The Bargaining Leverage of Suppliers Is Greater When

question 50

Multiple Choice

The bargaining leverage of suppliers is greater when

• A)only a small number of suppliers exist and when it is difficult for industry members to switch to attractive substitutes.
• B)industry members incur low costs in switching their purchases from one supplier to another.
• C)industry members purchase in large quantities and thus are important customers of the suppliers.
• D)it makes good economic sense for industry members to vertically integrate backward.
• E)the supplier industry is composed of a large number of relatively small suppliers.

Understand the processes involved in the dissolution, winding up, and termination of a partnership.

Appreciate the rights and obligations of partnership upon the entry and exit of partners.

Recognize the degree of authority partners have in managing partnership affairs and in binding the partnership to third parties.

Understand the consequences of partners' wrongful acts and misrepresentations on the partnership and third parties.

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Definitions:

Promotion Committee

A group of people tasked with reviewing and deciding on the advancement or elevation of employees within an organization.

Politicking Strategy

A plan or approach employed in navigating or influencing political landscapes or organizational politics for specific outcomes.

Coalition Building

The process of assembling a group of stakeholders or organizations to achieve a common goal or address a specific issue through collective effort.

Reciprocation

The act of returning a gesture, favor, or communication with a similar or equivalent response.