Effective Negotiation - What Impacts on the Outcome of a Deal - Assignment Example

The paper "Effective Negotiation - What Impacts on the Outcome of a Deal" is an engrossing example of an assignment on business. This is important most especially for large corporations which often have constant changes in the executive board who are the individuals responsible for making decisions on external expenditure (O'Mahoney & Markham, 2013). Procurement professionals help to keep company suppliers abreast of changes in the organizational environment. This is especially important as it may have an effect on their future work. This promotes an open communicative environment such as potential and working suppliers may be in a position to notify the company in instances when they have been directly approached for services. Therefore, the more forewarned the internal and external market environment is, the more value is gained.

Tap into and respond to urgent business needs

Procurement is essential in the management of expenditure on consultancy as it provides an avenue through which corporations stipulate spending guidelines, consider the use of standard engagement terms as well as qualified suppliers. All these are necessary for providing the required business needs (O'Mahoney & Markham, 2013).

The shaping of Work Scope

Procurement professionals help internal stakeholders address the need for achieving an expected and successful outcome. Oftentimes, internal stakeholders have urgent needs that may blindside their vision for acquiring quality services from external consultancy services.

Procurement and supply help stakeholders get answers on how they can gain successful outcomes. Professionals, therefore, help most especially to highlight key learning points from previous projects that may be utilized for effective sourcing of external consultancy services (O'Mahoney & Markham, 2013).

Ensuring a functional and operational feedback loop

Procurement professionals help not only in ensuring completion of sourcing for consultancy services contract but are also responsible for managing any discrepancies that may arise with changing scopes, project dates, and unforeseen costs. This helps in preventing future failure costs.