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Communication and Listening Skills Quiz

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Questions and Answers

What is the main purpose of a buying consortium?

To compete with other buying consortiums

To increase the cost of goods and services for its members

To decrease the bargaining power of its members

To create larger contracts for economies of scale (correct)

What is a characteristic of the relationship with a supplier in a buying consortium?

Collaborative and flexible

Transactional and impersonal (correct)

Long-term and personalized

Informal and unreliable

How does a buying consortium represent itself in discussions with suppliers?

Through individual member organizations

By using a third-party sales team

By presenting a unified procurement unit (correct)

By seeking help from external consultants

What is the fundamental aspect of emotional intelligence within leadership?

Recognizing and being aware about the needs and emotions of others Signup and view all the answers

What difficulties might arise in cross-functional teams if team members also report to their individual functional managers?

Dual authority structures and conflicting demands Signup and view all the answers

What does the term 'rapport' refer to?

The sense of relationship or connection when relating to another person Signup and view all the answers

What comprises 18% of the organizational costs according to the text?

Wages and salaries Signup and view all the answers

What is a pivotal aspect of financial management based on Lysons and Farrington's research?

Allocation of resources Signup and view all the answers

What is crucial for optimizing cost efficiency, supplier relationships, and competitiveness in the market based on the text?

Recognizing and managing the proportion of procurement spend Signup and view all the answers

What makes up the remaining 18% of the organizational costs?

Costs/overheads Signup and view all the answers