BUAD 342 | UTK | Exam #1 Study Guide with Complete Solutions
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Course
BUAD 342
Institution
BUAD 342
BUAD 342 | UTK | Exam #1 Study Guide
with Complete Solutions
For Profit - Answer-Organizations that strive to generate a profit (revenue in
excess of expenses)
Not for Profit - Answer-Strive to provide particular services to constituents (e.g.,
governments, educational, or charitable organizat...
Procure to Pay Business Process - Answer✔✔-1. Identify need and (possibly)
internally request the purchase of goods or services by an authorized purchasing agent
2. Negotiate a purchase order with the vendor
3. Receive and inspect goods or services from a vendor
4. Store or maintain goods
5. Pay a vendor for goods and services
6. Return goods to a vendor
Order to Cash Process - Answer✔✔-The Order to Cash process is the heart of the
company's value chain and is typically the only time the customer directly interacts with
the organization.
Order to Cash Business Process - Answer✔✔-1. Market goods or services to
potential or returning customers (and/or perform support activities that help a customer
choose you as a vendor)
2. Negotiate the terms of an order for goods or services
3. Select and inspect goods to be delivered to the customer
4. Prepare goods or services for delivery to the customer
5. Deliver goods or services to the customer
6. Receive payment for goods or services from the customer
7. Negotiate the terms of, and possibly accept, a customer return of goods
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