Assignment On Business Law For Managers

Submitted By Tina-S.
Words: 4414
Pages: 18
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Assignment On Business Law for Managers

Prepared By
LCA Student Num:
Anglia Ruskin ID:

Prepared For

Date of Submission
10 January 2014

Word Count: 3,944
Academic Year: 2013/14

Acknowledgement

I am thankful to many people who have supported and advised me during the writing of this assignment.
I am grateful to my honourable supervisor Ms. Christina Mccarthy, for his guidelines and several corrections. Without his proper lectures this study could not be done.
I am also thankful to the Dean and faculty of London College of Accountancy for the encouragement and inspiring environment for students. I am also pleased for the online and library resources of LCA which helped me a lot.
I am also grateful to the whole faculty members, staffs of LCA and also class mates who always gave support to complete this study. Finally, my special thanks to my family for supporting me.
I would like to mention here that, the plagiarism level of this paper is minimal and occurred for the references which I made. As I have taken help from various online resources, books, and journals as many researchers, students and teachers have also used in their study. I wish this level can be treated as normal.

And also to Almighty God, who kept me well and perfect to do this study.

CONTENTS

NO.
TITLE
PAGE NO.
1
QUESTION 1

CONTRACTUAL NEGOTIATIONS AND THE LAW OF CONTRACT
4-8
2
QUESTION 2

ALTERNATIVE DISPUTE RESOLUTION

9-12
3
QUESTION 3

THE AGENCY ROLE OF PARNERTS AND COMPANY DIRECTORS
13-21
4
REFERENCES
22-23

Answer to Question No 1
Negotiation
According to Harvard Law School, negotiation is a core leadership and administration skill to negotiate successfully of business contexts, including deal-making, employment discussions, corporate team building, labour/management talks, contracts, and handling disputes in a wide range.
To do a successful business good negotiation skill is mandatory (N Williamson, 2010). Negotiation is a stressful process because both parties want to take great advantages.
Two types of negotiations are main: 1. Confrontational approach, 2. Win-Win Approach (Routledge, Taylor & Francis Group, an Informa Business, 2013).

Confrontational approach
Where one will be benefited by others expense; is known as confrontational approach. For example, sale a motorcycle.
When there is no need of long-term relationship then confrontational approach is suitable, as one party will always lose in this negotiation.
But, it is harder to reach any solution. Moreover, it is appropriate only for single matter.

Win-Win Approach When both sides of an agreement achieve their desired advantages with a final solution, is known as win-win approach (Mind Tools Ltd, 2013).
But on the other hand, It can take long time and Sometimes one party will be treated lightly.
There are some tips for good negotiation which can be used to prevent business risks (Arthur F. Rothberg, Managing Director, CFO Edge, LLC , 2011).
1. The first speaker should have the main priority to get best outcome. The starting phase fixes other persons expectations. If opposite person have chance to offer first then it should be done because whoever makes opening offer will be at risk.

2. In a negotiation, one should try to avoid fake character and have confidence. Moral appeal can make negotiation smoothly. Flattery words and smoothly talking can make any deal easily.

3. Always try to maintain control in negotiation. One should not give away anything without something in return. If opposite party give commitment to give in return then it will be fine. But it will be best and safe to make deal on time.

4. Always clear and open language is preferable for both parties. Any ambiguity in language will be treated as a bad sing.

5. To avoid misunderstandings negotiation should be clarified and summarized.
Finally, it can be said that to make a successful negotiation some techniques must be needed. In a
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