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Dreams FC coach Karim Zito commends his players for delivering G-8 trophy

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Dreams FC coach Abdul Karim Zito has eulogized the performance of his players in their 2-1 victory over Hearts of Oak in the GHALCA G-8 final at the Cape Coast Sports Stadium on Sunday.

The Dawu-based outfit had to come back from a down to inflict a 2-1 defeat on the Phobians.

Hearts drew the first blood through midfielder Daniel Kodie’s thunderbolt strike in the 11th minute.

However, Kweku Adjei Darko and captain Leonard Owusu scored in either half to hand Dreams their first major trophy.

During his post-match interview, Zito expressed his delight over his team’s efforts and offered his thanks to their management for seeing them through to final.

“We thank God we did well and my boys did very, very well. We managed to get out of the Group of Death which had two of Ghana’s champions.”

“Our secret was hardwork and Grace from God and that was what helped us. I

would like to thank everyone who supported us from the beginning.”  

Dreams were in Group A of the tournament which had MTN FA Cup winners, Asante Kotoko, and Ghana Premier League winners, Aduana Stars and Eleven Wonders.

They lost 1-0 to Aduana Dreams in their opening game but but beat Asante Kotoko and Eleven Wonders by the same 1-0 score to book a place in the semi-finals.

They needed a 6-5 victory in a penalty shootout to get past Medeama after the match ended goalless in regulation time.

Dreams will start their Ghana Premier League campaign at home against Elmina Sharks. 

President Akufo-Addo to unveil Cashew Development Policy next month

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Nana Akufo-Addo

As part of a sustainable production road-map toward positioning cashew crop as an agriculture goldmine, government is expected to unveil a ‘Cashew Development Policy’ next month to outline measures that will promote the cash crop’s production, sale and processing in the country.

The Cashew Development Policy will indicate government’s commitment to extending financial, distribution, material and technical support toward the production, sale and processing of cashew nuts; and will raise the country’s competitiveness in the non-traditional export commodities market. This will help improve livelihoods of rural farmers nationwide.

Speaking at the second encounter with media at Flagstaff House in Accra, President Nana Addo Dankwa Akufo-Addo said: “There is a lot of money involved for producers, marketers, distributors, and also those who will be engaged in processing of the crop.

“I believe that I am due to go to Wenchi in the Brong Ahafo Region, on the 24th of February to launch the Cashew Development Plan we are proposing for the industry and the country.

That plan, when it is unveiled, will help issues of infrastructure; the nature of government support for the industry will all be put on the table.”

He added: “It is important that when you look our next door of us, Cote d’Ivoire, is making huge sums of money from this industry; and we are as capable as them of developing this industry. A full-scale development plan is in the offing, and very soon the plan will be outdoored for us in the country to see. We will see, fully, what is being proposed”.

Cashew is currently Ghana’s leading agricultural non-traditional export (NTE), generating about US$197million in 2016, and representing 53 percent of the US$371million earnings from the total agricultural NTE sub-sector.

According to available statistics, the country produces between 50,000 to 70, 0000mt of raw cashew nuts annually.

In spite of the unduly lower share of investment in the country’s cashew production sector from government, the sector still holds much potential as it is seen to be one of the most promising economic boosters – capable of generating between US$400 and US$500million revenue for the country and improving livelihoods of many rural women farmers.

Undoubtedly, cashew production and the entire value chain is seen as a viable and profitable business venture, with industry players describing it as an agricultural goldmine if well-harnessed.

With this development, the country can’t afford not to take advantage of the huge opportunity that exists within the cashew sector and its value chain.

The sector currently has 12 processing factories within the country, with a processing capacity of 60,000 metric tonnes (mt), while the country produces approximately 70,000mt of raw cashew nuts (RCN).

This deficit – among other challenges, stakeholders say – calls for an effective dialogue between government and agencies responsible for implementing policies that will help promote the sector.
Cashew production in the country is mostly carried out by smallholder framers (90%).

The past nine years experienced a growing interest in cultivation of the nuts, due largely to high demand and flourishing export markets. Approximately 75,000 farmers in the country are engaged in cashew cultivation, with most farmers located in the Brong Ahafo, Northern, Ashanti and Volta Regions.

Institutionalising procurement will save us more than US$200m – expert

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Although government saved around US$200million through procurement in the last 12 months, the country could have doubled that figure by institutionalising procurement, says Simon Annan, Chairperson of Chartered Institute of Procurement and Supply (CIPS) Ghana.

