Vce L4M5 Exam | Latest L4M5 Exam Questions
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CIPS L4M5 exam is recognized globally as a standard of excellence in commercial negotiation. It is a valuable certification for procurement professionals seeking to improve their career prospects and demonstrate their expertise to potential employers. The knowledge and skills gained from L4M5 Exam can be applied across a range of industries and sectors, making it a versatile and valuable qualification.
L4M5 Real Exam Questions in Three Formats
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The Chartered Institute of Procurement and Supply (CIPS) Level 4 Module 5 (L4M5) certification exam is a globally recognized qualification that demonstrates proficiency in commercial negotiation skills. Commercial Negotiation certification is ideal for procurement and supply chain professionals seeking to advance their careers and enhance their negotiation skills. The CIPS L4M5 Certification is a valuable asset for professionals who want to thrive in the competitive world of procurement and supply.
CIPS Commercial Negotiation Sample Questions (Q14-Q19):
NEW QUESTION # 14
Using emotion as a technique of persuasion is ethical. Is this a true statement?
Answer: B
NEW QUESTION # 15
All of the following shift the supply of watches to the right except...?
Answer: D
Explanation:
A supply curve will slope upward from left to right showing more supply at higher prices, as illustrated in the graph below:
A movement along the supply curve will be brought about by a change in price, but a shift of the whole curve will be caused by a determinant other than price:
- The physical feasibility and time and energy required to produce the products
- Technology and innovation
- The objectives of the producers and their future expectations
- Prices of other goods and services
- Government's policies
LO 2, AC 2.2
NEW QUESTION # 16
All of the following shift the supply of watches to the right except...?
Answer: D
Explanation:
A supply curve will slope upward from left to right showing more supply at higher prices, as illustrated in the graph below:
A picture containing chart Description automatically generated
A movement along the supply curve will be brought about by a change in price, but a shift of the whole curve will be caused by a determinant other than price:
- The physical feasibility and time and energy required to produce the products
- Technology and innovation
- The objectives of the producers and their future expectations
- Prices of other goods and services
- Government's policies
LO 2, AC 2.2
NEW QUESTION # 17
Which of the following is a source of information on microeconomic factors?
Answer: A
Explanation:
The marketing and corporate communications of suppliers are direct sources of microeconomic information, particularly about individual companies and industry conditions. Other options (RPI, financial market data, etc.) are more aligned with macroeconomic data, focusing on broader economic trends, as outlined in CIPS definitions of micro vs. macroeconomic data sources.
NEW QUESTION # 18
An experienced procurement professional is developing strategies for forthcoming negotiations with her key supplier. To avoid negotiation deadlocks, she identifies the reasons whynegotiations could fail. Which of the following are most likely to be reasons for negotiation failures? Select TWO that apply.
Answer: A,B
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 # 19
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