Which of the Following Best Explains 'Purchasing's Involvement in New

question 47

Multiple Choice

Which of the following best explains 'purchasing's involvement in new product development'? 

• A) Ensuring that goods ordered are delivered according to the company's specifications. 
• B) The continuous monitoring and evaluation of activities initiated to reduce costs. 
• C) The continuous monitoring of quality of supplied orders. 
• D) This relates to purchasing's contribution to product innovation.

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Definitions:

Polycentric

In the context of international business, polycentric refers to a strategy or approach where a company adapts its products, practices, and policies to fit the local cultures and conditions of the countries in which it operates.

Transnational Company

A corporation that operates in multiple countries, transcending national boundaries with integrated global strategies.

Global Company

A business entity that operates in multiple countries around the world, transcending national boundaries and markets.

Vision

A clear, inspiring long-term desired change resulting from an organization's work, guiding its strategic planning and decision making.