Negotiation Challenges in Business

The video covers a negotiation session between Novelties Ltd and Sara's handicraft business over a dispute regarding the quality of goods supplied. Both parties discuss the issues, propose solutions, and aim to maintain their business relationship. They negotiate on the payment for used and unused goods, future business terms, and potential compensation. The session concludes with a summary of agreements and a commitment to further discussions.

What is the main issue that Sara's handicraft business is facing with Novelties Ltd?

• Lack of variety in goods

• Overpricing of goods

• Substandard quality of goods

• Delayed delivery of goods

How long have Novelties Ltd and Sara's business been in a trade relationship?

• 3 years

• 5 years

• 7 years

• 10 years

What is the main goal of the negotiation session between Novelties Ltd and Sara's business?

• To find a middle ground and resolve the dispute

• To find a new supplier

• To increase the price of goods

• To terminate the contract

What is one of the proposed solutions for the unused goods worth Rs 30,000?

• Dispose of them

• Refurbish and return them

• Sell them at a discount

• Use them for another project

What is the main reason Sara's business is hesitant to pay the full amount for the used goods?

• The goods were not needed anymore

• The goods were of substandard quality

• The goods were overpriced

• The goods were delivered late

What is the proposed solution for the Rs 15,000 worth of used goods?

• Exchange the goods for new ones

• Return the goods for a refund

• Pay in installments starting next year

• Pay the full amount immediately

What assurance does Sara's business seek to prevent future issues?

• A verbal promise

• A written guarantee

• A financial bond

• A third-party audit

What is one of the conditions for not expecting further monetary compensation?

• Getting a new supplier

• Increasing product prices

• Reducing the current debt

• Receiving a bulk order

What is the proposed discount rate for future purchases if the bulk order condition is met?

• 15%

• 5%

• 8%

• 10%

What is the proposed financial compensation if the bulk order is not secured?

• Rs 25,000

• Rs 20,000

• Rs 10,000

• Rs 15,000