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| Section | Objectives |
|---|---|
| Topic 1: Negotiation planning and preparation | - Preparation techniques
|
| Topic 2: Negotiation fundamentals | - Principles of commercial negotiation
|
| Topic 3: Power, ethics and communication in negotiation | - Influencing factors
|
| Topic 4: Negotiation strategies and tactics | - Approaches to negotiation
|
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NEW QUESTION # 27
John Browne, a junior buyer for a corporation, is analysing the global supply market before undertaking negotiations and is wondering whether foreign exchange rates are important to factor into his research. Should John consider the foreign exchange rates?
Answer: A
Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis
NEW QUESTION # 28
Which of the following are most likely to be sources of conflict that can emerge from the content of commercial negotiations? Select TWO that apply.
Answer: B,E
Explanation:
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent position - the content of negotiation:
Table Description automatically generated
Cultural differences are the source of conflict in the process of negotiation.
Requisition is an internal document raised by user or store to communicate to procurement the need to buy the product or service specified. This is merely a internal document.
Framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
LO 1, AC 1.1
NEW QUESTION # 29
What are the potential sources of conflict between buyer and supplier? Select TWO.
Answer: A,B
Explanation:
Conflicts arise in procurement when risks, costs, or gains are not fairly shared, creating perceptions of exploitation. Another frequent source is late payment of supplier invoices, which damages trust and supplier cash flow. Scheduling or early involvement, by contrast, usually supports collaboration unless poorly managed. Conflict is natural in negotiations due to divergent interests, but recognising sources allows proactive management. Skilled negotiators use integrative approaches to turn potential conflict into opportunity, aligning incentives and ensuring fairness.
Reference: CIPS L4M5 (2nd ed.), LO 1.1 - Sources of conflict and approaches to resolution in commercial negotiations.
NEW QUESTION # 30
Which of thefollowing are signs indicating that TOP is using coercive power in commercial negotiation?
Select TWO that apply.
Answer: A,C
Explanation:
Coercive power comes from the belief that a person can punish other for non-compliance, and can be considered as the flip side of reward power. Coercive power rests in the individual's ability to change other people's behaviour through threat,intimidation, use of guilt, ability to embarrass or shame, or withdrawal of benefits,...
NEW QUESTION # 31
In airline industry, suppliers prefer to adopt dynamic pricing in order to constantly monitor and change their fares in response to market conditions. Dynamics pricing is based on which costing method?
Answer: A
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 # 32
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