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Eric, a senior-level manager in an information technology company, evaluates the company's competitive position to determine the company's long-term objectives. In the context of the strategic planning process, which of the following should be Eric's next step?
Vendor Evaluation
The process of assessing and reviewing suppliers based on factors such as price, quality, service, and reliability to ensure they meet the company's standards and requirements.
Vendor Selection
The process of evaluating and choosing suppliers for goods or services based on criteria such as price, quality, and reliability.
Vendor Development
The process of improving and enhancing the capabilities of vendors to meet the procuring organization's supply chain requirements.
World Class Firm
A company that achieves high levels of efficiency, competitiveness, and profitability, recognized globally for excellence in its operations and services.
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