Assignment Cover Sheet

Student Name: Rabi Adhikari

Student Number: 65208
Course: Diploma in Leadership & Management
Assignment No: 5

Marking Criteria:

We expect the learners to write minimum one well expressed point in three lines against each
allocated mark. This means one needs to write 15 lines with 5 well expressed points to get high
grades for a 5 marks question.

For high grades use examples and illustrations where appropriate.

Please insert your completed assignment (in word format) here:

Q.1
i) The difference between bartering and negotiating can be presented in both
tabulated and paragraph form, but I would like to offer it in tabulated form,
opening with the definition of each word.

The word negotiation is embedded in a transaction where both parties have a

prohibition on the outcome. It requires voluntary consent on both sides. It is a
give-and-take process where the transaction's actual conditions are agreed upon.
It is the act or process of bargaining to reach a mutually acceptable agreement or
objective. It requires movement on both sides, real or perceived. It is also
embedded in solving technical issues. Answering questions, selling products and
services, up-selling products, and services, and sending alarm responders. But
the word battering is embedded in the act of trading goods or services between
two or more parties without the use of money or a monetary medium, such as a
credit card. In essence, bartering involves providing one good or service by one
party in return for another good or service from another party.

Bartering Negotiation
 1. An exchange of goods or 1. (Intransitive) To confer with others to
services without the use of come to terms or reach an agreement. For
money. For example, I have no example, there is a disagreement between
money, so I need to live by two of my colleagues. As an office senior, I
barter. need to commence dialogue with them and
2. The goods or services used in try to negotiate to minimize the conflict
such an exchange. Such as, I between them.
would like to use my watch to
2. (Transitive) To arrange or settle
barter to pay for my tab.
something by mutual agreement. Such as, I
3. It is to exchange goods or will negotiate the contract to everyone's
services without involving satisfaction. The client and server
money. Miss Anu would like to computers must first negotiate.
barter a bonsai for one of the 3. (Transitive) It is to succeed in coping with
rare books in her library. We or getting over something. E.g., I negotiated
may be able to barter for some the mountain track with difficulty. Although
of the items we need at the local the car was quite rickety, I could negotiate
market. the curves very well.
For example, If I were a seller in a supermarket, I would negotiate with my customers
about the possible services after sales of the electronic products.

ii) The examples of closing questions are embedded in more than five phases. The
first phase is the preparation phase which is very important during the negotiation
phase. The second one is exchanging information. It is deeply rooted in exchanging
information, is really an extension of preparation and allows both parties the
opportunity to study all the available information before a bargaining meeting takes
place. The third phase is bargaining with customers, where interested parties go
over their agreements and negotiate changes, sometimes one term at a time. This is
the stage where hostility and anger can become evident as the parties’ work on the
fine details of an agreement. The fourth phase of questioning is commitment and
closing, where negotiation assists in being ready for commitment and closure. The
fifth example of a closing question is embedded in negotiating, making it easy to
enhance business transactions.

iii) Negotiation skills are qualities that allow two or more sides to reach a
compromise. These are often called soft skills. Communication, persuasion,
planning, strategizing, and cooperation is examples of negotiating skills. A good
negotiator must understand these skills, which is the first step to becoming a
qualified negotiator. An effective negotiator should have the skills of communication,
active listening, emotional intelligence, management of expectation, consistent
patience with the circumstances, adaptivity, persuasion, planning, integrity, rapport
building, problem-solving, and decision-making.

iv) Specific tips for negotiating print and promotion are as follows.

Everyone in business, like, owner-manager, buyer, and seller, must get involved in
negotiating print and promotion. These tips may well help to reduce the costs and
improve our results. The negotiator must be aware of these questions. For example,
we prepare all the copy for the publication on your behalf, supply all the text on CD
or in electronic format, collect the finished product (instead of a delivery charge,
provide all photography, buy the paper separately and supply to the printer, provide
all the page planning and structure of the publication, could place this level of
business regularly, can introduce ourselves personally to our other individuals who
all place print at this kind of volume. The key effective negotiation skills are reframing
anxiety as excitement, anchoring the discussion with a draft agreement, and drawing
on the power of silence. Furthermore, asking the other party for advice and putting a
fair offer to the test with final-offer arbitration are also other examples of effective
negotiation skills.

