UPDATED L4M5 TEST DUMPS.ZIP OFFER YOU THE BEST TEST QUESTION | COMMERCIAL NEGOTIATION

Updated L4M5 Test Dumps.zip Offer You The Best Test Question | Commercial Negotiation

Updated L4M5 Test Dumps.zip Offer You The Best Test Question | Commercial Negotiation

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Tags: L4M5 Test Dumps.zip, Test L4M5 Question, Exam L4M5 Registration, L4M5 Exam Questions Fee, Practice L4M5 Exam Pdf

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The Chartered Institute of Procurement and Supply (CIPS) L4M5 certification exam is designed to test the knowledge and skills of professionals in the field of commercial negotiation. Commercial Negotiation certification is recognized globally and is highly respected within the procurement and supply chain industry. L4M5 Exam covers various topics related to commercial negotiations, including negotiation strategies, legal considerations, and communication skills.

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CIPS Commercial Negotiation Sample Questions (Q46-Q51):

NEW QUESTION # 46
Ma Bell was the sole provider of landline telephone service to most of the US in 1980s. This is an example of...?

  • A. Monopoly
  • B. Perfect competition
  • C. Monopsony
  • D. Monopolistic competition

Answer: A

Explanation:
A monopoly exists when only one company can supply an essential product or service in a given region because of significant barriers to entry for any competitor. The barriers can be legal, regulatory, economic, or geographic. Ma Bell case is an example of monopoly. The company was broken up in 1982.
A monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.
Pure or perfect competition is a theoretical market structure in which the following criteria are met:
- All firms sell an identical product (the product is a "commodity" or "homogeneous").
- All firms are price takers (they cannot influence the market price of their product).
- Market share has no influence on prices.
- Buyers have complete or "perfect" information-in the past, present and future-about the product being sold and the prices charged by each firm.
- Resources for such a labor are perfectly mobile.
- Firms can enter or exit the market without cost.
Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect those of its competitors. Monopolistic competition is closely related to the business strategy of brand differentiation


NEW QUESTION # 47
When is the best time for buyer to propose the negotiation agenda to potential supplier?

  • A. At testing stage
  • B. At opening stage
  • C. At preparation stage
  • D. Atconclusion stage

Answer: C

Explanation:
A business negotiation agenda is a formal agreed upon list of goals to be achieved or items to be discussed in a particular order during a meeting or negotiation. Agendascan be formal and obvious, or informal and subtle in negotiations.
The agenda is one of the main structural elements of negotiation, in addition to such questions as site, identification of participants, and elements of timing. Together, they answer the who, what, when, and where questions. As with other aspects of negotiation, the agenda can be used either manipulatively to enhance leverage or to improve the prospects for agreement and the possibilities for mutual gain. In most cases, it will be used bothways, reflecting the nature of negotiation as a "mixed-motive" situation.
Although it can be instrumental to [research] volunteer as a sole source to write the agenda, in most cases it becomes a joint activity to construct a consensual basis for subsequent negotiation. In these situations, agenda-building becomes one of the pre-negotiation activities that set the tone for the relationship (Saunders,
1985). In other situations, the parties may engage in actual negotiation without a formal or written agenda.When this occurs, the risks and uncertainties may be high but the party who appreciates the importance of the informal agenda has a tremendous advantage.
Whether one plans it or not, during the course of negotiation the parties will discuss a finite set of issues in some sequence and from a particular perceptual framework. Consciousness of the universality and centrality of the agenda is prerequisite to guiding negotiation to a successful conclusion.


NEW QUESTION # 48
It may be more difficult to buy on a credit from supplier who locates in a country with a hyperinflation? Is this assumption true?

  • A. Yes, because buyer has more advantage if they make payment in their own currency
  • B. No, because the higher the inflation rate, the stronger the supplier's currency
  • C. Yes, because thesupplier's currency will lose its value overtime
  • D. No, because supplier's bank will take risks from currency fluctuation

Answer: C

Explanation:
If theinflation rate is running high, then obtaining credit as a buyer is normally more difficult or expensive as money in the future will be worth less than money today.


NEW QUESTION # 49
Which of the following is considered a strength of a 'logical' style negotiator?

  • A. Interrelate issues easily and make quick decisions
  • B. Methodical
  • C. Assertive
  • D. Friendly and accessible

Answer: B


NEW QUESTION # 50
Which of the following occur within the planning and preparation stage in a negotiation process? Select THREE that apply.

  • A. Making as few concessions as possible
  • B. Using questions to elicit information
  • C. Understanding the other party
  • D. Analyse the bargaining power
  • E. Narrowing the range of solutions
  • F. Defining the constituents

Answer: C,D,F

Explanation:
In the planning and preparation stage of negotiation, it is essential to build a strong foundation by understanding various factors that influence the negotiation outcome. According to CIPS resources, critical aspects of preparation include:
Understanding the other party (A): This helps in anticipating their needs, objectives, and potential negotiation styles, leading to more strategic discussions.
Defining the constituents (B): This involves identifying all stakeholders or parties impacted by the negotiation, ensuring their interests are considered when planning the negotiation strategy.
Analyzing the bargaining power (F): Understanding the relative power each party brings to the negotiation helps in setting realistic goals and predicting possible negotiation dynamics.
These elements are foundational in ensuring a well-rounded approach and enabling both parties to enter negotiations with clarity and strategy, enhancing the potential for a positive outcome.


NEW QUESTION # 51
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