Group assignment communication and negotiation in business neu

Read the paper named “Preparing your hospitality executives and staff for effective corporate communication: Preparedness versus Damage control”: a What is the importance of social media

NATIONAL ECONOMICS UNIVERSITY FACULTY OF TOURISM AND HOSPITALITY -

COMMUNICATION AND NEGOTIATION IN BUSINESS

Table of Contents

A Assignment solution

1 Read the paper named “Preparing your hospitality executives and staff for effective corporate communication: Preparedness versus Damage control”:

a) What is the importance of social media to hospitality’s businesses?

b) What do businesses in hospitality industry should do to be well- prepared to face with challenges from social media?

2 Read the Former Deputy Prime Minister Vu Khoan’s interview transcript named “Co cua dam phan” (in Vietnamese) then answer the following

3 Case (Find and analyse a real-life case of business negotiation):

a) The context of the case

 Brief description into the negotiation

 Parties involved in the negotiation

 General situation

b) The process of getting the result

 Brief process of the negotiation

 Identify the position / interest of each party

 Further analysis

 Hypothesis

c) The experience you have learnt from the case

 Three essential actions pursued by both players to create value

 Conclusion

B Members’ Contributions

A Assignment solution

Part 1: Read the paper named “Preparing your hospitality executives & staff for effective corporate communication: Preparedness versus Damage control”:

a What is the importance of social media to hospitality’s businesses?

In the present age, social media has become an important advertising source for businesses in recent years, and the hospitality industry is no exception to this.

With the evolution of affordable mobile phones, development in computeroperation, and easy access to the internet, social media has become easilyaccessible to everyone The emergence of social media has eventually proven thedirect link between the business and its end consumer Social media hasfundamentally altered the face of branding, advertising, and marketing In this dayand age, no business can avoid the influence of social media In particular, reputedand recognized hotels have been very active on social media in recent times Thesehotels and businesses very easily stay in touch with their customers Social mediahelps to reach a target audience and it plays a crucial role in interacting with youraudience It have changed the dimensions of booking, communications, andpayment methods Nowadays, social media platforms such as Facebook,Instagram, and Twitter are extremely effective at reaching out to audiences.Consumers surf through social media for mini restaurants as well To be morespecific, in the following sections, I will demonstrate the significance of socialmedia to hospitality's businesses

First and foremost, social media helps boost the branding of a hotel Your hotel

will be a brand name only when people are praising your quality services andspreading, sharing information When people recommend your hotel to theirrelatives and friends, your name will gradually become a brand Hotels can invest

in a mobile app and build a lasting relationship with their customers Social mediaprovides the perfect platform for hotels to boost their brand to their customers.Brand promotion is also made easier with the use of social media platforms such asFacebook, Twitter, and Instagram Specifically, a hotel can easily run its ownFacebook, Instagram, or Twitter account Advertisement can be placed there forfree and tagged to previous or prospective customers, as well as the consumer'sfriends, without the need for laborious efforts Moreover, advertisements on social

media are more beneficial than those in print or electronic media because they arepermanent It does not have a time limit like print or electronic media Besides,hotels will get feedback if people have read or watched the advertisement on socialmedia Positive reviews can generate a lot of revenue because before visiting anynew hotel, people look up its rating based on the reviews given by its regular orinfrequent visitors Hotels can use positive reviews in the form of tweets, photos,and videos to generate their own publicity It is the positive reviews that contributegreatly in the development of a successful hotel brand.

Furthermore, social media plays a critical role in broadening the potential to reach customers Hotels can encourage people to like their page by providing

rewards in the form of discounts and running their own promotions You can targetspecific people for your online marketing campaigns using media marketing Youcan target people based on their interests, age, geographic location, and otherfactors In addition, expanding the potential to reach customers will be made easierwhen hotels are quick to reply to the queries of consumers on social sites and sharewith them about hotel events A simple like or comment can help to strengthen therelationship between hotels and their customers

Last but not least, social media is very effective in influencing opinions of people A variety of people believe recommendations made by random visitors on

social media platforms A number of people make bookings or cancel hotelreservations as a result of social media influence Social media is more effectivethan word of mouth or any other form of advertising

b What do businesses in hospitality industry should do to be well- prepared to face with challenges from social media?

Admittedly, humans gain lots of benefits from social media; however, there are drawbacks that usually occur If used correctly and properly cared for, it can

provide enormous benefits; however, if it fails to do so, it can damage or spoil theimage in a short period of time It is not feasible to count the benefits of socialmedia for a hotel Trained personnel who can handle the account are also needed

As a result, methods for dealing with the challenges posed by social media arerequired

In the Forbes article of October 2012, Jeanne Meister highlights 5 corporate social media educational steps:

Step 1: Incorporate social media awareness, personal and professional branding,and the concept of the voice of the firm during your employees’ orientationprogram

Step 2: Create a training program – branded specifically for you and incorporatingthe nuances and buzz words important to you, your customers, and employees

Step 3: Be specific about what you expect of your employees and their socialmedia communication for the firm

