IT in Negotiation and Mediation
IT in Negotiation and Mediation
Information Technology is a highly instrumental tool in facilitating various processes and operations carried out by business organizations for innumerable purposes. However, the most important role of IT in business dealings is its capacity to facilitate communication between groups or individuals who are involved with business trades and transactions. For instance, conducting negotiations between two or more parties and mediating parties during business dealings or transactions may be facilitated through the use of IT. Intended for the review and consideration of business individuals and organizations, the remainder of the text will look into the integration of IT processes and systems to business operations and processes that constitute negotiations and mediations. In addition, the forms and types of technologies that are applicable for the aforementioned processes will also be discussed.
Negotiation and mediation are two important business processes that are employed or carried out in order to settle problems and issues between two or more parties that are unable to overlook their differences and arrive at a compromise or agreement that is amenable to all parties involved. Negotiation is a kind of bargaining or haggling process wherein all the parties concerned are involved with the process
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The processes of negotiation and mediation may be facilitated through the use of IT equipped with services that assist in communication processes – the key to successfully negotiation and mediation. Aside from the obvious role of communication in negotiation and mediation, IT as well as Internet technologies might become useful in reintroducing mediation to the business sphere. Information technology and systems are equipped with various softwares and programs with the purpose and objective of facilitating clear and timely communication processes.
For IT opportunities in negotiation purposes, facts or data obtained from IT systems may be utilized to analyze the key players involved in the negotiation. The information will help organizations in determining the strengths and weaknesses of other parties and identify how to go about presenting claims, requests, or demands to them to one’s advantage. Other IT tools available for business organizations include IT programs and softwares that are beneficial in establishing reports and other forms of statements of details, such as content of the meeting, break down of the meeting or negotiation process, the contract, etc., that might help in speeding up the negotiation process and risk analysis tools that are able to predict the results of outcomes of the negotiation process. (Latz, 2006)
On the other hand, IT tools that are available for the process of mediation include online trading applications that allow mediators or intermediaries to conduct transactions. Sponsoring online auctions or bids is one way of mediating or acting as the intermediary between the business organization and its online clients. (Kumar & Feldman, 1998) Other technological opportunities for facilitating the process of mediation are instrumental in promoting mediation as an important tool in business. These opportunities include the establishment and implementation of IT and Internet tools that are most beneficial to business organizations, increasing their focus and attention on mediation as a business process or operation. Mediation services available in IT systems and online constitute various roles and functions including the supervision of financial status or positions, the settlement of disputes between business parties and other parties, the improvement of the IT system, and such. (Baker, 2005) These kinds of effect helps in establishing trust among business organizations and their constituents as incorporating technology and online tools and services to the mediation process makes it efficient and timely, ensuring the resolution of conflicts, issues, or problems fairly and equally between the various parties involved. (“Transformation Through Technology,” 2008)
Although IT and Internet tools and services are extremely important in facilitating the negotiation and mediation processes, business organizations need to look into some of the considerations that it might make prior to implementing IT systems and online tools and services so as to avoid failures and difficulties. The IT systems and Internet tools and services may be the primary sources of strength for the organization. Moreover, it might become the organization’s strength since it helps in obtaining competitive advantage. However, it might become a weakness if the organization is not prepared to take on the various responsibilities and required resources involved in implementing IT systems and online tools or services. (Latz, 2006)
In order to resolve the issues of weaknesses and threats, upon the implementation of SWOT analyses, organizations should make sure that it formulates a thorough plan in which the required resources and other needs such as employee training, etc., are included. In addition, it is also important to conduct risk analyses in order to determine threats including the physical and virtual security of information or data, and such. Being wary of these considerations will result to the effortless implementation of IT and Internet tools and services to negotiation and mediation processes which will assist the organization in handling conflicts or difficulties in various situations.
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