Certification in Supplier Diversity Practice Exam

Which of the following is a step after selecting a protege firm?

1. Prepare a financial investment report

2. Submit a proposal to the government agency

3. Evaluate the mentor's experience

4. Conduct a market analysis

The correct answer is: Submit a proposal to the government agency

Submitting a proposal to the government agency is a logical step that typically follows the selection of a protege firm, especially in the context of supplier diversity initiatives. Once a mentor has identified a protege firm as a suitable partner for capacity building and support, the next step often involves formalizing this relationship through a proposal. This proposal outlines the objectives and intended benefits of the mentorship, aligning the mentor's resources and capabilities with the needs of the protege. The proposal is a critical document that not only serves to communicate the mentor's commitment to the protege but also seeks approval or securing of support from the government agency or other stakeholders involved in the supplier diversity program. It lays the groundwork for collaborative projects and funding opportunities that can arise from the partnership. While other answers may relate to the operational or administrative aspects of working with a protege firm, they do not represent the immediate next step in formalizing the mentorship relationship. For instance, preparing financial investment reports and evaluating the mentor's experience are tasks that may occur throughout the mentorship relationship rather than directly after the selection of a protege firm. Conducting a market analysis, while important for strategic planning, would generally precede the selection of a protege rather than follow it.