...In this piece of task I will be discussing what skills you need to run a business and become a successful entrepreneur. The skills you need to run a business; Leadership skills; are needed to run businesses to help people know what they are doing. They will motivate their team to perform well to meet the overall company objectives. These leaders will have deadlines for their objectives and will not fail to meet the deadlines. Strategic business planning skills; most business follows a plan even if it's not written down in a document. Although developing and implementing strategic change is a skill all business owners need. Undertaking a strategic audit and writing a business plan is the first step in this discipline. Marketing Skills; marketing is a key skill to have and buy delivering what people want to buy is an obvious requirement to running a business but not many people truly understand how to market a business correctly. Marketing led organisations always buck the trend and tend to produce more revenues and profits than their competitors. Sales and Customer Relationships; selling is really important; everyone has probably sold something in their lives already. Whether you have an interview for a job you have to sell yourself or you have sold a house in the past. The skills required in sales are really to understand the selling process - from initial contact to completing the sale. Good sales people rarely leave a meeting without an order or at least a commitment...
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...involve providing information and ideas. 1. Figurehead – As a manager, you have social, ceremonial and legal responsibilities. You're expected to be a source of inspiration. People look up to you as a person with authority, and as a figurehead. 2. Leader – This is where you provide leadership for your team, your department or perhaps your entire organization; and it's where you manage the performance and responsibilities of everyone in the group. 3. Liaison – Managers must communicate with internal and external contacts. You need to be able to network effectively on behalf of your organization. Informational Category The roles in this category involve processing information. 1. Monitor – In this role, you regularly seek out information related to your organization and industry, looking for relevant changes in the environment. You also monitor your team, in terms of both their productivity, and their well-being. 2. Disseminator – This is where you communicate potentially useful information to your colleagues and your team. 3. Spokesperson – Managers represent and speak for their organization. In this role you're responsible for transmitting information about your organization and its goals to the people outside it. Decisional Category The roles in this category involve using information. 1. Entrepreneur – As a manager, you create and control change within the organization. This means solving problems, generating new ideas, and implementing them. 2...
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...Article Review 7.1: Best Practices in Negotiations Article Review HR595 Negotiation Skills Course Instructor: Wendy Chung April 14, 2010 Week 7 Submitted by Bob Figone What is the problem or issue that necessitates such an article be written? This article comes directly out of both textbooks (Chapter 12 in Essentials of Negotiation, page 256 and Article 7.1 in Negotiation – Readings, Exercises and Cases, page 485) we have used for this course. It is a summary of what we have learned about the field of negotiation. It reminds us that negotiation is intrinsic in our lives and confronts us many times each day. This article is a reflection by the author’s using a broad view of best practices for negotiators to focus on in order to improve negotiation skills and techniques. What strategies or techniques are used to solve the problem or address the issue? The article lists Ten Best practices for Negotiators in a table and continues to explain the importance of each. The table from the text is as follows: |Ten Best Practices for Negotiators | |1. Be prepared | |2. Diagnose the fundamental structure of the negotiation | |3. Identify and work the BATNA ...
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...What is the Skill? There are many challenges faced when trying to find the right match between employee and employer. Both parties spend numerous hours searching through job openings and at possible candidates. Then, for each potential connection there is paperwork, assessments, and interviews to be done to try and find the appropriate match. When finally an eligible candidate is found and given an offer, there arrives the difficult task of determining an agreeable salary and benefits package for both parties. This process of salary negotiation may “represent one of the first employer-employee exchanges at the beginning of what may be a long-term employment relationship.” (Porter)This signifies the vitality for employers and employees to hone this skill and ensure a strong initial relationship is developed between the two parties. Before being able to master the skill of salary negotiations, it is important to understand what the skill is. Salary negotiation is the point in the hiring process when an ideal candidate for the position is given an offer that includes the salary and benefits; the employee must decide whether the offer meets their expectations. At this point, an employee can take the offer as is if they believe it is acceptable, or begin the process of negotiating for what they believe to be an accurate salary and benefits package. The negotiation should include coming to an agreement on details including base salary, benefits packages, etc. The employee...
