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CIPS L4M5 certification program is an excellent opportunity for professionals who want to enhance their negotiation skills and advance their careers in procurement and supply chain management. The program is highly regarded in the industry and provides individuals with the knowledge and skills needed to negotiate effectively in commercial environments. The CIPS L4M5 certification exam is a challenging but rewarding experience that can help professionals stand out in a competitive job market.

CIPS L4M5 certification exam is an excellent opportunity for individuals to enhance their knowledge and skills in commercial negotiation. Whether you are looking to advance your career or simply improve your negotiating abilities, this certification exam can provide you with the tools and knowledge you need to succeed.

Another benefit of the CIPS L4M5 Exam is that it is highly respected within the procurement profession. The Chartered Institute of Procurement and Supply (CIPS) is a globally recognized professional body, and the CIPS L4M5 Exam is widely recognized as a benchmark qualification for procurement professionals. Achieving this qualification demonstrates a commitment to professional development and a willingness to enhance negotiation skills, which can help to open up new career opportunities and increase earning potential.

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Related L4M5 Certifications Exam | CIPS L4M5: Commercial Negotiation – 100% free

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CIPS Commercial Negotiation Sample Questions (Q164-Q169):

NEW QUESTION # 164
Which of the following is a source of power in organisational relationships?

A. Given power
B. Referent power
C. Tactical power
D. Intruded power

Answer: B

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.3 - Sources of Power in Negotiation

NEW QUESTION # 165
To buying organisation, savings can be achieved from different saving levers or tactics. Which of the following are means that deliver savings through optimising specifications?

A. Value engineering
B. Compare total cost of ownership
C. Volume pooling
D. Budget linkages
E. Part substitution

Answer: A,E

Explanation:
:
If driving greater value and efficiency from your supply base is your end, you should remember that there are many ways to do this without seeking to negotiate lower prices. Below are 7 types of saving levers:
Table Description automatically generated

NEW QUESTION # 166
Which of the following are most likely to be macro factors that may influence the balance of power in commercial negotiation? Select THREE that apply.

A. Number of substitute products or services
B. Purchasing spend volume
C. Sustainability of natural resources
D. Intensity of competition in a industry
E. Disruptive technologies
F. Economic growth rates

Answer: C,E,F

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:
Table Description automatically generated

LO 1, AC 1.3

NEW QUESTION # 167
Collaborative approach in negotiation not only can fully satisfies the concerns of both, but also ensure that neither party will seek to be opportunistic in later time during the life of the contract. Is this statement true?

A. Yes, because all parties must have exactly the same goals in integrative negotiation
B. Yes, because both parties have well understood each other's goals when they engage in collaborative negotiation
C. No, because any party may leverage its own advantage during the contract
D. No, because the parties will always find a compromise solution in integrative approach

Answer: C

Explanation:
:
Integrative, interest-based negotiation can facilitate constructive, positive relationship and establish contracts between parties on a foundation of goodwill. It is important to note it can only facilitate these positive outcomes, it does not guarantee that the other party will not seek to be opportunistic at a later time during the life of the contract. Previous knowledge of the behaviours of the other party regarding honouring contractual and other commitments will be useful here in predicting long-term outcomes, not ensuring that they will not leverage their advantages.

NEW QUESTION # 168
When is the best time for buyer to propose the negotiation agenda to potential supplier?

A. At testing stage
B. At opening stage
C. At preparation stage
D. At conclusion stage

Answer: C

Explanation:
A business negotiation agenda is a formal agreed upon list of goals to be achieved or items to be discussed in a particular order during a meeting or negotiation. Agendas can be formal and obvious, or informal and subtle in negotiations.
The agenda is one of the main structural elements of negotiation, in addition to such questions as site, identification of participants, and elements of timing. Together, they answer the who, what, when, and where questions. As with other aspects of negotiation, the agenda can be used either manipulatively to enhance leverage or to improve the prospects for agreement and the possibilities for mutual gain. In most cases, it will be used both ways, reflecting the nature of negotiation as a "mixed-motive" situation.
Although it can be instrumental to [research] volunteer as a sole source to write the agenda, in most cases it becomes a joint activity to construct a consensual basis for subsequent negotiation. In these situations, agenda- building becomes one of the pre-negotiation activities that set the tone for the relationship (Saunders, 1985).
In other situations, the parties may engage in actual negotiation without a formal or written agenda. When this occurs, the risks and uncertainties may be high but the party who appreciates the importance of the informal agenda has a tremendous advantage.
Whether one plans it or not, during the course of negotiation the parties will discuss a finite set of issues in some sequence and from a particular perceptual framework. Consciousness of the universality and centrality of the agenda is prerequisite to guiding negotiation to a successful conclusion.

NEW QUESTION # 169
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