WHAT ARE BIDS AND TENDERS Bids and Tenders are often used interchangeably for they mean the same thing. A tender or a bid is usually written or submitted in response to an earlier request put out by the buying organization looking for a supplier to provide certain goods or services. Typically, a buying organization will …
4 important benefits of winning bids and tenders Read More »
Internal suppliers are suppliers that are part of the same company as its customer. These suppliers provide the products or services that co-workers within the organization need in order to do their job. The internal suppliers are an “in house” suppliers. The choice to use an internal supplier is based on a corporate decision regarding …
Product liability fall under torts. The tort of product liability can be defined as a manufacturer’s or seller’s liability for any damages or injuries suffered by a buyer, user, or bystander as a result of a defective product. Products and services are becoming sophisticated, for instance, what used to pass for a mobile phone 10 …
PRODUCT LIABILITY here is how you sue or get sued Read More »
Express terms of a contract refer to the kind of terms that are specifically stated in the contract either orally or in writing and set out the definitive agreement between the parties. Terms of a contract will show the duties and obligations of the parties in the contract. This could mean a party has to …
Stages of negotiation present you with an opportunity to put your listening and questioning skills to test. These stages call for careful exchange of information and interpretation of signals from the other party, this way you increase your chances of getting a good deal. The stages of negotiation can be summed up as, preparation, opening, …
Your business won’t make much of an economic sense if you are not making profit. If you can find simple ways to improve your pricing strategy, you can increase profits. Price is often considered to be the sum of money which must be expended to fulfil a wish or need to acquire a product or …
The factors to consider in hire or lease contracts can vary depending on whatever it is that you intend to hire or lease and whether or not you are better of just purchasing the thing itself. A hire or lease contract is the kind of contract that gives you possession over something and the ability …
7 IMPORTANT FACTORS TO CONSIDER IN HIRE OR LEASE CONTRACTS Read More »
One off contracts in purchases is not an uncommon set up, when talking about the various types of contractual agreements between suppliers and buyers. The key element of a one off contract is that it relates to a single purchase. Remember that this is not the same as a single item purchase. Think of this …
PRACTICAL ASPECTS OF ONE OFF CONTRACTS YOU SHOULD KNOW Read More »
Bargaining power of a buyer plays a major role when negotiating with suppliers. Leverage is key in negotiation and as a buyer your bargaining position gives you this. Bargaining power is the ability of a party in a negation to influence or direct the behaviour of the other party A QUICK THING ABOUT BARGAINING POWER …
Win lose negotiation also known as distributive negotiation is mainly characterized by its adversarial nature. What is a win lose negotiation? This is the type of negotiation in which one party intends to win and expect the other party to lose. The negotiation is zero-sum. Negotiating parties generally walk in negotiation with two generic outcomes …
Practical Advantages and Disadvantages of Win Lose Negotiations Read More »
