Background of the case.
The importance of the decision.
The company must have the ability to manage tasks. In addition, they must have the knowledge and ability to perform tasks. The importance of executive is decision because the decision is the heart of the administrate. However, the decision will be in almost every step of the work. Even individuals could not avoid the decision so it seems that the decisions are not to consider. But if this is a big decision, which means that if you make the mistake decision may become much damage or hard to solve. So most of decision should be considered carefully before deciding because any decision of the Executive may refer to the company's survival.
What factor can help to decrease error of making the decision? I think information is key. If you are looking for information and have a good information that can reduce of mistakes. So the characteristics of good information have 4 choices 1. Reliable Source 2. Accuracy 3. Intelligibility 4. Enough and 5. Current.
Causes of the wrong decision may be several reasons such as the decision on the basis of habit, lack of information or bad information, time limit or hurry, careless, some influences dominated, Biases.
The importance of the conflict.
What is the conflict? A common conflict is not understand or have no comments of a person or group of people. Due to the differences in attitude, beliefs, experiences, needs. Operational aim method.
Including goodwill that leads to the expression of feelings and actions that is different. This may result in a conflict. The conflict is a conflict within the person, between people, between a group and between the organizations
The importance of negotiation
Negotiate to help seek mutual benefit, reduce conflict and lead to an agreement which is always helpful.
The key to negotiating
1. Sincerity because it helps the confidence and trust
2. Understanding need to have both the content and understanding of human nature (Empathy)
3. Acceptance, It is important to recognize that partners need to both parties. The acceptance by the honor and respect, regardless of the value and dignity of individuals. Accepted as a basis of creating relationships in the negotiations.
4. Communication, the problem of failed negotiations caused by improper communication but most successful of negotiations is good communication. So communication is the basis of creating a relationship. Negotiations must start with a friendly, trust, peace of mind and feel comfortable to negotiate. Therefore, communication is like a door open to negotiation.
The negotiations will be successful. Would look as follows.
1. Both parties feel worth. If there is any parties feel not worth negotiations then was not successful
2. Receive benefit.
3. Most demand of both parties get the response
4. End the problem
5. Both parties glad to do to negotiate again.
Problem
Problem is the agreement of the foreign currency fluctuations value with a foreign partner.