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In today's competitive industry, only the brightest and most qualified candidates are hired for high-paying positions. Obtaining CIPS Commercial Negotiation is a wonderful approach to be successful because it can draw in prospects and convince companies that you are the finest in your field. Pass the Commercial Negotiation exam to establish your expertise in your field and receive certification. However, passing the Commercial Negotiation L4M5 Exam is challenging.

CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	Organisational power: comparing the relative power of purchasers and suppliers Explain how the balance of power in commercial negotiations can affect outcomes
Topic 2	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 3	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 4	Setting targets and creating a best alternative to a negotiated agreement (BATNA) Collaborative win-win integrative approaches to negotiations
Topic 5	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web based meetings
Topic 6	Team management and the influence of stakeholders in negotiations Definitions of commercial negotiation
Topic 7	Costing methods such as absorption, marginal or variable and activity based costing Know how to prepare for negotiations with external organisations
Topic 8	Macroeconomics and its influence on commercial negotiations Contrast the economic factors that impact on commercial negotiations
Topic 9	Differentiate between the types of approaches that can be pursued in commercial negotiations Distributive win-lose, distributive approaches to negotiation
Topic 10	Analyse how to assess the process and outcomes of negotiations to inform future practice Protecting relationships after the negotiation
Topic 11	Understand key approaches in the negotiation of commercial agreements with external organisations Sources of conflict that can arise in the work of procurement and supply
Topic 12	How purchasers can improve leverage with suppliers The importance of power in commercial negotiations

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CIPS Commercial Negotiation Sample Questions (Q68-Q73):

NEW QUESTION # 68
A procurement professional is preparing for anegotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

• A. RAQSCI
• B. PPCA
• C. MIL
• D. TIMWOOD

Answer: C Explanation:
MIL criteria indicate 3 limits that negotiator should establish:
M - Must achieve: minimum target/maximum you can concede on this point; the mandatory requirement or fall back position I - Intend to achieve: realistic target you are aiming for on this point L - Like to achieve: stretch target to achieve on this point.
PPCA is purchase cost analysis
TIMWOOD indicates 7 types of waste in Lean principles
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements
NEW QUESTION # 69
Which of the following is the area where two or more negotiating parties may find common ground?

• A. Zone of potential agreement
• B. Zone of proximal development
• C. Best alternative to a negotiated agreement
• D. Walk away area

Answer: A Explanation:
Explanation
The zone of possible agreement (ZOPA) orbargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party's ideas.
The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.
There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.
Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed.
LO 1, AC 1.2
NEW QUESTION # 70
A supplier's mark-up on all products is 25%. Supplier's profit margin is...?

• A. 30%
• B. 20%
• C. 15%
• D. 75%

Answer: B Explanation:
Explanation
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LO 2, AC 2.1
NEW QUESTION # 71
Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply.

• A. Be overly modest about your contribution to the outcomes of negotiation
• B. Identify areas in your skill set where you need to improve
• C. Gloss over areas where you need to improve your skills or performance
• D. Be honest and objective about your skills
• E. Use generalised or ambiguous language when describing your strengths and development areas

Answer: B,D Explanation:
Giving positive group and individual feedback is easy, as is self-congratulation and, in many cases, it is hoped, this will be an accurate reflection on actual performance. When it comes to developmental or difficult feedback, it is only natural to want to move on and not reflect on the negative or developmental points, or why a negotiation did not achieve its objectives. But this is a mistake. The best learning opportunities come from reflection on what could be done better, and this can beachieved without blame, threat or condemnation.
Everyone and every team will make mistakes and/or have areas where they could have improved. Clearly, if every reflection session concludes that an individual or team keeps making the same mistake, then thereis a case to change roles or consider alternative approaches.
About Dos and Don'ts of reflection, you can refer here:
https://offices.depaul.edu/human-resources/employee-relations/Documents/Self%20Assesement.pdf
NEW QUESTION # 72
Which type of question should be used to receive affirmation on statement?

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

Answer: D Explanation:
Different questioning styles can be used to elicit desired responses:
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NEW QUESTION # 73
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