Business Negotiations

Question 1

You are a business negotiations consultant who has been hired by a start-up company to create a training guide for its newly hired procurement specialists.

Write a 1,050- to 1,400-word negotiations training guide that includes:

• Elements of business negotiations
• Specific negotiation tactics pertaining to purchasing relationships
• Importance of supplier relationship management in negotiations
• Examples of successful negotiations
• Pitfalls to consider when entering into supplier negotiations
• The type of negotiations team that the company should develop (i.e. key members)
• Financial outlook – the impact on financial results

Question 2

Apply the concepts and strategies discussed throughout this course to an authentic scenario. You will employ outsourcing skills and make professional decisions while working through the details of this assignment.

From your course pack, please read the Lego case study. In a Microsoft Word document, please answer the following three questions (please note that this is a different structure compared to the prior case study analyses). Please then upload your analysis below.

1. What were Lego’s main expectations and takeaways from the relationship with Flextronics? Were these expectations met?
2. What are the key challenges in maintaining a relationship like the one between Lego and Flextronics?
3. How can Lego handle the supply chain complexity to improve knowledge sharing, flexibility, and coordination?

Minimum of 500 words