Build and maintain Business relationship

Topics: Conflict, Interpersonal relationship, Management Pages: 18 (4768 words) Published: November 8, 2014
Build and maintain business relationships
Developing and maintaining business relationships2
Relationship management2
Benefits of developing business relationships3
Adhering to organisational requirements3
Building trust5
Trust techniques5
Negotiating positive outcomes8
Negotiation skills8
Phases of negotiation10
Effectively managing conflict12
The causes of conflict12
Recognise the signs of conflict13
Conflict handling methods15
Conflict management techniques and tactics17

Developing and maintaining business relationships
Relationship management
Business relationships, though not as intimate as personal relationships, still require on-going management and maintenance. Developing and maintaining on-going business relationships involves: an awareness of the requirements of your organisation—in your business relationships you represent both yourself and your organisation high standards of professional conduct and integrity, eg maintaining confidentiality an awareness of your own needs and expectations as well as the needs and expectations of the others in the relationship the effective use of interpersonal communication skills that build trust and confidence, eg active listening, effective questioning, empathy, clear and concise verbal and non-verbal communication consistency and fairness—ie a willingness to share information and be open and honest an appreciation of differences and a genuine desire to learn from these maintenance of communication and interaction—maintain regular contact with people once you establish a relationship conflict management skills, such as collaboration and negotiation. It could also involve:

collaborating on mutual objectives and joint goal setting/monitoring partnering
requesting and accepting feedback—one of the benefits of a business relationship is that you are able to receive and give feedback to improve the way you conduct business promoting mutual opportunities

sourcing/exchanging market and industry information.
Benefits of developing business relationships
Learning to build long-term relationships is something that will benefit your organisation. Obviously good business relationships will help you establish, retain and expand your client base. In addition, client relationships built on trust: generate targeted leads and referrals

increase the awareness of your organisation and its products and services within the community expand your professional network contacts
assist you to gain recognition and influence in your industry and community create opportunities to expand the range of products/services offered by your organisation. Adhering to organisational requirements

When you work for an organisation, you represent that organisation. Whenever developing business relationships it is important that you behave in a way that is consistent with the requirements of your organisation. Organisational culture refers to the shared values and beliefs within an organisation. This includes the image of the organisation and the accepted practices that create the culture of that organisation. Business relationships are affected by the organisational culture and codes of conduct and standards, whether determined internally or imposed from external sources like the Office of Fair Trading. Formal organisational values and beliefs are communicated through: vision statements—a statement summarising an organisation’s values and direction mission statements—a statement saying why an organisation exists and what it hopes to achieve goals and objectives—what the business aims to achieve

plans—eg business plan and marketing plan
legal and organisational policy/guidelines and requirements—rules that set out the behaviours permitted or expected by employees, often based on government regulations or Acts, such as health and safety and anti-discrimination policies procedures—methods or activities used to make sure employees follow the policies, eg a client...
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