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The CIPS L4M5 Certification Exam is one of the top-rated career advancement certifications in the market. With the Commercial Negotiation L4M5 certification exam everyone can validate their skills and knowledge after passing the L4M5 text. The CIPS Commercial Negotiation certification exam will recognize your expertise and knowledge in the market. You will get solid proof of your proven skill set. There are other countless benefits that you can gain after passing the CIPS Commercial Negotiation certification exam.
CIPS L4M5 certification exam consists of five units, each with its own specific learning outcomes. These units cover a range of topics, including the principles of negotiation, the negotiation process, the legal and ethical aspects of negotiation, and the importance of building long-term relationships with suppliers. The CIPS L4M5 Certification Exam is designed to provide professionals with a broad understanding of commercial negotiation and to equip them with the skills and knowledge needed to excel in their roles.
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CIPS L4M5 Exam is highly respected by employers and is recognized as a mark of excellence in the field of commercial negotiation. It is a valuable asset for procurement and supply chain professionals, as well as sales and marketing professionals who engage in negotiations on a regular basis. Commercial Negotiation certification also provides a pathway to further professional development, such as the CIPS L5M6 (Commercial Strategy and Contract Management) Certification Exam, which focuses on the strategic aspects of commercial negotiation.
NEW QUESTION # 167
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.
Answer: C,D
Explanation:
:
Activity-based costing is an alternative approach to traditional absorption costing. The characteristics of these two methods are illustrated in the graph below:
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NEW QUESTION # 168
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.
Answer: A,B,C
Explanation:
Explanation
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
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LO 1, AC 1.3
NEW QUESTION # 169
Which of the following are examples of non-verbal negotiation? Select THREE that apply.
Answer: A,B,C
Explanation:
Nonverbal communication is important because it gives us valuable information about a situation including how a person might be feeling, how someone receives information and how to approach a person or group of people.
There are several types of nonverbal communications you should be aware of, including:
1. Body language
Body language is the way someone situates their body naturally depending on the situation, the environment and how they are feeling.
Example: Someone might cross their arms if they are feeling angry or nervous.
2. Movement
The way you move your arms and legs such as walking quickly or slowly, standing, sitting or fidgeting, can all convey different messages to onlookers.
Example: Sitting still and paying attention in a meeting conveys respect and attention.
3. Posture
The way you sit or stand can also communicate your comfort level, professionalism and general disposition towards a person or conversation.
Example: Someone might slouch their shoulders if they feel tired, frustrated or disappointed.
4. Gestures
While gestures vary widely across communities, they are generally used both intentionally and unintentionally to convey information to others.
Example: Someone in the United States might display a "thumbs up" to communicate confirmation or that they feel positively about something.
5. Space
Creating or closing distance between yourself and the people around you can also convey messages about your comfort level, the importance of the conversation, your desire to support or connect with others and more.
Example: You might stand two to three feet away from a new contact to respect their boundaries.
6. Paralanguage:
Paralanguage includes the non-language elements of speech, such as your talking speed, pitch, intonation, volume and more.
Example: You might speak quickly if you are excited about something.
7. Facial expressions
One of the most common forms of nonverbal communication is facial expressions. Using the eyebrows, mouth, eyes and facial muscles to convey can be very effective when communicating both emotion and information.
Example: Someone might raise their eyebrows and open their eyes widely if they feel surprised.
8. Eye contact
Strategically using eye content (or lack of eye contact) is an extremely effective way to communicate your attention and interest.
Example: Looking away from someone and at the ground or your phone may convey disinterest or disrespect.
9. Touch
Some people also use touch as a form of communication. Most commonly, it is used to communicate support or comfort. This form of communication should be used sparingly and only when you know the receiving party is okay with it. It should never be used to convey anger, frustration or any other negative emotions.
Example: Placing your hand on a friend's shoulder may convey support or empathy.
Reference:
- CIPS study guide page 174-175
- Nonverbal Communication Skills: Definition and Examples
LO 3, AC 3.3
NEW QUESTION # 170
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: D
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 # 171
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply
Answer: B,C
Explanation:
Explanation
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:
Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer'spower:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correctbecause:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3
NEW QUESTION # 172
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