One of the Most Fundamental and Critical Decisions in Any

question 4

Multiple Choice

One of the most fundamental and critical decisions in any organization is,should we:

• A)make or buy the needed good or service?
• B)have a single source or multiple sources for a specific purchase?
• C)order small quantities to avoid carrying costs or large quantities for volume discounts?
• D)source locally or globally?
• E)form a strategic partnership with a single source or split the order to foster competition?

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Definitions:

Fixed Investments

Capital investments in physical assets like buildings, equipment, or machinery that are not easily converted into cash.

Power And Influence

The capacity to affect the behavior, development, or decision-making of others through authority, persuasion, or other mechanisms within personal or professional contexts.

Resource Limitations

Constraints on the availability or access to resources, such as time, money, materials, and labor, that can affect the execution of plans or projects.

Change Management

The approach to transitioning individuals, teams, and organizations to a desired future state, managing the process of change effectively.