Trust Factor


Added on  2019-09-30

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Negotiation Assessment(Standard Chartered Bank)Student Name: Student ID: Course Name: Course ID:Faculty Name: University Name:
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Question #1Existing Process of Choosing NegotiatorsThe selection of the negotiators within the Standard Chartered Bank considers four to five determiners which should be present within an individual. The experience of prior negotiation is the first and most important element as it is necessary that the negotiator has been in various negotiation settings important for the organization. Another determiner is negotiation skills. Proficient negotiation skill along with the orientation towards collaboratingwith other individuals on the team is the key for their selection. Moreover, the communication skills of the negotiators are also considered. The individual should be able to analyse the situation. The ability to easily capture the idea behind particular negotiation and identifying the actual objective that is to be achieved by a negotiation is also important criteria for the selection of negotiator in this bank.Recommendations for ImprovementsThe current determiners for the selection of the negotiators within the bank seem appropriate.However, there are some other criteria that should be considered also to ensure that the right negotiator has been selected. The negotiator should have thorough understanding of the need of the party which s/he is negotiating (Williams, 1993). The acquaintance with the issue is an important element in making decisions that are favourable; else the negotiator might end up with the conclusions that lead to the failed negotiation results. Apart from these, the negotiator must showcase professionalism. The presence of confidence and an image that attract attention can be the key to influence other party. Also, control over own emotion whileengaging in any form of communication is also a recommended skill for negotiators.Existing Process of Training Negotiators
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The individuals who brought within the bank environment are expected to be good at the negotiation skills due to the strong selection process. Therefore, the training procedures of thetraining negotiators cover only basic need such as the information about the situation, what is expected from them after the negotiation process, what will be the compensation after each negotiation activity, and the level of failure that is acceptable or unacceptable. The individuals are also briefed on the facilities that can enjoy within the organization while working on the various negotiation activities. The focus on leading the negotiation could be witness in ample amount in the current training processes.Recommendations for ImprovementsThe process of training the negotiators is not extensive and robust within this organization and the reason behind is that the management has the understanding that the negotiators should be capable enough to handle various situations and thus will not require any training. However, this is not the case always as brushing of skills from time to time is the key to keeping the skills ready for the different situations (Hawrysh & Lynne Zaichkowsky, 1990). Therefore, it is recommended that the negotiators hired for the company should be subjected to simulation projects that are typical to the banking environment. This can help the negotiators in focusing on the area that need to be developed for this particular setting. Apart from that, the training program should include intense activities that can stretch the negotiators from their current skills. Question #2Negotiation Process OutlineThis organization generally utilizes five aspects while engaging in any negotiation process. The first aspect is the preparation and planning for the negotiation which will take place. The
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