Communication in Business: Individual Reflective Report

This simulation for business transaction has been highly challenging and tough, particularly forme. Throughout the process, I have learnt several critical elements that I had no idea about, andmost importantly, I have learnt about my weaknesses. Prior to this particular role play, I thought myself as an excellent communicator, and I recognized myself as a good talker who can communicate ideas, and convince others. Nevertheless, my communication and negotiation skills were exposed allowing me to identify my weaknesses that I need to cover. The entire process for role play was highly knowledgeable, as well as critical, as it allowed me, my team members, to recognize our mistakes and made us learn about our self.

My role within the team was to highlight the human capital strength of Zenur that was to be sold to Lenor. Along with me, there were two directors, marketing manager, and logistics manager. All of us had pre-defined roles and responsibilities while representing the multiple aspects, strengths, and highlight the business of Zenur. Even though we had gone through impeccable preparation process, nevertheless, the actual happening differs, at least from my perspective. I learnt it the hard way that over confidence and relying solely on preparation is not adequate for negotiation or communication. It is essential that we should be prepared for unplanned questions, unexpected circumstances. One should always expect the unexpected. I also learnt that maintaining assertiveness, confident posture, and gesture is necessary, however, it should also reflect through verbal communication. Non-verbal signals are important, yet verbal communication is highly important that steer the conversation either in your favor, or in the favor of others.

We were having a cohesive discussion, as directors were sharing information and discussing the causes and reasons for selling and acquisition. Initially, the environment was very calm, positive, as well as opens for discussion. Nevertheless, I was asked about the reasons for decline in overall performance of the business from 2016 – 2017. Since I was not prepared for it, and had a vague idea about financial performance of the company, I blamed absenteeism is the reason. Immediately, I regretted my answer, as absenteeism cannot be sole reason for decline in financial position, as it is related to human capital, and that is also related to working environment within the business. It means, that indirectly, I portrayed that the working environment of our company is not adequate; I consider it is not a good answer. Since I could not carry my composition and in the middle of the negotiation, I made another mistake and was to ask the offering price that was totally out of my role, and responsibility. I was there to represent the human capital aspect of the business and I did that, as I was asked, about whether the employees know about company being sold, and that I answer immediately that yes, there are our family. Coming back to overall negotiation process, that was based on collaborative negotiation strategy; I would rate it effective, and efficient, as the process was brilliantly carried out, despite some mistakes. Applying the collaborative negotiation strategy allowed us to have interest based conversation, in which both parties can win from the deal. With this negotiation strategy, no one dominates on the counter party, in fact finds out the path in which both parties can actually walk away with some benefit. Nevertheless, there were some weaknesses from our part, as I learnt that dominating and being aggressive can steer away the negotiation and conversation into a dump. I realized that the marketing manager lost his calm at a point, yet one of the director immediately clam his through his eyes. However, the essence of collaboration was missing, as we as a team were everywhere and could not deliver as we expected to deliver. The reason can be our, ill-mannered training, over confidence, absence of coordination, or everyone being a boss.

As I write this reflection, I realize that our roles and responsibilities were not accordingly set. We did not prepare our self mentally for the preparation. Initially, when the counter party came to meet us, one of the direct stood up and started the introduction, whereas it was the job of juniors, or the managers to do so, as directors are bosses and this particular act does not suit their designation. When logistic manager was ask about the fleet position, models, and car values, he started talking about the money invested, instead of providing the party with clear and concise picture of the company’s actual portfolio. Similarly, we reflected aggression and angry when talking negotiation about the price, whereas the counter party remained claim and subtle even we reflected anger. We prepared ourselves to remain calm, to be positive yet, the core element missing was the coordination in our team that led towards greater mishaps during the communication. We missed the answers, and we could explain what was in our mind. When we started to talk about the price, our financial manager could not convince others about the future growth of the company. Additionally, I believe that we made an impulsive decision as we started the conversation with 600$ million in mind, and sold the company for 475$ million. They bargained a lot from us, mainly because we lacked coordination, we lacked knowledge about our own company, or at least we failed to deliver convincing and to the point answers. We had no idea about our prioritize, like till what amount we can agree on the sales, and at what amount we will walk away from the deal. From this aspect, there is lot to learn. First of all, my realizing is about myself. I need to develop relevant and precise skills for business communication and negotiation. More than that, I need to work on informal, non-verbal communication tactics. I believe that during the negotiation, one should also remain calm and subtle and this should also be reflected to others in accurate and precise form. What happened with me was I made a mistake, and to cover the mistake, I made further mistake. It is good to be silent, when there is no role and speak with confidence, assertiveness and be logical.

Another critical is the presence of coordination within the team. This coordination is established while preparing for the conversation and negotiation. It is better to have several meetings before going into the actual conversation. I also learnt that presence of leaders, and leader actually playing the role of leadership is necessary, as well. The main reason is the fact that leader’s presence within the team motivates the team member as they can see someone up for motivation, correction and to cover up the mistakes. For me, I need to learn more about communication skills and negotiation skills. I need to develop my abilities around convincing others, sending the right message and actually making the difference.

With this simulation, I have realized my overall weaknesses, as well as my inability to comply with my role within the negotiation stage. Despite different tactics for negotiation, we need to make it certain that we have defined our terms and conditions and that are communicated within the team members, as well. By this means I can assure to gain relevant and precise skills attributed to good communication and negotiation that can eventually help me in further grooming myself for future corporate and professional world.