Exam (elaborations)
CIPS L4M1 LO3 WITH ANSWERS GRADED A
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10/2/24, 7:06 AMCIPS L4M1 LO3 WITH QUESTIONS AND ANSWERTS GRADED
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Terms in this set (56)
Mechanisms, procedures and processes that are used to control and direct an
Corporate Governance
organisation.
Ethics Principles that govern a person's or an organisations behaviour
Importance or worth that an attribute has for an individual or stakeholder group.
Values
Value advantage
Where an individual is unable to remain impartial due to a personal, professional or
Conflict of interest (COI)
public interest
1. Disclose
2. Distance
The 4D model
3. Delegate
4. Disassociate
Ensuring that products and services are obtained in a responsible and sustainable way
Ethical Procurement that demonstrates respect for people involved in the supply chain and the environment
such as fraud, corruption, bribery, modern slavery, human rights.
A document stating the standards, behaviours and actions that a CIPS member must
CIPS Code of Conduct
conform to during their membership of the organisation
1. Enhance and protect the standing of the profession
2. Maintain the highest standard of integrity in all business relationship
CIPS code of Conduct - 5 areas 3. Promote the eradication of unethical business practices
4. Enhance the proficiency and stature of the profession
5. Ensure full compliance with laws and regulations
A series of rules set by an organisation that define suitable behaviours and values that
should be used and applied by a member of that organisation, for the purpose of
Code of conduct
acting in a suitable manner, as well as demonstrating uniformity and upholding the
standards of the organisation
Continuing professional development (CPD) Undertaking training or attending courses to develop knowledge
Principles adopted by the organisation.
Procurement policies and strategies
High level planning, including setting direction and long-term goals.
Procedure A method by which a task should be undertaken
Policies Principles adopted by the organisation
Risk Managemenf A process involving risk identification, assessment, management and mitigation
Accountability ability to answer for one's own actions
Reporting lines and the way teams within the organisation support the strategy of the
Organisational structure
organisation.
Allows an organisation to demonstrate how it's procurement activities deliver value for
money, how they contribute to the realisation of broader goals/objectives by tracking
Procurement Reporting
the right procurement KPIs. Gives the business power to enhance its procurement
strategy by preventing minor inefficiencies from becoming major issues.
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