World Vision Interview Questions, Process, and Tips

Procurement refers to the process of acquiring goods or services from external sources.

• Procurement involves identifying the need for a product or service

• It also involves selecting the right supplier or vendor

• Negotiating the terms and conditions of the purchase

• Placing the order and ensuring timely delivery

• Examples include purchasing raw materials for manufacturing, buying office supplies, or outsourcing IT services

Supply chain is the process of managing the flow of goods and services from the point of origin to the point of consumption.

• It involves the coordination and integration of various activities such as procurement, production, transportation, warehousing, and distribution.

• Effective supply chain management can lead to increased efficiency, reduced costs, and improved customer satisfaction.

• Examples include Amazon's delivery...read more

Logistics is a subset of supply chain management that deals with the physical movement of goods, while supply chain management encompasses the entire process from procurement to delivery.

• Logistics focuses on transportation, warehousing, and distribution of goods.

• Supply chain management includes logistics as well as procurement, planning, and coordination of activities across the entire supply chain.

• Logistics is more ta...read more

Accrual basis of accounting recognizes revenue and expenses when they are earned or incurred, regardless of when payment is received or made.

• Revenue is recognized when it is earned, not when payment is received

• Expenses are recognized when they are incurred, not when payment is made

• This method provides a more accurate picture of a company's financial health

• Example: A company provides services in December but doesn't rec...read more

A vendor can be identified through various methods such as referrals, online research, trade shows, and industry associations.

• Referrals from colleagues or industry contacts

• Online research through search engines and social media

• Attending trade shows and networking events

• Checking industry associations and directories

• Requesting vendor applications and conducting background checks

I can meet my targets by setting clear goals, creating a plan, tracking progress, and making adjustments as needed.

• Set specific and measurable goals

• Create a detailed plan with actionable steps

• Track progress regularly and make adjustments as needed

• Stay organized and prioritize tasks

• Collaborate with team members and seek feedback

• Continuously learn and improve skills

• Stay motivated and focused on the end goal

Seeking new challenges and growth opportunities

• Looking for a more challenging role

• Seeking career advancement

• Company restructuring resulted in job redundancy

• Desire to work in a different industry

• Relocation to a new city or country

Child labor persists due to poverty, lack of education, and weak enforcement of laws.

• Poverty forces families to rely on children for income

• Lack of education limits opportunities for children and perpetuates the cycle of poverty

• Weak enforcement of laws allows employers to exploit children for cheap labor

• Cultural attitudes towards child labor also play a role in its persistence

• International demand for cheap goods fuels t...read more

The balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position.

• Assets are listed first, followed by liabilities and equity.

• The balance sheet equation is Assets = Liabilities + Equity.

• It helps investors and creditors evaluate a company's financial health.

• Examples of assets include cash, inventory, and ...read more