VALID EXAM L4M5 PREPARATION, L4M5 TEST CENTRES

Valid Exam L4M5 Preparation, L4M5 Test Centres

Valid Exam L4M5 Preparation, L4M5 Test Centres

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CIPS Commercial Negotiation Sample Questions (Q165-Q170):

NEW QUESTION # 165
Which of the following can be prepared before a negotiation with a supplier to achieve an agreement to benefit both parties?
Zone of potential agreement
Attendee list for the negotiation talks
Walk-away point
Venue for the negotiation talks

  • A. 1 and 2
  • B. 2 and 3
  • C. 1 and 3
  • D. 3 and 4

Answer: C

Explanation:
Zone of Potential Agreement (1) and Walk-away point (3) are key elements in negotiation planning.
Establishing a Zone of Potential Agreement helps identify where interests align, while the Walk-away point sets the limit of acceptable terms. Both are essential to preparing a negotiation framework that benefits both parties, as per CIPS best practices.


NEW QUESTION # 166
A good negotiator invests time in understanding the needs of the individuals in a negotiation. Is this statement true?

  • A. No, because negotiator should attempt to satisfy the needs of the other organisation only
  • B. No, because satisfying individual needs will lead to conflict of interest and unethical practices
  • C. Yes, because individuals' needs always unify with their own organisation's needs and wants
  • D. Yes, because individual needs largely influence the outcomes of the negotiation

Answer: D

Explanation:
:
Skilled negotiators seek to understand the needs of the other parties, as well as their own. In doing so, it allows them to determine a strategy that their own needs are met. Failing to understand the other party's needs is one of the most common reason for an unsuccessful negotiation. In the commercial negotiation, procurement team does not negotiate with organisation, they negotiate with individuals. It is therefore important to recognise that there are two levels of needs:
The organisation - What the organisation wants to achieve. This is generally well stated and understood The individual - what is in it for the individual? This is generally not stated, rarely discussed, but very motivational. It is vitally important therefore that time is invested in understanding the needs of the individual Skilled negotiators are aware of the needs that occur at both levels, and develop creative options and strategies that attempt to satisfy these needs.


NEW QUESTION # 167
Which of thefollowing should be the final step of a negotiation process if both parties cannot reach an agreement?

  • A. Asking TOP for another concession
  • B. Reflecting on performance
  • C. Celebrating publicly about the deal
  • D. Tempting TOP to reopen the negotiation

Answer: B

Explanation:
Explanation
Reflecting on performance should become a natural final step in the negotiation process.
'Celebrating publicly about the deal': Public gloating, even in success or failure, if it gets back to the supplier via the press or social media, will likely damage the relationship
'Tempting TOP to reopen the negotiation': whether TOP agrees to reopen the negotiation, procurement should reflect on their achievement and what can be improved.
'Asking TOP for another concession': TOP can agree or rejectthis concession. Eventually, reflecting should be the final step. Procurement can learn a lot from reflection on performance.
LO 3, AC 3.4


NEW QUESTION # 168
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?

  • A. The buyer's spend takes up a small proportion of supplier revenue
  • B. The buyer demand is so urgent that it can't be postponed
  • C. The buyer is large in size relative to its suppliers
  • D. The buyer does not have the option to move to an alternative supplier

Answer: C

Explanation:
:
Buyer power gives customers/consumers (buyers) the ability to squeeze industry margins by pressuring firms (the suppliers) to reduce prices or increase the quality of services or products offered.
There are four major factors to consider when determining the bargaining power of buyers:
1. Number of buyers relative to suppliers: If the number of buyers is small relative to that of suppliers, the buyer's power will be stronger.
2. Dependence of a buyer's purchase on a particular supplier: If a buyer is able to get similar products
/services from other suppliers, buyers depend less on a particular supplier. Therefore, the power of the buyer would be greater.
3. Switching costs: If there are not many alternative suppliers available, the cost of switching is high.
Therefore, buyer power would be low.
4. Backward Integration: If the buyer is able to integrate or merge suppliers, the buyer has greater bargaining power over the existing suppliers.
When is Bargaining Power of Buyers High/Strong?
There are fewer buyers relative to that of suppliers
The switching costs of the buyer are low
If the buyer is able to backward integrate
The buyer purchases product in bulk (high volume)
The buyer is able to get similar product/services from other suppliers
The buyer purchases the majority of the seller's products
Several substitutes are available on the market
Product is not differentiated


NEW QUESTION # 169
Which of the following are macroeconomic factors that may have influence to the commercial negotiation?
Select TWO that apply

  • A. Bargaining power of supplier
  • B. Unemployment rate
  • C. Supply curve
  • D. Equilibrium price
  • E. Rising import tariffs

Answer: B,E

Explanation:
Explanation
There are many macro economic factors that could influence procurement in general andcommercial negotiation in particular. Below are six factors that are agreed to be fairly significant:
* Economy growth rate
* Inflation rates
* Interest rates
* Currency exchange rate
* Unemployment rate
* Protectionism
LO 2, AC 2.2


NEW QUESTION # 170
......

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