EXAM L4M5 LABS - L4M5 STUDY MATERIALS REVIEW

Exam L4M5 Labs - L4M5 Study Materials Review

Exam L4M5 Labs - L4M5 Study Materials Review

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Tags: Exam L4M5 Labs, L4M5 Study Materials Review, New L4M5 Exam Prep, L4M5 Reliable Test Sample, L4M5 New Dumps

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To stay updated and competitive in the market you have to upgrade your skills and knowledge level. Fortunately, with the Commercial Negotiation (L4M5) certification exam you can do this job easily and quickly. To do this you just need to pass the Commercial Negotiation (L4M5) certification exam. The Commercial Negotiation (L4M5) certification exam is the top-rated and career advancement CIPS L4M5 certification in the market.

CIPS L4M5 Commercial Negotiation exam is essential for procurement professionals who want to advance their careers in the field. A passing grade in L4M5 exam demonstrates that the candidate has a solid understanding of the negotiation process, can develop effective negotiation strategies, and apply appropriate tactics to achieve the desired outcome. This knowledge is valuable in a variety of procurement and supply chain roles, including contract management, vendor management, and strategic sourcing.

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CIPS Commercial Negotiation Sample Questions (Q99-Q104):

NEW QUESTION # 99
An organisation is developing the specification for a capital purchase project. An important stakeholder has doubt on the draft specification. The buyer invites him to the product function meetings. In these meeting the attendees can raise their concerns, the specification development team takes in all the concerns and adjusts the specification accordingly. What kind of technique is the specification development team using?

  • A. Coalition
  • B. Directive
  • C. Visionary
  • D. Persuasive reasoning

Answer: A

Explanation:
:
In the scenario, anyone who has concerns can join a meeting to raise their thoughts. The project team takes the stakeholders' ideas into account. This is known as coalition: A group of people or organisations come together and work collaboratively to achieve some goals. Specifically in this scenario, the goal is creating a high-quality and unified specification for an important project.


NEW QUESTION # 100
When is the best time for buyer to propose the negotiation agenda to potential supplier?

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

Answer: D

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 # 101
Which type of question should be used to receive affirmation on statement?

  • A. Leading
  • B. Open
  • C. Closed
  • D. Narrow

Answer: C

Explanation:
Different questioning styles can be used to elicit desired responses:
Text Description automatically generated


NEW QUESTION # 102
Which of the following are microeconomic factors? Select THREE that apply.

  • A. Distribution channels
  • B. Unemployment levels
  • C. Availability of investors
  • D. Rates of inflation
  • E. Levels of competition
  • F. Rates of taxation

Answer: A,C,E

Explanation:
Microeconomic factors refer to elements that affect individual businesses or sectors rather than the economy as a whole. In this case:
Availability of investors (B): Access to investors impacts capital availability for businesses.
Distribution channels (D): Distribution methods directly influence a business's ability to get products to market.
Levels of competition (F): Competition affects pricing and strategic decisions within specific industries.
Taxation rates, unemployment levels, and inflation rates are considered macroeconomic factors, affecting the economy on a broader scale, as per CIPS's definitions of microeconomic vs. macroeconomic influences.


NEW QUESTION # 103
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

  • A. Insurance for production lines
  • B. Senior management salary
  • C. Scrap metal
  • D. Coal
  • E. Cleaning services
  • F. Hourly production wages

Answer: C,D,F

Explanation:
:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costs including the following:
Materials and services bought-in: In steel manufacturer, raw materials are iron ores, scrap metal, coals, etc Labour or wages: money paid to staff for the work involved in producing the product.
Other expenses: other charges incurred that can be specifically attributed to a particular product, batch or service


NEW QUESTION # 104
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