What would be each party’s negotiation process? What will be each party’s BATNA? What are the essential techniques and strategies in the context of negotiation? Explain in detail.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Diana are currently employed as full-time supervisor at a wealth management company in Kuala Lumpur, and she want to negotiate with the head manager, Mrs. Janice to work flexible hours from home on long term bases due to her condition which have previously miscarriage for two times. She is worried about her current pregnancy which just entered the second month. She and her husband has been waiting to conceive for more than 4 years. However, Diana want to implement this flexible hour (work remotely) to everyone in the company.
Diana want to work remotely because she is now having to take care of herself as according to the doctor, she is so fragile at the early of her pregnancy. She must reduce her steps to make sure no bleeding could happen. Since she was on work from home mode for the last month as she is given bed rest by the doctor, she seems to prefer working in such condition.
Diana found that working remotely gave her the flexibility and was able to concentrate a lot more compared to working in the office. Besides, she needs to drive about one and half hour every morning and going through traffic which eventually she will feel tired by the time she reached her office. Diana proved that she achieved and completed a lot of work from home which it the sign of increase in her productivity. In the past four weeks, sales increased by 9.5% and customers complaints decreased by 10.3%.
Diana understand that she may have to deal with Mrs. Janice who have more power due to Mrs. Janice position in the company. The decision will be made by Mrs. Janice judgment towards her request.
Suggest the best answer for the following questions if you are Diana and Mrs. Janice. Answers must be in paragraphs, not in point form.
QUESTIONS
- What would be each party’s negotiation process?
- What will be each party’s BATNA?
- What are the essential techniques and strategies in the context of negotiation? Explain in detail.
- What would be the objections for each party involved in the scenarios? (Explain minimum five objections).
- What strategies would you utilize to overcome the objections knowing his personality type? Give examples.
- Why is it important to negotiate with a sense of benefits for your negotiating partner?
- What strategies will you utilize to achieve effectiveness, efficiency, and negotiating climate? What negotiation strategies and tools would you utilize to avoid failure? Explain in detail.
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
