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The Defining Business Needs certification exam covers a broad range of topics including the principles of business analysis, stakeholder management, requirements engineering, and business architecture. L4M2 exam is designed to test the candidate's understanding of these topics and their ability to apply them in real-world scenarios. L4M2 exam is conducted online and consists of 60 multiple choice questions that must be completed within 90 minutes.

CIPS L4M2 Exam is designed to test the knowledge and skills required for defining business needs. L4M2 exam covers a range of topics related to business analysis, including understanding and analyzing business requirements, developing business cases, and identifying and evaluating potential solutions.

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CIPS L4M2 (Defining Business Needs) certification exam is designed to test the knowledge and skills of professionals in the field of procurement and supply chain management. Defining Business Needs certification program is recognized globally and is highly valued by employers and industry professionals alike. The CIPS L4M2 Exam is aimed at individuals who are looking to advance their careers in procurement and supply chain management.

CIPS Defining Business Needs Sample Questions (Q222-Q227):

NEW QUESTION # 222
In which circumstances would it be relevant to require supplier accreditation to the ISO 14001 international standard in a contract specification? Select THREE that apply.

• A. The requirements will use natural resources
• B. The requirements will generate waste
• C. The requirements cause emissions to air and water
• D. The requirements impact on occupational health
• E. The requirements need specific quality assurance
• F. The requirements involve the processing of data

Answer: A,B,C

NEW QUESTION # 223
Buyers in the same industry with the same understanding of relative value and price may still make different decisions about whether to switch. Which of the following factors may prompt a buying organization to incline toward substitute products?
1. There is potential for backward integration
2. Access to financial resources
3. The switching cost is high
4. The substitute fits organisation's strategy

• A. 3 and 4 only
• B. 1 and 4 only
• C. 1 and 2 only
• D. 2 and 4 only

Answer: D

Explanation:
The threat of substitution is a function of three factors:
* The relative value/ price of a substitute compared to an industry's product
* The cost of switching to the substitute
* The buyer's propensity to switch
Buyers with different circumstances and in different industries do not all have equal propensities to substitute when faced with a comparable economic motivation. Differences in their circumstances lead buyers to respond to a given relative value to price (RVP) and switching cost differently. While such differences might be treated as factors that modify RVP or switching costs, it is more helpful in practice to isolate them.
Resources. Substitution often involves up-front investments of capital and other resources. Access to such resources will differ from one buyer to another.
Risk Profile. Buyers often have very different risk profiles, the result of such things as their past history, age and income, ownership structure, background and orientation of management, and nature of competition in their industry. Buyers prone to risk taking are more likely to substitute than buyers that are risk-averse.
Technological Orientation. Buyers experienced with technological change may be less concerned with some kinds of substitution risks, while extremely aware of others that a less technologically sophisticated buyer would be oblivious to.
Previous Substitutions. The second substitution may be easier for a buyer than the first, unless the first substitution has been a failure. The buyer's uncertainties over undertaking a substitution may have diminished if a past substitution has been successful, or risen if a past substitution has led to difficulties. In the soft drink industry, this seems to have worked to the benefit of aspartame.
Intensity of Rivalry. Buyers under intense competitive pressure and searching for competitive ad-vantage will tend to substitute more quickly to gain a given advantage than those that are not.
Generic Strategy. The RVP of a substitute will have different significance depending on the com-petitive advantage that industrial, commercial, or institutional buyers are seeking or the value of time and particular performance needs of the household buyer. A substitute that offers a cost saving will tend to be of more interest to a cost leader than a differentiator, for example.
Many of these factors that shape the buyer's propensity to substitute will be a function of the particular decision maker who is involved in the purchase decision.
Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 278-289). Free Press. Kindle Edition.

NEW QUESTION # 224
Which of the following events would increase the number of suppliers in a particular market?

• A. Requirement for all companies to have 10,000 or more employees
• B. De-regulation of a previously government-run industry
• C. Introduction of minimum wage regulations
• D. High and increasing levels of investment required to enter the market

Answer: B

Explanation:
Detailed Explanation:De-regulation removes barriers to entry, encouraging new suppliers to enter the market. Other factors, like high investment or stringent requirements, limit supplier participation. Reference:
CIPS Level 4, Market Entry and Supply Chain Factors.

NEW QUESTION # 225
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?

• A. Treat the risk
• B. Transfer the risk
• C. Terminate the risk
• D. Tolerate the risk

Answer: A

Explanation:
Risk control is the process by which an organization reduces the likelihood of a risk event occurring or mitigates the effects that risk should it occur. CIPS preferred way to determine your risk control strategy is to use the four T's Process:
Transferring Risk can be achieved through the use of various forms of insurance, or the payment to third parties who are prepared to take the risk on behalf of the organization Tolerating Risk is where no action is taken to mitigate or reduce a risk. This may be because the cost of instituting risk reduction or mitigation activity is not cost-effective or the risks of impact are at so low that they are deemed acceptable to the business. Even when these risks are tolerated they should be monitored because future changes may make it no longer tolerable.
Treating Risk is a method of controlling risk through actions that reduce the likelihood of the risk occurring or minimize its impact prior to its occurrence. Also, there are contingent measures that can be developed to reduce the impact of an event once it has occurred. Finding an alternative sup-plier is an example of treating the risk.
Terminating Risk is the simplest and most often ignored method of dealing with risk. It is the ap-proach that should be most favored where possible and simply involves risk elimination. This can be done by altering an inherently risky process or practice to remove the risk. The same can be used when reviewing practices and processes in all areas of the business.
If an item presents a risk and can be changed or removed without it materially affecting the busi-ness, then removing the risk should be the first option considered; rather than attempting the treat, tolerate or transfer it.

NEW QUESTION # 226
Ymira is asked to develop the specification for water purifier which will be used at the company headquarter.
She believes that the specification can be drafted based on the information available on the Internet, such as blog posts, comparison websites, how-to websites, life hacks, etc. Which of the following traits will make the information more useful?

• A. Objectivity
• B. Trustworthy sources
• C. Subjectivity
• D. Promotional information
• E. Written by inexperienced author

Answer: A,B

Explanation:
Internet is a great source of information, however, information from the Internet needs to be tested for accuracy and reliability. To check the information from the Internet, a buyer can use the criteria with acronym SAMOA:
Source (of the information)
Audience (intended as the recipient of the information)
Methodology (used to collect and analyse the data)
Objectivity (of the information - there should be no bias)
Accuracy

NEW QUESTION # 227
......

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