CIPS L4 Diploma

L4M5 Commercial Negotiation

Comprehensive practice questions, covering each learning outcome of the module, with correct answer explanations. Created by our expert tutors to replicate the style and content of questions you will find in your exam.

Course curriculum

  • 1

    LO|1 Understand key approaches in the negotiation of commercial agreements with external organisations

    • LO|1.1 Analyse the application of commercial negotiation in the work of procurement and supply

    • LO|1.2 Differentiate between the different types of approaches that can be pursued in commercial negotiation.

    • LO|1.3 Explain how the balance of power in commercial negotiations can affect outcomes

    • LO|1.4 Identify the different types of relationships that affect commercial negotiations
  • 2

    LO|2 Know how to prepare for negotiations with external organisations

    • LO|2.1 – Describe the types of costs and prices in commercial negotiations

    • LO|2.2 – Contrast the economic factors that impact on commercial negotiations

    • LO|2.3 – Analyse criteria that can be used in a commercial negotiation

    • LO|2.4 - Identify the resources required for a negotiation
  • 3

    LO|3 Understand how commercial negotiations should be undertaken

    • LO|3.1 – Identify the stages of a commercial negotiation

    • LO|3.2 - Appraise the key methods that can influence the achievement of desired outcomes

    • LO|3.3 – Compare the key communication skills that help achieve desired outcomes

    • LO|3.4 – Analyse how to assess the process and outcomes of negotiations to inform future practice