Discuss the need and importance of negotiations in an agency-client relationship Essay Example

4IMPORTANCE OF NEGOTIATION

Discuss the need and importance of negotiations in an agency-client relationship

Discuss the need and importance of negotiations in an agency-client relationship

Although negotiations are usually a natural part of our daily interaction, it is also making people very uncomfortable. Many times, clients get lost following blunders in negotiation. It is, therefore, important for one to prepare and sustain good client-agency relationship in any business. Furthermore, client-agency relationship is an important aspect of any successful business partnership since it creates a bond between the two parties (Reimold & Reimold, 2003, 111). It is also significant to note that all successful businesses should be built on trust, mutual understanding, and confidence from both parties. Moreover, good negotiation between the client and the agency firm often help management team understand the client’s business objective as well as marketing issues in a more effective way. Good negotiations also stimulate healthy as well as working relationship (Perloff, 2010, 105-106).

Fisher et al., (1991, 150) also points out that it is important to keep client-agency relationship separate from those often involved on the business. It is also critical that the CEOS do not get involved into the negotiations since they find necessary to help solve the potential issues. Negotiations also pave the way for both the client and the agency to learn about one another. Moreover, negotiations are not only about the money, but can also entail a number of aspects such as licensing agreements, payment terms as well as turnaround speed among other things (Perkins, 2008, 78). The negotiation process provides a balance between identifying what the client requires by listening to them; know precisely what the agency needs, and then suggesting given actions in such a way that will make the client accept. It always aims at identifying a win-win resolution. On the contrary, there are common errors that often occur during the negotiation such as misunderstanding. For instance, the agency may lack clear goals before engaging into a negotiation or may not have a clear comprehension of the existing roles and errands for the negotiation team members. Thus, these relationships often call for a pro-active effort to help maintain the future growth of the business (DE Pree, 2004, 90-91).

References

DE Pree, M. (2004). Leadership is an art. New York, Currency.

Fisher, R., Ury, W., & Patton, B. (1991). Getting to yes: negotiating agreement without giving in. New York, N.Y., Penguin Books.

Perkins, P. S. (2008). The art and science of communication: tools for effective communication in the workplace. Hoboken, N.J., John Wiley & Sons.

Perloff, R. M. (2010). The dynamics of persuasion: communication and attitudes in the 21st century. New York, Routledge.

Reimold, C., & Reimold, P. M. (2003). The short road to great presentations: how to reach any audience through focussed preparation, inspired delivery, and smart use of technology. Hoboken, N.J., Wiley-Interscience.