Price Is the Primary Determining Factor in Choosing a Vendor

question 65

True/False

Price is the primary determining factor in choosing a vendor since most products are essentially the same.

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Definitions:

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.

Organizational Entity

Refers to any organizationally defined unit within a business, such as departments, divisions, teams, or any designated group of employees.

Alliance

A formal agreement or union between parties, often organizations or nations, to work together towards common goals.

Achieving Legitimacy

The process through which an organization seeks to be accepted or regarded as proper or valid within a certain context or by a specific audience.