V) The stages of the negotiation process are preparation, discussion, clarification of

goals, negotiating towards a win-win outcome, agreement, and implementation of a
course of action.
Preparation stage
The preparation stage is composed of various steps geared toward helping the
negotiator set the groundwork for the negotiation. In this stage, of course,
preparation is critical. Conflict can arise anytime, so there is no allotted timeframe for
the negotiators to prepare their negotiation techniques. Therefore, it is crucial to start
this first stage as soon as possible for further processes.

Define ground rules and exchange information

In stage two, negotiators will begin to communicate with their opposition, but work is
still to be done before any official negotiating can begin. In the second stage, their
primary focus is to establish the terms of the negotiation and exchange information
to improve the chances of a successful negotiation. At this stage, they'll also focus
on exploring the other side that provides them with an opportunity to test the
assumptions they developed during their initial research. It is also the best
opportunity to try and build a positive relationship heading into the negotiation. Even
if they come to the negotiating table with vastly different views, a sense of common
ground and understanding is beneficial. With effort, they can better understand what
the other side wants to accomplish and what potential solutions may mesh well with
their own goals.

Clarification

Before diving into the actual negotiations, it is crucial to ensure that both parties are
on the same page regarding the negotiation process. In stage two, negotiators can
take the time to understand the other side. You listened to their issue and what they
could gain from the negotiating process. They can explain their stance and what they
hope to achieve. Together, they should have established ground rules to ensure that
all relevant viewpoints and time are respected for the negotiation.

Bargaining and problem solving

Stage four is the stage where accurate negotiation processes begin. They have the
time to do their research and fully understand the issue. They will further understand
their concerns and hopeful outcomes and must take the time to seek any necessary
clarifications. It is time to advocate for their proposed solution and listen to the
opposition's counterproposal. In the bargaining stage, it is crucial to be aware of the
verbal cues of their negotiation partner and the non-verbal cues, including body
language. This process can be delicate, and under challenging negotiations, they
must sometimes move back a step to problem-solving until all parties are
comfortable.

Conclude and Implement

Bargaining can take time, but eventually, the negotiations must come to an end. A
solution must be reached, and it will ideally benefit both parties somehow. It is
important to make sure that all essential elements to establish the agreement
officially are in place. Thus, clarity is key to ensuring that everyone is on the same
page before implementation. This stage can involve signing contracts or legally
enforcing any other term during the negotiation process. Follow-up is crucial,
ensuring that implementation brings the desired effects for both parties.

Q.2

a) I believe that if I have no readymade answer while dealing with customers, my

honesty (This does not mean you tell the customer "I don't know". .), not making stuff
up or misleading, searching for answers, giving the customer an estimated waiting
time logically, informing the customer with a greeting (Thank you, you are great,
thank you for your cooperation), and closing gracefully (for example, is there any
other thing I can help you with, please?).

b) Understanding the reason for the request, brainstorming several solutions., firmly
but gently, declining the request, giving a reason for declining the request, offering
an alternative resolution as a last resort, asking for helping, turning down a meeting,
and saying no to customers are the possible strategies while negotiating with
different parties. One reason declining requests are essential is that negotiators have
a limited time in their day, and others may ask them to do more than possible. They
may take requests from clients, vendors, managers, and co-workers who are simply
unaware of their schedule and workload. Declining time-consuming or overly
challenging demands realistically communicate their capabilities and competence.
The second reason to politely decline requests is that, when done correctly,
negotiators can maintain relationships at your workplace. Further, if they offer
effective alternative solutions, they may improve workplace efficiency, teamwork,
and communication.

c) Angry customers are something that all online sellers will have to deal with at
some point. Creating exceptional customer experiences is a hot issue every modern
business strives for. Delivering happiness and knowing how to handle angry
customers is a crucial strategy, but it's a difficult task. Particularly in the e-Commerce
space, customer expectations are high as online sales continue to rise. On top of
this, retailers worldwide continue to grapple with ongoing supply chain challenges.

Recognizing the value of a difficult customer

Experiencing an angry customer, while unlucky, is often unavoidable. When a poor

customer experience occurs, it is never too late to mitigate and certainly never too
late to take on learnings. It is an opportunity to learn by turning a negative situation
into a positive customer experience. Managers must understand how a business
reacts to an angry customer can make or break the customer's perception of the
brand. Instead of fearing an angry customer, a company with a growth mindset can
use the situation to improve its product or service and build a better relationship with
its customer. Indeed, businesses should treat every complaint as a gift. Complaints
are packed full of insights that can help customer service teams improve and, in turn,
deliver value to several other unhappy but silent customers.