According to him, if government can appoint the right people to man relevant procurement departments of state-owned agencies, it will save the country several millions in funds.

“We applaud government for putting in place measures that saved the country this sum of money; but this also shows the need to reposition procurement as a profession, because these savings were made as a result of qualified people being put at the right place,” he said.

“If the PPA alone can save the country this huge sum of money, it means that if we put people who are qualified at the various government agencies, then we are going to make a significant amount of savings which could help the country to progress.”

His comments follow President Nana Akufo-Addo’s announcement last Wednesday that his government, in its first year in office, has saved about US$200million by straightening out dubious procurement deals.

“In 2017, our first year in government, 394 sole sourcing requests were made – out of which 223 (56.6%) were approved, and 171 (43.6%) were rejected. There were 346 requests for restricted tenders and 167 (48%) were approved, with 179 (52%) were rejected. The savings made over the year, as a result, amounted to GH¢145.7million; US$146.2million; €1.85million and £22,400,” the President said during his encounter with the press.

The Public Procurement Authority (PPA) is headed by Agyenim Boateng Adjei, a procurement expert, while its board is chaired by Professor Douglas Boateng, a professor in supply chain management.

This, Mr. Annan believes, is the reason the country was able to save about US$200million as a result of having the right people at the right place.

To ensure that the country makes the most from the procurement sector, Mr. Annan advocated implementing the procurement law to the letter – adding that “the default method in the law is competitive bidding, and if we can do competitive bidding we could save over 30% of the procurement cost”.

Among other things, Mr. Anna -, who is also a Fellow of the Chartered Institute of Procurement and Supply, UK – called for licencing of the profession to ensure sanity, as well as appointing qualified procurement professionals onto boards of state-owned entities.

“Another thing that we have to do as a country is legislate the profession. The profession has no legislation. Now, we have the law which has been enacted; but the people who are going to implement the law are not licenced,” he added.

Going forward, he also urged the PPA to be more transparent with how it arrived at these savings, to improve public confidence in the work of the PPA and the procurement profession as a whole.

ARB Apex Bank first to roll out GH-Link EMV standard technology

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The ARB Apex Bank is the first local bank to issue a domestic card that employs Europay MasterCard Visa (EMV) standards with CHIP and PIN for transactions to facilitate payments on the Gh-Link platform, the Chief Executive Officer of GhIPSS  Achie Hesse has stated.

So far, 25 Automated Teller Machines have been installed across the country by 13 rural banks, and plans are advanced to roll out over 100 ATMs soon.

Apex Bank has deployed a system whereby the ATM Cards are issued to customers instantly. A customer who walks into any banking hall of a rural bank to request a card is expected to receive same within 10mins, and the customer is also given the privilege of selecting a PIN for the card during the process of registration and acquisition.

The platform is connected to the gh-link network, and holders of gh-link cards from other commercial banks can perform transactions on the ATMs; and similarly, RCBs’ card holders can perform transactions on ATMs of other commercial banks which accept e-Zwich cards (Flexi ATM).

The Chief Executive Officer of GhIPSS, Achie Hesse, told Business & Financial Times on the sidelines of the official launch of electronic products for rural banks ‘U Connect’ at Ada recently.

The process will be adopted by all commercial banks beginning this year, and is meant to move Ghana into a universally EMV compliant environment.

(GhIPSS) started the process to migrate all domestic cards from magnetic stripe to Chip & PIN in 2016. This became necessary because of the frequent fraudulent activities on ATMs which have increased. and the need and urgency for card security measures to be implemented so as to eliminate fraud at card-present transactions using the gh-link™ network.

The EMV payment technology is the proven solution against counterfeit card fraud, which is prevalent in a majority of these fraudulent transactions. Chip-based payment cards contain embedded microprocessors that provide strong transaction security features and other application capabilities not possible with traditional magnetic stripe cards.

ARB Apex Bank Limited is facilitating this project to enable Rural and Community Banks become competitive in the digital banking space. The first phase of the project has seen deployment of ATMs for some Rural and Community Banks nationwide.

