10.docx - TABLE OF CONTENT COMPONENTS 1.0 2.0 3.0 4.0 1.0 GUIDELINES MARKING CRITERIA TASK 1 TASK 2 References Coursework PAGES 3-17 18-28 29 29-40 TASK

10.docx - TABLE OF CONTENT COMPONENTS 1.0 2.0 3.0 4.0 1.0...

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TABLE OF CONTENT COMPONENTS GUIDELINES/ MARKING CRITERIA PAGES 1.0 TASK 1 3-17 2.0 TASK 2 18-28 3.0 References 29 4.0 Coursework 29-40 1.0 TASK 1 Negotiation is an integral part of daily life and the opportunities to negotiate surround us. While some people may look like born negotiators, negotiation is
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fundamentally a skill involving analysis and communication that everyone can learn. You are required to provide 10 “best practices” for negotiators who which to continue to improve their negotiation. 1. A relationship manager is dedicated to each strategic supplier relationship Dedicated relationship managers act as internal advocates for suppliers, serve as a resource and escalation point for suppliers, and facilitate coordination among different internal groups who interact with a given supplier. 2. A formal mechanism enables joint strategic planning with suppliers Such a mechanism enables companies and their key suppliers to share information about their respective strategies, find ways to help each other meet important goals, and better align long term plans. 3. Enterprise sourcing strategy is aimed at creating and preserving long-term relationships with suppliers Such a focus ensures companies maximize the value of supplier relationships where a long term time horizon is critical to facilitating joint planning and joint investment. Performance Monitoring 4. Regular supplier relationship assessments are conducted Page 2 of 39
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Assessments are conducted against metrics for business performance and the health and quality of the working relationship. 5. Relationship assessments are two-way Focus is not only on supplier performance, but also on assessing whether the customer has met their obligations and on diagnosing problems jointly and finding opportunities for mutual gain. Be Prepared Diagnose the Fundamental Structure of the Negotiation Work the BATNA Be Willing to walk away Master Paradoxes Remember the Intangibles Actively manage coalitions Savour and protect your reputation Remember that rationality and fairness are relative Page 3 of 39
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Continue to learn from the experience Be Prepared Negotiators who are better prepared have numerous advantages, including the ability to analyse the other party’s offers more effectively, to understand the nuances of the concession-making process, and to achieve their negotiations goals. Preparation should occur before the negotiation begins so that the time spent in negotiating is more productive. Good preparation means understanding one’s own goals and interests as well as possible and being able to articulate them to the other party skilfully. It also includes being ready to understand the other’s party communication in other to find an agreement that meets the needs of both parties. Few negotiators are going to conclude successful without both party achieving at least some of their goals, and solid work up from to identify your needs and to understand the needs of the other party is a critical step to increasing the odds of success.
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  • Summer '17
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