1
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CPSM Exam #3 Questions and Answers
(100% Correct Answers) Already Graded
A+
Q: Identifying, Acquiring, Accessing, Positioning
Ans: Supply Management's primary mission is to support organizational
needs through:
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Q: 1. Stay abreast of market conditions
2. Ensure supplier competitiveness
3. Identify new suppliers
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4. Develop value-adding relationships
5. Improve supplier performance
Ans: 5 Aspects of Supply Management Capabilities
Q: Influence
Ans: The degree to which supply management influences
organizational decisions depends on the degree to which supply is
seen as integral to organization success
Q: Organizational Synergy
Ans: a mutually advantageous conjunction, where the whole is
greater than the sum of its parts. Ex: A cross-functional new-product
development team could likely bring the product to market faster than
by using the old step-by-step approach
Q: 5 ways corporate goals are defined
, 2
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Ans: 1. Broad statements of ideal future conditions
2. Statements of anticipated or projected outcomes
3. Specific objectives relating to specific time periods
4. Objectives made specific in terms of time and degree
5. The object of plans
Q: 4 Ways supplier should understand the differences in goals are:
Ans: 1. Strategic and operational goals
2. Amounts of employee input
3. Level of goal difficulty
4. Quantitative and qualitative goals
Q: Operational Goal
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Ans: -More specific than strategic goals
-Usually related to lower level organizational goals
-Usually have shorter time frames
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Q: In regards to goal difficulty, goals should be:
Ans: -Attainable
-Require focused effort
-Stretch employee comfort zones
Q: Vision Statement
Ans: The overarching purpose of the organization and its role in society
Q: Mission Statement
Ans: -Who are we?
-What need do we want to meet?
-How will we meet those needs?
-What are our central values?
Q: Value Statement
, 3
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Ans: Sets forth value in:
-Hiring practice
-Resource Allocation
-Performance Measurement
-Treatment of suppliers
-Treatment of employees
Q: 3 types of strategies
Ans: 1. Corporate Strategies
2. Business Unit Strategies
3. Supply Management Strategies
Q: The Planning Hierarchy (5 Stages)
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Ans: 1. Vision
2. Mission
3. Strategy
4. Goals
5. Plans
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Q: 4 Questions Business Plans should answer
Ans: 1. What is our business?
2. Who are our customers?
3. Where are we going?
4. How will we get there?
Q: 7 Key Areas of Business Planning
Ans: 1. Overview of Business
2. Marketing Plan
3. Marketing Strategy-Value proposition
4. Management and Human Capital
5. Operations Capabilities
6. Financial Plan
7. Critical business risks
Q: Tactical Plans
Ans: -Typically for time frames up to a year
-Provide control and measurement mechanisms
Q: Standing Plans
For Expert help and assignment solutions, +254707240657
CPSM Exam #3 Questions and Answers
(100% Correct Answers) Already Graded
A+
Q: Identifying, Acquiring, Accessing, Positioning
Ans: Supply Management's primary mission is to support organizational
needs through:
© 2025 Assignment Expert
Q: 1. Stay abreast of market conditions
2. Ensure supplier competitiveness
3. Identify new suppliers
Guru01 - Stuvia
4. Develop value-adding relationships
5. Improve supplier performance
Ans: 5 Aspects of Supply Management Capabilities
Q: Influence
Ans: The degree to which supply management influences
organizational decisions depends on the degree to which supply is
seen as integral to organization success
Q: Organizational Synergy
Ans: a mutually advantageous conjunction, where the whole is
greater than the sum of its parts. Ex: A cross-functional new-product
development team could likely bring the product to market faster than
by using the old step-by-step approach
Q: 5 ways corporate goals are defined
, 2
For Expert help and assignment solutions, +254707240657
Ans: 1. Broad statements of ideal future conditions
2. Statements of anticipated or projected outcomes
3. Specific objectives relating to specific time periods
4. Objectives made specific in terms of time and degree
5. The object of plans
Q: 4 Ways supplier should understand the differences in goals are:
Ans: 1. Strategic and operational goals
2. Amounts of employee input
3. Level of goal difficulty
4. Quantitative and qualitative goals
Q: Operational Goal
© 2025 Assignment Expert
Ans: -More specific than strategic goals
-Usually related to lower level organizational goals
-Usually have shorter time frames
Guru01 - Stuvia
Q: In regards to goal difficulty, goals should be:
Ans: -Attainable
-Require focused effort
-Stretch employee comfort zones
Q: Vision Statement
Ans: The overarching purpose of the organization and its role in society
Q: Mission Statement
Ans: -Who are we?
-What need do we want to meet?
-How will we meet those needs?
-What are our central values?
Q: Value Statement
, 3
For Expert help and assignment solutions, +254707240657
Ans: Sets forth value in:
-Hiring practice
-Resource Allocation
-Performance Measurement
-Treatment of suppliers
-Treatment of employees
Q: 3 types of strategies
Ans: 1. Corporate Strategies
2. Business Unit Strategies
3. Supply Management Strategies
Q: The Planning Hierarchy (5 Stages)
© 2025 Assignment Expert
Ans: 1. Vision
2. Mission
3. Strategy
4. Goals
5. Plans
Guru01 - Stuvia
Q: 4 Questions Business Plans should answer
Ans: 1. What is our business?
2. Who are our customers?
3. Where are we going?
4. How will we get there?
Q: 7 Key Areas of Business Planning
Ans: 1. Overview of Business
2. Marketing Plan
3. Marketing Strategy-Value proposition
4. Management and Human Capital
5. Operations Capabilities
6. Financial Plan
7. Critical business risks
Q: Tactical Plans
Ans: -Typically for time frames up to a year
-Provide control and measurement mechanisms
Q: Standing Plans
