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Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer?.

Solutions for Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.

Here you can find the meaning of Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following situation and choose the best possible alternative.Your company has entered into a 5-year contract with a major supplier. The contract has 2 years remaining on its term but the supplier has now asked you to renegotiate the price of the contract because his labour and fuel costs have risen more than expected. If you agree to a price increase, it will have a substantial negative impact on your profitability.Q. What would you do?a)I will negotiate the price and try to limit the increase to a minimum so that my companys profitability is notsignificantly affected.b)Iwill refuse to negotiate the price and hold the supplier liable to breach of contract if supplies are affected.c)l will increase the price, on the condition that there would be no further increase granted during the contract period.d)Iwill refuse to negotiate the price, sue the supplier for breach of contract and blacklist the supplier.e)Iwill discontinue the supplier and develop new suppliers.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CAT tests.