10 Questions
What is the main purpose of a buying consortium?
To create larger contracts for economies of scale
What is a characteristic of the relationship with a supplier in a buying consortium?
Transactional and impersonal
How does a buying consortium represent itself in discussions with suppliers?
By presenting a unified procurement unit
What is the fundamental aspect of emotional intelligence within leadership?
Recognizing and being aware about the needs and emotions of others
What difficulties might arise in cross-functional teams if team members also report to their individual functional managers?
Dual authority structures and conflicting demands
What does the term 'rapport' refer to?
The sense of relationship or connection when relating to another person
What comprises 18% of the organizational costs according to the text?
Wages and salaries
What is a pivotal aspect of financial management based on Lysons and Farrington's research?
Allocation of resources
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
What makes up the remaining 18% of the organizational costs?
Costs/overheads
Test your understanding of communication and listening skills with this quiz. Explore techniques such as mirroring the other person's way of expression and actively listening to demonstrate interest and understanding.
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