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Pass Guaranteed CIPS - L4M5 - Commercial Negotiation–The Best Latest Braindumps Free

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CIPS Commercial Negotiation Sample Questions (Q307-Q312):

NEW QUESTION # 307
Different types of relationships impact on commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?

A. Friends power
B. Legitimate power
C. Personality power
D. Powerful colleagues

Answer: B

Explanation:
Legitimate poweris derived from theposition or authorityheld within the organisation. It supports the buyer's ability to influence negotiation outcomes based on formal responsibility, legal rights, or contractual mandates.
"Legitimate power stems from formal roles, authority or responsibility. It enables negotiators to assert terms backed by organisational policy or legal mandate." (L4M5 Commercial Negotiation, 2nd edition, Section 3.1 - Organisational Power Structures in Negotiation)

NEW QUESTION # 308
According to Dr. Mari Sako, which of the following is potentially the weakest trust to be built?

A. Goodwill trust
B. Charitable trust
C. Competence trust
D. Contractual trust

Answer: D

Explanation:
Trust is the expectation that the other party will behave in a predictable and mutually acceptable way. In inter- firm relationships, the presence and absence of trust can affect the level of cost in a relationship. The existence of trust is taught to lower the transaction cost in a relationship. Dr. Mari Sako identified taxonomy of 3 types of trust in commercial relationship, which is very useful from the perspective of procurement.
Contractual trust: Trust based on the contract with TOP. This is potentially the weakest source of trust if there is nothing else to base the trust on, but it is the quickest to establish.
Competence trust: Trust based on TOP's professional qualifications or proven or certified technical capability or experience.
Goodwill trust: Trust based on knowing TOP has your interest at heart and will not behave opportunistically.
This is potentially the strongest type of trust, but it takes the longest time to build.
Otherwise, trust also has legal meaning. A trust is a legal document that can be created during a person's lifetime and survive the person's death. A trust can also be created by a will and formed after death. Charitable trusts are trusts which benefit a particular charity or the public in general.

NEW QUESTION # 309
A procurement professional is dissatisfied with how a recent negotiation was concluded. What could they do to improve their negotiation approach?
Seek feedback from the supplier on their recent performance
Prepare for all negotiations with a WIN/LOSE (distributive) approach
Involve lots of people in future negotiations
Undertake reflective practice after each negotiation

A. 3 and 4
B. 1 and 3
C. 2 and 3
D. 1 and 4

Answer: D

Explanation:
To improve negotiation outcomes, seeking feedback from the supplier (1) and undertaking reflective practice (4) are recommended actions. Feedback from the supplier can provide insights into areas for improvement from the counterparty's perspective, while reflective practice allows the negotiator to evaluate their own approach, outcomes, and areas for growth. This approach aligns with CIPS's emphasis on continuous improvement in negotiation skills.

NEW QUESTION # 310
Buying organisation may increase its leverage with suppliers by concentrating spend. Which of the following are most likely to be forms of supplier spend consolidation? Select THREE that apply.

A. Forming purchasing consortia
B. Volume redistribution
C. Simplify procurement process
D. Paying supplier on time
E. Volume separation
F. Volume consolidation across categories

Answer: A,B,F

Explanation:
:
Buying organisation may increase its leverage with suppliers by concentrating spend. Supplier spend consolidation can take many forms as outlined below:
Vendor base reduction: straightforward reduction of number of suppliers in any category Volume pooling: pooling cross organisational requirement until your order volume is high enough to attract new bidders/additional discounts Volume redistribution: making recommendations following spend analysis to move from one supplier to another Volume consolidation across categories: certain purchase requirements may be common across a number of categories Standardisation and harmonisation of specifications: analysis of specifications and standards for a high spend purchased input, may show that there is a little difference between them and that the specification can be standardised or at least harmonised across the group or across national, regional or global operations.
Forming purchasing consortia: buyers may decide to come together and combine their purchase volumes to attract better deals.

NEW QUESTION # 311
Where a market consists of a large producer of a product with high market power, it is known as:

A. A monopoly structure
B. A monopolistic structure
C. An oligopoly structure
D. A monopsony structure

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis

NEW QUESTION # 312
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