Coordinate Business Resources

1. What is tendering about

• Sending in a purchase order for goods and services.

• The process of inviting companies to make an offer, bid or proposal to carry out works.

• Companies sending out marketing and promotional materials about their products and services

If you were to tender out an order, what would you look for?

• Quality of product at the right price

• Named brand, Quality of product at the right price and guarantees

• Discounts and after care services on products

• All of the above.

You have discovered that the budget allocated will not be enough to purchase all of these items to the quantities that are required. What will you do.

• Recommend an increase in the budget based on the best quality and most economical and effective choices you have identified

• Ask companies to reduce the prices of their products and the guarantee cost to accommodate your budget.

• Recommend that only half of the items be bought now and the rest bought later on

• Recommend increase the items

How will you seek approval for your preferred supplier before you go ahead to order what the company needs

• Agree the use of the company with management

• Agree the order and the order amount with management

• Get the order signed off by management before committing to the order

• All of the above.

What is the purpose of maintaining Business Resources

• To show good management

• To make effective and efficient use of resources, so that business profits can be maximized

• To make more sales

• To get good press reviews.

Which of the following is not a business resource

• Natural resources

• Human Resources

• Financial Resources

• Saving Account

What's a business resource

• Capital and finance resource

• Human resource

• Natural resource

• All of the above

What are some factors that should be considered when determining the resource requirement needed for your business?

• The type of business

• The use of the resources

• Size of the business

• Geographical location

It is important to monitor your resources, as relatively new equipment can become obsolete quickly.

• True

• False

The Payment of cash for goods or services, or a charge against available funds in settlement of an obligation as evidenced by an invoice, receipt, voucher, or other such document is known as a/an

• Budget allocation

• Expenditure

• Business Resource

• Procurement