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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 16, 2023In:

It is nothing new that a business owner or business manager must have been negotiating skills, as that will be proved important when talking with customers as well as interacting with suppliers and investors. Personally, I believe that one of ...Read more

It is nothing new that a business owner or business manager must have been negotiating skills, as that will be proved important when talking with customers as well as interacting with suppliers and investors. Personally, I believe that one of the reasons why most negotiating practice by some business owners end badly, is because they only look for their interest only, rather than also including the interest of the other party. What do you guys think about this?

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bad business decisionsbusiness practice
  1. Avarose
    Avarose Enlightened Mentor

    One of the main reasons business negotiations fail is when people focus only on their own goals and ignore the other party’s needs. Other reasons include poor preparation, lack of clear communication, rushing decisions, or letting emotions take over. Successful negotiations usually come from understRead more

    One of the main reasons business negotiations fail is when people focus only on their own goals and ignore the other party’s needs. Other reasons include poor preparation, lack of clear communication, rushing decisions, or letting emotions take over. Successful negotiations usually come from understanding both sides, finding common ground, and building trust so everyone feels they’ve gained something.

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 19, 2023In:

One of the main things that affect a business ability to grow and develop as well as a business ability to achieve goals and objectives in which the management of the business have estimated, is taking up irrational business actions ...Read more

One of the main things that affect a business ability to grow and develop as well as a business ability to achieve goals and objectives in which the management of the business have estimated, is taking up irrational business actions and decisions without having the full details of the underlying reasons why a particular thing should be so or not be so. To make informed judgements and decisions in your business, carefully and exhaustively examining and reviewing your business records and accounts can absolutely go a long way in helping you achieve this.

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business decisionsbusiness practice
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    Ultimately, you should always have as complete a set of information as possible prior to making any decision regarding doing business; however, there will be times when it is impossible to obtain all of the necessary information. If you have enough reasonably accurate data to minimize risk and be inRead more

    Ultimately, you should always have as complete a set of information as possible prior to making any decision regarding doing business; however, there will be times when it is impossible to obtain all of the necessary information. If you have enough reasonably accurate data to minimize risk and be in a good position to choose wisely, that is paramount. For business owners, knowing about the market, cost, revenue, competitors, and the potential of difficulty with any decision they choose to pursue should be a priority. Having good data can help you avoid making poor decisions, as well as help improve your planning. Generally speaking, if you wait for all of the data before moving forward, you could seriously delay your progress. Most successful operations utilize the available information, experience and/or and careful analysis to reach a decision then are willing to make changes according to new data that may arise within the process.

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