Step 4: Engage and reward employees for the participation and contributions;engage those in particular who are active in social media as well as those who areindustry and niche experts – so that proper information is communicated

Step 5: Continuously improve your program, goals, and social engagementstrategies with your team

Businesses in the hotel industry should do the following to prepare well for the challenges of social media:

 Employees should be properly trained on how to use social media

 Hotels should provide constructive feedback in response to negative reviews

 Customers' perceptions of deficiency should be addressed as soon as possible

 To keep customers interested, hotels should post new and interesting content on

a regular basis

 Exciting deals should be promoted via social media Information from thecompetitors should be hidden as much as possible To deal with securityconcerns, hotels must not display their personal and sensitive information

Part 2: Read the Former Deputy Prime Minister Vu Khoan’s interview transcript named

“Co cua dam phan” (in Vietnamese) then answer the following questions:

a What negotiation techniques did Mr Vu Khoan apply to his negotiation cases? What were the results?

Mr Vu Khoan shared that "diplomatic activities such as tree trunks, researchwork is the root, other professional activities such as branches, and negotiationand signing are like tree trunks " The negotiating techniques he shared are quitepractical, associated with the signing activities that our state has participated in

 The first stage is preparation

This is one of the key stages to the success of the negotiations Approach themotto " know yourself, know people, know the times " and can " know therules of the game "

 Clarify three things: what do I want, what do I have and what can I give in

For example, we have made full use of the difficulties within the UnitedStates and the depravity of Saigon as well as their deep conflict with eachother to gain our advantage in the Paris negotiations

 Negotiating partner study

Using the motto ‘my belly to the human belly’

To " know people " you need to study, learn, and consider many aspects Mr

Vu Khoan has launched negotiations with the United States in Paris After

extensive research, closely monitor the effects of the Vietnam War on

different aspects What America needs is to withdraw from the Vietnam War What America has is military power but has suffered a lot on the battlefield and what America may have been is the government of the henchmen in Saigon

In particular, we need to be familiar with the person we directly negotiatewith If you have not met or are not familiar, you should ask people whoknow them; Otherwise, you should catch it from the first contact to behave

Know your partner From there, we can build an effective negotiation campaign for us.

 Determine the negotiating context

There are two contexts we need to understand: the external context and theinternal context

External context: like a large chessboard, on which negotiations take place Interms of national negotiations, political and diplomatic factors, especially thenature of bilateral relations with the negotiating subjects, have an importantinfluence on the outcome of negotiations

Internal context: socio-economic- political, cultural and human situation

Creating an important condition in the negotiations, the time is favourable, the negotiation has a chance to succeed.

 Develop a negotiating plan (calculate different options for discussion)

When proposing negotiating options, different levels of discussion should beanticipated within the framework of " floor " (minimum) and " ceiling "(maximum)

That is, using ZOPA in negotiations Accurately identifying ZOPA will

benefit both parties more than alternatives This gives the negotiator moreflexibility in the negotiation process to achieve the desired result Example:Apply ZOPA technique to WTO accession negotiations

We negotiated a reasonable deal and became a member of the WTO.

 During the negotiations, Mr Vu Khoan shared some tricks:

 Exchange of draft documents

Proactively draft the agreement document and give it to the partner inadvance The draft covers the highest options on his part In case the partnerdoes the same, compare the two copies together, eliminate the same basicpoints, filter out the differences to negotiate

Create more advantages in negotiations, bringing the highest efficiency.

 Adjustment of requirements - to the scope of ZOPA consensus

Mr Nguyen Co Thach has proposed a trick that is to offer a very high plan onthe basis that the two sides will continue to negotiate

For example, in 1989-1990, an international conference was scheduled todiscuss the issue of "boat people" The countries concerned, mainly China, the

UK, and ASEAN countries, demand that we take everything back, including

by coercive means; And before that, I only accepted the repatriation ofindividual cases Later, I took the initiative to move up a bit to acceptvoluntary repatriation

Finally, the orderly repatriation agreement

To relieve this bitter issue - one of two conditions for them to lift the embargo on themselves (the first is that we withdraw our troops from Cambodia and form a Government of National Reconciliation there).

 Use the Good guy/ Bad Guy technique

Depending on the extent of that negotiation, we are willing to switch betweenhard and soft As Mr Vu Khoan said when " erection ", when " needs" but

"erections" also do not let negotiations break down, "needs" must not showweakness for people to humiliate and deflect the demands for negotiation

Show flexibility in negotiation, creating a certain position.

 Using the H.I.T technique

"Take and give" means that when you trade, you need to try to keep what is

needed, for the least harm

For example, in 2010, at the end of negotiations on the BTA, Vu Khoanpressured the U.S to remove the textile quota, but under the law only when aWTO member is entitled to that status should temporarily lower the importtax rate of textiles from over 40% to about 4% first and win the BTAagreement to enter the broad market of the country America; In exchange, weaccept the opening of the Vietnamese market at a fairly limited level

 The U.S accepted to remove the textile quota but with the monitoring mechanism

Vu Khoan took on the responsibility of agreeing because he had dropped the quota and joined the WTO, thereby enjoying the US PNTR regime, further expanding our market.

b Do you think you can apply these techniques into your real-life situation of negotiation? Why/or Why not?

