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| Section | Objectives |
|---|---|
| Topic 1: Negotiation planning and preparation | - Preparation techniques
|
| Topic 2: Power, ethics and communication in negotiation | - Influencing factors
|
| Topic 3: Negotiation fundamentals | - Principles of commercial negotiation
|
| Topic 4: Negotiation strategies and tactics | - Approaches to negotiation
|
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NEW QUESTION # 64
Rose is a senior buyer from a skiing equipment retailer. Rose is concerned about the current ski boot shortage and the number of invoicing problems from a key supplier. She has decided to have a video conference with Victor, CEO of the supplier. Initially, she intends to threaten Victor with contract termination unless he can improve the situation. However, she is a little wary of doing this as the switching costs are high. Eventually, she decides to seek solutions by encouraging the other party to offer their views and ideas. Rose also prepares some ideas to discuss with Victor. Which of the following is the persuasion method that Rose intends to use in the forthcoming conference?
Answer: D
Explanation:
There are two major persuasion methods: 'push' and 'pull'.
Persuasion can be defined as encouraging someone to do something that you want them to do for you.
Persuasion is reasoning with someone so that they will believe or do something they might not otherwise do.
Persuasion can be considered as 'pushing' on TOP so that they can accept the change in attitude or behaviour as a result of your actions.
Influence is the ability to affect the manner of thinking of another. Influence can be considered as pulling on TOP so that you achieve the same result, but TOP feels they have changed their attitude or behaviour as a result of their reflection and thinking, and not your direct actions.
There are multiple variables to consider when choosing between 'push' and 'pull'. Professor Fiona Dent of Ashridge Business School proposes situations when each style might be most appropriate, breaking down push into 'directive' and 'reasoning' and 'pull' into 'collaborative' and 'visionary':
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In the scenario, Rose intends to let both parties exchange their views and ideas so that solutions to current problems can be found. This is the typical characteristic of collaborative (pull) method.
NEW QUESTION # 65
In what circumstances is the bargaining power of suppliers likely to be high, in relation to buyer power?
Select the THREE that apply:
Answer: C,D,E
Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis
NEW QUESTION # 66
XYZ Ltd is importing goods from overseas. They prefer to pay theirsupplier in their own currency. Which of the following is a true statement?
Answer: C
Explanation:
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 # 67
Champion Toys (CT) is negotiating a large order with Top Teds. CT has identified lead times, order quantities, and delivery locations as tradeables. At which negotiation stage should CT introduce these tradeables?
Answer: C
Explanation:
Tradeables-variables such as price, delivery, quality, and payment terms-are introduced in the bargaining stage of negotiations. This is the phase where both parties test positions, make concessions, and trade issues to create acceptable packages. Proposing and opening are earlier stages focused on setting out agendas and clarifying needs, while closure comes after tradeables are resolved. Introducing tradeables too early can weaken leverage, and leaving them too late risks deadlock. Bargaining ensures the structured exchange of concessions while protecting the overall bargaining mix.
Reference: CIPS L4M5 (2nd ed.), LO 1.1 - Negotiation stages, bargaining as the point for tradeables.
NEW QUESTION # 68
In general, which of the following is the consequence of a flatter demand curve?
Answer: A
Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor.
In microeconomic graphs, elasticity and inelasticity can be shown by the slope of the demand curve. If a demand curve is almost horizontal, then the product pricing can be described as very elastic. If a demand curve is almost vertical, then the product pricing can be described as very inelastic.
The formulae of elasticity:
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Table Description automatically generated with medium confidence
LO 2, AC 2.2
NEW QUESTION # 69
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