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How can having a best alternative to a negotiated agreement (BATNA) support the buyer in a negotiation? Select THREE options that apply.
How can having a best alternative to a negotiated agreement (BATNA) support the buyer in a negotiation? Select THREE options that apply.A . It helps to be more assertive in a negotiationB . It reduces the likelihood of accepting a poor agreementC . It guarantees a win-win outcomeD . It...
The purchasing manager has used which type of power?
A purchasing manager is having a negotiation with a supplier to extend the duration of the contract. In order to persuade the supplier to cut the cost by 10%, she promises to shorten the payment period from 45 days to 30 days for each delivery. The supplier's representative does not...
Influencing
InfluencingA . 1 and 2 onlyB . 2 and 3 onlyC . 1 and 3 onlyD . 2 and 4 onlyView AnswerAnswer: A Explanation: Listening involves both hearing (1) and interpreting (2) the information shared by the other party. Effective listening is an active process that goes beyond simply hearing...
What are the potential sources of conflict between the buyer and supplier? Select TWO that apply.
What are the potential sources of conflict between the buyer and supplier? Select TWO that apply.A . Persistent late payment of the supplier’s invoicesB . Unequal sharing of gains, risks, and costs with the supplierC . Requesting early supplier involvementD . Planning scheduled visits to the supplier siteE . Scheduling...
Undertake reflective practice after each negotiation
Undertake reflective practice after each negotiationA . 1 and 3B . 2 and 3C . 1 and 4D . 3 and 4View AnswerAnswer: C Explanation: To improve negotiation outcomes, seeking feedback from the supplier (1) and undertaking reflective practice (4) are recommended actions. Feedback from the supplier can provide insights...
What is the mark-up profit percentage earned by the supplier on this transaction?
A supplier can produce a product for $160. The supplier sells the product to their client for $240, making a profit before tax of $80 on the transaction. What is the mark-up profit percentage earned by the supplier on this transaction?A . 33%B . 159%C . 50%D . 67%View AnswerAnswer:...
Which of the following are microeconomic factors? Select THREE that apply.
Which of the following are microeconomic factors? Select THREE that apply.A . Rates of taxationB . Availability of investorsC . Unemployment levelsD . Distribution channelsE . Rates of inflationF . Levels of competitionView AnswerAnswer: B, D, F Explanation: Microeconomic factors refer to elements that affect individual businesses or sectors rather...
Which of the following is a source of information on microeconomic factors?
Which of the following is a source of information on microeconomic factors?A . Published economic indices such as the Retail Price Index (RPI)B . Data published by the financial markets and commodity markets and exchangesC . Analysis published in the mainstream and financial mediaD . The marketing and corporate communications...
situations?
The bargaining power of buyers is likely to be high in relation to suppliers in which of the following situations?A . The buyer spend is a low proportion of the supplier's revenueB . The buyer does not have the option to make as an alternative to buyC . The buyer...
When developing a negotiation approach, according to recognised theory (for example, Mendelow), how should stakeholders with high interest but low power be managed?
When developing a negotiation approach, according to recognised theory (for example, Mendelow), how should stakeholders with high interest but low power be managed?A . Minimal effortB . Key playerC . Keep informedD . Keep satisfiedView AnswerAnswer: C Explanation: According to Mendelow's Stakeholder Matrix, stakeholders with high interest but low power...
