What type of negotiation would you use

Reference no: EM133381423

Working for a business consulting firm called AP&C as a "Business Development Manager". Your responsibilities include growing your client's base. A potential client is eager to hire your firm for a major project. The project is planned to run for two years. After analysing the project and its requirements, your estimates indicate a total cost of $350K with estimated revenues of $580K. Some of the requirements to work on the project are to provide: • evidence that your firm is financially stable. the client requested financial statements, such as a balance sheet and a current bank statement; • contact details of clients that you provided with similar services previously; • special licenses and qualifications of your firm's consultants. Please provide detailed answers to the following questions:

1. List all stakeholders that you should seek their approval from before providing such information to the client? Why do you need their approvals?

2. What legal concerns might you have?

3. One of the stakeholders disapproved of releasing a bank statement due to its confidential classification-research alternative documents.

4. To work on this project, you need to seek approval to budget the $350K over the next two years. a. Who is your audience (identify all relevant stakeholders)? b. What is the purpose of your communication? c. Write the purpose as a specific objective d. Based on your audience, how would you address the following (please justify all your answers) i. the level of language to use, ii. simplicity vs. technicality of information, iii. visual aids. e. Writing the request: i. Which type of correspondence would you use? Why? ii. Which topics would you present in your request to convince the stakeholders? List all that apply. iii. Write the formal correspondence.

5. The stakeholders approved your request for funds which you submitted in Part A above. You submitted your organisation's proposal to the client. Knowing that there are very few other consulting firms that can provide quality work similar to AP&C, you raised the price to the client to $610K. After carefully analysing your proposal, the client contacted you with a request to lower the price to $545K. You ask for more time to re-evaluate your proposal. However, the client requested that you meet to negotiate the price as they need to start the project soon. Please provide detailed answers to the following questions:

1. What type of negotiation would you use? Why?

2. Who are the stakeholders that you would consult with while preparing for negotiations?

3. To decide on your appropriate negotiation strategy, you need to prepare for negotiations by gathering information and understanding your client. What information would you have to define?

4. What are AP&C's: a. most desired outcome in terms of price b. least desired agreement in terms of price?

5. What are the client's: a. most desired outcome in terms of price b. least desired agreement in terms of price?

6. How would you build and maintain a good relationship with the client?

7. Based on the information provided in the scenario, what potential issues do you expect to deal with? List three and explain why you think these are potential issues.

8. How would you deal with cultural differences?

Reference no: EM133381423

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