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'Open tendering may impose a substantial administrative burden on the procurement function.' True or false?
‘The social responsibility of business is profit maximisation’ - focusing on returns to shareholders.
This is a famous business philosophy - in contrast to a philosophy of Corporate Social Responsibility as expounded by CIPS.
Which economic and management thinker famously promoted this view?
Because of the need for frequent or semi-frequent uses of competition, public sector buyers are less likely to find themselves in a close partnership arrangement with a supplierthan private sector buy-ers.True or false?
Which of the following would be / should be subject to health and safety legislation?
Under a contract with a price adjustment clause, which of the following would commonly be grounds for price adjustment (depending on the precise contract terms)?
The system by which organisations are directed and controlled, thinking about business ethics and stakeholder responsibility, and where Directors may be held to account, is called:
Sources of finance for a private sector entity primarily include (select all that apply):
The principle that different spends may require different procedures, with different levels in the or-ganisational hierarchy having different spend authorisations is called:
Protecting domestic industry from the effects of global competition is known as:
The price of one currency expressed in terms of another currency is called the:
The idea / practice that some users / internal customers will spend organisational funds without in-volving procurement professionals when required to do so by organisational rules, is called:
‘The costs of business activities which are not reflected in the costing of a product or service and paid for by consumers, but which are borne by the wider community – such as the costs of pollution and associated ill health, traffic congestion or environmental degradation’ are known as:
Which of the following are ways of classifying organisations? (select all that apply)