Relationship Mgmt Flashcards
Networking (Internal and External)
A process of developing mutually beneficial contacts through the exchange of information.
Internal: ppl who you interact with on a regular basis
External: ppl outside the orgz with whom you work regularly
Stakeholder Concept (Who are your Stakeholders?)
The objective of a business is to create as much wealth as possible, which is returned to shareholders in the business, and that mangers’ objectives, both in the short and long term, should be maxamization of profit.
Who? Anyone that you are affecting or is affecting you (EEs, Investors, Customers, Communitiies, Suppliers, Political Groups, Governments, Trade Association).
Benefits of Building Relationships (Inside/Outside Orgz)
- Improve the quality of communication
- Increase productivity
- Create a positive work environment
Paths to Effective Work Relationships
- Strive for diversity in the range of your relationships
- Invest time/energy in developing relationships
- Develop an ease with ‘small talk’
- Learn to ask about others w/o prying
- Be considerate of other ppl’s time
Conflict Resolution Mode-Accommodate
Emphasizing agreement and downplaying disagreement–sacrifice own viewpoint to satisfy that of another
Conflict Resolution Mode-Assert
Leader imposes a solution. One side wins and the other loses. (WIN/LOSE)
Conflict Resolution Mode-Avoid
Leader withdraws from the situation or accepts it, leaving conflict to be resolved by others or remain unsolved.
Conflict Resolution Mode-Collaborate
Accept the fact that they disagree and look for a 3rd way, a new solution to the problem.
Conflict Resolution Mode-Compromise
Leader asks to bargain altering positions on different issues until a mutually acceptable solution is defined.
Approach to Negotiation-Soft Negotiation
Value the relationship more than the outcome, they will back down on issues in the interest of reaching an agreement–even if they are no longer getting what they need.
Approach to Negotiation-Hard Negotiations
Committed to winning, even at the cost of the relationship.
Approach to Negotiation-Principled Negotiations
Negotiators aim for mutual gain. Interest-Based relational negotiating. Focus on the problem instead of personal differences and on mutually beneficial outcomes rather than hard positions.
Negotiation Process
- Preparation: Know your needs and their demands. (BATNA)
- Relationship Building: Create trust
- Information exchange: Understand positions/perspectives
- Persuasion: Find mutual benefit
- Concession: Find what is not essential
- Agreement: Confirm and document.
How to Create a Professional Network
- Give deliberate thought to who you want to include in your network
- In all social situations, introduce yourself, and act others life, listen, remember
- Make yourself more visible, attend conferences
- Develop your own value, become an expert in a topic
- Do favors
Stakeholder Perspectives in Global Orgz
Local cultures may influence the stakeholder relationship in a distinctive way for example:
- customers expectations of service will vary globally
- in a culture that values long term relationships, suppliers might not understand being asked to reapply
- employees in different countries value certain kinds of benefits.
