A university is working with a software company to develop a new research software package. What consideration would be particularly important before terminating the relationship?

• A.Security rights
• B.Employment rights
• C.Financial rights
• D.Intellectual property rights

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Which of the following describes differentiation as a method of competitive advantage?
* A company that sets out to be the lowest-cost producer in the market
* A company that will seek to be unique in a way that is valued by buyers
* A company producing a standard or budget cost product
* A company producing a product that attracts a premium price charge

• A.1 and 2 only
• B.1 and 3 only
• C.2 and 3 only
• D.2 and 4 only

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A 'restricted market' is likely to arise when the entry costs for new suppliers are prohibitively high, and levels of market profitability amongst existing suppliers may be relatively low. Is this a true statement?

• A.No, entry costs are low in all markets due to technology, and this is increasing profitability significantly
• B.Yes, these markets usually have only a small number of competent and capable suppliers
• C.No, usually these markets have a regular flow of new suppliers entering them
• D.Yes, new entrants are low; however, due to high competition, profit levels are always very high

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Pablo has run an open- competition to secure a new contract for a supplier of paper for his Birthday Card making company. He has received 10 submissions from various suppliers and needs to put a team together to evaluate the bids. What type of team should Pablo consider?

• A.A team composed of internal stakeholders
• B.A cross-functional team
• C.A team of procurement experts
• D.A team composed of internal and external stakeholders

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