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I’m studying for my Business class and don’t understand how to answer this. Can

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I’m studying for my Business class and don’t understand how to answer this. Can you help me study?I’m working on a Business question and need guidance to help me study.INSTRUCTIONSLearning Objective: Describe the environment in which business operatesPrompt: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 needed
Recommend specific criteria (no less than 5 elements)
Explain why each element in the list is needed
To 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.
Requirements: .doc file | APA | Research Paper | 2 pages, Double spaced
Requirements: .doc file