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CIPS Commercial Negotiation Sample Questions (Q57-Q62):

NEW QUESTION # 57
Which of thefollowing should be the final step of a negotiation process if both parties cannot reach an agreement?

• A. Reflecting on performance
• B. Asking TOP for another concession
• C. Celebrating publicly about the deal
• D. Tempting TOP to reopen the negotiation

Answer: A Explanation:
Explanation
Reflecting on performance should become a natural final step in the negotiation process.
'Celebrating publicly about the deal': Public gloating, even in success or failure, if it gets back to the supplier via the press or social media, will likely damage the relationship
'Tempting TOP to reopen the negotiation': whether TOP agrees to reopen the negotiation, procurement should reflect on their achievement and what can be improved.
'Asking TOP for another concession': TOP can agree or rejectthis concession. Eventually, reflecting should be the final step. Procurement can learn a lot from reflection on performance.
LO 3, AC 3.4
NEW QUESTION # 58
Leitax is a consumer electronics firm with headquarters in the US and with a global sales presence. The company maintains seven to nine models in its product portfolio, each of which has multiple SKUs. Product life ranges from fifteen to nine months and is getting shorter. The demand planning and master planning processes at the company were ill-defined. Data relevant to forecasting were usually inaccurate, incomplete, or unavailable and the lack of objectives and monitoring mechanisms for the demand planning process meant that process improvement could not be managed. Support for supply management was equally ill-defined, as master production schedules were sporadic and unreliable and suppliers had learned to mistrust them. Leitax's newly appointedSupply chain director, Jessica realises that the "buy-in" of different functional groups was critical to the improvement of demand planning. She invites relevant stakeholders to a meeting so that they can express their opinions openly. What tactic is Jessica using?

• A. Persuasion
• B. Pressure
• C. Coalition
• D. Consultation

Answer: C Explanation:
There are nine commonly used influence tactic:
1. Rational persuasion includes using facts, data, and logical arguments to try to convince others that your point ofview is the best alternative. This is the most commonly applied influence tactic.
2. Legitimating
3. Personal appeals
4. Exchange
5. Ingratiation
6. Pressure refers to exerting undue influence on someone to do what you want or else something undesirable will occur.
7. Coalitions refer to a group of individuals working together toward a common goal to influence others.
8. Inspirational appeals
9. Consultation refers to the influence agent's asking others for help in directly influencing or planning to influence another person or group.
In the scenario, there is a problem with demand forecasting and supply chain planning in Leitax. The new Supply chain director invites the stakeholders to a meeting to find the solution. She is using coalition tactics.
NEW QUESTION # 59
Which of the following will shift the supply curve to the right?

• A. Decreased market price of substitute products
• B. Changes in customer taste
• C. New disruptive technology
• D. Increasedcustomers' disposable income

Answer: C Explanation:
Explanation
The following graph shows the factors that shift the supply curve to the left and to the right.
Diagram Description automatically generated with medium confidence

NEW QUESTION # 60
Which of the following statements about oligopoly isincorrect?

• A. One firm's behaviour is a function of what its rivals do
• B. Prices in oligopoly are predicted to fluctuate widely and frequently
• C. A few firms play an important role in the sale of a product
• D. Oligopolistic firms recognize their interdependence

Answer: B Explanation:
Explanation
An oligopoly exists when there are small number of producers that exert a significant influence in the market.
Oligopoly's main characteristics are discussed as follows:
- Interdependence
The most important feature of oligopolyis the interdependence in decision-making of the few firms which comprise the industry. This is because when the number of competitors is few, any change in price, output, product etc. by a firm will have a direct effect on the fortune of its rivals, which will then retaliate in changing their own prices, output or products as the case may be.
- Importance of advertising and selling costs
A direct effect of interdependence of oligopolists is that the various firms have to employ variousaggressive and defensive marketing weapons to gain a greater share in the market or to prevent a fall in their market share. For this various firms have to incur a good deal of costs on advertising and on other measures of sales promotion. Therefore, thereis a great importance of advertising and selling costs under conditions of market situation characterised by oligopoly
- Group behaviour
Another important feature of oligopoly is that for the proper solution to the problem of determination of price and output under, it analysis of group behaviour is impor-tant.
- Indeterminateness of demand curve facing an oligopolist
In this question, 'Prices in oligopoly are predicted to fluctuate widely and frequently' is an incorrect statement as producers in oligopoly often try to set up price. Prices fluctuate more frequently in perfect competition.
LO 2, AC 2.2
NEW QUESTION # 61
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. TIMWOOD
• B. MIL
• C. RAQSCI
• D. PPCA

Answer: B
NEW QUESTION # 62
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