L4M8 exam

CORRECT TEXT What are the five stages in Tuckman’s team Development model?View AnswerAnswer: Tuckman’s team development model depicts from where a team is formed to the various stages they might experience before the end where the objective is achieved and these includes. 1) Forming: here they are just being put...

CORRECT TEXT Describe four factors that could damage reputation within the supply chairView AnswerAnswer: The reputation of all the organizations within a supply chain is linked. A Company’s reputation is an intangible asset that can contribute to the failure of an organization if damaged. Factors that could damage organizational reputation...

CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...

CORRECT TEXT Which contract term contains details of when a product or service should be delivered and ex-plained the potential loss of business?View AnswerAnswer: Contract terms are the right and duties agreed between parties with which are then documented in contract. Terms can be either implied or expression. Implied terms...

CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...

CORRECT TEXT Research the ethical standard or accreditations of an industry with which you are familiarView AnswerAnswer: If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could...

CORRECT TEXT What is PQQ and what does it include?View AnswerAnswer: Pre-qualification questionnaire (PQQ) is often standard forms that buyers send to po-tential suppliers. The purpose is to ensure that these potential suppliers could, if they win the contract, supply the product or service to the standard required. PQQ includes...

CORRECT TEXT What are five recognized types of modern slavery?View AnswerAnswer: Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.

CORRECT TEXT Describe a current or recent trade war of which you are aware and explain the implication it has for world trade.View AnswerAnswer: Trade war is an economic conflict where countries make it difficult for global trading to happen. Trade wars can make importing products to a country very...

CORRECT TEXT What are five recognized types of modern slavery?View AnswerAnswer: Modern slavery is against ethical and responsible sourcing. Modern slavery is one of the areas to understudy for procurement professionals to carry out ethical and responsible sourcing and this is recognized in five ways.