Describe the environment in which business operates

Your CEO wants to develop specific criteria to select vendors for office supplies, equipment, etc. and has asked you to investigate selection criteria. In a two page business memo:Explain why a selection criteria is neededRecommend specific criteria (no less than 5 elements)Explain why each element in the list is neededTo strengthen your recommendation, include an example of a company (one that is operating now – not a future one) and its criteria.InstructionsUse the attached memo template.Support your memo with 2 to 3 credible references beyond the course materials. Please note: Wikipedia, Investopedia and similar websites are not credible academic references. The best place to locate credible references is the Online Library.