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Commercial Negotiation
Last Updated: Oct 3, 2024
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163 Questions and Answers for the CIPS L4M5 exam
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CIPS Commercial Negotiation Syllabus
- Analyse the application of commercial negotiations in the work of procurement and supply/ Negotiation in relation to the stages of the sourcing process
- Understand key approaches in the negotiation of commercial agreements with external organisations/ Sources of conflict that can arise in the work of procurement and supply
- Team management and the influence of stakeholders in negotiations/ Definitions of commercial negotiation
- Setting targets and creating a best alternative to a negotiated agreement (BATNA)/ Collaborative win-win integrative approaches to negotiations
- Differentiate between the types of approaches that can be pursued in commercial negotiations/ Distributive win-lose, distributive approaches to negotiation
- Organisational power: comparing the relative power of purchasers and suppliers/ Explain how the balance of power in commercial negotiations can affect outcomes
- How purchasers can improve leverage with suppliers/ The importance of power in commercial negotiations
- Building relationships based on reputation, and trust/ Repairing a relationship/ The relationship spectrum
- Identify the different types of relationships that impact on commercial negotiations/ Pragmatic and principled styles of negotiation
- Costing methods such as absorption, marginal or variable and activity based costing/ Know how to prepare for negotiations with external organisations
- Macroeconomics and its influence on commercial negotiations/ Contrast the economic factors that impact on commercial negotiations
- Setting objectives and defining the variables for a commercial negotiation/ Use of telephone, teleconferencing or web based meetings
- How behaviours should change during the different stages of a negotiation/ Compare the key communication skills that help achieve desired outcomes
- Analyse how to assess the process and outcomes of negotiations to inform future practice/ Protecting relationships after the negotiation