Negotiation in Business: Role & Sharing for Fair Outcome - Essay Sample

Introduction

Negotiation is critical in business and mostly intends to ensure that the parties involved gain from the business. Besides, negotiation is usually based on the offer that each party brings on "table". This implies that the role that is played in a particular business may influence negotiation and even how the amount available will be shared. This is usually done to ensure that each party gets its rightful share. For example, the insurance sector is among the common businesses in the market where the securities negotiate for businesses. Each company tries to obtain a stock that will provide them with maximum benefits to avoid making losses. The two articles presented will be compared in terms of their planning and how they impacted on both situations and how the strategies may suit the work setting.

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Assess How Planning Impacted the Negotiation Process in Both Situations

Planning is essential in business negotiation because of the significant impact that it creates in the market. Planning entails several processes that ensure that the business has embarked on the crucial aspects of the market and those that will offer a higher payoff. Amazon and Berkshire Hathaway are tow companies operating in different markets. Amazon deals with an online company that provides links sellers and buyers in the market and that which facilitates shipping of products all over the world.

The company has become a household name in recent as most individuals are embracing the new technologies in the market. On the other hand, Berkshire is a holding company that owns shares in several companies operating in the world market (Linder, 2012). The company is owned by Warren Buffett and has recorded tremendous performances in the market in recent years because of increased businesses.

In essence, planning has impacted on the negotiation processes in both companies. For example, it is through planning that Amazon has been able to identify the opportunities in the market (Lang et al.,2012). The company has been able to establish some of the existing gaps and has been able to set up several objectives to be achieved in the market. The purposes have helped the management to have certain targets after a certain period to ensure that their goals come into realization.

Amazon has been able to study some of the expectations of buyers in the market, which is one of the best ways to begin negotiations. The company has ensured that they can offer what their customers are in need. The same applies to Berkshire, that provides capital to its clients. In essence, having a better capital structure in the market can be quite challenging for companies. As a result, the company gets businesses from several firms that need financial leverages.

Besides, another aspect that is associated with planning in a negotiation that can be depicted in the two articles is the concept of market prices. The two companies understand that in their planning, they need to consider coming up with certain products or services that will create high demand in the market. As a result, high market forces that are achieved through planning ensure that the companies can gain more from the market because of the reasonable prices that they receive in return. Therefore, Amazon has been able to retain a better share in the business (Lang et al.,2012). The same case applies to Berkshire that gains high interests from the different holdings that it has been able to establish.

Compare the Two Selected Strategies and How They Might Apply in Your Work Setting

Both strategies are focused on Customer needs. This refers to evaluating the requirements to the customers in the market and offering them the same. Both companies have ensured that their customers are able to get what they are demanding. As a result, the company has been able to record high sales hence, creating a wide path for their revenue in the market. Therefore, this has been used by the two businesses as a way that they use in retaining customers.

The need to create a more extensive customer base is usually achieved through maintaining the old customers that ensure that the business is having to experience a smooth run. This might work well with the work setting as the firm intends to have a certain number of customers within a particular period. Besides, having a particular number of customers makes it easier for companies to meet the demand and needs since they get customer feedback regularly.

The two strategies are utilizing marketing departments to ensure that the organization is securing the best business. Marketing has proved to be among the best ways in the articles that the management is using to help the business reach out to the end consumer (Lang et al.,2012). This entails the use of personnel and modern strategies for the company to get into the market with ease.

The level of returns tends to be affected by the level of intensity that has been put in place by the departments. It is because of this reason that the performance of the two organizations tends to differ. Therefore, this implies that building one of the best teams in marketing will aid in achieving both short- and long-term goals in the market. In addition, such teams will help in managing some of the common challenges that might arise.

The Two Strategies Cheap and Do Not Require Great Advertisements That Consume More of the Organization Funds.

The two companies are spending less on their negotiation in terms of funds; hence, this has helped them to be able to save a lot for other essential activities. Saving is essential in the industry, and most organizations often look upon cutting down on the operational costs in order to meet their profitability goals. As a result, both organizations have been able to define their new source of income. This strategy is key in the market and can suit an organization that needs to save some of its partial income that is realized in the market. In the long run, the amount can be used to facilitate more services that lacked in the organization.

Finally, another interesting aspect that I was able to realize in the two companies is the ability to be able to solve challenges that the two companies faced as they tried to deliver for services in the market. In most cases, dealing with problems can be quite hectic because of the requirements that arise.

Therefore, the ability for both to manage their issues is one of the most important aspects that I have been able to learn from the exercise. For example, the two companies have been able to contain their competition levels in the market an indication of how dominant they have become. In most cases, some organization fear the threat of competition which commonly appears as growth is achieved. In this case, the two have been able to manage the different levels of competitors operating in the same market field. Therefore, the business has ensured that they are maintaining their customers.

Conclusion

To sum up, the strategies seem to be among the areas that the two businesses are mostly focused on. Good plans tend to reap good benefits as the outcomes are best, and the performance is maintained at a higher level. Learning some of the best negotiation skills is one of the best things that most businesses need to consider in the market.

The skills have proved that the company increases its chances of better performance in the industry. Besides, most businesses tend to identify some of the best skills in negotiations that are likely to offer them with high output in the market. The businesses should create new networks that enable the business progress from its current market level. Both Amazon and Berkshire are a product of modern strategies that aim at ensuring that the customer gains as the business gains as well. This mutual benefit is what ensures that the company remains relevant in the market because not only the interest of the organization is taken care of, but those of the customers as well.

References

Lang, S., Tinder, L., Zimmerman, J., & Harrison, J. S. (2012). Amazon. com: Offering Everything from A to Z.https://robins.richmond.edu/documents/Amazon.pdf

Linder, K. (2012). The Women of Berkshire Hathaway: Lessons from Warren Buffett's Female CEOs and Directors. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=V_r3vM8y4-QC&oi=fnd&pg=PR9&dq=+Berkshire+Hathaway+negotiation+strategies+&ots=ZpIjgmxY4k&sig=aKf5t2Wz_xESNBFZLIV-4r4BTkg