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Hot Reliable L4M5 Test Online | Valid CIPS L4M5: Commercial Negotiation 100% Pass

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CIPS L4M5 (Commercial Negotiation) Exam is a highly sought after qualification for procurement professionals seeking to enhance their bargaining and negotiation skills. Commercial Negotiation certification is designed to equip individuals with the expertise needed to negotiate effectively with suppliers, contractors, and other stakeholders in the procurement process. L4M5 Exam is a globally recognized qualification, awarded by the Chartered Institute of Procurement and Supply (CIPS), which is the leading professional body for procurement and supply chain management.

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The CIPS L4M5 exam format consists of a three-hour paper-based assessment, which includes multiple-choice questions, short-answer questions, and case studies. To pass the exam, candidates must achieve a minimum of 50% marks. L4M5 exam is offered globally, and candidates can take it at any CIPS-approved test center or remotely.

The Chartered Institute of Procurement and Supply (CIPS) is a leading global professional body for procurement and supply chain management professionals. It offers a range of qualifications and certifications to support individuals in their career development and enhance their skills and knowledge. One of the certifications offered by CIPS is the L4M5 Commercial Negotiation Certification Exam.

CIPS Commercial Negotiation Sample Questions (Q18-Q23):

NEW QUESTION # 18
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply

A. These components are highly standardised
B. JCB's switching costs are low
C. Eruption of epidemic in supply market
D. Suppliers are more concentrated than buyer
E. Buyers purchase in small volumes

Answer: A,B

Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:
Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer's power:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correct because:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3

NEW QUESTION # 19
For a commercial negotiation to be effective, the organisation has to identify resources required for negotiation. Which one of the following could help?

A. Involve a team of only senior managers
B. Involve a larger team than the other party
C. Involve an appropriate cross-functional team
D. Involve a location-based team only

Answer: C

Explanation:
Involving an appropriate cross-functional team is beneficial for effective commercial negotiation because it brings together diverse perspectives and expertise relevant to the negotiation context. According to CIPS, a cross-functional team ensures that all aspects, such as technical, financial, and operational inputs, are considered, leading to more balanced and informed decision-making. This approach also helps in addressing complex negotiation elements effectively.

NEW QUESTION # 20
In addition to organisational power, personal power of each negotiator can influence the outcomes of a negotiation. A good negotiator can leverage different sources of power. Is this statement true?

A. Yes, because the good negotiator recognises his own power in a negotiation
B. No, because each person has only one superior source of personal power
C. No, because only organisational power can be leveraged during a negotiation
D. Yes, because allsources of power have similar effectiveness in every situation

Answer: A

Explanation:
Explanation
Both organisational and personal power have the ability to influence the outcomes of negotiation. Good negotiators recognises the different sources of relative personal power they possess in a negotiation. There is no one superior source of personal power; they will vary in their effectiveness based on the situation. The more personal sources available the better, even if some not used, these can be used as a fallback.
LO 1, AC 1.3

NEW QUESTION # 21
Which of the following are effective approaches when procurement professionals negotiate with monopoly suppliers?
1. Delaying payment with monopoly suppliers as long as possible to increase bargaining power
2. Setting up stronger BATNA
3. Engaging in the negotiation with a distributive approach
4. Eliminating requirements in the specification that prioritises monopoly suppliers

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

Answer: B

Explanation:
In most commercial negotiations with monopolistic organisations, one can expect that in general they will have far greater bargaining power - you will need them more than they need you. There BATNA isstronger in the short run, but over time their power can be challenged effectively.
Ways of dealing with monopoly suppliers include the following:
Making yourself an attractive buyer
Seeking out alternatives / substitutes in a private or public manner
Designing out the requirement that forces you to go to the monopoly suppliers, or seek to make the product, or threaten to make it yourself if feasible Lobbying government or campaigning, as part of an industry or trade body, for a reduction in barriers to entry that support the monopoly

NEW QUESTION # 22
Listening is a key activity in any negotiation. Which of the following are characteristics of effective listeners?

A. 2 and 4 only (Persuading and Offering immediate solutions)
B. 3 and 4 only (Paraphrasing and Offering immediate solutions)
C. 1 and 3 only (Showing empathy and Paraphrasing)
D. 1 and 2 only (Showing empathy and Persuading)

Answer: C

NEW QUESTION # 23
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