Sample Assignment on Facebook
Added on 2021-07-02
38 Pages15494 Words104 Views
Leadership ManagementProfessional DevelopmentLaw
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IPK COLLEGELO1 Evaluate the context of a negotiation and identify the information required to prepare fora negotiationa) Company overviewFacebookis a American company which operates as an online social networking service throughoutthe world,this app allows the users to tag other users in their own content , the others function ofFacebook was Facebook messenger,Facebook story.Itwas founded in 2004 by Mark Zuckerberg,and the co-founder were Eduardo Saverin, Dustin Moskovitz, and Chris Hughes, its headquarters arein Palo Alto, California. Facebook delivered to the public in 2012 and has become one of the world'slargest companies with a market share of $507.92 and a net income of $18.5 billion on $70.7 billionof revenue.(Hall, 2019).Instagramis a American company which operates as a photo and video-sharing social networkingservice throughout the world. Instagram was founded by Kevin Systrom, Mike Krieger in 2010 .It isa photo and video-sharing social networking service that launched in October 2010 on IOS devicesafter that the service of Android devices was released in April 2012. It is a mobile app platform thatallows users to upload photos and videos to share about their daily life.In addition,the account's posts can be shared publicly or with the close followers/friend setting. Inorder to make closer friendship with sharing interactive ,this app allows the users to tag other usersin theirown content,the others function ofInstagram was IGTV,IG STORY,IG HIGHLIGHT.Instagram’s headquarters are in Menlo Park,New York and San Francisco(AboutUs • Instagram,n.d.).b) Legal structure and ownershipFacebookwasa partnership business,the founderswere Mark Zuckerberg(CEO)，EduardoSaverin,Dustin Moskovitz,and Chris Hughes,allofthere were studentsatHarvardUniversity,they were roommates while they found Facebookin their dome. Four of theseshareholdersareinvestmentmanagementcompaniesandoneisFacebookco-founder(Hall, 2019).Instagramwas a partnership business ,the founders were Kevin Systrom and Mike Krieger. KevinSystrom served as CEO for 8 years,he graduated from Stanford University, and Mike Krieger is theco-founded Instagram and served as Instagram's Head ofEngineering for8 years(AboutUs •Instagram, n.d.).c) Mission statementThe Mission of facebook isto give people the power to build community and bring the world closertogether,while theirvision is to makepeople use Facebook to stay connected with friends andfamily,to discoverwhat’s going on in the world,and to share and express whatmatters tothem(Skrabanek,2020).The mission statementInstagramis to capture and share the world’smoments,by the reason of the mission Instagram leading the world of creating visual impressionsthat make all its users with long-lasting memories(MSA, 2019).1
IPK COLLEGEP1 Determine what is a negotiation, why it occurs and who the key stakeholders areduring a negotiation process.Negotiationisthedecision-makingprocessamonginterdependentparties,thebestofnegotiation relationships that they are willing to give and take. It is a process by which compromiseor come outan agreement while avoiding argument and dispute. In addition, negotiation is a processin which two or more parties solve a dispute in the process of collaboration or misunderstanding ofbusiness affairs,and come to a finalized mutual agreement , its aim is to promote peace rather thancreate fight.Negotiation can occurin any business situation.Itoccurs when there is more than one possibleoutcome, the beneficial of profit in business, and from a situation in which two or more parties havean interest. Negotiation occurs among a buyer and seller. For example facebook company willing tospend $1 billion in cash and stock to buy instagram, the owner will need to conduct the negotiationduring the process.Business negotiations can occurbetween partners in business or business owner with customers,inter-departmentalorteam discussions inside the company in orderto determine and clarify thesameaims, identify the process of task and allocate the limited resources. In addition, it can occurduringmanagementand staff,oreven the discussions between collaboration from a company tooutsidesuppliers.Moreover,itcan happen when discussions between managementand tradeunions,forexample, thedispute of wages, and during the recruitment and selection process fromHR manager with the candidate to the business until the interviews session(Michael, 2007).Besides, both business relationships will determine through the process of negotiation. A successfulbusiness depends on having good negotiation skills. In order words, personal negotiation was veryimportantduring businessnegotiations.Forexample,the Facebook company negotiating withInstagram and agreed to become a business partner in 2012,they have the good negotiation skilltherefore they can join together without any dispute or legal problem during negotiation and knownboth of them have many users as their company advantage and strong capital base in order to maketheir business journey smoothly.Another example,Mark Zuckerberg was a very good model as a negotiator because he promised toInstagram thatbuild and grow Instagram independently,and provide the service that not share theInstagrams on Facebook, while to have followers and follow people separately from the friends onFacebook(Contributor, 2012).
