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| Section | Objectives |
|---|---|
| Negotiation fundamentals | - Principles of commercial negotiation
|
| Negotiation strategies and tactics | - Approaches to negotiation
|
| Power, ethics and communication in negotiation | - Influencing factors
|
| Negotiation planning and preparation | - Preparation techniques
|
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NEW QUESTION # 385
Should a buyer use closed questions in a negotiation?
Answer: C
Explanation:
:
Asking questions the right way is both an art and a science. Ask the question the wrong way, and the other negotiator might act like a turtle, becoming defensive and withdrawing into their shell. Ask the question the right way, and the other negotiator might "spill the beans.".
Closed Questions: How and when to use them?
Closed questions are those that require a short and focused answer, and are especially helpful in the beginning stages of the negotiation to encourage interaction. They can be used to clarify a point, or to reconfirm certain facts. For example, you can use a closed question to confirm the amount of units the company can produce in a week, or to clarify that what they are really saying is that they don't feel comfortable outsourcing their accounts to India. Most closed questions only require a simple "yes" or "no" response, so there really isn't much room for misinterpretation - great for finding out where both you and they stand.
NEW QUESTION # 386
A senior buyer analyses the supply market and he realises that his organisation is treated as Exploit according to supplier's perspective model. What does he need to do?
Answer: A
Explanation:
The supplier's perspective model has two axes: Spend value and Attractiveness:
Chart, table Description automatically generated
Exploit is the quadrant where the buyer has high spend but low attractiveness. Overarching supplier objective would be: "Milk this customer and charge a high price to compensate for all the pain they put us through".
The buyer should increase its attractiveness to raise the position to Core customer. To do this, a buyer may:
- Simplify procurement processes
- Simplify contracting processes
- Use clear and concise documentation
- Eliminate onerous supplier terms and conditions
- Make the payment on time
- Use transparent processes
- Promote ethical behaviours
LO 1, AC 1.4
NEW QUESTION # 387
If the price of a good is above the equilibrium price, which of the following will happen?
Answer: B
Explanation:
In microeconomics, equilibrium price is determined when the quantity demanded is equal to the quantity supplied at equilibrium price in a market, there will be no shortages and no surpluses. If we combine our supply and demand curves on one graph, the point at which they converge determines the equilibrium price. If the price is set above this price and you read across the graph you will see the supply excess demand and there will be a surplus. In order to reduce this surplus, the price will need to fall. The scenario is illustrated in the graph below:
Chart, line chart Description automatically generated
NEW QUESTION # 388
Lina Rawlins, a senior buyer, asks a supplier: "Can you tell me exactly what you are doing to ensure quality?" What type of question is this?
Answer: C
Explanation:
A probing question seeks deeper information, clarifying specifics beyond surface-level responses. Lina's question is factual, detailed, and investigative - designed to uncover processes and commitments.
Hypothetical questions test options ("what if..."), reflective restate or summarise to confirm understanding, and leading steer the respondent toward a desired answer. Probing is essential in negotiations to validate claims, identify risks, and build persuasive arguments.
Reference: CIPS L4M5 (2nd ed.), LO 3.2 - Questioning techniques: probing, hypothetical, leading, reflective.
NEW QUESTION # 389
Hammad Alsuwaidi is a procurement professional leading a negotiation for a vehicle rental contract. Hammad has a clear goal to negotiate a two-year contract in exchange for a minimum of a 20% discount. During the negotiation, Hammad presents to the supplier the facts, figures, and justification for a 20% discount. Which of the persuasion methods below has Hammad chosen?
Answer: A
Explanation:
Hammad's approach of presenting facts, figures, and justifications aligns with the Push persuasion method.
The Push strategy involves directly presenting information, data, and logical arguments to convince the other party of a certain outcome. In this scenario, Hammad is using objective evidence to influence the supplier towards agreeing to a discount, which is characteristic of the Push method, as per CIPS guidance on negotiation tactics.
NEW QUESTION # 390
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