Answered: There are certain subjects that Mr.…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

There are certain subjects that Mr. Peter must consider when negotiating with his supplier. Explain any four subjects Mr. Peter must discuss with his supplier. Note, you are required to There are certain subjects that Mr. Peter must consider when negotiating with his supplier. Explain any four subjects Mr. Peter must discuss with his supplier. Note, you are required to paraphrase the relevant theory before you apply it to the scenario. paraphrase the relevant theory before you apply it to the scenario.

Expert Solution

Step 1

The four must Subject Mr. Peter must discuss with his supplier are explained below in various situations and methods :-

A: The negotiations can take place by negotiating costs because, during the pandemic period, most of the raw material suppliers are failing to provide their supplies to their customers or buyers, so the remaining suppliers that can deliver the raw material supplies may demand more prices in return for collection the raw material for Mr. Peter, so he has to negotiate with the new suppliers to minimize the cost of deliveries at the expense of the past supplier.