Cips Level 3 Module 1 Questions With Correct Answers.

What is the competitive dialogue procedure? {Ans: This is used when an authority is unsure of their requirements so they engage with suppliers in an attempt to get clarity around their requirements}What is a performance specification? {Ans: This is an outcome focused specification, usually used for services.}How many employees does a micro business have? {Ans: Less than 10}What is gain share pricing? {Ans: When the supplier achieves a level of performance above what would be expected and the buyer and seller share the savings.}How many employees does a medium business have? {Ans: 250 or fewer}What is a situation target proposal (STP)? {Ans: It is a statement that describes the current situation, paints the vision of the target and lists the elements to be used to get to the target}What is corporate social responsibility? {Ans: Corporate social responsibility is the concern businesses have for society.}What are the four stages of the product life cycle? {Ans: 1. Introduction 2. Growth 3. Maturity 4. Decline}What are SMART objectives? {Ans: Specific, Measurable, Achievable, Realistic, Timely}What is a SWOT analysis? {Ans: a study undertaken by an organization to identify its internal strengths and weaknesses, as