1) The term supply chain is almost synonymous with value chain, encompassing both
inbound and outbound logistics.
2) Equity-based alliances include co-marketing, research and development, contracts,
turnkey products, strategic suppliers, and strategic distributors.
3) Voice-based governance mechanisms are external mechanisms.
4) Identify the basic characteristics of formal and informal institutions.
5) Staffing, training and development, compensation and performance appraisal, and
labor relations are main areas of HRM.
6) Discuss the economic arguments against free trade.