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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Know how to prepare for negotiations with external organisations35%- 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. Prioritising issues and trade-offs
  • 2. Defining measurable outcomes
- Cost and price analysis
  • 1. Types of costs and pricing structures
  • 2. Cost modelling and price analysis techniques
- Planning and resources
  • 1. Information gathering and market intelligence
  • 2. Team roles and preparation plans
Understand key approaches in the negotiation of commercial agreements with external organisations35%- Application of commercial negotiations in procurement and supply
  • 1. Position within the CIPS procurement cycle
  • 2. Sources and management of conflict
  • 3. Team and stakeholder management in negotiation
  • 4. Definitions and purpose of commercial negotiation
- Types of negotiation approaches
  • 1. BATNA, target setting and reservation price
  • 2. Distributive / competitive (win-lose)
  • 3. Pragmatic and principled negotiation styles
  • 4. Collaborative / integrative (win-win)
- 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
Understand how commercial negotiations should be undertaken30%- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Tactics and influencing methods
  • 1. Cultural and ethical considerations
  • 2. Managing concessions and deadlocks
  • 3. Persuasion and influencing techniques
- Review and improvement
  • 1. Documenting agreements and lessons learned
  • 2. Evaluating results and performance
- Communication skills
  • 1. Active listening and questioning
  • 2. Non-verbal communication and emotional intelligence

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CIPS Commercial Negotiation Sample Questions (Q55-Q60):

NEW QUESTION # 55
A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?

Answer: B

Explanation:
With non-critical commodity products, the relationship will be transactional. Buyer should not spend too much time and effort into the negotiation.
LO 1, AC 1.4


NEW QUESTION # 56
XYZ Ltd is importing goods from overseas. They prefer to pay their supplier in their own currency. Which of the following is a true statement?

Answer: A

Explanation:
The effect of a change of relative exchange rates will be determined by which currency you pay your supplier in.
Table Description automatically generated

LO 2, AC 2.2


NEW QUESTION # 57
In order to mitigate all risks involved in the negotiation process, the buyer only needs to undertake pre- negotiation research on the supply market and establish a BATNA. Is this a correct suggestion?

Answer: C


NEW QUESTION # 58
According to Fiona Dent and Mike Brent, which of the following are characteristics of Push approach? Select TWO that apply.

Answer: C,D

Explanation:
According to the book 'Influencing: Skills and techniques for business success' by Fiona Dent and Mike Brent, there are two major influencing styles. Push tends to be directive. It tells, and is clear and resolute, but needs to be employed in situations where firmness is required because of difficulties that exist or weakness is evident. Pull is more participatory and collaborative. It seeks to incorporate everyone's perspective. It can appear wishy-washy if not skilfully employed. Thatapproach should be followed which is most likely to secure commitment and not mere compliance.
The two divisions can be further divided into four style categories: directive; persuasive reasoning; collaborative - team oriented, people oriented to inspire them with a vision. The directive style relies on your expertise and reputation being respected by others, and where there really does seem to be one answer. It is
"I" driven whereas persuasive reasoning is more "we" and issue driven. Directive styles can make the user appear as "a bull in a china shop"; persuasive reasoning can be portrayed as tough guy.
Collaborative influencing takes the "we" element further and seeks to mobilise everyone's ideas in a journey of discovery. It may have the flavour of "I'm your best friend", which may not go down too well. Visioning style is concerned to stir people's emotions in support of achieving an objective. This last one has been used by demagogues to stir people's hearts and minds for evil purposes as well as good.
A useful table offers the benefits, problems, words and body language associated with each style along with advice on when to use and when to avoid each. Cases and exercises illustrate these styles.
Empathy comes in for extended treatment with the definition of "standing in the other's shoes". This does not necessarily happen just intuitively, and therefore before a specific influencing effort there should be an intense effort to think about the other person or persons and to sense what it might feel like to be them - their hopes, fears, concerns, what turns them on, what turns them off, where are they coming from.
Reference:
Influencing by Fiona Elsa Dent and Mike Brent, 2006 (bd-cons.com)
CIPS study guide page 163-165


NEW QUESTION # 59
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.

Answer: B,E

Explanation:
:
Activity-based costing is an alternative approach to traditional absorption costing. The characteristics of these two methods are illustrated in the graph below:
Graphical user interface, text, chat or text message, website Description automatically generated


NEW QUESTION # 60
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