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CIPS Commercial Negotiation Sample Questions (Q72-Q77):

NEW QUESTION # 72
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.

• A. Number of substitute products or services
• B. Purchasing spend volume
• C. Disruptive technologies
• D. Economic growth rates
• E. Intensity of competition in a industry
• F. Sustainability of natural resources

Answer: C,D,F

Explanation:
Explanation
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
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LO 1, AC 1.3

NEW QUESTION # 73
Which of the following is definition of elasticity of demand in microeconomics?

• A. The percentagechange in income divided by the percentage change in the quantity demanded
• B. The percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
• C. The percentage change in the quantity demanded divided by the percentage change in income
• D. Thepercentage change in price of a good divided by the percentage change in the quantity demanded of that good.

Answer: B

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
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NEW QUESTION # 74
In a commercial negotiation, a procurement professional negotiates on his company's behalf. The power of buying organisation is the only factor that influences the behaviours of the other party. Is this assumption true?

• A. No, because power of supplier is the only factor that influences the other party
• B. Yes, because buyer's brand, reputation and purchasing spend largely determine the outcomes
• C. Yes, because the outcomes of negotiation are attributable to the buying organisation
• D. No, because personal power of negotiators also attributes tothe outcomes

Answer: D

Explanation:
The assumption is false, because when aprocurement professional negotiates on behalf of his employer, he brings the power of his organisation (its brand, reputation and purchasing spend) as well his own personal power (that which is embedded within him) to the negotiation.
From a negotiation perspective, both organisational and personal power have the ability to influence the behaviours of other or the cause of event. This power is clearly core to negotiation, and of enormous important in seeking to achieve the objectives.

NEW QUESTION # 75
Stalemate is morelikely to happen if both parties trade more variables in a commercial negotiation. Is this assumption true?

• A. No, because more variables will facilitate more possible negotiated outcomes
• B. Yes, because the negotiation will last endlessly if there aretoo many variables
• C. Yes, because more variables will cause more conflicts of interest
• D. No, because the party who offers more variables will have lower bargaining power

Answer: A

Explanation:
Explanation
Negotiation variables such as price or contract length, etc arethat can be traded with TOP in a negotiation. The more variables you can identify, the better. The more variables you can identify and articulate, the lower the chances of the negotiation reaching deadlock as more possibilities are facilitated regarding more creative solutions.
Below are examples of negotiation tradeables in buying professional services:
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Table Description automatically generated

LO 2, AC 2.3

NEW QUESTION # 76
Which of the following will shift the supply curve to the right?

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

Answer: A

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 # 77
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