2IPK COLLEGEStakeholderis someone with a vested interest into a business. Either they have a financial stake inthe productor holding the stake in the form of money or they are responsible for the output,itislegal.For example,before 2012 there were only 27 million registered instagram because Instagramwasonly open for the IOS users, after Instagram for Android launch, Instagram was going to get to50 million registered users in the first 24 hours.In addition,Facebook boughtInstagram,they attracted more users to increase their position as asocialnetwork,not just a photo-sharing app and some users were doing more of the daily sharingactivities on Instagram rather than using Facebook.Besides,thestakeholdercan bethecustomeralso forexample,the stakeholderduring thecollaboration the Facebook and Instagram company,the stakeholders were the customers of bothparties, because the facebook owner Mark Zuckerberg promise the all parties customer for buildingthe best experience for sharing photos offer the best experiences for sharing beautiful mobile photoswith people(Contributor, 2012).* Student able to determine what is a negotiation, why it occurs and who the key stakeholders areduring a negotiation process.
3IPK COLLEGEP2 Evaluate the key steps and information required for negotiating and generating deals.Stage 1: PreparationBefore starting negotiation with another party, one must have to start the preparation, this is the mostimportant step for a negotiator because aware and reduce the potential of the conflict, for example,tounderstand the history of the people involved and their perception of the conflict expectationsfrom the negotiations.In addition, the first stage in a negotiation process relates to planning and preparation. It is also thestage thatthe party decides who is the objective,whatare the minimum expectations,how muchthey will spend and who they are going to proceed the negotiation. Preparation is instrumental to thenegotiation process more smoothly,because as a negotiator that being well-prepared can make thenegotiator become more confident during the negotiation.Preparations for the negotiations consistof collecting relevantinformation,obtaining the requiredauthority or permission and trying to understand the background / history of the objective, havingintense discussions and collecting details of the previous negotiations on similar issues and even to
sketch the question that need to be asked during the process of negotiation.Stage 2: Opening PhaseIn this step,is the beginning of defining the ground rules and procedures with the other party overthe negotiation itself that will do the negotiation. Also, the two parties come face to face. Each partytriesto make a first impression to another party and influence their thinking at the first opportunity,and impression.This phase is important because it involves both negotiating parties presenting theircase to each other.However,opening consists of two phaseswhich is the rapportbuilding and probing.Firstly,therapportbuildingis the process ofknowing each other,two parties are going to sittogether tonegotiate. Therefore, introductions need to come out, and names and backgrounds are noted.Probingmeans each party tries to know abouteach other and provide the prepared open-endedquestions.They get to know the needs and expectations of one another, and they often will ask thequestion straightto the point.The more they listen and survey,and they will appreciate the otherparty’s stand orposition.For example the question was “whatdo you suggest”,‘whatis the timeframe for the company..Stage 3: Bargaining PhaseIn this stage,the negotiation process was to enter the actual give and take in trying to hash out anagreement.During the bargaining phase is to come closer to the objective thatintention. In orderwords, the two parties will ask lots of questions because they are more interesting for the same aim,such as the product and service. It is the stage when the negotiating teams really sit down and talk itout.Therefore,usually in this step the dispute and argumentwillform because ofthe differentposition,mind set,and viewpointbutitwillneed to depend on the differentculture,lifestyle ormaybewill happen the misunderstanding of expression such as the different language and the wayof talking.4IPK COLLEGEBargaining is aboutthe process of discussion aboutgive and take.Each party will be prepared torecognize something and provide what will be gained for the desire. In addition, in this step, it needsto be logicalin one‘sapproach and frame itclearly and sometimes need to prepare forthearguments.When both the parties are tough negotiators, deliberations become more challenging andprogress becomes slow.Stage 4: Closure PhaseThis is the final step in the negotiation process, it is formalizing the agreement that has been createdand developing and procedures that are required for implementation and monitoring In order words,the closing phase of a negotiation represents the opportunity to capitalize on all of the work done inthe earlier phases.The settlement stage and work the closure which means the negotiating parties come to the stage ofsettlementor agreement.The finalterms as agreed transfer into document and the agreement getssigned.It also involves the agreement that is represented in which both parties formalize in a written
