Effective Negotiation Strategies and Decision-Making in Management
Negotiations: A Means of Resolving Conflict
Negotiations are a process in which a decision is taken jointly by two or more parties. These parties first express their conflicting demands, then try to reach an agreement through the implementation of concessions and the search for alternative solutions.
The aim of negotiation is to reach the best deal, not just any agreement. Characteristics of the negotiation process are:
- Existence of a conflict of interest that will be resolved through verbal interaction.
Service Sector: Characteristics, Types, and Operations
1.1 Service Sector
- Clark-Fisher Model: 5 stages (extractive, production, first services, trade services, social services)
- Riddle Model
1.2 Competitiveness
Levels: Countries, sectors, companies.
1.3 Productivity
Efficiency: Technical, economic.
1.4 Evolution in the Service Sector
- Technology (electronic services)
- Population changes
- Competence, rivalry
Key Characteristics of Services
2.1 Intangibility
2.2 Inseparability
2.3 Heterogeneity
2.4 Expiration (Perishable Nature)
Types of Services: Business Classifications
3.
Read MoreSocial Security Benefits: Eligibility and Types
C. Paternity.
The Equality Act recognizes paid leave for employed persons, freelancers, and members of other special schemes for the Social Security. It provides 13 days of uninterrupted leave, expandable to two or more days per child after the 2nd or 26th day if you enjoy part-time.
D. Temporary Disability (TD).
This applies to workers who are unable to work and need healthcare. To be eligible for sickness benefits, it is usually necessary to have contributed for 180 days in the 5 years prior to the
Read MoreBusiness Finance and Investment Strategies
Funding Sources for Your Business
Budget
A numeric plan to allocate resources to specific activities.
Loan
A contract by which one person or entity (borrower) receives money from another (lender) on the condition of returning it within a pre-established time and under specific conditions.
Leasing
A contract agreed upon between the company and a leasing company through which the leasing company acquires an asset in its name and rents it to the user company. This includes the value that the company will
Read MoreHiring, Market Research, Pricing, and Cost Analysis
Hiring Process at Generation Elect
Vacancy Identification and Job Description
- Job analysis
- Job description
- Job specification
- Job advertisement
- Job applications
Selection and Hiring
- Interviews
- Selection of the best applicant
- Job offer
- Vacancy filled
Importance of Skilled Workers for Generation Elect
It’s important for Generation Elect to recruit skilled construction workers since they will be able to build the dome properly, matching the quality required. This will help the business maintain its good reputation
Read MoreProduct Management: Key Concepts and Differentiation
Product Management – Lecture 2
What is a Product?
- A product is something that can be offered to a market to satisfy a need or desire.
- It can be a concrete object or an abstract concept that meets the needs and desires of consumers. Consumers are looking for objects, services, or ideas that enable them to live a satisfying experience or solve a problem.
- Consumers do not buy the products themselves, but the benefits they provide.
- Products can be tangible goods or services.
- Variables that make up a product: