What does negotiation mean in today’s business environment?

Introduction to Negotiations

write 400–600 words

As a regional manager for ABC Manufacturing, your duties will include negotiating contracts with vendors to maintain production and transportation schedules. Because you just came on board, the chief operating officer (COO) has asked you to address the senior team leaders on the importance of contract negotiations in vendor selection. You begin the meeting by asking each leader to provide his or her understanding of what negotiating means, and the importance of negotiating in supply chain management. In addition, you ask the leaders to identify 3 key members of the contract negotiating team.Describe the following:Part 1: What does negotiation mean in today’s business environment?Part 2: What role does contract negotiations play in the vendor selection process?Part 3: Identify the roles and responsibility of at least 3 key members of the contract negotiation team.

PART 2 – Key Negotiation Strategies

write 400–600 wordsThe chief operating officer (COO) was very impressed with your presentation to the senior leadership last week. The chief executive officer (CEO) expressed concern that XYZ Plastics has hired a consultant to assist it in preparing for the upcoming negotiations. As a reward for your hard work, he has asked that you share your understanding of negotiation strategy and tactics.Consider your current or past job or an organization that was recently in the news, and describe a negotiation scenario and the outcome.Discuss the following:What is the purpose or goal of the negotiation?What strategy or tactics can be employed by both sides?Discuss the outcome of the negotiation.Give your assessment of the strategy.