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L4M5 Real Dumps Free, L4M5 Latest Exam Camp

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L4M5 Real Dumps Free, L4M5 Latest Exam Camp

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CIPS L4M5 certification program covers a wide range of topics related to commercial negotiation, including communication skills, negotiation tactics, contract management, and dispute resolution. The program is designed to provide professionals with a comprehensive understanding of the negotiation process and the tools and techniques needed to achieve successful outcomes. The CIPS L4M5 certification program is highly regarded in the industry and is recognized by employers around the world as a mark of excellence in commercial negotiation.
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 L4M5 Certification Exam is an essential qualification for professionals who are involved in commercial negotiation. It is recognized globally as a mark of excellence in this field and provides candidates with the knowledge and skills necessary to succeed in negotiating commercial contracts and agreements. With the right preparation and study materials, candidates can successfully pass the exam and demonstrate their expertise in this critical area of procurement and supply chain management.
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CIPS Commercial Negotiation Sample Questions (Q320-Q325):NEW QUESTION # 320
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.
  • A. Anchoring
  • B. Role ethics
  • C. Pacing and leading
  • D. Validation
  • E. Framing and reframing
  • F. Ratification
Answer: A,C,E
Explanation:
The question asks about negotiation techniques which are not present in the book. In this question, there are only 3 recognised techniques:
- Framing and reframing: A frame is an assumption, or set of assumptions, that guides our attention and behavior. Reframing is the ability to identify and significantly change assumptions or perspectives. Framing has a significant impact on the effectiveness of negotiation outcomes and negotiator working relationships.
You can read more on framing and reframing here.
- Anchoring: Anchoring bias is well-known cognitive bias in negotiation and in other contexts. The anchoring bias describes the common tendency to give too much weight to the first number put forth in a discussion and then inadequately adjust from that starting point, or the "anchor." We even fixate on anchors when we know they are irrelevant to the discussion at hand. You can read more on anchoring here.
- Pacing and leading: Pacing and leading is a two-step lever of persuasion. First - You "match your pace" to the person you want to influence in as many ways as possible. You can do this by mimicking the way the person talks, stands, their appearance, etc. You can also mimic less tangible aspects like the way they act, or their emotional state. Second - Once you've set your pace with someone, lead them to whatever decision or behavior you want them to take! You can read more on pacing and leading here.

NEW QUESTION # 321
A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?
  • A. There will be regular structured negotiations
  • B. The buyer should focus on wider costs and risk elements
  • C. There will be only limited negotiation
  • D. The approach must be collaborative
Answer: C
Explanation:
With non-critical commodity products, the relationship will be transactional. Buyer should not spend too much time and effort into the negotiation.
LO 1, AC 1.4

NEW QUESTION # 322
A building firm has been awarded a contract to build a new office block, and the building firm needs to separate its direct and indirect costs.
Which one of the following is a direct cost to the building of the new office block?
  • A. Cost of materials
  • B. Cost of legal fees
  • C. Cost of office space
  • D. Cost of insurance
Answer: A

NEW QUESTION # 323
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.
  • A. Number of substitute products or services
  • B. Purchasing spend volume
  • C. Disruptive technologies
  • D. Sustainability of natural resources
  • E. Intensity of competition in a industry
  • F. Economic growth rates
Answer: C,D,F
Explanation:
Explanation
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
Table Description automatically generated

LO 1, AC 1.3

NEW QUESTION # 324
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply
  • A. Buyers purchase in small volumes
  • B. Eruption of epidemic in supply market
  • C. Suppliers are more concentrated than buyer
  • D. JCB's switching costs are low
  • E. These components are highly standardised
Answer: D,E
Explanation:
Explanation
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:

Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer'spower:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correctbecause:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3

NEW QUESTION # 325
......
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