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...courses of negotiation in my life from which I have tried to figure out my weaknesses and strengths. Before the negotiation course, I could only realize some of my capacity and limits, for example I might be good at emotional control and bad at active listening. I believed they were not all the weaknesses and strengths that I should realize. In addition, I found it hard to hone my strengths and improve my weaknesses because (i) I did not see negotiation in systematic viewpoint (ii) I have not had enough negotiation experiences. Thankfully, this course has shed the new light on the wide scope of negotiations and how they should be conducted. From this course, I am able to see more dimensions of negotiations and subsequently, better figure out my weaknesses and strengths. As a result, I could find a more effective way to develop my negotiation skills. During...
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...progression are excellent communication skills. Studies indicate that managers spend upto 80% of their time communicating. The importance of communication thus, cannot be over emphasized. Ability to express oneself clearly orally or through writing, to present well, to choose the right medium, to be culturally sensitive, are all crucial factors that lead to professional success. The course will focus on upgrading participants’ communication skills, while giving them certain communication frameworks. The course will also orient the participants to think about business communication strategically. Though communication for managers is vast area, the course will focus around some common communication situations for managers like presenting, negotiating, communicating with culturally diverse teams etc. During the course we would also touch upon importance of dressing, grooming & etiquette, and its impact on one’s professional growth. Learning Outcomes: Upon the completion of this course, the participants will be able to: * Understand the fundamental concepts of Business Communication * Communicate effectively with a sense of context & audience, choose appropriate style &channel for communicating in a particular situation * Enhance their public speaking skills * Prepare well- structured presentations with effective introductions & conclusions ,and well developed key points, and improve their delivery skills * Identify the challenges of...
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...Main Topic: Managing Workplace relationship, conflict and negotiation skills include effective communication. Building relationships within the workplace According to Harbour S. (2015) establishing and maintaining good working relationships is the key to a positive workplace. Effective businesses encourage the development of positive relationships between managers and employees as well as amongst coworkers. It is imperative to create a clear and concise company mission statement and distribute a copy of the statement to each employee, so that they can be clear on exactly what is expected of them and the intended goal of the business they represent. Teamwork should be encouraged through formal and informal team-building activities. Management could always arrange a company-oriented outing, such as fun days consisting of activities such as tug a war or cricket, or involve the office in a team-based charitable activity. Good relationships in the workplace thrive when individuals feel part of a team and comfortable with their teammates. The need for two way communication should be encouraged, as this would boost staff morale. The better and more effectively persons communicate with those around them, the richer the work relationships will be. All good relationships depend on open, honest communication. Managers should always reward great work as quickly as possible, and address problems or concerns immediately. Acknowledge staff members publicly with written or...
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...Successful negotiation requires compromise from both sides. Both parties should gain certain things, and both parties should lose something. You must be prepared to give up something in which you believe you are entitled. You cannot expect to defeat your opponent or "win" a negotiation via either the energy of your negotiating proficiencies or the forcing coerce of your logic. This is not to say that good negotiating skill is irrelevant. In majority cases, a range of possible results exists. Probably the most critical characteristic of world class negotiators is their ability to understand what it is that all parties to the negotiation want. The ability to see past the 'demands' of your counterparties and really understanding why it is that they are negotiating with you is an essential element that will help you to understand what common ground exists between parties. As we know, negotiation must not be mixed up with persuasion and identifying a winner. Negotiation is finding a solution which is acceptable to all sides involved. Therefore all these skills are essential to successfully negotiate towards a win-win situation for all parties involved. Continuously develop your skills. Not unlike world class performers in professional sport, world class negotiators spend significant time analyzing the way that they negotiate - particularly under pressure. It is only once you have built an understanding of your own weaknesses & strengths that you can implement measures to improve your...
