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Exam 10: Managing Relationships With Customers and Suppliers

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Question 21

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In highly strategic relationships a _____ should be used because it allows for more flexibility which is needed in more strategic, longer-term relationships?

A) Contract
B) Performance work statement
C) Statement of objectives
D) Mentor

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Question 22

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There are several key elements to a good relationship management governance framework. Which of the following is NOT one of them?

A) Establish a clear exit strategy
B) Develop a communications cadence
C) Establish communication protocols
D) Create a tiered management structure

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Question 23

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A ____________ structure is the establishment of an internal organization to perform key functions on behalf of an organization.

Performance based agreements shift the thinking away from activities to outcomes; however, they often still pay the supplier using transaction based pricing triggers.

This relationship typically occurs when a buyer identifies a supplier that offers a unique differentiation from other suppliers and provides a cost, efficiency or other competitive advantage for the client company.

The U.S. Army's 1909 contract with the Wright Brothers is an example of an outcome based contract.

The Activity Trap, as described in Vested Outsourcing, is the case where the supplier is paid for each activity performed, whether or not it is needed.

Which of the following is not one of the Vested Outsourcing Elements of Successful Contracts?

Issues between buyers and suppliers can be segmented into three categories: concerns, problems, and conflicts.

Trading partners should talk about the terms: concerns, problems, and at the formulation of the governance framework. Partners should also decide, who gets to decide if something is labeled a problem or a conflict. Why should the partners have this discussion?

When it comes to partnering, which of the following is NOT correct?

According to a survey by IACCM of the top ten terms used in negotiations, they found that these terms clearly helped negotiators add value to the trading relationship.

This relationship focuses on achieving desired outcomes, which form the basis of the agreement.

Which of the following types of relationships are buyers most likely to use a Master Services Agreement with to do repeat business more efficiently?

This agreement is usually three to five years in length, typically require a higher level of interaction between trading partners, and pays the supplier using transaction-based pricing triggers.

A business agreement that is not structured well can result in "perverse incentives": direct negative behaviors that drive unintended consequences.

Which of the ten elements of a successful business agreement suggests that trading partners develop a formal management strategy that focuses on maximum integration of end-to-end business process effectiveness when at all possible?

Collaboration can be defined as the process where two or more people or organizations work together to realize shared goals.

Which of the following is NOT one of the C's of business relationships?

The more strategic the partnership, the less need there is for trust, as the potential for harm is too great.