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CIPS L4M5 Exam Syllabus Topics:

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

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CIPS Commercial Negotiation Sample Questions (Q341-Q346):

NEW QUESTION # 341
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

Answer: A

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.
Reference: CIPS study guide page 80-81
LO 2, AC 2.1


NEW QUESTION # 342
A procurement manager is preparing fora negotiation with an important supplier. He plans to withhold some crucial information so that his company gains the upper hand in the negotiation. Is this correct when considering using integrative approach to the negotiation?

Answer: D

Explanation:
Integrative negotiation is a negotiation strategy in which the involved parties work together to find a solution that satisfies the needs and concernsof each. This process often involves group brainstorming and creative thinking for individuals to suggest different ideas that benefit both parties.
Compromising is often common in integrative negotiation, and both sides may need to give up certain needs to reach a solution. Honesty can also promote successful integrative negotiation because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result.


NEW QUESTION # 343
All of the following shift the supply of watches to the right except...?

Answer: C

Explanation:
A supply curve will slope upward from left to right showing more supply at higher prices, as illustrated in the graph below:
A picture containing chart Description automatically generated

A movement along the supply curve will be brought about by a change in price, but a shift of the whole curve will be caused by a determinant other than price:
- The physical feasibility and time and energy required to produce the products
- Technology and innovation
- The objectives of the producers and their future expectations
- Prices of other goods and services
- Government's policies
LO 2, AC 2.2


NEW QUESTION # 344
Fast & Easy Limited, a global fast food retailer, is in a negotiation with its major meat supplier. The supplier is asking for a 2% price increase, which Fast & Easy is strongly resisting. The supplier justifies this increase by stating that currency fluctuations, an unstable economic climate, and rising transport costs have necessitated this increase. Which influencing tactic is the supplier using?

Answer: B

Explanation:
The supplier is using Rational persuasion by providing logical reasons, such as economic conditions and increased costs, to justify the price increase. This approach uses factual information to influence the buyer's decision, aiming to present the price hike as a reasonable adjustment, which aligns with CIPS strategies on influencing tactics in negotiations.


NEW QUESTION # 345
When is the best time in procurement process in which procurement should get involved so that the cost- saving opportunities are the greatest?

Answer: A

Explanation:
The earlier procurement get involved in the procurement processes, the better. If procurement are involved in design at the specification stage they can feed in prices and costs to designer so they know the likely budget implication of choices made. Sending in a procurement team to negotiate at or close to the end of the procurement process effectively ties their hands and limits their negotiation leverage. This is illustrated in the graph below:
Chart Description automatically generated

LO 2, AC 2.1


NEW QUESTION # 346
......

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