Suggest the ways and means through which TMC's project leaders may achieve effective negotiations
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- Describe the techniques of using triangle talk to plan a sourcing negotiation?You are the recently appointed expatriate manager of a subsidiary of a large multi-national enterprise, located in a developing country in Africa. Your first project is to re-negotiate a contractual agreement with a longstanding local supplier. However, you have been madeaware that the local supplier is in final discussions with a rival company to gain exclusive access to the same materials, which are essential for your company’s production process and supply chain. Discuss how you would approach the negotiations with the local supplier. please describe the five stages of negotiation.Discuss which negotiation style (distributive or integrative) you would adopt when negotiating with a key partner and with primary, secondary and tertiary target audiences. Why?
- Discuss different strengths and weaknesses that a buyer and seller might bring to the negotiating table.The negotiation process is part of a management process that combines various disciplines and business practices, both based on the experiences of the negotiating parties and a further development from the previous negotiations”. From the statement above, Based on your opinion and analysis, provide what strategies (steps) to become a great negotiator, both in daily and business life?Explain and analysis each point, support with simple example Porter’s 5 forces: 1)Threat of new entrants 2)Rivalry among existing firms 3)Threat of substitute products 4)Bargaining power of buyers 5)Bargaining power of suppliers 6) Relative power of other stakeholders (added)
- What are some of the questions a negotiator should ask when attempting to assess the win-win (integrative) potential of a negotiation situationWhat are three options to consider when searching for win-win alternatives in negotiation? How does each option work?How do negotiators' characteristics and traits impact the chosen strategies and tactics?
- Explain the criteria for evaluating collaborative strategies. When would a firm choose for licensing over joint venture?What role does communication play in successful outsourcing management relationships?Successful negotiation relies heavily on the planning in the preparation phase. Procurement teams of HKTVmall identify and visit a surgical mask machine supplier in Taiwan. They negotiate with the supplier. (a) You, as a team leader, express your view of this assertion by explaining how you prepare for the negotiation in order to get the best out of the dealings with this surgical mask machine supplier. (b) Suggest the negotiation tactics that you will adopt when dealing with the supplier that does not have competition, or that has very limited competition.