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Prepare for the CIPS Commercial Negotiation exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIPS L4M5 exam and achieve success.
The questions for L4M5 were last updated on Dec 19, 2024.
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Which of the following stages of the CIPS Procurement Cycle are typically where commercial negotiations take place?
Contract management and improvement
Develop tender documentation
Market sector analysis
Contract award and implementation
Commercial negotiations commonly take place during Contract Management and Improvement (1) and Contract Award and Implementation (4) stages. During these stages:
Contract Management and Improvement (1): Ongoing negotiations may be required to adjust terms and conditions as part of managing the contract lifecycle.
Contract Award and Implementation (4): Initial negotiations finalize terms, setting the foundation for successful contract execution.
These stages are pivotal in ensuring both initial and ongoing alignment, as outlined in the CIPS Procurement Cycle.
Which type of power is considered the opposite of coercive power?
The coercive power comes from the belief that a person can punish others for non-compliance. It can be considered as opposite to reward power, which results from one person's ability to compensate or reward another for compliance.
LO 1, AC 1.3
The sourcing manager has decided to adopt an adversarial style of negotiation to take advantage of the buyer's greater bargaining power over the suppliers. In what other circumstances should an adversarial relationship be used?
This question is a duplicate of Question 17. The answer remains the same: When the issues concerned are non-negotiable, such as health and safety commitments (D). Non-negotiable issues require an assertive approach to ensure adherence to essential standards, as highlighted in CIPS's framework for negotiation styles.
Which of the following are behaviours that builds trust between the buyer and the supplier in business relationship? Select TWO that apply.
:
Trust-building behaviours are as following:
Joint-effort issue resolution
Open sharing of information
Open and honest discussion on root cause of failures
Joint planning focusing on value for money and risk sharing
Commercial transparency and co-proposition of cost reduction and service improvement programmes
Joint recognition and celebration of successes
The National Schools Purchasing Forum (NSPF) is a procurement organisation that purchases goods and services on behalf of schools on a national scale. NSPF is close to concluding negotiations in a meeting with Hygienics For All (HFA) for the supply of consumables to school washrooms. Both parties have reached an agreeable position, and NSPF feels it is important that they conclude the negotiation at this point. What type of questions should NSPF ask HFA to achieve this?
Closed questions are effective for concluding negotiations, as they often elicit straightforward yes-or-no responses, helping to finalize terms and confirm agreement on specific points. This approach facilitates a clear and concise close to discussions, ensuring that both parties confirm their commitment to the agreed terms, as recommended by CIPS negotiation strategies.
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