Quiz 2025 L4M5: Commercial Negotiation High Hit-Rate Valid Exam Vce

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CIPS Commercial Negotiation Sample Questions (Q259-Q264):

NEW QUESTION # 259
An experienced procurement professional is developing strategies for forthcoming negotiations with her key supplier. To avoid negotiation deadlocks, she identifies the reasons why negotiations could fail. Which of the following are most likely to be reasons for negotiation failures? Select TWO that apply.

A. Both parties focus on common interests
B. Unachievable objectives were set up
C. Buyer helps to create a co-operative atmosphere
D. Underlying interests of TOP are overlooked
E. MIL objectives are well established

Answer: B,D

Explanation:
:
It has been said that most negotiations are won (or lost) at the preparation stage. Success in a negotiation cannot be claimed unless you can refer back to your objectives and show how you have achieve them. In broad terms, negotiation plans/strategies involve 4 key activities:
1. Developing and prioritising your objectives and limits
2. Seeking to understand TOP's objectives
3. Developing concession plans
4. Planning the resources and logistics required and agreeing team roles.
Questions to gain an understanding of why a negotiation failed
Did we collect and make effective use of all information available when preparing for the negotiation?
Did we set objectives for the negotiation that were stretching and achievable and established MIL objectives?
Did we determine a strategy for the negotiation?
Did the other party understand our needs correctly?
Were we aware of the underlying interests of the other party?
Were our proposals convincing enough for acceptance by the other party?
Did we explore different variables in the negotiation?
Did we fully understand all proposals?
Did we give any unplanned concessions and did we check the importance of these?
Did we focus on common interests?
Did we ask a range of questions?
Did we get answers to all our questions?
Could we answer all the questions addressed to us in a proper and positive way?
Did we summarise effectively?
Did we use different methods of persuasion in the negotiations?
Which tactics did we use and what effect did they have?
Did our negotiating team work well as a team?
Did we help to create a co-operative atmosphere

NEW QUESTION # 260
Where a market consists of a large producer of a product with high market power, it is known as:

A. An oligopoly structure
B. A monopoly structure
C. A monopolistic structure
D. A monopsony structure

Answer: B

Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis

NEW QUESTION # 261
The trust is built based on the other party's professional qualifications or proven or certified technical capability or experience is known as...?

A. Irrevocable Trust
B. Contractual trust
C. Competence trust
D. Goodwill trust

Answer: C

Explanation:
Trust is the expectation that the other party will behave in a predictable and mutually acceptable way. In inter- firm relationships, the presence and absence of trust can affect the level of cost in a relationship. The existence of trust is taught to lower the transaction cost in a relationship. Dr. Mari Sako identified taxonomy of 3 types of trust in commercial relationship, which is very useful from the perspective of procurement.
Contractual trust: Trust based on the contract with TOP. This is potentially the weakest source of trust if there is nothing else to base the trust on, but it is the quickest to establish.
Competence trust: Trust based on TOP's professional qualifications or proven or certified technical capability or experience.
Goodwill trust: Trust based on knowing TOP has your interest at heart and will not behave opportunistically.
This is potentially the strongest type of trust, but it takes the longest time to build.

NEW QUESTION # 262
In which of the following scenarios could you adopt a distributive-based negotiation approach?

A. When determining costs to incorporate a unique product into your design with the patent holder
B. When asking for changes to the provision of a strategic service provided by a monopoly supplier
C. When procuring a widely available commodity item which is not strategic to your organisation
D. When your organisation is dependent on a supplier for delivery of a large contract in the future

Answer: C

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.2 - Approaches to Negotiation

NEW QUESTION # 263
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. Core
B. Nuisance
C. Exploit
D. Develop

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 # 264
......

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