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...Negotiation Scenario for Erin Brockovich Cassandra E. Schumacher Argosy University The scenario I will be using for the bases of this paper is a clip from "Erin Brockovich". I do not know the plot of this movie but what I can tell from this clip is there is some kind of law controversy about a family who has gotten lots of illnesses where they live because of the surrounding area and they want money for all their medical bills. The lawyer from the opposing side offers the $250,000 and says he is firm about it. They then tell him that is not enough money and they start listing all the illnesses that have happened. The opposing lawyer states that these things could of happened because of lack of health, genes, poor high genes, etc. They bring up the fact that they are supposed to be negotiation a fair price for what has happened. The lawyer tells the opposing that he will bring it up to his clients but he knows it will not be enough. The opposing lawyer then says "do you know who we are?" and goes on to say they are part of some billion dollar corporation, pretending like he has some power over the other lawyer because of it. They basically just laugh at him and proceed to walk out. I believe that the first communication issue was truthfully non-verbal. The defending lawyer was very calm and sat properly so his non-verbal showed confidence. As for the opposing lawyer his non-verbal was the problem. He sat though he had some type of power over the defending lawyer and it...
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...is the potential to alter others attitudes and behaviours, influence consists of actual messages and tactics an individual undertakes in order to change the attitudes and/or behaviours of others”. Power is potential influence. Influence is the current usage of power. Sources of Power: Dobrijevic identified a comprehensive list of 16 sources of power: need, alternatives/options, time/deadline, relationships, investment, credibility, information/knowledge, skills, elegant solutions, legitimacy, commitment, authority, coalitions, intangible factors, material resources, and perception. General Strategies in a Power Imbalance: In a power imbalance, the following strategies may seek to improve the outcome of a negotiation: Employ a mediator. (Page, N) Find ways to improve your BATNA. (Cohen, P) Create value. (Cohen, P) Reduce the other side’s real/perceived power. Use integrative bargaining. Shift focus to interests and not positions. invent options, find common ground, expand the pie. Increase your own real/perceived power. Make concessions of lesser importance for items of higher importance. Determine the self interests of negotiating members of the other party (Voyles, R) Make use of reciprocity. Assume control of a resource such as money, human capital, time, equipment, critical services (Lewicki, R). Specific Types of Power Imbalance When suffering from a power...
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...Part 1: Employability skills • Skills that are useful to a wide variety of careers and are therefore transferable between jobs. • It is essential for employees to be able to work effectively in a modern workplace. • Each of these areas is important, and they include: a. Suitable qualifications b. Experience in a similar role. c. Knowledge of products and services d. Experience of specific industry. e. Effectiveness in meeting personal and team targets f. Ability to observe and raise professional standards. a. Suitable qualifications • Different jobs require different types of qualifications. • For professional careers such as accountancy, marketing and human resources, employers will often look for candidates with problem-solving and critical skills, meaning they will often need candidates with at least A levels or a BTEC National. • To be useful to an employer, it is important that you have the correct level of qualifications and in the right subjects. Completing a BTEC National in Businesses a good start towards a wide range of professional jobs and a rewarding career. b. Experience in a similar role • Experience in a similar role can make the difference when an employer is choosing a new employee. • If you can show that you have done similar work before, for another company, it should indicate that you can do it...
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...problem, however, with negotiation skills training. Such training is beyond the scope of this site; however, many good texts on negotiation are available (summaries of several can be found at http://www.colorado.edu/conflict) and a few particularly useful excerpts are summarized in this online training program. In general, it is useful to know and understand the difference between integrative (or win-win) negotiation strategies and distributive (or win-lose) strategies. Win-win strategies are most useful when it is possible to develop a solution to a problem in which both (or all) sides win, or at least come out ahead of where they would, were the conflict to continue. When this is possible, following the rules of principled negotiation is usually the best approach. When the situation is unavoidably win-lose, however, as it often is (at least in part) in intractable conflicts, then principled negotiation is unlikely to work. In that case, either distributive negotiation (which is much more adversarial) or a needs-based approach (such as analytical problem solving) is more likely to yield success. Do you feel that someone is continually taking advantage of you? Do you seem to have to fight your corner aggressively, or ally with others, to win the resources you need? Or do you struggle to get what you want from people whose help you need, but over whom you have little direct authority? If so, you may need to brush up your win-win negotiation skills. There are different...
