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Importance of Business Deal

Business deals are basically agreements between the various parties that indulge in commercial activities with each other. The business deals contain the various details of the transactions between the parties that are executing the business. There are several types of business deals – the most common type of business deal is the merger and acquisition. As per this type, one company buys a certain portion of or the total company itself.

One of the most important parts of the business deal in case of mergers and acquisitions is determining the share of buyer in the company where he is investing. In case of mergers, two or more companies combine their operations in order to fulfill certain purpose – be it getting a bigger share of the market or increasing the client base. In case of the acquisitions, the buyer gets the total or certain share of the company. In case of the acquisitions, a crucial part of the business deal is determining the percentage of ownership.

In case the business deal is taking place between companies from two different countries, the factor of foreign direct investment also comes into play. In this case the business deals take on a different dimension. They have to be formulated in a way so that the laws of investment and other relevant issues are well looked after. These deals also need to be mindful of the operative tax structure and figure out ways in which the whole exercise could be tax effective. As far as the small businesses are concerned, negotiations form an important part of their business deals.

Be a Devil’s Advocate in Your Negotiations

The Roman Catholic Church used the Devil’s Advocate to investigate candidates for sainthood to see if there was anything negative concerning their candidacy. The idea behind the Devil’s Advocate is that if it is someone’s job to do an investigation, any detrimental information will come up as a result of this scrutiny. However, in the 1980’s Pope John Paul II did away with the Devil’s Advocate system, probably as outdated.

Mediators use the Devil’s Advocate as a device to give a reality check to one of the parties and point out the flaws in their arguments. The expression used is usually, “Let me play the Devil’s Advocate.” By saying you are going to play the Devil’s Advocate the Mediator is not his own advocate and, therefore, isolated from criticism.

It is a convention so it does not appear that the Mediator is actually making the comments on his own behalf. By taking the outsider’s role, the Mediator can point out the flaws in the other side’s case. It is a great device because the other side cannot take offense. It is not the Mediator talking; it is the Devil.

Obama’s Cabinet is a Group of Rivals. Will this allow them to be Devil’s Advocates? Allowing others to dissent and show that there are negatives to any proposed action is a good thing. It looks as thoughObama is going to allow his staff and cabinet members to question his decisions if they disagree. Maybe the Devil’s Advocate is not so outdated after all.

Rule 29: How To Negotiate Like A Pro

Mary Greenwood, Attorney Mediator, and Author of How to Negotiate like a Pro, 41 Rules for Resolving Disputes

Does Your Influence Get Through?

How much of business is about convincing another party to get things done your way? Well, if you really think about it, a large part of business is convincing and getting your message through. And one cannot disregard the importance of influence over others.

At first thought, this might sound like a vague deal. Influence over others? What exactly does that mean? Is that like forcing people to do things they do not want to do? Not at all! Being influential is not all about making people do the things they do not want to do, but conveying your messages and believes in such a way that the other party comes to your side too. At the end of the day, you want to influence others around you in a positive way so as to bring along positive impact to the business.

It goes without saying that if you are a leader at an organization, you do need a certain degree of influence over others. And this influence is something that your position might or might not get for you, but something you most definitely have to acquire for yourself.

As a leader, you will have to work with a number of other people: colleagues, partners and others who are not really your subordinates. At such a level, your position as a superior is not going to do the trick for you and that is when the power of your influence really matters. Can you get those who are not in your line of command to do things for you? Because that is where the sphere your influence really matters.

It might be easier to influence decisions and actions at a lower level but as the importance of the decision increases, it gets harder to convince others of what you want. At some instances, it might be as simple as asking someone to do something, whereas at other times you would really have to convince them to look at things as you do.

But influence is not all about getting things done your way. Collaboration is a huge part of influence and essential for a thriving work environment. Especially when high performers are part of your team, they would expect to be involved in the decision making process. When others are just as involved in the decision making process as you are, is when influence and collaboration, both, play a big role.

When collaboration and influence come together you are acknowledging the fact that you are all working as a team, and when a team works mutually, it is impossible to credit decisions and concepts to one person. This is about engaging the others in your team and getting the best ideas out in the open so that whatever is best for the organization can get done. For one thing, if you are pedantic about being in charge of all decisions that are made at your organization, then collaboration will not work for you. But do keep in mind that influence does not work all the time; it is a game of give and take.

As a leader of a team and an organization, you should think about if you can differentiate between when you need to use your influence and when collaboration is the best course of action. At the same time, as a leader you need to ensure that your actions and decisions are bringing people together and fostering a positive work environment and not vice versa.

Having influence over others is a very important quality for a leader but more important is being able to distinguish when your influence should be used and when collaboration is the best way.

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