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Partnering Approaches

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Questions and Answers

Which of the following is an example of how a large corporation can partner with local suppliers to support economic development and meet its corporate social responsibility goals?

Providing training, support, and preferential buying arrangements to local businesses (correct)
Donating money to a local charity
Hiring only employees from the local area
Providing free products to customers

What can understanding the drivers of partnering help procurement professionals do?

Determine which suppliers to overpay
Make informed decisions about when and how to pursue partnering (correct)
Avoid partnering with local businesses
Make decisions about which suppliers to exclude

How can organisations evaluate the success of their partnering efforts?

By monitoring the financial performance of their partners
By measuring the number of suppliers they have partnered with
By assessing the impact on economic development and corporate social responsibility goals (correct)
By tracking employee satisfaction

Which of the following is NOT a strategic driver for adopting a partnering approach?

Environmental factors (D) Signup and view all the answers

What is an example of how partnering can provide a competitive advantage?

Partnering with a research university to gain access to cutting-edge research (B) Signup and view all the answers

How can partnering help manage risks in complex or uncertain environments?

By pooling resources and knowledge to better anticipate and respond to risks (B) Signup and view all the answers

Which of the following is an example of how partnering can lead to quality improvement?

A hospital and a medical equipment supplier partnering to improve patient care (A) Signup and view all the answers

What market conditions may favor partnering?

Intense competition, rapid technological change, or high customer expectations (C) Signup and view all the answers

Which of the following is an example of how partnering can foster innovation?

A software company partnering with its customers to co-develop new features and enhancements (B) Signup and view all the answers

Which of the following is an example of how partnering can help organizations meet social expectations?

Working with suppliers to improve sustainability or social impact (B) Signup and view all the answers