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CIPS L4M5 Exam Syllabus Topics:

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

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CIPS Commercial Negotiation Sample Questions (Q298-Q303):

NEW QUESTION # 298
A senior buyer analyses the supply market and he realises that his organisation is treated asExploit according to supplier's perspective model. What does he need to do?

Answer: B

Explanation:
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 painthey 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
- Eliminateonerous supplier terms and conditions
- Make the payment on time
- Use transparent processes
- Promote ethical behaviours
LO 1, AC 1.4


NEW QUESTION # 299
Where can we find the data on macroeconomics?
1. From trade journal
2. From supplier's marketing catalogue
3. From stock exchange market
4. From government's statistics

Answer: B

Explanation:
Explanation
Macroeconomic indicators are statistics or data readings that reflect the economic circumstances of a particular country, region or sector. They are used by analysts and governments to assess the current and future health of the economy and financial markets.
Macroeconomic indicators will vary in their meaning and the impact that they have on the economy, but broadly speaking there are two main types of indicator.
- Leading indicators, which forecast where an economy might be heading. They are often used by governments to implement policies because they represent the first phase of a new economic cycle. These include the yield curve, interest rates and share prices.
- Lagging indicators, which reflect an economy's historical performance and only change after a trend has been established. They are used to confirm a trend is underway. These include gross domestic product (GDP), inflation and employment figures.
There is also the category of coincident indicators, but these are generally grouped in with lagging indicators as they either happen at the same time or after an economic shift.
The best macroeconomic indicator to watch will heavily depend on your personal preferences, what positions you are taking and which country your portfolio is focused on. However, there are some very common indicators that most traders and investors will keep an eye on.
For simplicity's sake, we have split these out into leading and lagging indicators.
Top leading indicators:
1. The stock market
2. House prices
3. Bond yields
4. Production and manufacturing statistics
5. Retail sales
6. Interest rates
Top laggingindicators:
1. GDP growth rates
2. The Consumer Price Index (CPI) and inflation
3. Currency strength and stability
4. Labour market statistics
5. Commodity prices
A procurement professional may find stock market data from the security exchange, whilemost lagging indicators (such as GDP, CPI, unemployment rate, currency and inflation rate, etc) can be found from government statistics data.


NEW QUESTION # 300
Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply.

Answer: B,C

Explanation:
Professional buyers, when planning or engaging in negotiation with suppliers, should always be aware of where the intended and actual relationship with this supplier is positioned on the 'spectrum' or 'continuum' of commercial relationships. The relationship spectrum describes the range of commercial relationships between a buyer and supplier based on richness of communication, longevity and mutual dependence.
Timeline Description automatically generated

In the question, the contract is simple one-off (or spot buy), which means the relationship will likely to be more transactional. In such relationship, price is the most important criteria and buyer may adopt arm's-length approach.


NEW QUESTION # 301
Which of the following are indicative behaviours of a distributive approach to negotiating?

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.2 - Approaches to Negotiation


NEW QUESTION # 302
Which type of question should be used to receive affirmation on statement?

Answer: B

Explanation:
:
Different questioning styles can be used to elicit desired responses:
Text Description automatically generated


NEW QUESTION # 303
......

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