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...10/2/2015 ONLINE MGT 430: NEGOTIATIONS Week 1: Negotiation Concepts and Styles “If you’re bold enough to bargain, you can reap big bucks.” Consumer Reports, August, 2013 • Just 48% of Americans have tried bargaining over everyday goods and services in the past three years (2010 survey) • Down from 61% in 2007 • 89% who tried on furniture saved an average of $300 • Cell phone plans, eye glasses, credit card fees, doctors, lawyers, jewelry, appliances – what else? Why Don’t We Negotiate More? • 35% refuse to bargain, period • 20% of women say it makes them uncomfortable – Men? • Why do we feel uncomfortable? • Ages 18‐29 enjoy it the most, over 60 the least • 43% who earn less than $50K/yr have tried, compared with 58% of higher earners Consumer Reports, August, 2013 1 10/2/2015 What is a Negotiation? “Broadly defined, negotiation is the process of back-and-forth communication aimed at reaching agreement with others when some of your interests are shared and some are opposed.” (Ury, Getting Past No) “A negotiation is an interactive communication process that may take place whenever we want something from someone else of another person wants something from us” (Shell, Bargaining For Advantage) Why Learn to Negotiate Better? • Personal: Improve your ability to create and claim value for yourself • Getting a “good deal” in business transactions (car, house, sales contracts) • Advancing your career (job offers, promotions) ...
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...people work as a team. The constant changes that occur in a workplace, make communication important. I will explain some things about effective business communication require effective practice. There are five factors relate to effective business communication closely. They are communication theory, business writing styles, team building and interpersonal communication, negotiation and persuasion techniques, and intercultural communication. Generally, communication theories can teach people many skills to accomplish a successful business communication. Also, the ability to generate clear, vigorous and concise written materials are critical for people to be successful in business world. So writing process and writing styles play important roles in effective business communication. The best way for business organization to survive and grow in surroundings of intense competition and pressure on resources is building team for sharing information. Because organizations are consisted of interdependent relationships, interpersonal communication has useful functions to manage organizations. Negotiating and persuasion skills are extremely important in business as they can be applied in a wide range of personal and workplace situations to help a person and other parties agree on the best outcomes. With the economic and trade increasingly globalized, a good understanding of intercultural communication can contribute to support effective business. Communication Theory Communication theory...
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...CORE NEGOTIATION CONCEPTS Rex Mitchell Opportunities and requirements for negotiation (and persuasion) are everywhere, everyday Negotiation: * Conferring with another so as to arrive at the settlement of some matter (dictionary) * Negotiation is a basic means of getting what you want from others. It is back-and-forth communication designed to reach an agreement when you and the other side have some interests that are ...opposed. (Fisher & Ury) Negotiation myths (first four from Thompson 1998): 1. Good negotiators are born - they are self-made, requires study and practice 2. Experience is a great teacher - experience can improve negotiation skills to some extent, but have to learn from the experience - not unaided, unreflected, without feedback. Experience tends to improve our confidence, but not our accuracy/effectiveness 3. Good negotiators take lots of risks - while this may work in the movies, it isn’t in the script for real negotiations. Some negotiators may do this occasionally, but after carefully considering risks & potential benefits. They know how to evaluate a situation and make an optimal choice given the information available. 4. Good negotiators rely on intuition - Effective negotiators are self-aware and very conscious of what they are doing and why. Most of the important work of negotiation takes place before meeting (preparation). 5. Negotiations are always win-lose - a vast majority can be win-win. 6. The only negotiations are formal...
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