Negotiation Tactics in Business

1. When negotiating, it is important to have an effective relationship. This is important because the more effective it is; the work is more enjoyable when businesses have a good relationship. Also, people are more likely to go along with changes that businesses want to implement, and they will be more innovative and creative. Finally, when having the effective relationship, businesses are more likely to make deals and benefit from economies of scale.
2. Also negotiating is important because it allows a smooth running of the organisation and business efficiency. This is good for businesses because it won’t cause any problems between the two companies. Deals can run smoothly and getting the deal done will be a swift and quick process.

Disruptive (competitive approach) – also known as “claiming value,” “zero-sum,” or “win-lose” bargaining, is a competitive negotiation strategy that is used to decide how to distribute a fixed resource, such as money.

Integrative (collaborative approach) – This is also what is known as “interest-based bargaining,” “win-win bargaining”. This is a negotiation strategy, in which parties collaborate to find a “win-win” solution to their dispute. This strategy focuses on developing mutually to beneficial agreements based on the interests of the disputants.

Preparation – This is looking at the timescale and the resources. You will have to collect facts and data. Most importantly it looks at the organisation policies and procedures and the legal and ethical requirements.

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Negotiation Styles – The most popular way to divide the typical negotiation is: Competing (or Aggressive), Collaborating (or Cooperative), Avoiding, Compromise, accommodating (Conceding). Most negotiators have one or two preferred negotiation styles.

Negotiation Behaviours – This is all about the awareness of someone’s body language, their effective listening and questioning skills.

Exchanging information – This is looking at the focus that they have, the goals that will be set for themselves over a period of time and they will look at proposals.

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Bargaining – This is achieving mutual agreement with someone over a period of time. To get to that point you need to look into their problems and solve them for them.

Informative presentation –This presentation type uses descriptions, demonstrations and uses definitions to explain a matter or a subject. However, they sometimes place the audience where they can understand. An informative speech makes a tricky topic easy to understand as it offers a different point of view. This is a brief presentation which gets straight to the point.

Instructional presentation – The general usage of this is to have an instructional approach that is structured, sequenced and led by teachers. This will have clear learning objectives where the presenter will want the audience to understand and follow.

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Inspirational presentation –The main purpose of this is to inspire and uplift the audience. This will have more of a story telling point of view from the presenter which will have a use of vivid language and will have an emotional connection with the audience.

Persuasive presentation –This is a specific type of speech where the speaker has a goal to convince the audience to accept their point of view. This is where at the start of the presentation the presenter will talk about the problem and then throughout the power point talk about how he/they can solve the problem.

Decision making presentation – This is a presentation when you suggest a lot of ideas for the audience, which gives them a variety of different points to look at. It is a presentation of persuasive arguments which will tell the audience the good and bad things about the product they are offering.

Use of software packages – This is important because this is all about the creation of the whole presentation. With this you will have the creation of: text, images, graphs, charts, tables and linking to internet pages. All of these are vital for a presentation.

Use of speaker notes and cue cards – These are put in place to help the speaker can put down their key points down so they can refer back to their PowerPoint. This will act like an additional bit of information to the speaker to help them.

Use of audience hand-outs – When handing out to the audience, this is normally when the speak will hand out a copy of the PowerPoint slides. This also acts again as additional information for the speaker.

Use of boards and flip charts – This is a good way to interact with the audience because once the presentation is over the speaker can have immediate feedback which will help the speaker out.

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Develop a presentation – When developing a presentation, you will use all of the resources listed above. (Software packages, speaker notes and cards, audience hand-outs and boards and flip charts). This will help develop these stages by initial proposal, drafts, edits and final agreed presentation.

Face to face – When doing a face to face presentation it is where a presenter and the audience is in a physical location. This could either be a seated presentation or a standing one. When presenting the presenter can use one of 3 things. These include: using a computer screen, PA system or a flip chart or board.

Webinar – This is a remote presentation which is an internet based online workshop. This is mainly a voice and a video chat. You will have the presenter and you will have the audience which can listen when they have logged into it online. There will be a set time when the audience has to be logged in by.

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Video Conferencing – This is almost like a face to face presentation. However, this is a remote presentation where it will be a two-way video via webcam to go through the presentation and then questions can get asked

There are 4 ways in which to ensure you can produce a good presentation. These include:

• Planning
• Preparation and organising
• Practice delivery and timings
• Effective communication

When planning you need to insure that you focus everything on the audience. When focusing on the audience you need to provide them with good quality information and to use a good choice of: text, graphs and slide transitions and timings. When preparing and organising the main thing you can do is to write out in note form your key points. This will make the presentation easier as you can always refer back to the important parts in your PowerPoint and you don’t need to try and remember everything. Also creating and printing out handout for the audience will make it easier for them to understand. When practicing and delivering it is always good to read a script when going through each slide of the presentation so you can provide the audience with the best information as possible. Finally, effective communication is vital when presenting. This is because you need to make sure you have a loud clear voice, you talk at a steady pace, the volume of your voice is loud enough for everyone to hear, body language and posture is standing up straight and using hand gestures.

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When collecting feedback on a presentation it is important that you take all of the information in. When collecting it, you can collect it in a number of different ways. These include: evaluation sheets, verbal feedback, surveys, activities and tasks. All of these are useful to use because people will give them their honest opinion so you can get the best feedback possible. It is important to use feedback on a presentation; this is because it’s for your personal benefit. Not only is this a good way to get your strengths of the presentation back, but it also benefits you so you can work on the areas which need improving.

Bespoke documents can come in a variety of different ways. Some of these include: Handbooks, questionnaires, spreadsheets, databases, slideshows and presentations. These are important because it puts a professional image on your company, which will attract new potential customers or will keep your current customers interested. However, the most important aspect of these is the way that all of the above maintain the reputation of the organisation which will keep the business on track and on target of their goals.

