CHECK THE QUALITY OF THE CIPS L4M5 EXAM QUESTIONS DEMO

Check The Quality Of The CIPS L4M5 Exam Questions Demo

Check The Quality Of The CIPS L4M5 Exam Questions Demo

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Tags: Exam L4M5 Details, Test L4M5 Cram Pdf, Latest L4M5 Real Test, L4M5 Online Training Materials, L4M5 Reliable Test Duration

The Commercial Negotiation (L4M5) PDF dumps are suitable for smartphones, tablets, and laptops as well. So you can study actual Commercial Negotiation (L4M5) questions in PDF easily anywhere. TestKingFree updates Commercial Negotiation (L4M5) PDF dumps timely as per adjustments in the content of the actual CIPS L4M5 exam.

CIPS L4M5 certification exam is a valuable qualification for procurement and supply chain professionals seeking to advance their careers and enhance their negotiation skills. Commercial Negotiation certification provides professionals with a comprehensive understanding of commercial negotiation and equips them with the skills and knowledge needed to excel in their roles. The CIPS L4M5 certification is recognized globally and is highly valued by employers, making it an excellent investment for professionals looking to boost their careers.

The CIPS L4M5 Exam consists of two parts: Part A and Part B. Part A is a multiple-choice exam, which assesses the candidate's understanding of the theoretical aspects of commercial negotiation. It covers topics such as negotiation planning, negotiation styles, tactics and strategies, and the legal and ethical aspects of negotiation. Part B is a written exam, which tests the candidate's practical skills in negotiating complex commercial agreements.

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CIPS Commercial Negotiation Sample Questions (Q268-Q273):

NEW QUESTION # 268
Which of the following is NOT a barrier to entry in amonopolized market?

  • A. The government gives a single firm the exclusive right to produce some good
  • B. A key resource is owned by a single firm
  • C. A single firm is very large
  • D. The costs of production make a single producer more efficient than a large number of producers

Answer: C

Explanation:
Monopolies exist in many markets in real life for very different reasons:
Ownership of a Key Resource: When one company exerts sole control over a resource that is necessary for the production of a specific product,the market may become a monopoly. For example, the only medication deemed acceptable to treat a disease comes from a particular ingredient X, and knowledge of this ingredient X is owned by a single family owned company. The company can, therefore, be saidto have a monopoly over ingredient X that is needed to cure the disease because it is the only company that can produce a product deemed acceptable.
Government Franchise: In certain instances, a monopoly may be explicitly created by the government if it grants a single company, whether private or government-owned, the right to conduct business in a particular market. For example, when a national railways transportation service is created by the government, in most cases they are granted a monopoly on the operation of passenger trains in the country. As a result, other firms are only able to offer passenger train services with the cooperation and/or permission of the government-owned provider.
Intellectual Property Protection: Extending intellectual propertyprotection to a company in the form of patents and copyrights is yet another way in which monopolies are created. When a government does this, it is in fact giving a single company an exclusive right to provide a particular product / service to the market. Patents and copyrights work in providing owners of intellectual property with the right to act as an exclusive provider of a new product for a specific length of time. This creates a temporary monopoly in the market with regards to new products and services.
Natural Monopoly: A market may also become a monopoly simply because it may be more cost-effective for one company to serve the whole market than to have several smaller firms in competition with one another. A company with virtually unlimited economies of scale is referred to as a natural monopoly. Such firms become monopolies due to their position and size, which makes it impossible for new entrants in the market to compete price-wise. Natural monopolies are common in industries with high fixed costsand low marginal costs of operation such as providers of television, telephone, and internet services.
In this question, 'A single firm is very large' is not enough to tell whether this market is monopolistic.


NEW QUESTION # 269
A buying organisation with a low spend and the reputation for paying late might be viewed by a supplier as which of the following?

  • A. Develop
  • B. Nuisance
  • C. Core
  • D. Exploit

Answer: B

Explanation:
To answer this question, you should know The seller's perspective as in 'How to Negotiate Professionally':
In the scenario, the buyer's spend is low, while they seem unattractive to seller (as they tend to pay late). So the buyer is classified as Nuisance in seller's perspective.


NEW QUESTION # 270
Which type of power is considered the opposite of coercive power?

  • A. Expert power
  • B. Informational power
  • C. Reward power
  • D. Referent power

Answer: C

Explanation:
The coercive power comes from the belief that a person can punish others for non-compliance. It can be considered as opposite to reward power, which results from one person's ability to compensate or reward another for compliance.
LO 1, AC 1.3


NEW QUESTION # 271
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. Collaborating
  • B. Avoiding
  • C. Compromising
  • 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 # 272
According French and Raven's base model, which of the following are sources of personal power that can be used in commercial negotiation? Select THREE that apply.

  • A. Expert power
  • B. Trademark power
  • C. Competitive power
  • D. Purchasing spend power
  • E. Coercive power
  • F. Legitimate power

Answer: A,E,F

Explanation:
:
A useful model of personal power that has survived the test of time and provide a simple way to analyse negotiation in French and Raven's Power Base Model, which describes six bases of power:
Diagram Description automatically generated


NEW QUESTION # 273
......

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