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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Understand how commercial negotiations should be undertaken30%- 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
- Communication skills
  • 1. Active listening and questioning
  • 2. Non-verbal communication and emotional intelligence
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
Understand key approaches in the negotiation of commercial agreements with external organisations35%- Types of negotiation approaches
  • 1. Distributive / competitive (win-lose)
  • 2. Collaborative / integrative (win-win)
  • 3. BATNA, target setting and reservation price
  • 4. Pragmatic and principled negotiation styles
- 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. Relationship types and their effect on negotiation
  • 2. Sources of power and influence
  • 3. Impact of power balance on outcomes
Know how to prepare for negotiations with external organisations35%- Planning and resources
  • 1. Team roles and preparation plans
  • 2. Information gathering and market intelligence
- Cost and price analysis
  • 1. Types of costs and pricing structures
  • 2. Cost modelling and price analysis techniques
- Economic and market factors
  • 1. Supply and demand conditions
  • 2. Inflation, exchange rates and risk factors
  • 3. Market structure and competition
- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs

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CIPS Commercial Negotiation Sample Questions (Q223-Q228):

NEW QUESTION # 223
Under EU public procurement directives, which of the following are procedures in which there is no commercial negotiation allowed?

Answer: A,E

Explanation:
Explanation
Under the European Union public procurement directives, all public sector bodies must abide by certain rules when they procure goods and services over a threshold value. Theserules are codified under 5 procurement procedures:
1. Open Procedure
2. Restricted Procedure
3. Competitive Dialogue
4. Competitive Procedure with Negotiation
5. Innovation Partnerships.
Under normal circumstances, there is no commercialnegotiation allowed under the two most commonly used procedure, Open and Restricted. Under these procedures, the prices and terms and conditions of contract should be decided via reference only to the tenderers' responses to the buyer's requests for tenders, and not through 'post-tender negotiation'. Under the other procedure, negotiation within the rules is permitted.
Interested learners can read more about these procedures here.
LO 1, AC 1.1


NEW QUESTION # 224
A buyer is approaching a negotiation where the company is in a low-power negotiating position in relation to the supplier. How can the buyer improve leverage and power with the supplier?

Answer: A


NEW QUESTION # 225
Which of the following is definition of elasticity of demand in microeconomics?

Answer: B

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
Text Description automatically generated with low confidence


NEW QUESTION # 226
Which of the following should be done by the procurement team at the closing stage of a negotiation? Select TWO that apply.

Answer: A,B

Explanation:
Explanation
The agreement and closingphase is the phase when it is either clear through explicit language, or strongly suggested through non-verbal signals, that TOP is ready to move to agreement. Judging when to close can be difficult and as with phases of the negotiation, experience, observation, practice and reflection will be the best ways to learn here.
In the closing phase, procurement should:
- Watch for closing/buying signals
- Check to ensure all issues have been resolved
- Consider using visual aids to summarise
- Use 'summary close'
- Make a decision to conclude/close
- Seek agreement in principle if TOP does not have the final authority
- Make your own private notes on the final agreement
- Shake hands on the agreement
- Leave the meeting as soon as possible thereafter.
LO 3, AC 3.1


NEW QUESTION # 227
Understanding supplier's mark-up and margin can provide procurement professional a comprehensive insight into supplier's net profits. Is this statement true?

Answer: B

Explanation:
Explanation
Mark-up and margin allow supplier to make gross profit. Remember that every supplier operates under different cost structures and some are set up to be most profitableat a particular level of volume, so it is dangerous to assume all suppliers can survive on a lower margin if their volume increases. Intelligent buyers understand that mark-up and margin may define gross profits, but they tell you very little about a supplier's net profits.
LO 2, AC 2.1


NEW QUESTION # 228
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