Governance consists of individuals or organizations that must approve acquisition strategies. True or False?

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Governance in the context of acquisition strategies indeed involves specific individuals or organizations responsible for oversight and approval of those strategies. This encompasses a range of stakeholders, potentially including senior management, procurement officials, policy committees, and other relevant authorities who ensure that the acquisition aligns with organizational goals, regulatory frameworks, and ethical standards.

The presence of a governance structure is crucial for ensuring accountability and transparency in public and private sector acquisitions. This structured approval process helps mitigate risks, enhances decision-making, and promotes collaboration among different functional areas involved in the acquisition process. By requiring formal approval, governance promotes adherence to established policies and procedures, ensuring a controlled and compliant approach to acquiring goods and services.

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