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Which of the following statements about oligopoly is incorrect?
Which of the following statements about oligopoly is incorrect?A . A few firms play an important role in the sale of a productB . Oligopolistic firms recognize their interdependenceC . One firm's behaviour is a function of what its rivals doD . Prices in oligopoly are predicted to fluctuate widely...
Which of the following are macroeconomic factors that may have influence to the commercial negotiation? Select TWO that apply
Which of the following are macroeconomic factors that may have influence to the commercial negotiation? Select TWO that applyA . Equilibrium priceB . Supply curveC . Unemployment rateD . Bargaining power of supplierE . Rising import tariffsView AnswerAnswer: C,E Explanation: There are many macro economic factors that could influence procurement...
Which of the following is considered a weakness of a ‘dealer’ style negotiator?
Which of the following is considered a weakness of a ‘dealer’ style negotiator?A . May shift position quicklyB . May be too assertiveC . Focuses on the facts and not the peopleD . Very preciseView AnswerAnswer: A Explanation: A useful and simple shorthand for preferred negotiation styles is summarised by...
Which of the following will be the objective of XYZ procurement team in this negotiation?
After studying Thomas-Kilmann conflict resolution model and considering different approaches carefully, the procurement team of XYZ Ltd. decides to adopt an avoiding approach to the upcoming negotiation with one of their suppliers. Which of the following will be the objective of XYZ procurement team in this negotiation?A . Yielding the...
Which of the following is the area where two or more negotiating parties may find common ground?
Which of the following is the area where two or more negotiating parties may find common ground?A . Zone of potential agreementB . Zone of proximal developmentC . Walk away areaD . Best alternative to a negotiated agreementView AnswerAnswer: A Explanation: The zone of possible agreement (ZOPA) orbargaining range is...
In a commercial negotiation, a procurement professional believe that the larger the order quantity from buyer, the lower the supplier's average costs. Is this assumption true?
In a commercial negotiation, a procurement professional believe that the larger the order quantity from buyer, the lower the supplier's average costs. Is this assumption true?A . No, because supplier's average costs will rise as the buyer's demand increasesB . No, because the supplier may need to invest in new...
Which of the following best describes Leverage quadrant in Kraljicmatrix?
Which of the following best describes Leverage quadrant in Kraljicmatrix?A . Low risk, high importanceB . High value, high complexC . Low risk, low importanceD . High complex, low importanceView AnswerAnswer: A Explanation: In 1983, Peter Kraljic devised a means to segment the supplier base in the article in HBR....
Is this assumption true?
It may be more difficult to buy on a credit from supplier who locates in a country with a hyperinflation? Is this assumption true?A . No, because supplier's bank will take risks from currency fluctuationB . Yes, because thesupplier's currency will lose its value overtimeC . Yes, because buyer has...
A procurement professional is negotiating with a supplier on cleaning service. She realises that there are huge cost-saving opportunities if the supplier agrees to reduce its mark-up and unnecessary employee benefits. Supplier's mark-up and employee benefits are examples of which of the following?
A procurement professional is negotiating with a supplier on cleaning service. She realises that there are huge cost-saving opportunities if the supplier agrees to reduce its mark-up and unnecessary employee benefits. Supplier's mark-up and employee benefits are examples of which of the following?A . Spend waterfallB . Spend cubeC ....
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.A . Framing and reframingB . RatificationC . Pacing and leadingD . ValidationE . Role ethicsF . AnchoringView AnswerAnswer: A,C,F Explanation: The question asks about negotiation techniques which are not present in the book. In this question,...
