Froggy Jumps Contract Manufacturing QuizOnline version Test your knowledge about contract manufacturing and global strategies with these 10 questions! by sarah ayyad 1 What is contract manufacturing? a The outsourcing of a company's manufacturing processes to a third-party b The process of manufacturing goods in-house c The sale of manufacturing equipment to another company 2 What are the benefits of contract manufacturing? a Increased control over the manufacturing process b Higher production capacity c Cost savings, access to specialized expertise, and increased flexibility 3 What is a global strategy? a A strategy that involves outsourcing all operations to a single country b A strategy that involves expanding operations across multiple countries c A strategy focused on domestic operations only 4 What are the advantages of a global strategy? a Access to new markets, economies of scale, and diversification b Increased control over operations c Lower production costs 5 What is a contract manufacturer? a A company that specializes in manufacturing products for other companies b A company that provides consulting services to manufacturers c A company that manufactures products for its own brand 6 What are the risks of contract manufacturing? a Limited production capacity b Higher production costs c Quality control issues, intellectual property theft, and dependency on the contract manufacturer 7 What is a joint venture? a A business partnership between two or more companies b A contract between a company and a supplier c A merger between two companies 8 What is a supply chain? a The network of organizations involved in the production and delivery of a product b The distribution of a product to retailers c The process of manufacturing a product 9 What is franchising? a A business model in which a company operates multiple branches of its own business. b A business model in which a company licenses its brand and business model to third-party operators. c A business model in which a company sells its products or services directly to customers. 10 What is a franchisee? a An individual or company that owns a franchise brand. b An individual or company that provides support and training to franchisees. c An individual or company that purchases the rights to operate a franchise. 11 What is a franchisor? a A company that purchases the rights to operate a franchise. b A company that provides support and training to franchisees. c A company that grants the rights to operate a franchise. 12 What are the advantages of franchising? a Lower startup costs, flexibility in business operations, and higher profit margins. b Complete control over the business, unlimited growth potential, and reduced risk. c Access to an established brand, support from the franchisor, and a proven business model. 13 What are the disadvantages of franchising? a Higher startup costs, increased competition, and limited growth potential. b Lack of support from the franchisor, higher risk, and lower profit margins. c Loss of control, ongoing fees and royalties, and limited flexibility. 14 What is a franchise agreement? a A document that outlines the terms and conditions of the franchise opportunity. b A legally binding contract between the franchisor and franchisee. c A document that lists the fees and royalties associated with the franchise. 15 What is a royalty fee? a A one-time fee paid by the franchisee to the franchisor. b A percentage of the franchisee's revenue that is paid to the franchisor. c A fee paid by the franchisor to the franchisee for support and training. 16 What is a franchisee fee? a A fee paid by the franchisor to the franchisee for support and training. b A percentage of the franchisee's revenue that is paid to the franchisor. c A one-time fee paid by the franchisee to the franchisor for the right to operate the franchise.
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