Wednesday, December 11, 2019
The Role of Negotiation in Business-Free-Samples for Students
Question: Discuss about the Role of Negotiation in Business. Answer: Introduction Negotiations are the dialogues between the two parties that are that are done with the intentions to have a beneficial outcome over a issue where a certain amount of conflict does exist for sorting the issue. The aimed purpose for any negotiations is make the two parties have their points and then take a decision to whether to agree or disagree to the proposal. The below report discusses negotiation that is put up by Vipul Kaur who is the representative of the Mr. Renaldo who are proposed to be hired by the Soccer shoes firm for a sports campaign. The report enumerates the several facets of the process of negotiation. Step 1: Pre negotiation Advertisement Agent Appointment to represent the company as their agent for the negotiation of the endorsement contract The appointment of the Agent X is done to be a personal representative, advisor and the manager of the advertisement firm to set a pre negotiation to the celebrity who has been selected to do the endorsement campaign for their advertisement (Shropshire, Davis and Duru 2016). The negotiating the contract to the celebrity and their team is often considered to be final and very important aspect of the contract that has to be done between the two partners. Firstly, before proposing the offer to the client the agent has to set certain priorities. It is very important for the agent X to know the clients BATNA. The BATNA provides the other alternatives of the client (Considine 2015). If the agent understands the several alternatives of the client then his pitching to negotiate with the patients will be easier. Secondly, the offer needs proposed in an efficient and skillful manner to the client. The contract should also be endorsed to the client. The client needs to be informed about the con tract. On what brand they need to work, where the location of the shoot and for how many days the shoot is to be conducted, every aspect should be clearly mentioned by the agent to the client. The agent needs to make the client understand about the reimbursement of the several expenses that will include the communication expenses, the lodging, travelling expenses and the telephonic expenses. The bills and receipts of the expenses are needed to be given to the agent so that they can refund the money that is spent by the client during their stay during those days of the endorsement campaign. The quality negotiation is very important for the resource reservations that used for distributing the application parts and forming the links for communication. In pre negotiation period the quality of services are to be specified by the client with the specifications to the resources that are available. Agent of the Celebrity Appointment to represent the celebrity as their agent for the negotiation of the endorsement contract The manager of the celebrity before going for the any negotiation with the advertisement groups needs to do a background check regarding the agents of the advertisement company. The managers should also need to adjust the dates of the celebrity and also see whether the celebrity will be available for the campaign or not. The duration of the campaign is also the look out of the managers. Whether the campaign is time consuming and the whole process is not a pain for the celebrity to handle, all these aspects are to taken care of by the managers. The proposed challenge is interesting and the managers observe what the challenges that are needed to be considered. Step 2: The negotiation phase The negotiation of the contract is done between two parties. Choosing the correct options for negotiation is also one of the important aspects for a good contracting. The agent of the advertisement sector break downs the negotiations while explaining the contracts to the client. The clients should feel good and interested by hearing the proposed contracts and the campaign of the endorsement should be interesting (Riskin 2015). The manager of the clients concerns will be that the endoircement should be for a cause and that cause should not deliver any socially obscene messages. The legality of the endorsements has to be specifically checked by the manager. Now, after the explanation given by the advertisement agent manager, the interest of the client manager is attracted by the proposal. Now, the main factor that is important for the negotiation is the offered money proposed by the advertising agent. The advertising agent proposed a signing amount for the client. The offer needs to ha ve the revenues of the project very clearly put forward by the clients (Riskin 2015). The signing amount and the amount after clearly mentioning and proposed to the client the manager of the client is asked for the confirmation. Here the client is Elite Sports Stars and they are negotiating to the advertisement company of soccer shoes. The celebrity is Renaldo. The proposed money for the by the advertisement company was $350,000 and the length of the campaign is for four months. To this the manager of the Mr. Renaldo responded that the campaign is too long and the proposed price for the campaign for one month. However, the representative of the celebrity who is Elite sports stars has some problems with the low rate and increased amount of time for the full project. He negotiates by the term that Mr. Renaldo is a big star celebrity, the offer price proposed for the campaign is very low, and three months will be too long for the project. Therefore, after some negotiations from both th e sides the contract was signed on $630,000 for two months. Step 3: Post Negotiation Phase The client representative for a sports campaign and starring Renaldo sealed with two months of campaign and offer price of $630,000 (Haapio, Plewe and deRooy 2016). The negotiation ended with a positive note and this confirms the potential working together of the two parties in the future. The positive dealing helps to create a positive environment in the workplace and generates a collaborative relationship within the two parties. Conclusion Therefore, it can be concluded that the report briefly reflects the several aspects for negotiating a proposal to the client. 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