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(PDF) Negotiation | Theory and Practice

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Added on  2021-02-20

(PDF) Negotiation | Theory and Practice

   Added on 2021-02-20

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PITCHING AND NEGOTIATIONINTRODUCTION Negotiation is the process of resolving issues of two parties and came into a common agreement where difference of bothindividuals get settle down. Report will be based on small business start-up. The start-up is related to mobile beauty services.Make on move will hire people who will provide beauty services at home. It is the simple process which avoids argumentsand take such decision which can be win-win for both involved parties. Present study will discuss concept of negotiation andkey stakeholders involved in this process. Furthermore, it will explain or evaluate the key steps of negotiation and informationrequired for the same. Study will explain contractual process and ways to manage documentation.It is very difficult task to successfully apply the negotiation in the company as it involves theview of many people. There are five main step of negotiation which need to be applied in theorganisation these step is as follow:Preparation and Planning: Makeup on the move needs to be involved in preparation andplanning. It is the initial stage of the negotiation where both the party use to plan about thenegotiation and tries to gather information regarding the negotiation. information include thepoint of view and also tries to collect the evidence to prove that point of view correct in thenegotiation, information and history regarding the opposition party as it help the party tounderstand their point clearly and also help in nelify the point of opposition party if the point isinappropriate in the negotiation (McNamara, Cumming and Pulis, 2018).Definition of ground rules: These is the stage where both the party with there mutualunderstanding makes the rules and regulation regarding the negotiation which is used to behappen. Main question which are address is first where and when will be the negotiation will beheld in the organisation, second will there will be any time constraint or not, third it will bedetermined that is there are any issue which can not be set off in these negotiation and in the endit is also decided by the both the party what will happen if there will be no solution for theconflict in the negotiation. Make up on the move needs to also define the ground rules forperforming business. Both the party should clarify all the thoughts and should clarify theinformation about the rules and regulation about the negotiation (Espinoza Salgado and et.al.,2017).Clarification and Justification: It is the initial stage of the negotiation where both the partyexplains the starting point of view of their and the initial demand to give a clarity of view to theopposition party and also explains the benefits of that initial demand, sometime parties also takethe help of evidence to prove their initial demand to the opposition Both the parties should havethe information about the initial demand before hand as it will help the parties to nelify thewrong point of view. Bargaining and Problem Solving: This is the toughest step in the negotiation process as in these step boththe party try to solve the problem in such a way that both the party are in the win – win situation. Make upon the move can bargain with consumers in order to solve problem. The main tool used in these step isBargaining in which both the party discuss about the price of solution and in the end comes on the solutionwhich is approved by both the party. Sometime these step consumes a lot of time to complete asthese requires the mutual acceptance of both the party. Parties should have the informationabout the original value of the resources as it will help them to have a good bargaining in theprice (Rottembourg and Masson, 2017). Closure and Implementation: This is the final stage of the negotiation process where formalagreement is made between the two parties on the basis of the result of the negotiation. Andafter that also necessary step are taken to implement the decision in the organisation.Request for proposal (RFP) is a proposal or document often used by the company interested inprocuring the asset of another company or looking to enjoy the services or commodities ofanother company. This document is used in the primary stage or procurement stage of theprocurement cycle.Steps and information require in the negotiation processWhat is negotiation and the key stakeholder in the negotiation processNegotiation is the process of solving dispute between two parties. Negotiation is also known as the communication tool usedto resolve the conflict between two or more parties and to come out with the joint solution. Make up on the move can use thisskill in order to negotiate with client. Negotiation generally occur when both or all the party are ready to have a discussionupon the given issue and willing to have a solution for that issue. Major Issues which laid to the negotiation can be not able todivide the resources between the two or more parties, both or all the party involve are not coming on common solution of theissue or all the party is trying to do something unique but both the party is not able to do that by their own. Make up on themove needs to consider some point before negotiation. All parties should be honest and straightforward in their point of view.All parties should keep their personal issue aside, only focusses on the conflict issue. All parties should listen and respect theopposition view point if it is correct. All parties should have the evidence to prove their point in front of all the party (Sinurat,2015).Stakeholder in negotiation process- Both the parties: Both the parties involved in the negotiation is a main stake holder asthey are the one who are adversely affected by the negotiation decision as both the party has to lose something and both theparty get something.Stakeholder representative plays a vital role in the negotiation as stakeholder representative is the one who represents thelarger amount of group and speaks on behalf of them in the negotiation process, as it is very difficult for listener tounderstanding the points of all the member in the group, stakeholder representative is the one who keeps the thought of all thegroup member in front of listener in a summarised way and it is essential for the party to send their representative to thenegotiation process in Formal negotiation. Make up on the move can be benefited by the stakeholder’s representatives. As theStakeholder representative a key role in the negotiation process there are many different ways through which stakeholder isselected, main two scenarios on which stakeholder is selected are large scale and small scale (McLeod, Verdon and Theobald,2015).Organisation: Organisation is also a stakeholder as the negotiation decision in the organisation always affect the working ofthe organisation as it happens that some are happy with the result and some are not happy.
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