How Do Government Purchases Differ from the Purchases Made by Institutional

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The Answer is Governments make much larger purchases, and their buying processes must not only satisfy strict policy guidelines and directives set by the government, but also meet international trade rules set by the World Trade Organization (WTO)or the North American Free Trade Agreement (NAFTA).Additionally, government purchases are subject to public scrutiny and can be subjected to legal challenges or be cancelled or modified.Governments consider a wide range of factors in their purchases and may not always purchase from the vendor with the lowest price.
Institutional buyers, on the other hand, tend to have relatively small budgets and therefore seek the best value when buying products and services for their organizations.That is, if two suppliers are offering roughly similar products, they may opt for the supplier with the lower price.Institutional organizations are not under public scrutiny and rarely disclose their purchase decisions and practices, although they may try to make their buying processes transparent.

How Do Government Purchases Differ from the Purchases Made by Institutional

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How Do Government Purchases Differ from the Purchases Made by Institutional

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Correct Answer:VerifiedShow Answer

Correct Answer:
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