This paper analyzes the connection between negotiations and contracts.
Negotiations and contracts are essential elements in any business and it important to understand how they affect day to day operations of the business (Strulovici, 2015). While negotiations bring about parties for the purpose of agreeing on a business deal or resolving a problem, a contract is the signed agreement that outlaws the terms of engagement between the parties involved.
Negotiation is an important aspect of business because through negotiation there is room to make business deals or even settling disputes that may arise following a business undertaking by individuals or organizations. Parties engage in negotiation when seeking to establish business partnerships, and when discussing collective bargaining agreements among workers and their employers or business contracts between a hotel and events planners.
Inhaltsverzeichnis (Table of Contents)
- Negotiations and contracts
- Negotiation
- Contracts
- Negotiation break off
- Hospitality industry contracts
- Contract clauses
- Controversies
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This text aims to provide an overview of negotiations and contracts in the context of business operations, focusing on the hospitality industry. It explores the importance of effective negotiation skills and the critical role of contracts in ensuring smooth and successful business transactions.
- The importance of negotiation in business
- Key elements and considerations in contract negotiation
- The impact of contract clauses on business relationships
- Common controversies and challenges in contract negotiations
- The specific application of contracts in the hospitality industry
Zusammenfassung der Kapitel (Chapter Summaries)
The text begins by introducing the concepts of negotiations and contracts as essential components of business operations. It highlights the importance of negotiation in establishing business partnerships, resolving disputes, and achieving mutually beneficial agreements. The text then delves into the core elements of a contract, including offer, acceptance, and consideration, emphasizing the need for careful scrutiny and negotiation of key terms.
The text further explores the circumstances that can lead to negotiation breakdowns, including inadequate information, perceived disadvantage, unwillingness to compromise, and loss of trust. It then focuses on the specific application of contracts in the hospitality industry, emphasizing the crucial role of contracts in managing various aspects of hotel operations, such as conference planning, accommodation, and food and beverage services.
The text concludes by examining common contract clauses used in the hospitality industry, particularly those related to cancellation, attrition, and rebooking. It highlights the controversies surrounding these clauses and the potential for conflict between hotels and event planners.
Schlüsselwörter (Keywords)
This text focuses on the themes of negotiation, contracts, hospitality, business operations, contract clauses, and controversies. Key concepts include offer, acceptance, consideration, negotiation breakdown, attrition clause, cancellation clause, and rebook clause. The text also explores the importance of effective communication, trust, and mutual understanding in achieving successful business outcomes.
- Quote paper
- James Mageto (Author), 2017, Negotiations and Contracts. A connection analysis, Munich, GRIN Verlag, https://www.grin.com/document/369475
