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<br>P.S. Free 2023 CIPS L4M5 dumps are available on Google Drive shared by TestPDF: https://drive.google.com/open?id=1MIkSCSQPoF0j88pUVYJWh9JW9QZJ1CEb<br>If you can own the L4M5 certification means that you can do the job well in the area so you can get easy and quick promotion. The latest L4M5 quiz torrent can directly lead you to the success of your career. Our materials can simulate real operation exam atmosphere and simulate exams. The download and install set no limits for the amount of the computers and the persons who use L4M5 Test Prep. So we provide the best service for you as you can choose the most suitable learning methods to master the L4M5 exam torrent. Believe us and buy our L4M5 exam questions.<br>Our company is trying to satisfy every customeru2019s demand. Of course, we also attach great importance on the quality of our L4M5 real exam. Every product will undergo a strict inspection process. 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Free update for one year is available, and the update version for L4M5 material will be sent to your email automatically.<br>CIPS L4M5 Exam Syllabus Topics:<br>TopicDetailsTopic 1Macroeconomics and its influence on commercial negotiations<br> Contrast the economic factors that impact on commercial negotiations<br>Topic 2Team management and the influence of stakeholders in negotiations<br> Definitions of commercial negotiation<br>Topic 3How behaviours should change during the different stages of a negotiation<br> Compare the key communication skills that help achieve desired outcomes<br>Topic 4Setting targets and creating a best alternative to a negotiated agreement (BATNA)<br> Collaborative win-win integrative approaches to negotiations<br>Topic 5Organisational power: comparing the relative power of purchasers and suppliers<br> Explain how the balance of power in commercial negotiations can affect outcomes<br>Topic 6Costing methods such as absorption, marginal or variable and activity based costing<br> Know how to prepare for negotiations with external organisations<br>Topic 7Differentiate between the types of approaches that can be pursued in commercial negotiations<br> Distributive win-lose, distributive approaches to negotiation<br>Topic 8Understand key approaches in the negotiation of commercial agreements with external organisations<br> Sources of conflict that can arise in the work of procurement and supply<br>CIPS Commercial Negotiation Sample Questions (Q51-Q56):<br>NEW QUESTION # 51 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?<br>A. No,holding back information will prompt the supplier gain higher negotiation power<br>B. Yes, the buying organisation must maximise its gain, even at the detriment of the other party<br>C. No, this approach requires honest and open discussion<br>D. Yes, the supplier must know what buyer wants and how to provide that even when the buyer is silent on these matters<br>Answer: C<br>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.<br>NEW QUESTION # 52 Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply.<br>A. Be honest and objective about your skills<br>B. Use generalised or ambiguous language when describing your strengths and development areas<br>C. Gloss over areas where you need to improve your skills or performance<br>D. Be overly modest about your contribution to the outcomes of negotiation<br>E. Identify areas in your skill set where you need to improve<br>Answer: A,E<br>Explanation:Giving positive group and individual feedback is easy, as is self-congratulation and, in many cases, it is hoped, this will be an accurate reflection on actual performance. When it comes to developmental or difficult feedback, it is only natural to want to move on and not reflect on the negative or developmental points, or why a negotiation did not achieve its objectives. But this is a mistake. The best learning opportunities come from reflection on what could be done better, and this can beachieved without blame, threat or condemnation.Everyone and every team will make mistakes and/or have areas where they could have improved. Clearly, if every reflection session concludes that an individual or team keeps making the same mistake, then thereis a case to change roles or consider alternative approaches.About Dos and Don'ts of reflection, you can refer here:https://offices.depaul.edu/human-resources/employee-relations/Documents/Self Assesement.pdf<br>NEW QUESTION # 53 Representatives from South African Department of Health is negotiating the price of hospital drugs with US pharmaceutical companies. Which of the following are most likely to be macro factors that influence the outcomes of the negotiation? Select TWO that apply.<br>A. Digitalisation of medicine<br>B. Forward integration<br>C. Order quantity<br>D. Regulations on health and safetySwitching costs of buyer<br>Answer: A,D<br>Explanation:ExplanationAll 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 forceswhich both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:Table Description automatically generatedParticularly, pharmaceutical industry is a heavily regulated sector, therefore, legal and regulatory matters in theindustry is highly important. Otherwise, technological trends also permeate into pharmaceutical companies, technologies like digitalisation may transform the balance of power in such negotiation.LO 1, AC 1.3<br>NEW QUESTION # 54 During a negotiation, the supplier requests for payment term shortened to 45days from 60 days. Seeing that this proposal lies within the concession plan, the procurement manager asks for 5% discount in return. Is that right thing to do?