L4M5 TEST QUIZ | L4M5 VALID CRAM MATERIALS

L4M5 Test Quiz | L4M5 Valid Cram Materials

L4M5 Test Quiz | L4M5 Valid Cram Materials

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Tags: L4M5 Test Quiz, L4M5 Valid Cram Materials, Reliable L4M5 Study Materials, Latest L4M5 Exam Question, L4M5 Review Guide

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CIPS L4M5 Exam is suitable for procurement professionals at all levels, from entry-level buyers to senior procurement executives. It is particularly relevant for individuals who are responsible for managing complex procurement projects, negotiating large-scale contracts, or dealing with high-value purchases. Commercial Negotiation certification is also well-suited for individuals who work in industries where negotiation skills are critical, such as construction, engineering, and manufacturing.

CIPS L4M5 (Commercial Negotiation) Exam is designed to assess the knowledge and skills of procurement professionals in the area of commercial negotiation. L4M5 exam focuses on the key principles and techniques of negotiation, which are essential for procurement professionals to achieve the best possible outcomes for their organizations. L4M5 Exam covers a wide range of topics, including negotiation strategies, tactics, and techniques, as well as the legal and ethical considerations that must be taken into account during the negotiation process.

CIPS L4M5 Commercial Negotiation exam is one of the valuable certifications for professionals in procurement and supply chain management. L4M5 exam content provides insight into various negotiation strategies and techniques that can be used in specific procurement scenarios. It is essential that candidates invest ample time in thorough preparation and studying to pass the exam successfully. Upon completion, the certification will provide procurement professionals with the necessary skills required to negotiate effectively while maintaining ethical business practices, thereby enhancing their careers in the field.

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L4M5 Valid Cram Materials & Reliable L4M5 Study Materials

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CIPS Commercial Negotiation Sample Questions (Q234-Q239):

NEW QUESTION # 234
According to Professor Gavin Kennedy, in which of the following forms of dispute resolution, both parties will voluntarily exchange their ideas and beliefs?

  • A. Negotiation
  • B. Gambling
  • C. Litigation
  • D. Persuasion

Answer: A

Explanation:
:
Professor Gavin Kennedy highlights that we need to distinguish negotiation from other forms of decision- making by focusing on what is unique about it (the voluntary exchange) and not shared by other techniques such as persuasion, gambling (e.g., coin tossing), command decision, instruction, litigation and coercion.


NEW QUESTION # 235
Stalemate is more likely to happen if both parties trade more variables in a commercial negotiation. Is this assumption true?

  • A. Yes, because the negotiation will last endlessly if there are too many variables
  • B. Yes, because more variables will cause more conflicts of interest
  • C. No, because more variables will facilitate more possible negotiated outcomes
  • D. No, because the party who offers more variables will have lower bargaining power

Answer: C

Explanation:
Negotiation variables such as price or contract length, etc are that can be traded with TOP in a negotiation.
The more variables you can identify, the better. The more variables you can identify and articulate, the lower the chances of the negotiation reaching deadlock as more possibilities are facilitated regarding more creative solutions.
Below are examples of negotiation tradeables in buying professional services:
Table Description automatically generated

Table Description automatically generated

LO 2, AC 2.3


NEW QUESTION # 236
Colin Smith is preparing for a negotiation with a supplier that provides a chemical for grass fertiliser. Colin has been given an action to secure a commercial deal that achieves his organisation's objective of 'ethical and sustainable procurement.' As part of his negotiation plan, Colin is using the 'must, intend, like (MIL)' framework to prepare for the negotiation. Colin would categorise his organisation's objective within the negotiation plan as:

  • A. Like to have
  • B. Must have
  • C. Likely to have
  • D. Intend to have

Answer: B


NEW QUESTION # 237
In addition to organisational power, personal power of each negotiator can influence the outcomes of a negotiation. A good negotiator can leverage different sources of power. Is this statement true?

  • A. Yes, because all sources of power have similar effectiveness in every situation
  • B. Yes, because the good negotiator recognises his own power in a negotiation
  • C. No, because each person has only one superior source of personal power
  • D. No, because only organisational power can be leveraged during a negotiation

Answer: B

Explanation:
Both organisational and personal power have the ability to influence the outcomes of negotiation. Good negotiators recognises the different sources of relative personal power they possess in a negotiation. There is no one superior source of personal power; they will vary in their effectiveness based on the situation. The more personal sources available the better, even if some not used, these can be used as a fallback.
LO 1, AC 1.3


NEW QUESTION # 238
Where a market consists of a large producer of a product with high market power, it is known as:

  • A. A monopsony structure
  • B. A monopolistic structure
  • C. An oligopoly structure
  • D. A monopoly structure

Answer: D


NEW QUESTION # 239
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