Find out how to turn this challenging situation around and deliver a positive
outcome
Choosing an actual work-related situation, providing enough detail about the
problem, but being concise, showing the manager's thought process and abilities in
problem-solving, and showing the manager's leadership, communication, and
technical skills are possible strategies to address the problematic situation. STAR
method would be suitable for addressing the challenging conditions where STAR
stands for situation, task, action, and result. I recommend the STAR model to
deal with a problematic situation in a company

1. Describe the situation. Explain the "situation" managers handle in one or

two sentences. This part can provide the hiring managers with context to
understand the rest of their forthcoming strategies to tackle difficult situations.
 2. Explain the problem The next component of the STAR method is explaining
the "task," which is the manager's role in a difficult situation. Detail their job
and responsibility to overcome the challenge.

3. Detail the steps you took to rectify the issue. Talk about the "action" you
took to overcome the situation. Explain your thought process for choosing
your actions, as specific as possible.

4. Describe the results produced. Explain the "results" you produced in this

portion of your answer. To conclude your answer, you may present what you
learned and how you plan to apply it in future scenarios

In this context, managers must ensure that the STAR model affects customers'
irritation positively.

d) Customers are a very critical element of business success. Understanding customers'

demands is a debatable issue in the global market. Managers have to plan to keep their
customers by digging into the subset with the most potential for deep and intensely
profitable loyalty. Discovering who these customers are, where to find them, and
how to engage them are managers' first steps to keeping them loyal. Cultivating
customer loyalty begins with defining the company's best customers, the people who
love what the company offers and are most inclined to engage in a long-term
affiliation. When managers create their loyalty initiatives, they must keep a clear
picture of these customers in their minds. As quoted by Ventures' Nortman,
managers must look for customers who see them as one of the top three brands in
their company. When they wake up in the morning, these are the brands they turn to

in their jobs or lives who are the customers the company wants. Companies must
ask, who are those people, how the company finds them, and how the company
makes them feel loved. Managers need to understand how the company gets real
insight and feedback from the demanding customers to feel heard and how it
communicates with valuable customers to understand them. Furthermore, managers
must make them feel happy as part of their decision-making process.

Managers must understand who buys consistently and is highly profitable and feels
a genuine connection when the company earns their loyalty, cares about their
experience as customers, engages by referring prospective customers, provides
testimonials, and communicates inside and outside the company's business via
social media.

A company manager's goal is to identify your lucrative loyalty because the company
will get its best returns when managers focus their energy and attention on them.
They have to speak with their lucrative loyalty by tailoring their programs, product
design, marketing, and other outreach to customers' wants and needs. When
managers are clear about their lucrative loyalty profile, they can target similar
prospective customers for acquisition. The company could provide a strong, clear
message about who they are and why they are worthy of their money. The more
they craft the messages they put into the marketplace to address their lucrative
loyalty, the better their chances of attracting and retaining these customers.
Rewarding customers are often confused with other customers who display
characteristics of commitment but aren't lucrative loyalty. These other groups are
limited loyal and lazy loyal. Tapping customers into positive feelings generate real
business advantages. When managers create experiences where customers feel
consistently seen, heard, and valued, the company win lucrative loyalty. When
people sense they are truly appreciated as customers, it triggers the emotional
connection associated with highly profitable loyalty.

e) The reasons for customers' dissatisfaction are embedded in unfulfilled demands.

Global business services now dominating the economic competition is fierce, and
differentiation through innovation is paramount. Incremental innovations no longer
suffice to acquire new customers, but radical or breakthrough service innovations are
now needed. Despite its economic importance, the service sector remains under-
researched by innovation analysts. Services are seen as innovation "stragglers with
weak intellectual protection and research and development spending growing only in
technology-intensive service companies. Innovative ideas capable of creating new
markets come much more sporadically once the company is in the growth phase.
The main reasons for customer dissatisfaction are deeply rooted with issues of
quality, issues with pricing, failure to meet specific expectations, failure to Meet
Perceived or Implied Expectations, usability issues, and customer service problems.
Every manager must address the critical reasons for customer dissatisfaction, but in
some cases, managers may not know the main reasons for their dissatisfaction and
their anxiety about their attitudes.

Student Statement:

By submitting this assignment, I confirm that this is my own work.

Student Signature: Rabi Adhikari Date: 04/05/2022

For Tutor / Assessor Use Only

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