Effective Business Negotiation Strategies
Added on 2020-10-05
13 Pages4125 Words184 Views
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BUSINESSADMINISTRATION7
Table of ContentsINTRODUCTION ..........................................................................................................................1MAIN BODY ..................................................................................................................................11.1 The requirements of a negotiation strategies........................................................................11.2 The use different negotiation techniques..............................................................................11.3 Research on the other party can be used in negotiation........................................................21.4 Cultural difference might effect negotiation.........................................................................32.1 identify the purpose, scope and objectives of negotiation....................................................32.2 The scope of their own authority for negotiating.................................................................42.3 Preparation of negotiation strategies.....................................................................................42.4 Prepare fall-back stances and compromises that align with the negotiating strategy andpriorities......................................................................................................................................52.5 Asses the likely objectives and negotiation stances of the other party.................................52.6 The strength and weakness of other parties..........................................................................63.1 Negotiation within responsibility limits in a way that optimises opportunities....................73.2 Adopt the conduct of the negotiation in accordance with changing circumstances..............73.3 Maintain accurate records of negotiation, outcomes and agreements made.........................83.4 Adhere to organisational policies and procedures, and legal & ethical requirement whencarrying out business negotiation................................................................................................8CONCLUSION ...............................................................................................................................9REAFREENCES ...........................................................................................................................10
INTRODUCTION Business administration is an underlying of any excellent business structure. Thrivingbusiness needs sound administration process in place and people complete for implementingfunctions process successfully. Its a process of organising the business personnel and resourcesto meet business goals and objectives. This report is upon Marks & Spencer which is Britishmultinational retailer headquarters in Westminster, London. They are specialised in sellingcloths, home products and luxury food products. This report includes requirements of negotiationstrategies, the techniques used in negotiation, effect upon negotiation die to different cultures.Purpose, scope and objectives of negotiation and preparation of negotiation strategies. Conductof negotiation in accordance with different circumstances, records as well as outcomes,organisational polices, legals and ethics requirement in negotiation. MAIN BODY 1.1 The requirements of a negotiation strategies.It's a method by which organisation settles differences, in this comparisons are made bywhich disputes as well as arguments can be avoided. These negotiation tactics help to solveproblems, ease tension and build consensus in the workplace. If strategies are not formedproperly within a set time period negotiation strategies are formed so that conflicts as well asdisputes are been able to controlled. The negotiation agreement is between organisation and theirsuppliers (Alvarez, ed., 2016). Its a process when a buyers sees the prices and expected to getsome negotiating when buying products. In this people use to pay more, if they don't know theway of bargaining. Through this strategies compromise between supplier and organisation can beconsistent. As for competing strategies are formed in which people think which type approachwill be applied while implementing negotiation strategies. Yielding is a situation which is notimportant for the parties but it is important for other party. This will solve issues and problems inadvance, so that at transaction time no disputes will be generated. These strategies are essentialfor organisation to form in advance so that organisation can control problems while goingbusiness with suppliers. 1.2 The use different negotiation techniques.It' refers to styles used among the individuals of an efforts to come to a conclusion bywhich all parties which are involved get satisfied. In negotiation people extremely understands1
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