Choosing Monitoring Systems.

Type of Monitoring System	Effect of system on Staff
Written summary reports provide staff with results of their actions and figures.	This system encourages staff to organise their thoughts and review their activities.
Personal reports and regular meetings held with each team member to assess progress.	This allows for informal updates and facilitates early warnings of potential difficulties.
Open-door policy with individuals encouraging day to day discussions at any time.	These demonstrate strong support and enthusiasm among your staff.
Staff appraisals and formal staff interviews to assess performance and set new targets.	These produce improved results if applied continuously and sometimes informally.

Tips for managers on monitoring

1 Encourage your staff to seek clarification if they are unsure about any of set objectives.

2 Keep your mind firmly on outcomes you are seeking and let staff know about them.

3 Help your staff to improve output by asking the following questions:

a) Is there anything you think could be done better?

b) What am I doing that is stopping you from performing your job better?

c) Can I do something that will help you to excel in the performance of your job?

d) Is there any way in which we can change the project in order to achieve better results?

Being Competitive is one of the majored goals of a business Organisation

Entrepreneurs who spot and exploit new business opportunities are inspirational people. They know that it is vital to accept the risk of possible failure to achieve anything worthwhile. You as a modern progressive manager, you should emulate such entrepreneurs by viewing risks and threats as opportunities (Can Do Attitude). The more you behave like an entrepreneur, is the more successful you will be as a leader.

You should realise that every opportunity involves risk, but before you start a project, and after analysing the project, you must have complete confidence in your ability to win.

Tips for Entrepreneurs

1 Do not gamble when the risk of large losses is great, but analyse your judgment of large loss.

2 Do not aim to compete with your competitors but, aim to beat your competitors?

3 Always assume that competitors will beat you unless you fight them vigorously.

4 Never ignore signs of your customers preferring other competitors’ products, NEVER!!!

5 Always keep up to date with the progress of your competitors.

6 Always analyse your strengths, weaknesses, opportunities and threats, and those of your competitors.

7 Keep abreast with changes and developments by analysing trends in your field.

Negotiation with others 148

Negotiation happens when someone has what you want and you are prepared to bargain, for what you want. It involves two or more parties who have something the other party wants; it is a process of give and take (bargaining).

It is process which ends with a win/win or win/lose situation for one or the other party. To achieve a win/win result you need to be well prepared, alert and flexible.

For successful negotiation you need a game plan – your ultimate aim and strategy for achieving your plan. Thorough preparation before entering into negotiations will facilitate the success of your game plan.

Understanding the Principle of Exchange during Negotiations.

An understanding of the whole process of involved (Preparation, Proposal, Debate, Bargaining and Closing) during negotiation can create successful outcomes for all the parties. The central principle to successful negotiation is the Exchange Principle the Give and Take Principle: which means that “in order to get something from someone, you must give something.”

The key to understanding negotiation is to realise that all the parties to negotiations need to gain something valuable in exchange for anything that they (concede) give. It is only then, and then only, when all the parties feel they have gained something for themselves for what they have given away, that agreement can be reached. Negotiations are not like sport where one wins and the other loses, in negotiations both or all the parties win i.e. they gain something from the other party because they have given something to that the other party.

Cultural Differences

In the modern global economy different cultures approach negotiations in very different ways. For example, Europeans and Americans often find the Japanese reluctance (avoidance) to engage in outright combative confrontation confusing and ambiguous. On the other hand, the Japanese find the apparently unequivocal statements or view points unsubtle and difficult to work into a compromise.

Tips for Successful Negotiations

1 Keep in mind that it is almost impossible for a negotiator to do too much preparation.

2 To be a successful negotiator you should learn to “read” the other party’s needs.

3 Start by visualising your gains not losses and practise negotiating to improve your skills.

4 Determine your strategy negotiation style and be ready to compromise timeously.

5 Never negotiate from fear and never fear to negotiate, US President JF. Kennedy, 1961.

6 If an agent negotiates for you, define the agents’ responsibilities clearly.

7 When negotiating define your parameters and know where you can give ground.

8 Understand stages of negotiation Preparation; Proposal; Debate; Bargaining and Closing.

9 Remember that all parties want to gain something, therefore you need to compromise.

10 During negotiation flexibility is a sign of strength not weakness, but do not be hasty.

11 Identify the issues and objectives and write them down before negotiating.

12 Distinguish between what you need and what you want from your negotiations.

13 A negotiation is a process of gradual convergence towards agreement or compromise.