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Importance of Negotiation in Business Environment : Report

   

Added on  2020-07-22

10 Pages2910 Words103 Views
Professional Development
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PRINCIPLES OFBUSINESSCOMMUNICATION
Importance of Negotiation in Business Environment : Report_1

Table of ContentsINTRODUCTION...........................................................................................................................11.1 Importance of negotiation in business environment.............................................................11.2 Approaches of negotiation ...................................................................................................11.3 Components of negotiation tactics........................................................................................2TASK 2............................................................................................................................................22.1 Different types of presentation and their requirements.........................................................22.2 Resources can be used to develop a presentation .................................................................22.3 Methods of giving presentation ............................................................................................32.4 Best practices in delivering presentation .............................................................................32.5 Collect and use feedback on a presentation..........................................................................4TASK 3............................................................................................................................................43.1 Characteristics of bespoke documents .................................................................................43.2 Factors involve in creating and presenting bespoke documents...........................................43.3 Legal requirements for gathering information .....................................................................53.4 Techniques to create bespoke business documents ..............................................................53.5 Gain approval of bespoke .....................................................................................................5TASK 4............................................................................................................................................64.1 Typical stages of information system development .............................................................64.2 Benefits and limitations of information systems ..................................................................64.3 Legal, security and confidentially requirements of information system...............................74.4 Effectiveness of an information system ...............................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Importance of Negotiation in Business Environment : Report_2

INTRODUCTIONThe sharing of information between people within an enterprise that is performed for thecommercial benefit of the organization. In addition, business communication can also refer tohow a company shares information to promote its product or services to potential consumers.Business communication involves constant flow of information (Guffey and Loewy, 2010).Feedback is integral part of business communication. Organizations these days are verily largeand involve large number of people.1.1 Importance of negotiation in business environmentNegotiation is a process where two or more parties with different needs and goals discussan issue to find a mutually acceptable solution. In business, negotiation skills are important inboth informal day-to-day interactions and formal transactions such as negotiating conditions ofsale, lease, service delivery, and other legal contracts (Bovee, Thill and Raina, 2016). Goodnegotiations contribute significantly to business success, as they- Help you build better relationshipDeliver lasting, quality solutions - rather than poor short-term solutions that do not satisfythe needs of either partyHelp you avoid future problems and conflicts.1.2 Approaches of negotiation Distributive Negotiation - One approach to negotiation is the distributive negotiationstrategy. With this type of negotiation, you look at the property or goal of the negotiationas if it were a fixed amount of something. This is sometimes referred to as a fixed pienegotiation. Compromise - Another approach to negotiation involves compromising with yournegotiation partner. This type of negotiation usually works when you have an ongoingrelationship with the counter party (Approaches of negotiation, 2017). Impersonal approach - One of the most effective negotiation strategies involvesseparating the people involved from the problem. Negotiators often get tied up inpersonal issues with those who they are negotiating with. When this occurs, it can lead toproblems completing a deal. To finish the negotiation, it is often beneficial to separate thepeople from the problem.1
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