contract.Moreover,reviewing the negotiation is as importantas the negotiation process itself.Therefore,it was necessary to take the time to review each element and find out which process wasgoing well and figure out if anything needed to be improved.Negotiations often are compromises and sacrifices.Neitherparty should acceptthatnoteverynegotiation will go smoothly as totally as per their expectations by the expect a settlement or deal.Inaddition, a good negotiator views the consequences in the proper perspective and takes the gains andcompromises as the opportunity and challenge to enhance their own negotiation skill(Characteristicsof Negotiation and Steps of Negotiation Process | Management Study HQ, 2013).Thekey steps of negotiating for generating deals and winning new dealswhich is toknow yourcustomerbecause if a companygets to know their customer, they can target them as interestedcustomers and improve the ability to win new customers, while expanding the future marketopportunity.For example, tounderstandbased of theage, geographic location, education leveland job title of the customer.Besides, toincentivize existing customersit refers toreward the existing customersuch asgivingthe discount price of the products and servicebecausethe best ambassadorsof thebusiness arethe existing customers,their function is tointroduce the product and service to the family andfriends,therefore,itwillincreaseto thesaleofthe products and services,raisethecompanygrowth,and tomeet diversity customerwhileexplore various preference.In addition, is thenetworkingit refers to build the relationship betweencompany and customer.A company can connect to them throughsocial media ,because it is the fastest and most effectiveway tounderstand the customer needs and wantswhilebringing more related new customersand expanding the distribution network.5IPK COLLEGEBesides,is toexplore different pricing models.This method allows all the marketers toexploredifferentpricing models for every single targetmarket,in order tofulfillthe satisfactionofeverycustomer throughoutthe world, because different customers have different perspectives andmindset.In addition,a company should alwaysoffer a cheaper pricetoattract the customer’sattention, tocompetewith the competitor, tomaintain loyaltyfrom the customer to the companywhile it canreinforceable the customer basefor the company sustainably in the long term.*students able to the key steps and information required for negotiating and generating deals.
6IPK COLLEGEM1 Present a concise rationale for the negotiation process, including detailed steps thatorganisations go through during a negotiation process and the information required inpreparation.Therationaleofthe negotiation process because itcan help the negotiator toidentify and planeverystepfor negotiation,plan before failand failbefore plan,such as to theway to solve theconflict,risk management,to understand thecross-culture behavior and languageduring thenegotiation process in order toprohibition of happening any worst outcomelikebias.It also canguidethe bothparty during thedispute,because before the closure phase forrunning overallnegotiation process
was required the both parties to sittogether anddiscussand come out a solution therefore, it canmake both parties tounderstand each other slowly, andimprovethenegotiation skill, it beneficialthe both negotiator incurrently and future negotiation.Stage 1: PreparationBefore starting negotiation with another party, one must have to start the preparation, this is the mostimportant step for a negotiator because aware and reduce the potential of the conflict, for example,tounderstand the history ofthe people/organization involved and itis related to planning andpreparation.Itis also the stage thatthe party decides who is the objective,who they are going toproceed the negotiation and what are the minimum expectations, how much they will spend.Preparationsforthenegotiationsconsistofcollecting relevantinformation,and trying tounderstand the background /historyof the objective,having intense discussions and collectingdetails ofthe previous negotiations on similarissues.For example,Mark Zuckerberg (FacebookCEO)before decided to spend money forpurchases on Instagram,they try tounderstand thehistoryand thepeople inside Instagram companystart from 2011,which is theco-founders wereKevinSystrom and Mike Kriegerwhile the companyonly has 13 employees.The reason whyMarkZuckerberg need to know the owner of Instagram is because he can realise who is going toproceed the negotiation together.In addition,the expectation is depend on the greatrevenue potentialofInstagram withmanyopportunities to get public attentionand other tools that match with Facebook. Also, Facebook islikelyhoping Instagram can grow into its fourth billion-user platformthatcan beyond theexpectations from Facebook itself,and Messenger while Facebook also hopes Instagram can standas the backbone for helping Facebook to grow in the future.Moreover, Facebook is willing to spend$1 Billiontomake a deal with Instagram, in order to gainphoto sharing service. In addition, in the aspect of collecting the related information on instagram, itwassuperior as a social network platform for phone devicesand it had a very good interface tothe user. In addition, it was the preference of morecelebritiesto contain the expansion potential toattractnew users.Besides,Instagram had the potentialto become one ofthe competitors toFacebookin the future therefore itis a beststrategy forbuying instagram while avoiding theuncertainty.Furthermore,Instagram was the new trend of socialnetworks application with a fastgrowth rate of 1 million users each day and according to the analysis,Instagram enjoys more than 1billion users and surprisingly among them more than 500 million was using the feature of IG Storiesdaily, it is a competitive advantage(Malik, 2019a).7IPK COLLEGEStage 2: Opening PhaseIn this step,is the beginning of defining the ground rules and procedures with the other party overthe negotiation itself that will do the negotiation. Also, the two parties come face to face. Each partytries to make a first impression on another party and influence their thinking at the first opportunity..This phase is importantbecause itinvolves both negotiating parties presenting their case to eachother.However,opening consists of two phaseswhich is the rapportbuilding and probing.Firstly,the
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