BUS403 Negotiations and Conflict Management course starts with studying the conceptual framework of negotiation as it applies to the areas of negotiation in the private and public sectors. The student will focus on business negotiation skills as well as the strategies that have been designed to maintain healthy business relationships. Furthermore, with this course, the students will be able to explore the concepts, ethical issues, processes, strategies, etc. related to negotiation as well as appropriate conduct in multicultural business contexts.
Negotiation is defined as the interactive process for advancing the students’ individual and joint interests. Every transaction with another individual requires negotiation. Sometimes the same methods of negotiation are used in the personal, professional, and political worlds. While learning through BUS403 assessment answers, the students will find negotiation, relationship management, and conflict resolution to be complex processes. Successful practitioners should apply a mixture of analytical, perceptual, persuasive, and interpersonal skills.
In the modern business environment, business managers expand their business operations through successful negotiations as well as the long-term relationships they develop among two, three, or more parties. These relationships can be broken down because of ineffective negotiating behavior as well as conflict management approaches. Breakdowns might also occur due to misperceptions and misunderstandings about the other parties' positions and interests.
In this course, the student will study the theory, processes, and practices of negotiation, conflict resolution, and relationship management in order to become an effective negotiator in various situations. The effective and ineffective strategies will be examined, and the reasons for their effectiveness will be discussed, as well as successful alternatives. BUS403 task answers will help in identifying the patterns of conflict resolution and negotiation in different national and cultural contexts for an understanding of the way personality, culture, interpersonal style, and other variables affect negotiation as well as decision-making skills. This course is associated with Saylor Academy.
Brief on BUS403 Negotiations and Conflict Management
This assignment is divided into 6 units. Unit 1 is "What Is Negotiation?"Negotiation occurs in a variety of contexts. While the course objectives focus on the principles of negotiation and business negotiations and their application to a vast range of public, personal, and business situations, For example, at home, a person might negotiate a curfew with their teenager or a new home purchase.
At work, they might negotiate a new project with employees, a purchasing contract with a new vendor, or a merger between two major corporations. In the public sector, they might negotiate a new school board policy, language in a bill, or an international trade agreement with China. Irrespective of the context, the principles of negotiation remain the same. Whether a person is engaged in a friendly exchange or a high-stakes conflict resolution, they are engaging in two-way communication to reach an agreement. The same skills are used by diplomats for negotiating international peace agreements that will help you become a more effective business negotiator. Approximately 7 hours are needed to complete this unit.
Unit 2 is about negotiation strategies and biases. Successful bargaining means looking for positives in every possible circumstance, which can only be accomplished with careful planning. The strategy being used in negotiation is reliant on the outcome that an individual desires. Understanding the strategies, principles, as well as tactics that effective negotiators use will help in become more confident while choosing a negotiation strategy in order to accomplish their goals. It is important to be knowledgeable about what motivates the students and their counterparts to make decisions.
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In this unit, the student will explore various biases that affect their decision-making and the ways they can use this knowledge to overcome obstacles to effective negotiation. Further, the students will apply these concepts to specific negotiation theories for creating value for all participants in the negotiation. For the completion of this unit, approximately 13 hours are required.
Unit 3 is about processes and phases of negotiation. After the completion of Units 1 and 2, there will be the availability of various negotiation approaches to help manage conflict effectively. Some basic principles from negotiation theory will be considered in this unit, and they are a competitive and collaborative negotiation strategy. Four phases will be exmanined in the negotiation process, and the ways of implementing each phase for accomplishing an effective negotiation. For completion of this unit, approximately 15 hours are required.
Unit 4 focuses on Managing Different Types of Business Negotiations. This unit includes exploring the factors that are important for negotiating in an organizational context, which involves ironing out contracts with suppliers, salary negotiations, settling contract issues with a labour union, and negotiating a merger. Consider ways to negotiate as the underdog in business-to-business transactions. In transformational negotiations, the counterpart is a partner, rather than an adversary, in engaging in a collaborative effort to build a long-term strategic partnership. Approximately 14 hours are needed to complete this assignment.
Conflict Resolution is the topic of Unit 5. Conflict is a part of our daily lives and, if managed properly, can be a valuable tool for generating a tremendously positive influence in a personal environment. Functional conflict can generate deeper understanding, provide an opportunity to learn about and engage in new and exciting opinions and ideas, and help in enhancing and strengthening personal and professional relationships. In this unit, some alternatives to the potential lose-lose outcome of the conflict will be explored.
Unit 6 is about International and Cross-Cultural Negotiation. Negotiating across cultural and national boundaries raises additional challenges for negotiating participants. Culture creates biases in an individual's motivations, interests, perceptions, and strategies, giving rise to a host of conflicts in the negotiating process. International negotiations are impacted by historical events, nationalism, topographic conditions, multilateral alliances, legal restrictions, tariffs, geographic distance, and political conflicts.
Weightage of this BUS403 Course Code have in their Semester
The weightage of this course is high. In this course, the student will study the theory, processes, and practices of negotiation, conflict resolution, and relationship management in order to become an effective negotiator in various situations. Effective and ineffective strategies will be examined, and the reasons for their effectiveness will be discussed, as well as successful alternatives.