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Langham Industries is seeking to expand its operations globally. The CEO has asked the procurement department to engage in a macroeconomic analysis for its potential new supply chain to meet organisational objectives and outcomes. Which of the following would be a source of macroeconomic data?
Published market indices are a source of macroeconomic data, as they reflect broader economic trends and provide insights into the overall market environment, which is essential for global expansion planning. Macroeconomic analysis focuses on high-level economic indicators, as recommended in CIPS's guidelines on sourcing macroeconomic data.
Which of the following are macroeconomic factors that may have influence to the commercial negotiation? Select TWO that apply
There are many macro economic factors that could influence procurement in general and commercial negotiation in particular. Below are six factors that are agreed to be fairly significant:
* Economy growth rate
* Inflation rates
* Interest rates
* Currency exchange rate
* Unemployment rate
* Protectionism
LO 2, AC 2.2
Listening is a key activity in any negotiation. Which of the following are characteristics of effective listeners?
Which of the following is categorised as fixed cost?
:
An organisation's expense can be categorised into three groups:
Fixed Costs -- costs that do not change with output.
Variable Costs -- costs that vary in direct proportion to output.
Semi-variable costs -- costs that are a combination of the above, with both a fixed and variable element.
Among the four options:
'Land rental paid in advance': This is fixed cost. The rental won't increase when the production increases.
'Additional pallet hires due to higher demand in year-end season': This can be identified as semi-variable cost (or step cost).
'Governments taxes': The taxes are often levied by a percentage of income or revenue. Therefore, it is variable
'Raw materials for next year production': This is obviously variable cost.
CIPS study guide page 79-84
Study tips: Fixed variable and semi-variable costs - AAT Comment
Active listening in negotiation includes which of the following activities?
1. Hearing
2. Interpreting
3. Rapport
4. Influence
Listening is a hugely important skill in the world of work. It's a key part of effective communication [...].
Regarding active listening, there is a model called 'The SIER Hierarchy of Active Listening'. It details four key stages required for effective listening. As with all models associated with active listening, its purpose is to help the listener be a better, more effective listener who really hears what is being said, connects with the individual with whom they are communicating and builds effective relationships.
The model is a hierarchical model meaning that each stage builds on the stage before it. While the model is sometimes used for training in the sales arena, it is helpful in all walks of life. The stages of the model are: Sensing (including hearing and watching body language), Interpreting, Evaluating and Responding.
- CIPS study guide page 171-173
- The SIER Hierarchy of Active Listening: Become a Better Listener
LO 3, AC 3.3
