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CIPS L4M5 exam is an essential certification for procurement professionals seeking to enhance their negotiation skills. It covers a range of topics, including negotiation planning, power and influence, communication skills, and conflict resolution, making it a practical and relevant qualification. L4M5 Exam is recognized globally as a standard of excellence in commercial negotiation, and it is a valuable certification for procurement professionals seeking to improve their career prospects and demonstrate their expertise to potential employers.
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CIPS L4M5 (Commercial Negotiation) Exam is a professional qualification designed for individuals who are interested in developing their skills and knowledge in commercial negotiation. L4M5 exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a leading global professional body for procurement and supply chain management. The CIPS L4M5 Exam is one of the most comprehensive and widely recognized qualifications in the field of commercial negotiation, and it covers a broad range of topics, including negotiation planning, techniques, strategies, and tactics.
NEW QUESTION # 255
Which of the following is the most appropriate approach to investors or shareholders who have high level of influence but low interest in the running of business?
Answer: D
Explanation:
Investors or shareholders who have high level of influence but low interest belong to 'Keep satisfied' quadrant of Mendelow's Stakeholder Matrix.
You may read 2 versions from L4M1 and L4M5 here:
Table Description automatically generated
LO 1, AC 1.1
NEW QUESTION # 256
What is the most likely outcome when two organisations with adversarial relationship negotiate with each other?
Answer: D
Explanation:
An adversarial relationship in purchasing and supply arises when identical or equivalent good or services are available from competing suppliers and buyers/sellers are trying to gain an advantage over each other. Low levels of trust are characteristic of adversarial relationships. The outcome when two organisations with adversarial negotiate is most likely to be win-lose.
NEW QUESTION # 257
Which of the following would cause a demand curve for a good to be price inelastic?
Answer: B
Explanation:
Explanation
Essential goods andservices such as electricity, fuel, basic food stuffs, commuter transport and habitual products such as tobacco, alcohol and sugar-based drinks are often sited as facing a relatively inelastic demand curve. This means when the price goes up, the quantity demanded does not decrease very much and so they are often the target of government taxation.
LO2, AC 2.2
NEW QUESTION # 258
A procurement team has discussed, in advance of a negotiation, what they will do if there is no agreement with the current supplier. They have decided that they will perform the services themselves in-house on a trial basis if no deal is made. Which of the following describes what they have prepared here?
Answer: C
NEW QUESTION # 259
Listening is a key activity in any negotiation. Which of the following are characteristics of effective listeners?
Answer: D
Explanation:
Reference: CIPS L4M5 Study Guide, Section 3.2 - The Negotiation Process
NEW QUESTION # 260
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