• What are external influences, and what effects can they exert on the procurement management process? Many external influences can impact the procurement management process. Government regulations, Economic conditions, Social media, and Industry trends.

• What mitigation strategies can be used to mitigate these effects?

Several mitigation strategies can be used to mitigate the effects of external influences on the procurement management process.Some of these strategies include planning, communication, flexibility, and risk management.

• Use specific business examples to illustrate your explanations.

A specific business example of the effects of an external influence on the procurement management process is the Brexit referendum in the United Kingdom. Before the referendum, the UK was part of the European Union (EU), which had several procurement regulations that applied to businesses operating in the country. However, after the referendum, the UK voted to leave the EU, which meant that these regulations no longer applied. This had several implications for businesses operating in the UK, including the fact that they no longer had to comply with EU procurement regulations. This created a more competitive environment for businesses operating in the UK as they no longer had to adhere to the same rules and regulations as their EU counterparts.

1. what process would you recommend to ensure that the most appropriate mitigation strategies are being utilized for the appropriate external influence?

2. if a mitigation strategy requires funding, where would this funding come from?