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CIPS L4M5 Exam Syllabus Topics:

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

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CIPS Commercial Negotiation Sample Questions (Q253-Q258):

NEW QUESTION # 253
Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply.

Answer: B,E

Explanation:
:
Giving positive group and individual feedback is easy, as is self-congratulation and, in many cases, it is hoped, this will be an accurate reflection on actual performance. When it comes to developmental or difficult feedback, it is only natural to want to move on and not reflect on the negative or developmental points, or why a negotiation did not achieve its objectives. But this is a mistake. The best learning opportunities come from reflection on what could be done better, and this can be achieved without blame, threat or condemnation.
Everyone and every team will make mistakes and/or have areas where they could have improved. Clearly, if every reflection session concludes that an individual or team keeps making the same mistake, then there is a case to change roles or consider alternative approaches.
About Dos and Don'ts of reflection, you can refer here: https://offices.depaul.edu/human-resources/employee- relations/Documents/Self%20Assesement.pdf


NEW QUESTION # 254
Where a market consists of a large producer of a product with high market power, it is known as:

Answer: A


NEW QUESTION # 255
Which of the following roles would support negotiations with an external supplier when planning a negotiation for a low-value, routine purchase? Select TWO that apply.

Answer: C,D

Explanation:
For low-value, routine purchases, the involvement of The procurement manager (C) and An internal business user (E) is appropriate. The procurement manager brings expertise in supplier engagement, while the internal business user provides insights on specific needs for the product or service. Involving high-level roles, like the CEO or a legal advisor, is unnecessary for routine purchases, as per CIPS guidance on resource alignment in procurement.


NEW QUESTION # 256
There are many factors which will influence supplier pricing decisions. Which of the following are external factors that may apply? Select THREE that apply:

Answer: A,B,D


NEW QUESTION # 257
Ranjit is a facilities category buyer for a hospital in the UK and is managing an overseas sourcing project for security guard clothing and personal protective equipment. Ranjit is aware that foreign exchange fluctuations can create risk for his organisation and would like to remove this risk. Ranjit has asked the international suppliers to quote in GBP sterling. Will Ranjit's approach remove the fluctuation risk for the hospital?

Answer: B

Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis


NEW QUESTION # 258
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