations like the WTO, WB, GATT, OECD, OPEC, and so on are to blame for this.

2. Cyber-connected:

The global business environment has evolved into an interconnected one market through primary and increasingly significant cyber links rather than a collection of numerous indigenous independent local marketplaces. Because of this, the interconnectedness of our global corporate environment is essentially "invisible," spontaneous, less under our control, and unquestionably irreversible. Without cyber technology, which makes it possible for huge volumes of data to be sent very fast and reliably, globally dispersed international supply chains would not be feasible or even understandable.

3. Deregulated:

Trade restrictions have been eliminated or at least greatly reduced globally. A level playing field on the international stage has been created, albeit imperfectly, through economic and free-trade zones around the world. The rules and regulations that impede the operation of market forces are made simpler and eliminated through deregulatory measures. More specifically, it has focused on promoting international trade and the expansion of the world economy. The European Union, the zone covered by the North American Free Trade Agreement, the Association of Southeast Asian Nations, and others are examples of typical deregulated zones. Deregulation moves society closer to a laissez-faire and free market economy by reducing the amount of government control over how business is conducted.

4. Environmental Concerns:

Concerns about the damaging effects of business and economic development on the environment have grown over the past ten years. The evolution of today's global supply chain is significantly influenced by the global drive for greener and more environmentally friendly corporate practices. Additionally, this is influenced by the decisions made by legislators and regulatory bodies like the Environmental Protection Agency (EPA). Leading economies' governments are getting more active in promoting green business practices and formalizing more legislation and regulation to impose on businesses in the future. One important performance indicator of the sustainability of many international supply chains is the carbon footprint.

5. Social Responsibility:

Additionally, there is a broader socio economic consequence. Fairtrade and business ethics are increasingly being used as benchmarks for measuring a company's social responsibility and as deciding elements in business decisions. The consumer's perception of a company's brand is shattered by social pressure. A sizable portion of consumers has started basing their purchases on the supply chain's moral standards and social responsibilities. Another crucial business environmental issue that can make or fail a corporation is global corporate citizenship and social responsibility.

6. Socio-cultural Factor:

“Culture plays an integral part in the decision-making process of operations and supply chain managers”. Strategic decisions are not always based on economic factors, according to the Behavioral Theory of the Firm approach, an economics-based concept for understanding the motives of a corporation. Instead, strategic decisions are dependent on managers' and decision-makers levels of aspiration. The research of Weingarten and Durach strengthens and expands this behavioral theory and includes national culture as an additional external force.

7. Landscape and Reachability:

There doesn't appear to be a barrier due to time or location between providers and customers. Geographical restrictions still exist for some businesses, limiting their supply chain options and decisions. For instance, due to political and economic sanctions on Russia, a company in that  country could be unable to combine its supply chain with the supply networks of companies in the US. Since there is currently a trade war between China and the US, the same holds for businesses based in China. The most recent example of how geographic location might affect a decision to integrate supply chains comes from Huawei.

8. Legal Environment:

Legal and contractual risks frequently originate from disagreements about the terms of a contract, different interpretations of those terms, or noncompliance with those terms. Use or abuse of intellectual property can also be seen as a legal risk, especially when the prospect of patent infringement exists. In this category, lawbreaking and civil lawsuits are also acceptable. Instilling a zero-tolerance mentality toward any illegal action and educating employees and management at all levels about the law are wise strategies for avoiding legal liability.

 

 

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