Report on Negotiation In The Business Environment Assignment

Paper Topic
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Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Discuss the Importance of negotiation in the business environment...........................................3
Describe the features and use of different approaches to negotiation.........................................3
Determine the components of negotiation tactics........................................................................4
Determine the limitations and benefits of different information systems...................................5
Describe that how to monitor the use and effectiveness of information system.........................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
This paper will discuss about the negotiation process which important for business
environment. it will discuss about different features and use of negotiation approach effectively.
It will consider the different components of negotiation tactics that could implement in the
business process as per situation. Furthermore, it will describe the limitation and benefits of
information system and how it will monitor the use and effectiveness of information system.
MAIN BODY
Discuss the Importance of negotiation in the business environment.
Negotiation is a process by which compromise the agreement between one or more people while
they are avoiding and dispute. The importance of negotiation is mainly used to resolve conflict of
all type in the business culture and environment. It is one of the common alternatives to handle
dispute and resolution, it only context of international business but also help for resolving the
interpersonal disagreements (Khan and Ebner, 2019).
In business environment, many times where negotiation process is required because
without negotiation, it will chance to create conflict among people and another reason to use the
process of negotiation for avoid disagreement and reach them without any communication
barriers. Negotiation is an essential for business environment which provide the greater
opportunities for individual where they can build or maintain the internal relation at workplace.
In this way, it makes the enterprises more smoothly. For Example- In the organization, when
peoples are spending a lot of time and try the other person to do what they can do and how reach
to the agreement. In this way, business workflow can be maintained in proper manner.
The standard process of negotiation may include: preparing for meeting and negotiate
take place. It helps for planning the strategy and approach to handle the business operations.
Every approach must be depending on third part where they can discuss about the requirements.
In this scenario, negotiation process is helping to handle challenges during execution.
Afterwards, each party always try to negotiate with other one and generate win-win outcome. It
only possible by resolving issues and comprising at the time of discussion.
Describe the features and use of different approaches to negotiation.
Negotiation skills are important for business purpose in both formal and information in
day to day activities. Being a good communicator, in which require the negotiate ability such as
preparation, active listener, preparation and verbal communication etc. In this way, A good
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negotiator must prepare the individually before meeting or any situation in order to reach their
specific results and outcomes. In this way, it easily analyses the issues, which discuss and
determine the agreement of business in two different parties.
There are different types of approaches to the negotiation and it also depend on the
approach taken because the results show different at every time (Staley and Barron, 2019).
Distributive approach: This approach is based on when one or more parties always try
to claim the large amount of them. It is also known as win-lose approach. In business,
distributive negotiation approach is fixed the specific amount of resources which are divided
unequally into two different parties.
Compromise approach: This approach is that when two parties are interested for
creating the partnership and agreement with the smaller number of conflicts between them. This
type of approach is also known as soft bargaining where every parties will disagree or agree in
particular process.
Integrative approach: This type of approach is based on the win-win situation where its
primary aim to search the most suitable results, which are beneficial for organization. It is to be
considered the most desirable approach to negotiation.
Determine the components of negotiation tactics.
For taking the different approach of negotiation which means that multiple ways to
negotiation process used. In this way, it is an essential to understand and know about the tactics
because it helps to recognise the other tactics of another parties. As per approach, it has been
decided the most suitable tactics to handle the business situation and condition in proper manner.
The financial incentives within the company that can increase to improve the
performance of employee, they are willing to do well known about the rewards according to the
efficiency and performance of people (Goelzner, Stefanidis and Banai, 2019). This is the
simplest tactics that needed to implement in the business and gain the accurate outcome. On the
other hand, there are different components of negotiation tactics.
Preparation: It is important tactics in the business environment where one party is
developing specific time scale to complete their task within deadline. In this way, different
parties are maintained the multiple plan within preparation. It includes gathering data about facts,
policies, legal and ethical requirement, business objective, strategy, record keeping etc.
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Negotiation style: It is basically used to develop collaboration between one or more
parties. They help for avoiding the conflicts between parties through negotiation style by
adopting compromising, and collaboration between them.
Determine the limitations and benefits of different information systems.
Information system is a type of process that can use in the business for exchanging data
from one place to another. in business, it plays important role to interact with people and
supports the business processes. The benefits of information system are to handle the capital
investment to keep record and maintain the overall report in proper manner. In the organization,
all type of people has experienced of manual system because information can be stored through
information system. It helps to reduce the overloaded of data and also reduce the risk of data
loss.
Apart from that information system is a based on the electric medium to store data or
information. It useful for business purpose to create automatic report with proper presentation of
information. It mainly used the centralised database system which easily retrieve, update, delete,
add, modify and manipulate the data in proper manner (Hughes and et.al., 2019). For Example-
Management information system will help for business related reduce cost, improve
communication capabilities between employee, improve customer services, supply the
information through decision makers etc. In this way, MIS is beneficial for organization to
increase the production and sales in marketplace.
The Limitation of information system is changing the technologies and up- to -date
software. It become difficult to the organization for setting infrastructure to new information
system. Sometimes, it quite expensive and large storage space required. On the other hand, there
are increased the data loss through failure and security threats.
Describe that how to monitor the use and effectiveness of information system.
An information system is required to monitor the activities on daily basis because in
organization, there are large number of information record in the system in which require to
maintain the data workflow in proper manner. It can be divided into different steps that help to
monitor the use and effectiveness of information system.
First of all, it can be developed the suitable plan for achieving the specific goals and
objectives. In organization, it is identifying the usage of information system to record data,
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generating automatic presentative report and maintain data on day to day. Information system
will improve the scope in business operations to improve quality of good and services (Gould
and Moultrie. 2019).
On the other hand, it also planning the time scale for implementing in specific task
completion through information system. It will check the obtain feedback from users because
information system automatically recording the interest of users towards product and services.
Users are directly interacting with the sales manager to resolve their queries regarding item.
Furthermore, information system is needed for executive decision that supports to increase
the overall productivity and profitability in global marketplace. Information system have
facilities to increase the productivity of employee with share their information from one
department to another. It makes ensure that implementation of different project work properly
across multiple location through information system because it will track all details.
CONCLUSION
As per discussion, it concluded negotiation process which important for business
environment. it can be used the different type of approach that implement in business process
and identify the components of negotiation tactics for managing the business situation or
condition. Furthermore, it also identifies the limitation and benefits of information system and
how it can monitor the use and effectiveness of information system.
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REFERENCES
Book and Journals
Goelzner, H., Stefanidis, A. and Banai, M., 2019. Ethically questionable negotiation tactics in the
Austrian workplace. European Business Review. 31(1). pp.115-138.
Gould, N. and Moultrie, K., 2019. Effective Policy, Planning and Implementation: Volume 2:
Information Management in Social Services. Routledge.
Hughes, L. and et.al., 2019. Blockchain research, practice and policy: Applications, benefits,
limitations, emerging research themes and research agenda. International Journal of
Information Management. 49. pp.114-129.
Khan, M.A. and Ebner, N. eds., 2019. The Palgrave Handbook of Cross-Cultural Business
Negotiation. Springer International Publishing.
Staley, K. and Barron, D., 2019. Learning as an outcome of involvement in research: what are
the implications for practice, reporting and evaluation?. Research involvement and
engagement. 5(1). p.14.
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