<br>A. No, procurement should insist the payment term remains 60 days<br>B. Yes, the procurement manager should keep that 5% for himself because that amount is a fair compensation for his effort<br>C. No, it is unethical to exploit the weakness of the other party<br>D. Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status<br>Answer: D<br>Explanation:ExplanationWhen preparing for a negotiation, negotiator should establish a list of tradeables and a concession plan. Good negotiators never give anything away that has not already been planned as part of the bargaining mix in the concession planning stage.In the above scenario, the procurement manager has planned his own concession, so he can trade with supplier. The answer should be "Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status" Table Description automatically generatedLO 2, AC 2.3<br>NEW QUESTION # 55 Which of the following are most likely to harm trust between buyer and supplier in a commercial relationship?Select TWO that apply.<br>A. Avoidance of submitting important documentations<br>B. Subjective assessment of performance<br>C. Reduced response time during contract performance<br>D. Exploring a disagreement to learn from each other's insights<br>E. Resolving some conditions that would otherwise have them competing for resources<br>Answer: A,B<br>Explanation:ExplanationTrust-destroying behaviours:- Rumours of partnership or relationship breaking down- Emotion-based assessment of performance- Avoiding accountability, passing the blame to others- General mood - resentment, distrust,frustration, etcLO 1, AC 1.4<br>NEW QUESTION # 56......<br>First of all we have fast delivery after your payment in 5-10 minutes, and we will transfer L4M5 guide torrent to you online, which mean that you are able to study as soon as possible to avoid a waste of time. Besides if you have any trouble coping with some technical and operational problems while using our L4M5 exam torrent, please contact us immediately and our 24 hours online services will spare no effort to help you solve the problem in no time. 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CIPS L4M5 Commercial Negotiation 1 testpdf.com P.S. Free 2023 CIPS L4M5 dumps are available on Google Drive shared by TestPDF: https://drive.google.com/open?id=1MIkSCSQPoF0j88pUVYJWh9JW9QZJ1CEb If you can own the L4M5 certification means that you can do the job well in the area so you can get easy and quick promotion. The latest L4M5 quiz torrent can directly lead you to the success of your career. Our materials can simulate real operation exam atmosphere and simulate exams. The download and install set no limits for the amount of the computers and the persons who use L4M5 Test Prep. So we provide the best service for you as you can choose the most suitable learning methods to master the L4M5 exam torrent. Believe us and buy our L4M5 exam questions. Our company is trying to satisfy every customer’s demand. Of course, we also attach great importance on the quality of our L4M5 real exam. Every product will undergo a strict inspection process. In addition, there will have random check among different kinds of L4M5 Study Materials. The quality of our L4M5 practice dumps deserves your trust.our products have built good reputation in the market. We sincerely hope that you can try our L4M5 preparation guide. >> Reliable L4M5 Braindumps Book << Efficient Reliable L4M5 Braindumps Book to Obtain CIPS Certification For candidates who have little time to prepare for the exam, our L4M5 exam dumps will be your best choice. With experienced professionals to edit, L4M5 training materials are high-quality, they have covered most of knowledge points for the exam, if you choose, you can improve your efficiency. In addition, we have a professional team to collect and research the latest information for the L4M5 Reliable L4M5 Braindumps Book & L4M5 Valid Test Labs
CIPS L4M5 Commercial Negotiation 2 Exam Materials. Free update for one year is available, and the update version for L4M5 material will be sent to your email automatically. CIPS L4M5 Exam Syllabus Topics: Topic testpdf.com Details • Macroeconomics and its influence on commercial negotiations • Contrast the economic factors that impact on commercial negotiations • Team management and the influence of stakeholders in negotiations • Definitions of commercial negotiation • How behaviours should change during the different stages of a negotiation • Compare the key communication skills that help achieve desired outcomes • Setting targets and creating a best alternative to a negotiated agreement (BATNA) • Collaborative win-win integrative approaches to negotiations • Organisational power: comparing the relative power of purchasers and suppliers • Explain how the balance of power in commercial negotiations can affect outcomes • Costing methods such as absorption, marginal or variable and activity based costing • Know how to prepare for negotiations with external organisations • Differentiate between the types of approaches that can be pursued in commercial negotiations • Distributive win-lose, distributive approaches to negotiation • 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 1 Topic 2 Topic 3 Topic 4 Topic 5 Topic 6 Topic 7 Topic 8 CIPS Commercial Negotiation Sample Questions (Q51-Q56): NEW QUESTION # 51 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. No,holding back information will prompt the supplier gain higher negotiation power B. Yes, the buying organisation must maximise its gain, even at the detriment of the other party 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 Reliable L4M5 Braindumps Book & L4M5 Valid Test Labs
