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CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for procurement professionals who want to develop their negotiation skills and become experts in commercial negotiation. Commercial Negotiation certification is suitable for individuals who are involved in the procurement process and need to negotiate contracts, agreements, and deals with suppliers and vendors. L4M5 exam covers various topics related to commercial negotiation, including negotiation theory, strategy, and tactics.

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.

CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	Differentiate between the types of approaches that can be pursued in commercial negotiations Distributive win-lose, distributive approaches to negotiation
Topic 2	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
Topic 3	Organisational power: comparing the relative power of purchasers and suppliers Explain how the balance of power in commercial negotiations can affect outcomes
Topic 4	Analyse the application of commercial negotiations in the work of procurement and supply Negotiation in relation to the stages of the sourcing process
Topic 5	Analyse how to assess the process and outcomes of negotiations to inform future practice Protecting relationships after the negotiation
Topic 6	Costing methods such as absorption, marginal or variable and activity based costing Know how to prepare for negotiations with external organisations
Topic 7	Setting targets and creating a best alternative to a negotiated agreement (BATNA) Collaborative win-win integrative approaches to negotiations
Topic 8	Building relationships based on reputation, and trust Repairing a relationship The relationship spectrum
Topic 9	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 10	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 11	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web based meetings

CIPS Commercial Negotiation Sample Questions (Q25-Q30):

NEW QUESTION # 25
Which of the following are most likely to be characteristics of a perfectly competitive market? Select TWO that apply

A. There are many buyers and sellers in the market
B. In a competitive market, both buyers and sellers are price givers
C. Firms can freely enter or exit the market
D. In a perfectly competitive market, each seller has a large impact on the market price A perfectly competitive market consists of products that are all slightly different from one another

Answer: A,C

Explanation:
A perfectly competitive market is one with the following features:
- There are many firms producing identical or very similar (homogeneous) goods or services
- There are no barriers to entry to the market or exit from the market - anyone can enter or leave easily
- Both producers and customers have perfect knowledge of the market place, prices, costs of production and influences on demand and supply Under these conditions, the price and quantity will always tend toward equilibrium as any producer that sets a price above equilibrium will not sell anything at all, and any producer that sets a price below a equilibrium will obtain 100% market share in theory. The demand curve is perfectly elastic, which means that it will be horizontal. In a perfectly competitive market, it is difficult to increase profits through pricing, and suppliers instead must focus on their cost structure. As these conditions imply, there are few if any examples of perfectly competitive market.
LO 2, AC 2.2

NEW QUESTION # 26
Personal power is only used in distributive approach. Is this statement true?

A. No, because personal power can be veryhelpful in integrative approach
B. Yes, because one party will abuse coercive power to maximise the gain
C. No, because only organisational power will optimise the negotiation outcomes
D. Yes, because only distributive approach to negotiation requires strong personal power

Answer: A

Explanation:
Explanation
Power, or more precisely perceptions of power,are critically important in understanding the commercial negotiation process. From a commercial negotiation point of view (under any circumstances, either integrative or distributive approach), CIPS is interested in power from both a personal and organisational perspective.
When you are negotiating on behalf of your employer, you bring the power of your organisation (its brand, reputation and purchasing spend) as well your own personal power (6 sources of personal power, based on French and Raven's power base model) to the negotiation.
In both integrative and distributive approaches, personal power plays an important role. It helps both parties push through negotiating barriers and secure commitment and final agreement LO 1, AC 1.3

NEW QUESTION # 27
Which of the following is definition of elasticity of demand in microeconomics?

A. The percentage change in the quantity demanded divided by the percentage change in income
B. The percentage change in price of a good divided by the percentage change in the quantity demanded of that good.
C. The percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
D. The percentage change in income divided by the percentage change in the quantity demanded

Answer: C

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
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NEW QUESTION # 28
Fast & Easy Limited, a global fast food retailer, is in a negotiation with its major meat supplier. The supplier is asking for a 2% price increase, which Fast & Easy is strongly resisting. The supplier justifies this increase by stating that currency fluctuations, an unstable economic climate, and rising transport costs have necessitated this increase. Which influencing tactic is the supplier using?

A. Inspirational appeal
B. Personal appeal
C. Coalition
D. Rational persuasion

Answer: D

Explanation:
The supplier is using Rational persuasion by providing logical reasons, such as economic conditions and increased costs, to justify the price increase. This approach uses factual information to influence the buyer's decision, aiming to present the price hike as a reasonable adjustment, which aligns with CIPS strategies on influencing tactics in negotiations.

NEW QUESTION # 29
Can a party gain huge advantages innegotiation from setting room layout?

A. Yes, because the other party can capitulate to the host
B. Yes, because the host can freely manipulate the other party's mind through setting room layout
C. No, because the advantages gained from manipulating room layout are short-lived
D. No, because room layout contributes nothing to the negotiation outcomes

Answer: C

Explanation:
Essentially, for trained negotiators under most circumstances, the physical locations of negotiations and the room layout should not make much difference to the outcomes of the meeting. It is reasonable to assume that most commercial negotiations are based at least initially on a principled- or pragmatic-type approach. It is arguable also that any advantage gained through intentionally creating an uncomfortable environment to put short-term pressure on TOP is likely to be short-lived as TOP will likely reflect on this later and seek means to get even.

NEW QUESTION # 30
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