Describe the Four Basic Actions That Organizations Must Take to Preserve

question 48

Essay

Describe the four basic actions that organizations must take to preserve the confidentiality of sensitive information.

Identify key organizations that set ethical standards for supply management.

Evaluate the effectiveness of various e-procurement strategies.

Understand negotiation strategies and their application in supplier relationships.

Grasp the importance of make-or-buy decisions and the reasons underlying them.

---

Definitions:

Service Department Costs

The expenses incurred by support departments within a company that do not directly contribute to profit but provide necessary services.

Operating Departments

Sections or divisions within a business that are responsible for carrying out its core operations, as opposed to support or administrative departments.

Direct Method

A way of preparing a cash flow statement where actual cash flows from operating activities are listed directly.

Service Department Costs

Expenses associated with departments that do not directly produce goods but provide support services, such as maintenance or security.