These techniques are used frequently in our lives, sometimes even withoutrealizing that we are applying it to our lives

 ZOPA

For example, in order for Phuong to sell his motorcycle to Uyen for aminimum of VND30 million, Uyen must be willing to pay at least VND30million If Uyen is willing to jointly grant VND 31 million for the car, then

ZOPA here is 1 million Any deal within this 1 million-million-person rangesatisfies buyers and sellers If Uyen can only buy the car for VND 29 million,then there is no encounter and there can be no ZOPA.

 BATNA

For example, Russia went to a flower shop to buy roses for Linh But whenthey arrived at the store, the staff announced that the roses had sold out, andRussia had turned to sunflowers

 H.I.T

For example, if Quynh wants to go to the supermarket to buy fruit, here's herH.I.T

o H - Must have: fruits

o I - Intended: Some have a lot of water such as grapefruit, orange,watermelon

o T - Tradable: Price, freshness and quality of fruits, distance from home tosupermarket

 Good guy/ Bad guy

For example, Jenny, a well-known KOI online, is looking at a phone at areputable phone store After researching and listening to the advice of thestaff, Linh decided to buy it But she has a condition of a 20% discount, andshe will introduce the store to social media As a salesman, he couldn't makehis own decisions He contacted management for comment on the deal

Later, the manager went to See Jenny that the deal was not accepted.Whether Jenny’s offer is a good idea or a bad idea, the store must have athorough review process, mutually beneficial

 Partner research

For example, you are the head of the Music Club and Phuong is a very goodsinger, you want to invite Phuong to join his club Then you will have toknow the " gain " and " loss " of Phuong when joining your club

Part 3: Case (Find and analyse a real-life case of business negotiation)

1 Brief description into the negotiation

A shopping center management firm with operations in eight countries (one of which

is Spain) and an international retailer appointed a new brand of health care productsaimed at a younger population involved in the lawsuit

The narrative began in 2008, when Skin&Co Roma agreed to a 5-year contract withCentro Comercial La Vaguada The store had requested a location on the first floor ofthe shopping center, and thus the negotiations had gone on for a long time Due to thefact that all spaces on the first floor were taken by other businesses at the time, such arequest could not be granted

Nonetheless, Skin&Co Roma recognized the importance of having a presence inimportant areas of the Spanish La Vaguada for their plan, and accepted a 2000 squaremeter location on the third floor Business continued as usual until 2009, whenSkin&Co Roma's sales began to decline marginally From 2009 to the beginning of

2013, Skin&Co Roma continuously negotiated with La Vaguada Centre with the

purpose of coming to an agreement to reduce the fixed rent At the end of 2012, as

National Account Manager of Skin&Co Roma, Mr Thomas Stevenson, he tried to negotiate the fixed rent, as well as review other key issues with John Stuart, property manager for La Vaguada

2. Parties involved in the negotiation

a Skin&Co Roma

Skin&Co Roma is a leading brand for cosmetics and health-care products (body andface) designed to serve low-to medium income buyers It belongs to the groupSkin&Co, an Italian-based company which in 2008 started spreading their brand allover Europe Their vision is to start being recognized all over Europe in order tocompete against giant cosmetic brands like Pantene, Olay, The Body Shop, Nivea,Lancôme and Avon among others Since 2008, their overall revenue has grown around70%, having approximately 450 stores all over Europe’s biggest cities (Berg J &

Milgrom F., 2012, p.2) The company usually rents big spaces in each shoppingcentre, of approximately 2000 square foot.

b Centro Comercial La Vaguada

In turn, La Vaguada is one of a vast network of shopping malls belonging to thecompany Unibail-Rodamco-Westfield This Spanish-based company, is one of thelargest management companies of shopping centres in the world, present in more than

30 countries, owning around 200 shopping centres around the globe It is known forits excellent performance in terms of its retailer’s sales and flow of visitors, as theircentres are usually located near stadiums and also near several offices, characteristicswhich automatically guarantee constant foot traffic It has a very attractive location,

on one of the most crowded streets of Madrid Spain is clearly a country where we canobserve the first signs of recovery in terms of consumption, but Barcelona and Madridare obviously more responsible for that upturn Therefore, Skin&Co Roma’sinternationalization strategy has to be pursued through a constant presence in thebiggest cities of Europe and more precisely in critical shopping malls such as LaVaguada, capable of generating high levels of foot traffic

 Centro Comercial La Vaguada

In terms of performance, before the effects of the economic crisis started, La Vaguadahad a very high occupation rate driven by a constant demand for space, which madepractically every shopping mall extremely profitable By contrast, in 2010 and 2011,occupation rates dropped below 85% as certain stores declared bankruptcy or inability

to continue paying the agreed fixed rent

 Spain’s economic situation