Business environment
Learning Objective: Describe the environment in which business operates
Prompt:
Your CEO wants to develop specific criteria to select vendors for office supplies, equipment, etc. and has asked you to investigate selection criteria. In a two page business memo:
- Explain why a selection criteria is needed
- Recommend specific criteria (no less than 5 elements)
- Explain why each element in the list is needed
- To strengthen your recommendation, include an example of a company and its criteria.
Instructions
- Use the attached memo template.
- Support your memo with 2 to 3 credible references beyond the course materials. Please note Wikipedia, Investopedia and similar websites are not credible academic references.
Answer previewImportance and Objective of the Memo
The primary aim of this memorandum is to propose a specific criterion for selecting our vendors. As a cost-effective entity, we intend to partner with vendors who will not only meet our needs but also assist in striving to satisfy our clients’ needs. A vendor selection criterion is useful in identifying the most viable and favorable suppliers for particular commodities. It will ensure we get the most capable, competent and best quality vendors to procure needed goods and services.
The Selection Criterion
The following are the factors to be considered in the selection criterion. First is the price of the goods and services. The prices offere…
(900 words)