Exam (elaborations) MNP 2601

MNP2601 Assignment 1 Semester 1 & 2 2021 (The Correct options are highlighted in red) 1. 2 Option 2 (Chapter 5 of the prescribed book) A straightforward relationship between the buyer and the seller where both parties exchange goods and services for payment is known as a transactional relationship. A collaborative relationship involves two parties or more parties adopting a high level of cooperation to maintain a trading relationship over time. Alliance relationships have to do with institutional trust and prudent trust, which is carefully designed, planned and mutually agreed upon. Supplier relationship management has to do with a buying organisation’s strategic management philosophy for interacting with its supply base with the aim of sustaining superior performance throughout the span of their association. 2. 4 A collabor