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Hot Latest L4M5 Test Answers Free PDF | Reliable Associate L4M5 Level Exam: Commercial Negotiation

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CIPS L4M5 (Commercial Negotiation) Exam is an essential certification for professionals seeking to advance their careers in the field of procurement and supply chain management. L4M5 exam is designed to test a candidate's understanding of the principles of negotiation and their ability to apply these principles in commercial contexts. The CIPS L4M5 Exam is known for its rigorous and comprehensive nature, making it highly respected within the industry.

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CIPS L4M5 exam covers a wide range of topics related to commercial negotiation, including negotiation planning, strategies, tactics, and techniques. Candidates are also tested on their understanding of the legal and ethical considerations that come into play during negotiations, as well as their ability to manage conflicts and build long-term relationships with suppliers. L4M5 exam is suitable for professionals who are involved in procurement, supply chain management, and contract management roles, as well as those who are looking to advance their careers in these areas.

CIPS L4M5 (Commercial Negotiation) Exam is recognized globally and is highly regarded by employers in the procurement industry. It is an essential qualification for procurement professionals who want to advance their careers and become more effective negotiators. L4M5 exam is also a requirement for those who wish to attain the prestigious MCIPS (Member of the Chartered Institute of Procurement and Supply) certification.

CIPS Commercial Negotiation Sample Questions (Q161-Q166):

NEW QUESTION # 161
A procurement manager is preparing fora negotiation with an important supplier. He plans to withhold some crucial information so that his company gains the upper hand in the negotiation. Is this correct when considering using integrative approach to the negotiation?

A. Yes, the buying organisation must maximise its gain, even at the detriment of the other party
B. No,holding back information will prompt the supplier gain higher negotiation power
C. No, this approach requires honest and open discussion
D. Yes, the supplier must know what buyer wants and how to provide that even when the buyer is silent on these matters

Answer: C

Explanation:
Integrative negotiation is a negotiation strategy in which the involved parties work together to find a solution that satisfies the needs and concernsof each. This process often involves group brainstorming and creative thinking for individuals to suggest different ideas that benefit both parties.
Compromising is often common in integrative negotiation, and both sides may need to give up certain needs to reach a solution. Honesty can also promote successful integrative negotiation because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result.

NEW QUESTION # 162
Which of the following are intangible values created by trust in business relationships? Select TWO that apply.

A. Higher revenues
B. Increasing response time to request
C. Frequent conflict escalation
D. More focus oncore business
E. Positive feedbacks from customers

Answer: D,E

Explanation:
Explanation
Trust may create value as following:
Text Description automatically generated with low confidence

LO 1, AC 1.4

NEW QUESTION # 163
Which of the following are microeconomic factors? Select THREE that apply.

A. Levels of competition
B. Rates of taxation
C. Availability of investors
D. Unemployment levels
E. Rates of inflation
F. Distribution channels

Answer: A,C,F

Explanation:
Microeconomic factors refer to elements that affect individual businesses or sectors rather than the economy as a whole. In this case:
Availability of investors (B): Access to investors impacts capital availability for businesses.
Distribution channels (D): Distribution methods directly influence a business's ability to get products to market.
Levels of competition (F): Competition affects pricing and strategic decisions within specific industries.
Taxation rates, unemployment levels, and inflation rates are considered macroeconomic factors, affecting the economy on a broader scale, as per CIPS's definitions of microeconomic vs. macroeconomic influences.

NEW QUESTION # 164
Which of the following are types of questions that are useful in opening and testing phases of a negotiation?
Select the TWO that apply.

A. Leading
B. Closed
C. Open
D. Probing
E. Narrow

Answer: C,D

Explanation:
:
In the opening phase, parties should confirm understanding and get the issues on the table.
The testing phase is an information gathering stage where the hypothesis and assumption you have made in the planning stage can be tested or confirmed or disproved.
Opening questions (those that start with 'what', 'how', 'why') are used at the opening and testing stages to uncover needs and underlying motives, and to allow the buyer to get a feel of what is in store in the negotiation.
Probing questions are also useful to check that the supplier fully understand their offering, as well as your needs, and can also be used to communicate to the supplier that you know this category well. These questions are typically useful at the opening and testing stages.

NEW QUESTION # 165
A procurement professional is sourcing low value items. He conducts market analysis and realise that these items can be provided by many suppliers and switching cost between suppliersis relatively low. He also assume that the relationship between buyer and supplier will be transactional rather than long-term. According to Thomas-Kilmann conflict model instrument, which of the following is the most appropriate style that the procurement professional should adopt when negotiating with these suppliers?

A. Compromising
B. Avoiding
C. Collaborating
D. Competing

Answer: D

Explanation:
According to Thomas-Kilmann conflict model instrument, there are 5 conflict management styles:
Graphical user interface, text, application, email Description automatically generated

In this scenario, the buyer's bargaining power is stronger than suppliers', and the relationship is transactional.
Therefore, to get the most preferable outcome, the procurement professional can take an assertive approach, while he doesn't need to co-operate closely with these suppliers. Competing will be the most appropriate approach to negotiation in this scenario so that the buying organisation can get a better deal.

NEW QUESTION # 166
......

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