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L4M5 Practice Exam & L4M5 Best Questions & L4M5 Certification Training

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CIPS Commercial Negotiation Sample Questions (Q110-Q115):

NEW QUESTION # 110
An organisation is developing the specification for a capital purchase project. An important stakeholder has doubt on the draft specification. The buyer invites him to the product function meetings. In these meeting the attendees can raise their concerns, the specification development team takes in all the concerns and adjusts the specification accordingly. What kind of technique is the specification development team using?

A. Coalition
B. Visionary
C. Persuasive reasoning
D. Directive

Answer: A

Explanation:
In the scenario, anyone who has concerns can join a meeting to raise their thoughts. The project team takes the stakeholders' ideas into account. This is known as coalition: A group of people or organisations come together and work collaboratively to achieve some goals. Specifically in this scenario, the goal is creating a high-quality and unified specification for an important project.
Reference:
CIPS study guide page 164-165
What Is a Coalition Anyway?

NEW QUESTION # 111
An experienced procurement professional is developing strategies for forthcoming negotiations with her key supplier. To avoid negotiation deadlocks, she identifies the reasons why negotiations could fail. Which of the following are most likely to be reasons for negotiation failures? Select TWO that apply.

A. MIL objectives are well established
B. Both parties focus on common interests
C. Buyer helps to create a co-operative atmosphere
D. Unachievable objectives were set up
E. Underlying interests of TOP are overlooked

Answer: D,E

Explanation:
:
It has been said that most negotiations are won (or lost) at the preparation stage. Success in a negotiation cannot be claimed unless you can refer back to your objectives and show how you have achieve them. In broad terms, negotiation plans/strategies involve 4 key activities:
1. Developing and prioritising your objectives and limits
2. Seeking to understand TOP's objectives
3. Developing concession plans
4. Planning the resources and logistics required and agreeing team roles.
Questions to gain an understanding of why a negotiation failed
Did we collect and make effective use of all information available when preparing for the negotiation?
Did we set objectives for the negotiation that were stretching and achievable and established MIL objectives?
Did we determine a strategy for the negotiation?
Did the other party understand our needs correctly?
Were we aware of the underlying interests of the other party?
Were our proposals convincing enough for acceptance by the other party?
Did we explore different variables in the negotiation?
Did we fully understand all proposals?
Did we give any unplanned concessions and did we check the importance of these?
Did we focus on common interests?
Did we ask a range of questions?
Did we get answers to all our questions?
Could we answer all the questions addressed to us in a proper and positive way?
Did we summarise effectively?
Did we use different methods of persuasion in the negotiations?
Which tactics did we use and what effect did they have?
Did our negotiating team work well as a team?
Did we help to create a co-operative atmosphere

NEW QUESTION # 112
Which of the following are most likely to help buyer become preferred customer in supplier's perspective?
Select TWO that apply.

A. Onerous supplier terms and conditions
B. Shorter payment period
C. Ensuring an increased number of repeat orders
D. Reduction in delivery errors
E. Compliance with agreed repair lead time

Answer: B,C

Explanation:
Explanation
Becoming a preferred customer to supplier's perspective can increase the purchaser's leverage in negotiation.
Beside the size of buying organisation or its spend, the following may be sufficient to differentiate the buyer from other buying organisations:
- Simple procurement processes
- Simple contracting processes
- Clear and concise documentation
- Absence of onerous supplier terms and conditions (onerous supplier terms and conditions mean that obligations imposed on suppliers are greater than their gains)
- On-time payment: The reduction in hassle for both supplier and the buyer, if bills are paid on time, is significant. From the customer's perspective it could also be the opener to agreeing preferential payment terms. A supplier may weigh up that payment on time at 60 days is worth taking, over the current 30-day terms that slip to 90 days and beyond.
-Transparent processes
- Ethical behavior
LO 1, AC 1.3

NEW QUESTION # 113
During a negotiation, the supplier requests for payment term shortened to 45 days from 60 days. Seeing that this proposal lies within the concession plan, the procurement manager asks for 5% discount in return. Is that right thing to do?

A. No, it is unethical to exploit the weakness of the other party
B. Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status
C. No, procurement should insist the payment term remains 60 days
D. Yes, the procurement manager should keep that 5% for himself because that amount is a fair compensation for his effort

Answer: B

Explanation:
When preparing for a negotiation, negotiator should establish a list of tradeables and a concession plan. Good negotiators never give anything away that has not already been planned as part of the bargaining mix in the concession planning stage.
In the above scenario, the procurement manager has planned his own concession, so he can trade with supplier. The answer should be "Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status" LO 2, AC 2.3

NEW QUESTION # 114
Which ofthe following is a true statement regarding macroeconomic factors and their potential impact on negotiations?

A. Expectations on macroeconomic prospect are always correct
B. Changes in macroeconomic factors may affect businesses and individuals differently
C. Macroeconomic factors always directly influence the negotiations
D. Macroeconomic factors cannot be influenced by anyone's expectation or sentiment

Answer: B

Explanation:
Explanation
'Macroeconomic factors always directly influence the negotiations': This statement is false. For any given negotiation it is not the macroeconomic factor itself that necessarily influences the negotiation but the change or rate of change that factor.
'Changes in macroeconomic factors may affect businesses and individualsdifferently': This statement is true.
Macroeconomic factors are factors that have general effects on the economy and many businesses may be completely unaffected or affected more or less than others in the same industry by a change in a factor.
'Macroeconomic factors cannot be influenced by anyone's expectation or sentiment': This statement is false.
When it comes to macroeconomic factors another key consideration is expectation regarding what might happen to these factors, or specifically the measures, metrics or percentage rates associated with these factors in the future.
'Expectations on macroeconomic prospect are always correct': This statement is false. Expectations are not always correct.
LO 2, AC 2.2

NEW QUESTION # 115
......

Exams L4M5 Torrent: https://www.vce4plus.com/CIPS/L4M5-valid-vce-dumps.html

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