Harry has just entered into a partnership with a key supplier. Although he is excited about the prospect, he thinks it's a good idea to set some goals and KPIs.Which of the following criteria should Harry use to decide if a KPI is appropriate?
Answer(s): A
The correct answer is Measurable, achievable and relevant. This is from SMART KPIs on p. 151. Smart stands for specific, measurable, achievable, relevant, time-bound. In the exam they come up in different orders so be careful.
Which of the following behaviours are you likely to see in a Partnership relationship?
Answer(s): B
The correct answer is `Strong levels of trust and honest communication'. The questions on Partnership in the exam tend to be quite straightforward, but if you're struggling with this see p. 148 for further details of behaviour in Partnerships.
In a partnership who is responsible for decision making?
The correct answer is both the supplier and the buyer- joint decision making is a key aspect of partnership relationships. A project steering committee decides on priorities, suggests improvements, conducts audits etc. See p.152
Intellectual Property Rights (IPR) include items such as copywrite and trademarks. A buyer is considering entering into a partnership with their supplier to create a new product which will be released in two years' time. Should IPR be included into a contract between partners?
The correct answer is `Yes- IPR is a valid concern for both parties but will survive the termination of the agreement' (p.112). See the section on `Legal considerations' in chapter 2.4
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