L4M5 exam

The stages of commercial negotiation involve which of the following characteristics?A . Preparation, proposal, bargain, leaveB . Open, testing, bargaining, closing, revisitingC . Preparing, opening, bargaining, agreement, closureD . Opening, debating, promising, testing, disagreeing, closingView AnswerAnswer: C Explanation: The typical stages of commercial negotiation are Preparing, opening, bargaining, agreement, and...

Different types of relationships impact commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?A . Legitimate powerB . Personality powerC . Powerful colleaguesD . Friends powerView AnswerAnswer: A Explanation: Legitimate power derives from formal authority or position, giving the buyer...

Maria is a professional services category buyer within the National Health Service. Due to the severe financial budget cutbacks the National Health Service is facing, the procurement team has been tasked with achieving cost savings so that funding available can be spent on patient care. Maria plans to achieve savings...

Which of the following types of questions are likely to be the most effective to check facts in negotiations?A . HypotheticalB . OpenC . LeadingD . ClosedView AnswerAnswer: D Explanation: Closed questions are useful for verifying facts, as they prompt specific, concise responses. These questions allow the negotiator to confirm...

Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply.A . Identify areas in your skill set where you need to improveB . Gloss over areas where you need to improve your skills or performanceC . Be overly modest about your contribution...

Different types of relationships impact commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?A . Legitimate powerB . Personality powerC . Powerful colleaguesD . Friends powerView AnswerAnswer: A Explanation: Legitimate power derives from formal authority or position, giving the buyer...

According to Fiona Dent and Mike Brent, which of the following are characteristics of Push approach? Select TWO that apply.A . InspirationalB . PersuasionC . CollaborativeD . Seeking commitmentE . DirectiveView AnswerAnswer: B, E Explanation: According to the book 'Influencing: Skills and techniques for business success' by Fiona Dent and...

Which of the following would be considered appropriate influencing techniques in contract negotiation? Select TWO that apply.A . RatificationB . Rule ethicsC . Framing and re-framingD . ValidationE . AnchoringView AnswerAnswer: C, E Explanation: Framing and re-framing (C) and Anchoring (E) are powerful influencing techniques: Framing and re-framing (C): This...

Tony is undertaking a negotiation with a strategic supplier and is frustrated by the lack of progress. He proposes using threats to get what he wants from the negotiations. Is this the correct course of action?A . Yes, Tony will get what he requires from the negotiationsB . Yes, a...

Which of the following are examples of variable costs? Building and site rent Annual insurance premium Raw materials expenditure Delivery costs for materialsA . 1 and 3B . 2 and 3C . 1 and 4D . 3 and 4View AnswerAnswer: D Explanation: Raw materials expenditure (3) and delivery costs for...