CIPS L4M5 Commercial Negotiation 3 because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result. NEW QUESTION # 52 Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply. testpdf.com A. Be honest and objective about your skills B. Use generalised or ambiguous language when describing your strengths and development areas C. Gloss over areas where you need to improve your skills or performance D. Be overly modest about your contribution to the outcomes of negotiation E. Identify areas in your skill set where you need to improve Answer: A,E Explanation: Giving positive group and individual feedback is easy, as is self-congratulation and, in many cases, it is hoped, this will be an accurate reflection on actual performance. When it comes to developmental or difficult feedback, it is only natural to want to move on and not reflect on the negative or developmental points, or why a negotiation did not achieve its objectives. But this is a mistake. The best learning opportunities come from reflection on what could be done better, and this can beachieved without blame, threat or condemnation. Everyone and every team will make mistakes and/or have areas where they could have improved. Clearly, if every reflection session concludes that an individual or team keeps making the same mistake, then thereis a case to change roles or consider alternative approaches. About Dos and Don'ts of reflection, you can refer here: https://offices.depaul.edu/human-resources/employee-relations/Documents/Self%20Assesement.pdf NEW QUESTION # 53 Representatives from South African Department of Health is negotiating the price of hospital drugs with US pharmaceutical companies. Which of the following are most likely to be macro factors that influence the outcomes of the negotiation? Select TWO that apply. A. Digitalisation of medicine B. Forward integration C. Order quantity D. Regulations on health and safety Switching costs of buyer Answer: A,D 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 forceswhich both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business: Reliable L4M5 Braindumps Book & L4M5 Valid Test Labs
CIPS L4M5 Commercial Negotiation 4 Table Description automatically generated testpdf.com Particularly, pharmaceutical industry is a heavily regulated sector, therefore, legal and regulatory matters in theindustry is highly important. Otherwise, technological trends also permeate into pharmaceutical companies, technologies like digitalisation may transform the balance of power in such negotiation. LO 1, AC 1.3 NEW QUESTION # 54 During a negotiation, the supplier requests for payment term shortened to 45days from 60 days. Seeing that this proposal lies within the concession plan, the procurement manager asks for 5% discount in return. Is that right thing to do? A. No, procurement should insist the payment term remains 60 days B. Yes, the procurement manager should keep that 5% for himself because that amount is a fair compensation for his effort C. No, it is unethical to exploit the weakness of the other party D. Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status Answer: D Explanation: Explanation When preparing for a negotiation, negotiator should establish a list of tradeables and a concession plan. Good negotiators never give anything away that has not already been planned as part of the bargaining mix in the concession planning stage. In the above scenario, the procurement manager has planned his own concession, so he can trade with supplier. The answer should be "Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status" Table Description automatically generated Reliable L4M5 Braindumps Book & L4M5 Valid Test Labs
CIPS L4M5 Commercial Negotiation 5 testpdf.com LO 2, AC 2.3 NEW QUESTION # 55 Which of the following are most likely to harm trust between buyer and supplier in a commercial relationship? Select TWO that apply. A. Avoidance of submitting important documentations B. Subjective assessment of performance C. Reduced response time during contract performance D. Exploring a disagreement to learn from each other's insights E. Resolving some conditions that would otherwise have them competing for resources Answer: A,B Explanation: Explanation Trust-destroying behaviours: - Rumours of partnership or relationship breaking down - Emotion-based assessment of performance - Avoiding accountability, passing the blame to others - General mood - resentment, distrust,frustration, etc LO 1, AC 1.4 Reliable L4M5 Braindumps Book & L4M5 Valid Test Labs
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