We have been working on a business entity analysis assignment. In that assignmen

Question

We have been working on a business entity analysis assignment. In that assignment, you began by considering what your dream business would be, your concerns and the different forms of ownership available. Now it is time for you to complete and submit this analysis, using the following format: Describe in detail the business venture- Next, using the business entities chart on Moodle, describe your primary concerns for this business (i.e. personal liability, capitalization, alienation, duration etc.) Choose an entity and explain how this addresses your concerns. Remember- there may not be a perfect choice- so consider other options (i.e insurance.) But be sure to address all your concerns Explain why you are rejecting other forms/options This should be done in essay form, remembering that the point of this assignment is to demonstrate your understanding of the differences of all of the business entities and their impact on the issues.

Explanation / Answer

1)Procurement is playing an increasingly important role in helping major corporations achieve their savings and profitability objectives.What companies buy has been increasing in importance, size and complexity and thus how company buy has changed. Leading procurement organisation is exploiting several opportunities to leverage the corporate buy, optimize the supply base,minimize the linked cost in the supply chain and maximise the value of goods and services to the users.Strategic sourcing can be taken to a new levels and applied to the business designs that will shape the corporate revenue realisations as well as competitive cost position.

2) Four components of legal contracts are as follows: Offer, Acceptance ,Intention of legal consequences and Consideration.

3) Negotiation process which is made up of five steps. Negotiation permeates the interactions of almost everyone in groups and organizations.

Step 1- Preparation and Planning : Before the start of negations one must be aware of conflict the history leading to the negotiation the people involved and their perception of the conflict expectations from the negotiations etc.

Step 2- Definition of Ground Rules :Once the planning and strategy is development one has to begin defining the ground rules and procedures with the other party over the negotiation itself that will do the negotiation. Where will it take place?

What time constrains, if any will apply? To what issues will negotiations be limited? Will there be a specific procedure to follow in an impasse is reached? During this phase the parties will also exchange their initial proposals or demands.

Step3: Clarification and Justification:-

When initial positions have been exchanged both the parties will explain amplify, clarify, bolster and justify their original demands. This need not be confrontational.

Rather it is an opportunity for educating and informing each other on the issues why they are important and how each arrived at their initial demands. This is the point where one party might want to provide the other party with any documentation that helps support its position.

Step 4: Bargaining and Problem Solving:The essence of the negotiation process is the actual give and take in trying to hash out an agreement. It is here where concessions will undoubtedly need to be made by both parties.

Step5: Closure and Implementation:

The final step in the negotiation process is formalization the agreement that has been worked out and developing and procedures that are necessary for implementation and monitoring. For major negotiations – this will require hammering out the specifics in a formal contract.

Negotiation Process has five stages. In all steps of negotiation process the involved parties bargain at a systematic way to decide how to allocate scarce resources and maintain each other’s interest.

4) There are two main approaches to any negotiation situation: distributive and integrative strategies. Each are useful in specific contexts, and the same negotiator may use either strategy depending upon their goal. We encounter distributive negotiation every time we buy a car or ask for a discount on an as-is item. Integrative negotiations happen on an ongoing basis, such as agreeing to let our children go to bed an hour later in exchange for mowing the lawn.

Distributive Basics

Distributive negotiation is appropriate in "divide the pie" situations, when there is a fixed amount of resources and whatever one party gains, the other party loses. Usually it's employed when the parties don't know each other and don't believe they will need to develop a relationship with each other for use in the future. A distributive approach to negotiation is usually what we encounter when we make a purchase.

Distributive Tactics

In distributive bargaining, it's best to keep information to yourself while trying to get information out of the other party. Let them make the first offer, since this lets you know what they're willing

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