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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Sources of power and influence
  • 2. Impact of power balance on outcomes
  • 3. Relationship types and their effect on negotiation
- Types of negotiation approaches
  • 1. Distributive / competitive (win-lose)
  • 2. Collaborative / integrative (win-win)
  • 3. Pragmatic and principled negotiation styles
  • 4. BATNA, target setting and reservation price
- Application of commercial negotiations in procurement and supply
  • 1. Position within the CIPS procurement cycle
  • 2. Definitions and purpose of commercial negotiation
  • 3. Sources and management of conflict
  • 4. Team and stakeholder management in negotiation
Topic 2: Understand how commercial negotiations should be undertaken30%- Tactics and influencing methods
  • 1. Cultural and ethical considerations
  • 2. Persuasion and influencing techniques
  • 3. Managing concessions and deadlocks
- Communication skills
  • 1. Active listening and questioning
  • 2. Non-verbal communication and emotional intelligence
- Review and improvement
  • 1. Documenting agreements and lessons learned
  • 2. Evaluating results and performance
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
Topic 3: Know how to prepare for negotiations with external organisations35%- Planning and resources
  • 1. Information gathering and market intelligence
  • 2. Team roles and preparation plans
- Cost and price analysis
  • 1. Cost modelling and price analysis techniques
  • 2. Types of costs and pricing structures
- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs
- Economic and market factors
  • 1. Inflation, exchange rates and risk factors
  • 2. Supply and demand conditions
  • 3. Market structure and competition

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CIPS Commercial Negotiation Sample Questions (Q194-Q199):

NEW QUESTION # 194
When developing a negotiation approach, according to recognised theory (for example, Mendelow), how should stakeholders with high interest but low power be managed?

Answer: C

Explanation:
According to Mendelow's Stakeholder Matrix, stakeholders with high interest but low power should be managed by keeping them informed. These stakeholders are invested in the outcome but lack the influence to change it, so keeping them updated helps in maintaining their support and managing expectations without intensive resources or prioritization. This approach aligns with CIPS guidance on stakeholder management in negotiation planning.


NEW QUESTION # 195
A supplier's mark-up on all products is 25%. Supplier's profit margin is...?

Answer: B

Explanation:
Table Description automatically generated with medium confidence

Text Description automatically generated with low confidence

LO 2, AC 2.1


NEW QUESTION # 196
Which of the following is a source of information on microeconomic factors?

Answer: B


NEW QUESTION # 197
Sumitomo Rubber Industries (SRI) is a Japan-based tyre manufacturer. In order to increase production, SRI is sourcing rubber from Southeast Asian firms. Which of the following micro factors are most likely to shift the balance of power to supplier? Select TWO that apply

Answer: A,E

Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical Micro level: Porter's five forces:

Diagram Description automatically generated
One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases supplier's bargaining power. Among 5 answers, only 2 are likely to increase buyer's power:
There are no close substitutes for rubber: the buyer has to buy rubber, not any other material.
Costs of changing suppliers are high: buyer entails a large barrier if they want to switch supplier.
Other answers cannot be correct because:
SRI sets up its own rubber plantation: Buyer secures its own supply
SRI's purchase amount makes significant proportion of supplier revenue: Suppliers are reliant on buyer. If the buyer stops buying from them, they can face serious cash flow problems Rubber from different suppliers is virtually similar: undifferentiated product would shift the power balance towards buyer.


NEW QUESTION # 198
Jessica Taylor, a senior buyer, is reflecting on her most recent negotiation. She has been asked by her manager to create a written record of performance.
Which of the following should Jessica include in this negotiation performance report? Select THREE that apply.

Answer: B,C,E

Explanation:
Post-negotiation analysis should include performance evaluation, learning outcomes, and a comparison of achieved results versus original objectives. These elements contribute to continuous improvement and future strategy development.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 4.3 - Post-Negotiation Review and Performance Reporting


NEW QUESTION # 199
......

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