A __________ Exists When a Buyer and Its Supplier Adopt

question 32

Multiple Choice

A __________ exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of and/or increasing the value of goods and services delivered to the ultimate customer.

• A)binding partnership
• B)company partnership
• C)restricted relationship
• D)supply partnership
• E)symbiotic partnership

---

Definitions:

Performance Management

The systematic process by which a company involves its employees in achieving organizational goals through planning, monitoring, and reviewing employee performance.

Feedback

Information provided regarding aspects of one's performance or behavior, intended to reinforce positives or identify areas for improvement.

Performance Goals

Specific, measurable objectives set for employees or teams to achieve within a timeframe as part of the performance management process.

Employee Relations

The management of the relationship between employers and employees, focusing on maintaining good working conditions, communication, and resolving conflicts.