Triad Problematic of Youth Entrepreneurship - Research Proposal Example

Triad Problematic of Youth Entrepreneurship Business is all about convincing the buyer or the seller of a commodity to make a deal at your price. When were are doing business we are not only interested in the business itself but also the profit. The study of negotiation in business has proved worth to me. I have learned that it is through negotiation that both the buyer and the seller can come to an agreement that satisfy both of them[Gal13]. I have come to identify that the more a person convinces the other party in the business, the more satisfied in terms of profit and other businesses’ gifts (Page, & Mukherjee, 2009, p. 32). In this case, I want the best car at a lower price, and the car dealer sales man want to have the best deal that will saw him qualify for a special bonus. However, when the dealer fails to make a gain out of the enterprise, he will face the boss with questions to answer. I am considering to replace my used car with another one with a budget I can afford. My net worth in cash does not exceed £5,000. I will need to finance the rest of the budget via the sale of my old car. The car I currently own has a high mileage and can only be sold at the lowest minimum price of 7,266. I decided to vend my automobile to the broker from whom I will get the new car. Even with the finance that I may get from the sale of my motor vehicle, I will not be able to get to the price if the new car that is being sold for 17,293 as the lowest price. The sales representative is allowed to make a sale at this price or higher than that. He is looking to make a deal before closing the business for the weekend. The deal is to be completed on the third day of the following week. Since I cannot afford the car with my total budget from the cash I have and the cash I get from the sale of the car, I need to get extra funds. My total funds that I can afford just exceeds 12,000. In this case, I may request for a loan worth 5,000 in order to complete my purchases. In my course of negotiation, I came to realize that I will be able to get a loan from the car dealers. There are some rates that are offered, and the sales person have to meet. The rules that guide the sales representative are vital in business operations (Jones, Chin, & Aiken, 2014, p. 91). The boss will need to see if the sales man utilizes the skills that he had gotten from the college level in carrying out the business. The skills also entail making a higher bid for the loans. I came to realizes that the higher loan the sales man makes with the client, the higher the special bonus. In this case, if I were to accept the loan from the ace’s car that is 4.75 over the base of charges on interest, the salesman would have got a special bonus of 150. A lesser amount than that would find him get a lower bonus. Therefore, the sales man had to utilize his skills to persuade me in taking the loan. Another thing that I have noticed concerning business and transaction is the importance of time (Beenen, & Barbuto, 2014, p. 73). Time is a resource that is beneficial to business. The resource, when used adequately, can equally benefit the boss and the staff (Conklin, & Hartman, 2014, p. 65). Indeed, a period in business is used to determine whether the investment is making profits or losses. Most of the firms usually submit their financial report after a given period. When a sales person makes a deal within a short time, he or she is promised a gift by the firm’s boss. In this case, it is the eve of the week. The boss had promised that any extra sale of the car will result in a gift that entails the Seller being given a holiday for two in a resort. The salesman would, therefore, work persistently to qualify for this enticement. In regard to time, I came to realize the attitude of the sales person in regard to the awaited incentive. Given that this is the only opportunity to hit the first quarter in the sales, he was ready to make a deal with me and complete it on Wednesday of the coming week. The desire of the salesman will be to convince any buyer to make a deal before the firm closes for the weekend. Therefore, the salesperson was in a position to offer the remaining amount of money in terms of the loan in order to ignite the deal. The aspect of effectiveness is created in the course of sales (Sindambiwe, & Mbabazi, 2014, p. 67). The efficiency usually eliminates barriers that would result in time wasting. In this case, the firm can offer a loan to the customer who want to buy a car. The client does not need to go to the bank to request for a credit. The time he or she could have used to go to the bank is saved, and other activities can be tackled (Wilton, 2012, p. 52). In this way, the firm can make a lot of customers as they can get the car they want and make payment later as planned. An aspect of employees’ inspiration is also taken into deliberation. The sales man was able to work hard in the last 30 minutes as there was a promise at the end of the duty. The boss knows that the even the last 30 minutes of the day are important for the firm. He gives the employees a daily target and promises to give an incentive for the weekend. Considering that this is the last day of the week, the employee was ready to negotiate a deal some minutes to the end of the day. I came to note that employees need to be motivated every time in order to get the best out of them. The study also influenced the way I viewed the employees as people who are only interested in the boss’ pay (Cullen, Muros, Rasch, & Sackett, 2013, p. 142). They are special in delivering services even at the eve of a weekend. Looking at the relationship between the employee and the employer, I have learned about the importance of answerability. The employees of a firm are always answerable to their bosses (Hockings, Schmidt, & Cheung, 2013, p. 167). The sales representative had to follow certain rules before transacting the business. There are two important measures that he was supposed to make a wise judgment on before making the transaction. One of the situation concerns the price at which he is supposed to sell the car. The minimum price that is endorsed by the boss is £17293. The sales person is not supposed to sell the car for a fee close to the minimum worth. He is supposed to employ the negotiation skills so that he can sell at a better price. It is the principle if the boss to sell the stock at a price that will make a good profit. Secondly, he had to make sure that the loan he gave on the sales that should not go below 2.75 of the quoted price. Giving at a lower cost than that will mean that the firm does not make any profit. Negotiation in trade is very interesting to both the parties. The art of business that involves bargaining makes sure that all parties are satisfied with the end results. I had an opportunity to negotiate until I got an appropriate price. I got the loan that I added to my cash and the sale of the automobile. In 30 minutes, I had my car and could enjoy my ride 350 miles to my brother’s home. References Gal13: , (Gallagher, 2013, p. 27), Jones, B, Chin, A, & Aiken, P 2014, 'Risky business: Students and smartphones', Tech Trends: Linking Research & Practice To Improve Learning, 58, 6, pp. 73-83, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Conklin, T, & Hartman, N 2014, 'Appreciative Inquiry and Autonomy-Supportive Classes in Business Education: A Semi Longitudinal Study of AI in the Classroom', Journal Of Experiential Education, 37, 3, pp. 285-309, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Sindambiwe, P, & Mbabazi, D 2014, 'Triad problematic of youth entrepreneurship: Voices from University Students', International Journal Of Multidisciplinary Approach & Studies, 1, 6, pp. 462-476, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Wilton, N 2012, 'The impact of work placements on skills development and career outcomes for business and management graduates', Studies In Higher Education, 37, 5, pp. 603-620, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Cullen, M, Muros, J, Rasch, R, & Sackett, P 2013, 'Individual Differences in the Effectiveness of Error Management Training for Developing Negotiation Skills', International Journal Of Selection & Assessment, 21, 1, pp. 1-21, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Hockings, R, Schmidt, D, & Cheung, C 2013, 'Single-Leg Squats Identify Independent Stair Negotiation Ability in Older Adults Referred for a Physiotherapy Mobility Assessment at a Rural Hospital', Journal Of The American Geriatrics Society, 61, 7, pp. 1146-1151, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Page, D, & Mukherjee, A 2009, 'EFFECTIVE TECHNIQUE FOR CONSISTENT EVALUATION OF NEGOTIATION SKILLS', Education, 129, 3, pp. 521-533, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Beenen, G, & Barbuto, J 2014, 'Let's Make a Deal: A Dynamic Exercise for Practicing Negotiation Skills', Journal Of Education For Business, 89, 3, pp. 149-155, Academic Search Premier, EBSCOhost, viewed 13 February 2015. Read More