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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Understand key approaches in the negotiation of commercial agreements with external organisations35%- Types of negotiation approaches
  • 1. Collaborative / integrative (win-win)
  • 2. Distributive / competitive (win-lose)
  • 3. Pragmatic and principled negotiation styles
  • 4. BATNA, target setting and reservation price
- Application of commercial negotiations in procurement and supply
  • 1. Sources and management of conflict
  • 2. Definitions and purpose of commercial negotiation
  • 3. Position within the CIPS procurement cycle
  • 4. Team and stakeholder management in negotiation
- 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
Topic 2: Know how to prepare for negotiations with external organisations35%- Economic and market factors
  • 1. Inflation, exchange rates and risk factors
  • 2. Market structure and competition
  • 3. Supply and demand conditions
- Planning and resources
  • 1. Information gathering and market intelligence
  • 2. Team roles and preparation plans
- Negotiation criteria and objectives
  • 1. Prioritising issues and trade-offs
  • 2. Defining measurable outcomes
- Cost and price analysis
  • 1. Cost modelling and price analysis techniques
  • 2. Types of costs and pricing structures
Topic 3: Understand how commercial negotiations should be undertaken30%- Review and improvement
  • 1. Documenting agreements and lessons learned
  • 2. Evaluating results and performance
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- 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

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CIPS Commercial Negotiation Sample Questions (Q57-Q62):

NEW QUESTION # 57
Which of the following is an example of non-verbal communication?

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 3.2 - The Negotiation Process


NEW QUESTION # 58
In a negotiation for a new contract, the supplier suggests the buyer to shorten payment period from 45 days to
15 days because they are investing in new facilities to expand the supply capacity. The buyer replies that she can only sign off the deal if the payment period is 30 days or more since it often takes at least 30 days for her company to collect the payment from customers. A permission from senior management is required for this suggestion. In order to ensure that supplier understands the matter, she reiterates it throughout the meeting.
Which tactics is she using?
1. Outrageous initial demand
2. Salami slicing
3. Lack of authority
4. Broken record

Answer: D

Explanation:
:
In the scenario, the buyer states that permission from senior management is required to shorten payment period and she only has authority to sign off a deal in which the payment period lasts at least 30 days. The buyer is using lack of authority. The buyer also repeats the matter again throughout the negotiation. This is a common tactic known as broken record.


NEW QUESTION # 59
In airline industry, suppliers prefer to adopt dynamic pricing in order to constantly monitor and change their fares inresponse to market conditions. Dynamics pricing is based on which costing method?

Answer: C

Explanation:
Dynamic pricing is the practice of dynamically calculating the price of a product or service in order to incorporate real-time market conditions, input costs, and/or competitive perspectives. Dynamic pricing which is based on marginal costing, is used by airlines and many other organisations.
Marginal cost is the cost of producing an additional unit of output. Marginal Costing is a costing technique wherein the marginal cost, i.e. variable cost is charged to units of cost, while the fixed cost for the period is completely written off against the contribution.


NEW QUESTION # 60
Which of the following are intangible values created by trust in business relationships? Select TWO that apply.

Answer: B,E

Explanation:
Explanation
Trust may create value as following:
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LO 1, AC 1.4


NEW QUESTION # 61
Which of the following is a disadvantage of absorption costing method?

Answer: B

Explanation:
Absorption costing is an approach to allocating overheads in which indirect costs are loaded or absorbed into direct costs related to specific jobs, processes or outputs, using an estimated basis of allocation.
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NEW QUESTION # 62
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