The key elements that would be included in the contract. Contract management: It is the management of contract creation, analysis and execution to maximize the operational and financial performance while reducing the risks involved. In order for contract management to be successful, both parties involved in the contract must be flexible towards changing circumstances.

Question

You are the senior buyer for a growing technology company and an avid golfer You have just opened an invitation to attend the masters Golf Tournament in Georgia this coming spring. The invitation is from a supplier company that has been trying to sell you its new line of products for the past year. They will pay for everything, travel, room, meals and you'll even get an opportunity to play in the pro- am event on Wednesday before the match starts. You have read the newly released Employee Manual and there is no reference or rule that specifically states that an employee cannot accept a fully paid trip from a vendor, although there are some vague restrictions on lunches and dinners paid for by suppliers 1. Do you think the supplier will expect "special treatment in the next buying situation?

Answer 1

Question

Chapter 14, Problem 6DQ

Summary Introduction

To explain: The key elements that would be included in the contract.

Contract management:

It is the management of contract creation, analysis and execution to maximize the operational and financial performance while reducing the risks involved. In order for contract management to be successful, both parties involved in the contract must be flexible towards changing circumstances.

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You are the senior buyer for a growing technology company and an avid golfer You have just opened an invitation to attend the masters Golf Tournament in Georgia this coming spring. The invitation is from a supplier company that has been trying to sell you its new line of products for the past year. They will pay for everything, travel, room, meals and you'll even get an opportunity to play in the pro- am event on Wednesday before the match starts. You have read the newly released Employee Manual and there is no reference or rule that specifically states that an employee cannot accept a fully paid trip from a vendor, although there are some vague restrictions on lunches and dinners paid for by suppliers 1. Do you think the supplier will expect "special treatment in the next buying situation?

You are the senior buyer for a growing technology company and an avid golfer You have just opened an invitation to attend the masters Golf Tournament in Georgia this coming spring. The invitation is from a supplier company that has been trying to sell you its new line of products for the past year. They will pay for everything, travel, room, meals and you'll even get an opportunity to play in the pro- am event on Wednesday before the match starts. You have read the newly released Employee Manual and there is no reference or rule that specifically states that an employee cannot accept a fully paid trip from a vendor, although there are some vague restrictions on lunches and dinners paid for by suppliers 1. Do you accept or decline the invitation? Why?

You are the senior buyer for a growing technology company and an avid golfer You have just opened an invitation to attend the masters Golf Tournament in Georgia this coming spring. The invitation is from a supplier company that has been trying to sell you its new line of products for the past year. They will pay for everything, travel, room, meals and you'll even get an opportunity to play in the pro- am event on Wednesday before the match starts. You have read the newly released Employee Manual and there is no reference or rule that specifically states that an employee cannot accept a fully paid trip from a vendor, although there are some vague restrictions on lunches and dinners paid for by suppliers 1. Just because it is not specifically mentioned in the Employee Manual would you be acting ethically if you accepted?