Negotiation Skills for Chicken with the Suppliers- myassignmenthelp

Question: Discuss about theNegotiation Skills for Chicken with the Suppliers. Answer: Negotiation 1 As a head chef, I have to negotiate the prices of chicken with the suppliers. Since the supplier wants to make higher profits and I want a lower rate, there is a need for a negotiation. First, I will have to convince the supplier that doing business with the bistro is a mutual benefit. I would ask for lower prices by giving a counter offer. However, if the supplier will not budge, I could negotiate for discounts that would work towards lowering the rates. It is imperative that the supplier has the idea that there are other suppliers as it will bring competitive pricing. Besides, I could agree to purchase more substantial amounts, and payments made in time and build a business relationship with the supplier. Keeping notes for different customers such as negotiation in progress, promises to buy, inability to pay, and scheduling of the buyers date is key to this negotiation. On the other hand, as the supplier I need higher profits and the head chef wishes me to lower the prices. To ensure competitive pricing, I would prefer that I offer discounts where the head chef purchases a certain amount of chicken. If I have to lower the price, the chef has to guarantee a long lasting business relationship. It ensures the stability of revenue. Agree to pay in time could guarantee that the chef may get discounts and the conflict would be solved. On both sides, effective communication and assertiveness are essential. Revenue stabilization is critical to business profitability and sustainability. The increased assertiveness in the communication criteria I use depicts a lot in the establishment of excellent customer relationship. I always ensure that I follow up on the customers that promised and agreed to pay for some goods like chicken and ensure that the right price is offered and paid for the same. Profitability is the main objective behind the sales I make. Negotiation 2 As the head chef, a safety council approved the restaurant twelve months ago. However, the environment officer states that the ceiling presents safety conditions. I should communicate with the officer effectively, and negotiate for a reasonable period to make the repairs. I should also reach an agreement to repair it by a months time. Besides, I should request for other approvals to ensure all standards are met. However, I would seek to place a complaint with the city council to ensure that a clarification is made and the industry criteria are met. As the environment officer, the head chef is on the wrong side of the law. The cellings condition does not meet the required standards. It is a threat to food safety in the consumer. The head chef needs to understand that the ceiling should be repaired as soon as possible. However, as the chef states, the same council approved the restaurant twelve months ago. There is a conflict. Since the head chef has presented a fair case, the problem may be solved by giving a statutory warning and requiring that the ceiling is repaired as soonest possible/ Negotiation 3 As the seller of the business, my goal is to reach a sale price gives a return on equity. Besides, it will be more beneficial that I get a higher sale price. First, I should effectively communicate to the buyer the assets that he/she will inherit after transfer of the business. Apart from the assets that can be measured in monetary terms, the buyer should be aware of the intangible assets such as goodwill. As a going concern, the business has relations with suppliers, consumers, and employees all of which cannot be quantified. These benefits should be accounted for in a better price. The proper quantification of intangible assets in monetary terms depicts the materiality level of that asset offered by the seller to the bargaining customer. The proper communication of the assets price by the seller to the buyer is key to increased business inheritance. As the buyer of the business, negotiating a lower price is the primary objective. However, the seller is pushing for a higher rate. To ensure that the amount agreed upon depicts the actual value of the business, I would request for information on the customer base, suppliers, and the creditors. Unlike the quantifiable resources, the strength of the business relations with other suppliers should provide an avenue to bargain for a lower price. Given bargaining power, customers would easily negotiate their suitable pay and hence ensure easy customer retention by the concerned business.