Description of business and experience
Discuss about the Business Communication for European Economic Community.
In the modern world, one of the major ways to conduct business is to make sure that the people involved in the business are majorly knowledgeable about the different aspects including the analysis of different perspectives. Business is nothing but the act of making money by buy, selling or purchasing goods through money or other commodities.
There are different aspects of the business that need attention by the people who are conducting the business among which the act of Business Correspondence and Negotiation hold important parts. In my business conduction, I have experienced a number of instances related to business correspondence and negotiation which has given me numerous insights into the business world. In the following paragraphs, my reflective idea on Business Correspondence and Negotiation will be discussed along with various theories and analyses attached to it. These two concepts will help me in the future job. I want to be a marketing manager in future and both Business Correspondence and Negotiation will help me to proof m worth in my future organization.
Business correspondence is defined as the act of communicating the business in the written format within different sectors of the organization like customers, institutions and often between customers and the institution. In the recent seminar that I have attended, I have foud out that there are a number of needs for the act of business correspondence like serving as an evidence file of the business conducted as well as maintaining relationship and goodwill between the two parties associated with the business transaction. There are different types of business correspondence out of which the major ones are letters, E-mails and memorandums out of which E-mails are the best and mostly used option in the modern day.
The use of business correspondence that I have seen in my working experience is the need to advocate the essentiality of business correspondence in the different forms of business done by the organizations. There are numerous companies or even customers who are not loyal to the work ethics and even deviate from the role whenever they feel like which makes the importance of the said event even more important. I have seen in my work experience that many times due to the required business correspondence evidence, the customers or even the organization is able to proclaim their required and rightful objectives from the other party. Without the said document, many times the party that is disloyal to the whole transaction may fail to even recognize the deed leading to a great loss for the other party in question. When I saw the importance of business correspondence in the transaction related to the different activities related to business, the factor that mainly attracted me is the way that matters can be sorted by a simple use of the business correspondence deed. I think the method is realty apt for formal business transaction as it can act as an evidence for both the parties engaged in the institution. It can relate to the different types of other things that I know including the act of getting any legal formalities done in the scope of business and other events. The event of presenting a business correspondence every time with the business makes it one of the major events of making the whole act very fair and visible to the common eye. One of my major experiences that I had using the document of business correspondence is the save that my company had because of it. The customer tended to cheat on us by using unfair claims and providing fake reports of our promises and claims but due to the use of the said document, the customer had to pay a penalty for his false claims and also did not malign our reputation in such a fraud deed. This matter made me aware of the use of such a deed in the world of business where proves are the utmost needed thing and nothing can be done verbally. The use of the means is therefore one of the major in the case like any other legal formality as it makes the case way easier and less complicated to comprehend whenever facing any difficulties. In the course of the learning, I discovered the need of keeping records in business and also a personal record of all the happenings of the company so that in times of dire need, I get the opportunity to utilise the knowledge and records to save myself and my organization from being at fault. The various events that have led me to think about the act of keeping records and documents as one of the best things of the business world as with the said records, it is possible to keep a track of the happenings of the company with sorting. After learning this thing from the practical experience, it is possible for me to make arrangements in every case in times of need as with records, it is possible for me to make use of the things that can be a cause of trouble. With good keeping of records at business, it can be said that some of the major hassles of the business world can be mended or at least altered in the due course of time (Edel, 2017).
Interpret and evaluate the events from your perspective
Another topic that has been studied in my class is negotiation. Zartman (2015) opines that negotiation is a process that helps to reach to a conclusion between two parties. From this, I have found out that negotiation can be considered as a method where people try to settle their references. There are various forms of negotiation. These are informal negotiation and formal negotiation. There are various stages in the process of negotiation. These are as follows:-
- Clarification of goals
- Negotiate towards a Win-Win outcome
It is of crucial importance for both the parties to follow the process and all the stages of negotiation effectively. It is of great essence that that a proper decision and preparation should be there before the process of negotiation begins. A meeting needs to take place for the process and the basic problems need to be discussed. It is also important to set up a time scale for the process of negotiation. After preparation stage, next comes the discussion stage. It is of utmost essence for both the parties to discuss the issues. I have also learnt that the next stage is the clarification of goals. Goals can be of short term and long term purpose. Therefore, the primary objective of negotiation should be to clarify all the goals for short term and long term purpose. In addition to this, it can be also inferred that the process of negotiation needs to impose a win-win outcome for both the parties. Apart from this, there are several other concepts that I have learned for the concept of negotiation. It can be inferred that BATNA is the best alternative negotiated agreement where the current process of negotiation fails to reach any particular conclusion. It can be inferred that negotiator holds the right of BATNA to improve the outcome or setting higher goals of negotiation. It can be also inferred that verbal and non-verbal communication also plays a key role in the process of negotiation. It can be said that if there is a strong nonverbal communication, then the process of negotiation is bound to be successful and vice versa (Maddux, 2016). I have also found that there are certain barriers of negotiation process. These are as follows:-
- Lack of trust
- Informational vacuums and negotiator's dilemma
- Structural impediments
- Cultural and gender differences
- Communication problems
It is of utmost importance for all the parties of negotiation to nullify all the barriers of negotiation in order to make it successful for all the parties. From the above analysis, I have identified few key skills which can lead to successful negotiation. The questions which I have is as follows:-
Active listening- This skill plays a pivotal role in the entire process of negotiation. All the parties need to be an active listener when the other parties are putting forward their points. In addition to this, it can be also inferred that a successful negotiation can also takes place if both the parties can put forward their points effectively.
Emotional control- In the entire process of negotiation, all the parties need to control their emotions in an effective manner. Frustration can always lead to unfavourable results in the process of negotiation.
Ethics- All the parties need to follow an ethical approach in the entire process in order to make the process successful.
These are the things that I have learned from the concept of negotiation.
It can be said that both the aspects of Business Correspondence and Negotiation hold an important aspect in the overall business scenario of the modern day as with the emergence of different sorts of problems. This has helped me to change my view point about the conflicting situation and I want to become a marketing manager from here.
It can be concluded that it is necessary to keep a backup of the records and also to negotiate different parts and parcels in the manner. Both the concepts of business correspondence and negotiation help to maintain the business in the organization and make sure that the place is not manipulated or dragged into loses by both the employees as well as the clients.
Edel, A. (2017). The theory of business enterprise. Routledge.
Maddux, J. E. (2016). Self-efficacy. In Interpersonal and Intrapersonal Expectancies (pp. 55-60). Routledge.
Zartman, I. W. (2015). Politics of Trade Negotiations Between Africa and the European Economic Community: The Weak Confronts the Strong. Princeton University Press.
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