March Sale Special - 65% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: c4sdisc65

L4M2 PDF

$38.5

$109.99

3 Months Free Update

  • Printable Format
  • Value of Money
  • 100% Pass Assurance
  • Verified Answers
  • Researched by Industry Experts
  • Based on Real Exams Scenarios
  • 100% Real Questions

L4M2 PDF + Testing Engine

$61.6

$175.99

3 Months Free Update

  • Exam Name: Defining Business Needs
  • Last Update: Mar 29, 2024
  • Questions and Answers: 144
  • Free Real Questions Demo
  • Recommended by Industry Experts
  • Best Economical Package
  • Immediate Access

L4M2 Engine

$46.2

$131.99

3 Months Free Update

  • Best Testing Engine
  • One Click installation
  • Recommended by Teachers
  • Easy to use
  • 3 Modes of Learning
  • State of Art Technology
  • 100% Real Questions included

L4M2 Defining Business Needs Questions and Answers

Question # 6

Ethan is the newly appointed CEO of ATT Group. He sees that the company is wasting financial resources on unnecessary spends. To solve this problem, Ethan requires all functional managers to prepare their department budget from scratch. Each spend must have justification or it will not be approved. Which budgeting method is Ethan using?

A.

Value preposition budget

B.

Zero-based budget

C.

Incremental budget

D.

Activity-based budget

Full Access
Question # 7

Which of the following areas is specified by ISO/IEC 27001 family?

A.

The dimensions and associated tolerances for a series of housings for piston seals

B.

The requirements for an information security management system

C.

Evaluation and assessment of mutual agreed customer food safety requirements

D.

The requirements for an environmental management system

Full Access
Question # 8

Halfords is a major bicycle and car parts retailer with long history in the market. Its suppliers are plentiful and there is no threat of forward integration. Some other smaller retailers are applying 3D-printing technology to make personalized bicycle parts but their market share is relatively low. 3D-printing technology is an example of which competitive force?

A.

Bargaining power of buyer

B.

Threat of substitute

C.

Rivalry within the industry

D.

New entrants may enter the market

Full Access
Question # 9

EV Inc is facing the following challenges:

1. The capital investment is enormous.

2. Most of company's working capital is in form of inventories, which include raw materials, work-in-progress and finished goods.

3. Competitors are increasingly deploying robotics and automation to boost productivity.

Which of the below business sectors does EV Inc belong to?

A.

Construction

B.

Manufacturing

C.

Financial services

D.

Retails

Full Access
Question # 10

When procuring an IT equipment, at which stage the buyer’s expectations are translated into a technical specification?

A.

Installation

B.

Design

C.

In-service support

D.

Customer support

Full Access
Question # 11

Which of the following are the causes of material cost variance?

1. The buyer updates purchase-to-pay system to track payment and delivery

2. An unprocessed goods received note is missing

3. The employees must work overtime to catch up with the customers' orders

4. The purchase is made in emergency

A.

2 and 4 only

B.

1 and 4 only

C.

1 and 3 only

D.

2 and 3 only

Full Access
Question # 12

At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?

A.

Specification stage

B.

Supplier relationship stage

C.

Tendering stage

D.

Contracting stage

Full Access
Question # 13

Which of the following bodies provides standards for the products and services in the US?

A.

ISO

B.

ANSI

C.

AFNOR

D.

BSI

Full Access
Question # 14

Royal Navy is preparing a through-life contract. They put to the contract a term on rectification of operational defects and planning and delivery of Fleet Time Support Periods. Which part of through-life requirement does this term belong to?

A.

Installation

B.

In-service support

C.

Manufacture

D.

Customer support

Full Access
Question # 15

Which of the following agencies can produce a technical standard?

A.

House of Lords

B.

Marketing department

C.

BSI

D.

Department of State

Full Access
Question # 16

According to Porter’s value chain, which of the following activities is categorised as support activity?

A.

Product warranties and special services

B.

Storage of raw materials

C.

Distribution of products from factory to retailer

D.

Supervising the production line

E.

Develop digital SRM technology to manage suppliers better

Full Access
Question # 17

A consulting firm in London had previously had static budgets. They were set once and locked in for the year. This resulted in departments meeting their budgets early and doing virtually nothing the rest of the accounting period. To address this imbalance, the company tossed out the static budget and developed a new one for each department of the next 18 months. And each month, real sales figures are analyzed against the plan and the budget is adjusted accordingly. Then the company adds another month into the budgeting plan. What type of budget this company is using?

A.

Activity-based budget

B.

Rolling budget

C.

Incremental budget

D.

Zero-based budget

Full Access
Question # 18

A drawing is an example of…?

A.

Statements of work

B.

Technical specifications

C.

Output specifications

D.

Outcome specifications

Full Access
Question # 19

Which of the following is a challenge of making a business case for straight re-buys?

A.

Terms and conditions

B.

Research of procurement process

C.

Effective inventory control

D.

Identifying suitable suppliers

Full Access
Question # 20

Andrew is responsible for procurement of capital assets at Lumber Ltd. He is devising new business case for the purchase of a new band saw. The purchase price of the saw is $50,000. Andrew estimates that the machine will generate $10,000 per year of net cash flow. What is the payback period of this band saw?

A.

10 years

B.

5 years

C.

3 years

D.

4 years

Full Access
Question # 21

What is the purpose of sending value engineering analysis to external suppliers?

A.

To improve early supplier involvement

B.

To improve the existing products

C.

To analyse the supply market

D.

To standardise production processed

Full Access