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The factors that need to be considered when creating a bespoke document include:

• Corporate factors- This is mainly focusing on the brand of the company. This focuses on the professional image of the company, but also focuses on the use of text that will be used within the document.

• Available resources- This is looking at what kind of software you are going to use and why. This is very important because you will need to look into all the costings and the staff and look at how the presentation will function and work when the work gets put into place.

• Ease of use- This is looking at mainly the layout that you use and the styles that you use. This is important because you want to make sure that it is right for your audience. Your main concern is the file format because you want to make sure it is easy to be understood by the audience.

• Other considerations- With this you need to think of anything else which could help you. For example, you would need to proofread everything that you have done to make sure that it reads well and reads right. You also would want to get some feedback from users so you can make any alterations which is necessary.

• Factors to be taken into account in presenting a bespoke document- The factors that need to be taken into consideration is the: spelling, grammar, quality of final document, and it meets the specification and organisational standards. Once this has all been completed there will be an approval of the final document.

The legal requirements include:

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• Data Protection Act 1998
• Copyright Designs and Patents Act 1988
• Common law duty of confidentiality
• Remit and limits of research
• Recording sources

Procedures for gathering the information for bespoke documents is all about having the correct information and having the requirements that is necessary. You need to make sure that you research all of the legal requirements and make sure that the consultation and approval of the information is gathered.

There are many different methods when gaining this approval. One of the most common ones are having face-to-face meetings or even having a phone calls on this.

When creating a bespoke document there are many different techniques you need to consider. These include:

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• Research- When doing this, you need to think about the: Source of information that you are requiring about, planning all of the research that needs to be done, conducting research and with the findings, organising and recording research data collected.

• Providing design options- With this, knowledge and application of legislation and regulations is key for a bespoke document. You need to have efficient use of software applications and resources. You need appropriate document type and document size and style so it is easier for people to read and look through. This is the same with having accurate data input and image size and quality. The format that you use, will need to be appropriate for the users.

• Approval of document- This is the final requirements that need to be done before being finished. A few of the things you need to do include: Checking and proofreading skills, editing skills, consultation, feedback and final approval.

There are two main information stages. These include:

• Manual- this covers all of the: card index; filing systems and categorisations

• Electronic- This covers all of the: office support systems, customer support systems, data processing systems and decision support systems

The typical stages of information system development include:

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• Analysis- This is the stage when the users and the IT specialists work together to collect all of the business requirements. With the requirements, both will have to work on the design and will have to discuss to one another about what tasks need to be done. The user and the IT specialist signs the joint application design to formalise the business requirements.

• Feasibility study- This is the stage when the information analysist makes a study and will look at the strengths and weaknesses. This will determine the potential of success as it will show if there is any need of developing the: Staff, equipment, materials, time and the cost.

• Design- This is the stage where all the system requirements are created. This will look at the: Input, output, storage, processing, system control, backup and recovery.

• Development and Testing – This is the stage where the organisation will develop it to identify the needs of the user. When the organisation has found these wants and needs then they will test it to fit for purpose.

• Deployment- This is the stage when the product is finished with the project team which then gets passed to the operations team. The operations team would then look at if it is possible to increase the efficiency of the production.

• Evaluation- This is the stage of the analysis and the testing. This is key for the organisation because they cab then look at the cost and benefits against the original specification because you will get feedback from the users/stakeholders so you can review it.

• Maintenance- This is the final stage when you monitor it. This is so that if any problems arise you will then be able to fix the problem. If there are any problems, then gives you time to change and customise to fit the user’s needs.

Both Manual and Electronic system have their benefits and their limitations.

Manual benefits- capital investment; everyone has experience of using manual systems; relevance to user; reduce information overload; data entry errors; lower risk of data loss; simplicity

Manual limitations- time; efficiency; physical space requirements; file naming conventions; archiving requirements; degradation of physical records

Electronic benefits- storage capacity; time, simultaneous multiple access to records; combination of other data; presentation of information; business efficiency, integration of multiple systems.

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Electronic Limitations- capital investment; up to-date software and technological change; data loss through technology failure and security threats; system upgrades; server storage space; file naming conventions; quality of data input; resistance to change; may require training; information overload; duplicate copies of records

Data Protection Act states – how your personal information is used by organisations, businesses or the government.

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Everyone responsible for using data and has to follow strict rules called ‘data protection principles’. They must make sure the information is:

• Used fairly and lawfully
• Used for limited, specifically stated purposes
• Used in a way that is adequate, relevant and not excessive
• Accurate
• Kept for no longer than is absolutely necessary
• Handled according to people’s data protection rights
• Kept safe and secure

Freedom of information Act 2000 states – An Act to make provision for the disclosure of information held by public authorities or by persons providing services for them and to amend the Data Protection Act 1998 and the Public Records Act 1958; and for connected purposes.

Copy design and patents Act 1988 states – An Act to restate the law of copyright, with amendments; to make fresh provision as to the rights of performers and others in performances; to confer a design right in original designs.

Security of systems need to be in place. To ensure information is secure organisations need to:

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Put all of these legislations in place to ensure the safety at work by the employer and also make sure that all of the employee’s vital information is stored somewhere where no one can gain access to.

First of all, you have to develop a plan that specifies objectives. You will then need to create a timescale for implementation and review and resource implementations. After this you would then get your feedback from others which will give you the implementation of: levels of usage and the timing of usage. This means you can gain early knowledge or any faults you would have with this system. After this, you would need to look into all of the legal and organisational requirements. Give any training necessary and make any other adaptations that are needed.

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