Latest Updated CIPS New APP L4M5 Simulations - L4M5 Commercial Negotiation Reliable Study Guide

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CIPS L4M5 Exam Syllabus Topics:

SectionObjectives
Understand the interpersonal skills required for effective negotiation- Analyze the interpersonal skills required for effective negotiation
  • 1. Assertiveness
  • 2. Body language and non-verbal communication
  • 3. Influencing and persuasion skills
  • 4. Questioning and listening skills
- Understand the behavioral aspects of negotiation
  • 1. Conflict handling styles
  • 2. Perception and bias
  • 3. Concessions and trade-offs
  • 4. Ethical and unethical practices
Understand the stages of commercial negotiations in procurement and supply- Analyze the types of approaches that can be pursued in commercial negotiations
  • 1. Integrative (win-win) approaches
  • 2. Pragmatic and principled approaches
  • 3. The influence of power and trust in negotiations
  • 4. Distributive (win-lose) approaches
- Understand the stages of a commercial negotiation
  • 1. Clarification and justification
  • 2. Preparation and planning
  • 3. Closure and agreement implementation
  • 4. Defining the ground rules
  • 5. Bargaining and problem solving
Understand how to prepare for negotiations in procurement and supply- Analyze the factors that impact on the approach to commercial negotiations
  • 1. The impact of time limits and deadlines
  • 2. Ownership and stakeholder perspectives
  • 3. The position of buyers and sellers
  • 4. Policies, procedures and protocols
- Understand how to prepare for a negotiation
  • 1. Defining objectives and variables
  • 2. Zones of potential agreement (ZOPA)
  • 3. The best alternatives to a negotiated agreement (BATNA)
  • 4. The use of bargaining mixes and trade-offs

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CIPS Commercial Negotiation Sample Questions (Q263-Q268):

NEW QUESTION # 263
Using emotion as a technique of persuasion is ethical. Is this a true statement?

Answer: B


NEW QUESTION # 264
Which of the following are behaviours that builds trust between the buyer and the supplier in business relationship? Select TWO that apply.

Answer: C,E

Explanation:
Trust-building behaviours are as following:
Joint-effort issue resolution
Open sharing of information
Open and honest discussion on root cause of failures
Joint planning focusing on value for money and risk sharing
Commercial transparency and co-proposition of cost reduction and service improvement programmes Joint recognition and celebration of successes


NEW QUESTION # 265
When prices of input materials increase, supply curve shifts to the left while demand remains stable. The shift of supply will tend to cause which of the following?

Answer: A

Explanation:
:
The case in the question is illustrated as below:
Diagram Description automatically generated

The equilibrium price initially at P0 with quantity Q0, when supply curve shifts to the left, it will converge with demand curve at new equilibrium point with price P1 and quantity Q1. As you can see from the graph, P1 is greater than P0 and Q1 is smaller than Q0.


NEW QUESTION # 266
During a negotiation, a procurement manager suggests that the two companies should split the difference which would benefit both the supplier and buyer. Which persuasion method is she using?

Answer: C

Explanation:
In the scenario, the manager propose to 'split the difference', which means each party will accept some of their demands and concede some. This is known as 'Compromise'.
Reference: CIPS study guide page 163-165


NEW QUESTION # 267
Which of the following is the area where two or more negotiating parties may find common ground?

Answer: C

Explanation:
The zone of possible agreement (ZOPA) or bargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party's ideas.
The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.
There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.
Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed.
LO 1, AC 1.2


NEW QUESTION # 268
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