Analyze the implications of globalization and technology on negotiations.

Expert Solution

First let us understand the meaning of negotiation.

Negotiation is the discussion between two or more parties to reach to the common agreement.

Generally negotiation happens between firms and the suppliers. In procurement process when the firm search, select, analyze and negotiate the vendor then As we know that the because of the globalization the one firm can approach many suppliers. Not only local but the global. The firm will have benefit because it will have many suppliers to negotiate and technology will help in that. Technology will ease the communication between the parties. So the communication will be very fast, easy and reliable.

The firms will have advantage because they have many options to choose from. The one supplier who will offer the goods at cheaper rate will be selected. So companies will be an advantage but the suppliers will be on disadvantage because competition will be increased. They have to be more cost effective in order to get the negotiation done.

Further the confidentiality will be increased because of proper technology. It is very important part of the negotiation. Another should not know at what price the negotiation has been done.

keosha answered 1 year ago

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