TEST L4M5 DUMPS, NEW L4M5 CRAM MATERIALS

Test L4M5 Dumps, New L4M5 Cram Materials

Test L4M5 Dumps, New L4M5 Cram Materials

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CIPS L4M5 Certification Exam covers a range of skills and knowledge areas related to commercial negotiation. These include understanding the principles of effective negotiation, developing negotiation strategies, managing the negotiation process, and analyzing and evaluating negotiation outcomes. L4M5 exam is designed to test candidates' knowledge of these areas and their ability to apply this knowledge in real-world situations.

CIPS L4M5 exam, also known as Commercial Negotiation, is an important certification for procurement professionals seeking to enhance their negotiation skills. L4M5 Exam is designed to test candidates' knowledge and understanding of the principles, techniques, and strategies used in commercial negotiation. It is an essential requirement for procurement professionals who want to excel in their careers and contribute to the growth of their organizations.

CIPS Commercial Negotiation Sample Questions (Q74-Q79):

NEW QUESTION # 74
A buying organisation with a low spend but the reputation for paying on-time. In order to increase buyer's leverage in negotiation with suppliers, which of the following should be a priority of this buyer?

  • A. Unclear tender award criteria
  • B. Spend concentration
  • C. Volume separation
  • D. Unavailable technical support

Answer: B

Explanation:
Explanation
According to Paul Steele's 'The Seller's Perspective', customer can be classified into 4 categories as below:
To increase theleverage in negotiation, buyer may increase its attractiveness and/or increase spend value. In this scenario, the buyer is already attractive to supplier as it always pays on-time, but the spend is still low. So to have greater leverage, the buyer has toincrease its spend volume by spend concentration. Spend concentration may take many forms as following:
- Vendor base reduction
- Volume pooling
- Volume redistribution
- Volume consolidation across categories
- Standardisation and harmonisation of specifications
- Forming purchasing consortia
Chart, treemap chart Description automatically generated

LO 1, AC 1.3


NEW QUESTION # 75
Which of the following should be adopted to minimise the conflict between parties in commercial negotiation?

  • A. Ground zero
  • B. The rule of law
  • C. Ground beam
  • D. Ground rules

Answer: D

Explanation:
:
Ground rules are the basic rules for doing something (Cambridge Dictionary). A negotiation goes more smoothly if ground rules are adopted. Then if something goes awry at a later time, you can point out the ground rule that has been violated. Procurement professional should seek to minimise conflict over process through agreeing 'ground rules' and approach as far as possible with the other party in advance of any negotiation meetings.
There should be two sets of ground rules: 1) ground rules for the negotiations between the two parties and 2) ground rules for the negotiating team itself. This article is about the negotiating team ground rules.
The rule of law is the condition in which all members of society, including its political leaders, accept the authority of the law.
Ground zero describes the point on the Earth's surface closest to a nuclear detonation. In the case of an explosion above the ground, ground zero refers to the point on the ground directly below the nuclear detonation.
The Ground Beam is the beam which is provided usually at the foundation level to support building walls, joists, etc.


NEW QUESTION # 76
Which of the following are most likely to be abilities of a person with high emotional intelligence? Select TWO that apply.

  • A. Perceiving how others feel
  • B. Complex idea comprehension
  • C. Controlling one's own emotions
  • D. Reasoning and problem solving Abstract thinking

Answer: A,C

Explanation:
Emotional Quotient is the set of skills that enables us to make our way in a complex world - the personal, social and survival aspects of overall intelligence, the elusive common sense and sensitivity that are essential to effective daily functioning. It has to do with the ability to read the political and social environment, and landscape them; to intuitively grasp what others want and need; what strengths and weaknesses are; to remain unruffled by stress; and to be engaging. The kind of person others want to be around and follow.
EQ seeks to measure emotional intelligence and is centred on abilities such as the following:
- Identifying emotions
- Evaluating how others feel
- Controlling one's own emotions
- Perceiving how others feel
- Using emotions to facilitate social communication
- Relating to others
On the other hand, cognitive ability is defined as a general mental capability involving reasoning, problem solving, planning, abstract thinking, complex idea comprehension, and learning from experience (Gottfredson,
1997).
LO 3, AC 3.3


NEW QUESTION # 77
Which of the following is the area where two or more negotiating parties may find common ground?

  • A. Zone of proximal development
  • B. Best alternative to a negotiated agreement
  • C. Zone of potential agreement
  • D. Walk away area

Answer: C

Explanation:
Explanation
The zone of possible agreement (ZOPA) orbargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party's ideas.
The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.
There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.
Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed.
LO 1, AC 1.2


NEW QUESTION # 78
Using emotion as a technique of persuasion is ethical. Is this a true statement?

  • A. Yes, because use of emotion will always lead to agreement
  • B. No, because emotions should not be involved in business agreements
  • C. No, because it's not the best route to enhance relationships
  • D. Yes, because it may appeal to the supplier's goodwill

Answer: B


NEW QUESTION # 79
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