Risk avoidance leads buyers to stay with the current vendor rather than switching.

Question

Quizplus · Accepted Answer

Risk avoidance is a natural human behavior that encourages individuals to stick with what is familiar or known rather than taking a chance with something new or unknown. In the context of procurement, buyers may opt to maintain their relationship with an existing vendor to avoid risks associated with selecting a new vendor. Hence, the statement is true.

Risk Avoidance Leads Buyers to Stay with the Current Vendor