Business Relationships for Glassware and Cutlery- myassignmenthelp

Question: Discuss about theBusiness Relationships for Glassware and Cutlery. Answer: The chosen are is Service equipment: Glassware, cutlery, crockery etc. Before approaching customers, research must be done on the following: The demographics of the consumers Their purchasing power Their taste in terms of the product/service The main purpose of buying Geographic details Before approaching suppliers, research must be done on the following: The demographic of the suppliers Their credibility in terms of quality Their credibility in terms of commitment The kind of products sold by them Terms of agreement Legal obligations of the supplier (Pruitt, 2013) The two suppliers are: Cedar Hospitality Supplies- Located in Brunswick Victoria 3056. They have been operating in Melbourne for over 20 years. They are open to business and public as well. They provide both website and shop retail. They are the best in their dealings. Robert Gordon Australia- Located in Mulcahy Road, Pakenham, Victoria 3810, Robert Gordon has been in business since 1945. They are the premium suppliers of crockery items and are best at it. (Tableware International. 2017). The owners of both the stores are Australians. They have been in this business since a long time. The cultural factors to be considered are their duration of business, their premium quality and selling policies. While dealing with them the business etiquettes, their manner of negotiation, terms of meeting and basic introductory rules need to be understood in order to establish a strong relationship. Supplier Customer Objectives of negotiation To establish profound relationship with the supplier To come up with the clauses in the agreement To decide on a price rating system To determine the quality of the products To determine the quantity and to sign the agreement To establish a profound relationship with the customer To decide upon the pricing policy To discuss the clauses of the agreement To determine the kind of products required. Negotiable requirements The price of the product The quantitative to be supplied Terms of payment Clauses in the agreement The price of the products The quantity to be brought by the customer The delivery clauses(Ting?Toomey, 2015 ) Non-negotiable requirements The quality of the products is non-negotiable The time of delivery is non-negotiable The quality of the products cannot be negotiated upon The terms of delivery BATNA If the agreement does not work out the best alternative will be contacting another supplier or just reducing the quantity of order made from the supplier. The best alternative would be to make a closing statement about the offer and let the customer decide. The next customer could be approached. Concessions to be made during negotiations: To alter the details of the agreement as per the needs of the consumer/supplier To make changes in the pricing policy up to the limit allowed To alter the delivery terms and credit payment details To customize the products based on the requirements of the customer To decide on the date of delivery (Firth, 2014). The team leader could be a chief negotiator however, the team as a whole should take active participation while negotiation. Their roles are as follows: They must pay attention during the process They must have good patience and observational skills They must have sufficient technical knowledge regarding the subject matter of negotiation and must guide the chief negotiator in their area of expertise. They must have good communication skills, which will play an important role in making the negotiation process successful. They must understand the main purpose behind the negotiation process before hand. They must be at par with the basic negotiation substance. The must help the negotiator in collecting as much information as possible (Goldberg et al., 2014). The responsibility of the team members does not end with the deal. They should also play a role in follow up. Supplier Customer Internal issues Absence of preparation and lack of information could play a major role in hindering a negotiation The scenario and time could also play a key role. If the time of the negotiation is not important then the negotiation could fail. The personality and skills of both the parties also play a key role (Craver, 2012). If the seller is not prepared about the kind of information relevant to the consumer then the negotiation could fail If the meeting is not kept at, a place suggested by the consumer, this could have a bad effect on the relationship with the consumer. External issues The financial environment can affect the negotiation. If the market is not doing well then, this could be harmful for the deal The poetical environment also plays a key role in determining the nature and outcome of the negotiation. The socio-cultural belief of the party also plays a crucial role in deciding the outcome of the negotiation The technological advancements also play a key role in the negotiation process. The requirement and financial needs of the consumers also play a key role in determining the outcome of negotiation The socio cultural belief of the consumer also plays a key role in determining the outcome of negotiation Challenges Power dynamics may play an important role in determining the challenges. If there are plenty of suppliers then the negotiation may be tilted accordingly. Power dynamics play an important role. If there are various suppliers of goods for the consumer, then he will be the dominant party in this negotiation. The results o the negotiation will be communicated t the decision makers of the firm. The senior management along with the supervisor will be provided with the explicit details of the negotiation process (Rubin Brown, 2013). A written document containing all the details of the minutes of the meeting will be presented. Alternatively, the customers and the suppliers will also be provided with the details of the process. A copy of the details will be kept with the team as well Agenda for negotiations: To successfully establish a healthy relationship with the client To establish the terms of agreement To finalize the deal To engage in a win-win situation. References Craver, C. B. (2012).Effective legal negotiation and settlement. LexisNexis. Firth, A. (Ed.). (2014).The discourse of negotiation: Studies of language in the workplace(Vol. 15). Elsevier. Goldberg, S. B., Sander, F. E., Rogers, N. H., Cole, S. R. (2014).Dispute resolution: Negotiation, mediation and other processes. Wolters Kluwer Law Business. Pruitt, D. G. (2013).Negotiation behavior. Academic Press. Rubin, J. Z., Brown, B. R. (2013).The social psychology of bargaining and negotiation. Elsevier. Tableware Directory | Tableware International. (2017).Tablewareinternational.com. Retrieved 22 November 2017, from https://www.tablewareinternational.com/tableware_directory/ Ting?Toomey, S. (2015). Identity negotiation theory.The International Encyclopedia of Interpersonal Communication.