Reference no: EM132095457

The Federal Acquisition Regulation (FAR)

Part 1 Federal Acquisition Regulations System

Part 2 Definitions of Words and Terms

Part 3 Improper Business Practices and Personal Conflict of Interest

Learning Activity #1

Imagine for a moment that there were fewer rules and regulations as related to federal purchasing. Yes, the issue arises all the time, especially after election years.

So, let's imagine that Congress decided to get rid of some of these regulations and to "open up" the federal market place to more potential contractors.

Based on what you know from your experience, would that be a good idea? Are there too many regulations? Are there any regulations that you have encountered that you would agree should be eliminated? Perhaps you think that there should be more regulations so that "the big guys" can't dominate?

And if you are new to federal contracting, think about whether it is good idea (or a bad idea) for marketplaces to have rules and regulations. Some people advocate for more rules; others argue for fewer regulations. Can you identify any areas where you could argue one way or another?

Learning Activity #2

You have just discovered that the US Government could be a big buyer of your company's products. What are some of the first steps you need to do to tap this vast new, and potentially lucrative, market?