In addition, platforms for INSTANT Gh-Link card issuance for RCB customers have also been deployed to some RCBs. This card being issued by the RCBs complies with GhIPSS PURE technology, which guarantees greater security and more interoperability and is the first to be issued in Ghana. This initiative provides the RCBs with a unique opportunity to provide their customers with 24hour access to their accounts through alternative channels.

ARB Apex Bank has named this card product U-CASH – which is a proprietary card product for the Rural and Community Banks facilitated by ARB Apex Bank and meant to give customers the convenience of accessing their funds from electronic channels anywhere in Ghana.

The card is the first to take full advantage of the newly-introduced EMV Gh-Link technology and create further convenience and channel options for customers on ATMs nationwide and points of sale devices.

The objective behind this is to provide a proprietary card for customers of the RCBs that enables more convenient access through the Gh-link switching service provided by GhIPSS, to provide customers with cost-effective access to their funds and also position the Rural Banks to be competitive in the drive toward achieving a cash-light economy.

This electronic platform comes with numerous benefits, which include increased float for the bank as customers leave funds in their accounts with the comfort that funds can be accessed at their convenience. Other benefits will be revenue generation on transactional fees, increase in bank’s customer base as an incentive on the CASA Drive, placing the bank strategically for the cashless society agenda, and reducing Queues at the banking halls as well as creating opportunity for loyalty schemes which will enable the banks to create valuable relationships with other parties.

The customers also will benefit from cost-effective access to their accounts, maximum accessibility through the use of a countrywide ATM and POS network, assurance of a secure way of accessing accounts (EMV Chip & PIN), and enjoying additional incentives from schemes that may be run on the card.

By advancing this initiative, ARB Apex Bank Limited is positioning RCBs to empower their customers to actively participate in the digital banking space. The expectation is that the RCBs will leverage this initiative to provide value added solutions to reach a new customer base, increase customer loyalty, as well as contribute significantly to their bottom line.

Mrs. Stella Addo; a rare gem redefining the procurement practice

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She stands tall among her peers as a successful female procurement practitioner; wielding over 23 years of experience in the profession, she appears the ideal model of this noble line of work and if for nothing at all, her knack for breaking frontiers and the feats she has chalked all through her career journey, give a better testament.

Mrs. Stella Addo boasts the first female Fellow of the Chartered Institute of Procurement and Supply (CIPS-UK) as well as the first female Fellow of the Institute of Project Management Professionals (IPMP-Ghana); two top achievements to crown her illustrious career as an icon in the procurement and supply value chain across the continent.

She has blazed the trail in the procurement practice both on the local and international fronts, having carved a niche for herself as a selfless, honest and virtuous practitioner.

In her usual happy self, she narrates to the B&FT how it all began: “I was posted to the stores of the Ministry of Education when I finished my national service. I was there as a young graduate and was given three old store-men to work with.

The ministry had then acquired some motorbikes and literacy materials that were to be distributed as part of an ongoing literacy programme across the country. I entered the store for the first time and there was total chaos, immediately, I had to arrange and put things in order; I did some coding and labeling.

Later, I was tasked to arrange three warehouses to stock materials for the ministry that was to be distributed across the country, which I did to perfection; and that was how my journey started.”

But she adds quickly that it has not been a rosy career journey for her, citing instances where she had to tackle the “block” of having a young and fresh graduate dictating to grown up men how to go about procurement in a more organised and orderly manner.

From keeping the stores, she rose through the ranks as an Assistant Procurement Officer to become Senior Procurement Officer through to Principal Procurement Officer to subsequently become the Procurement Manager at the Ministry of Education.

After serving in the public service for nine years, Mrs. Addo shifted to the private sector where she practiced for 13 years including working with Crown Agents Ghana Limited—a private firm—before joining Fidelity Bank as the Head of Procurement for three years.

Currently, she is the Country Manager of CIPS-Ghana, an institution that is changing the face of the procurement practice in the country.

Steering through a male-dominated profession, she recounts several times where she had to explain herself to her bosses to get their buy-in on certain issues.

“In all of this, I was very resilient and determined because I wanted to do something remarkable for myself; several times, women tend to be timid and laid back because they fear what might happen if they stood their grounds but that was not for me.

I believe what men can do, women can equally do so most of the time, I was able to get the men to understand that I was only bringing my ideas to make their work easier while tapping their experience; and not to “control” them.”

She added: “I was very determined in whatever step I took all through my career journey. My resistance came in the form of male dominance but I was able to fight to break that barrier.”

CIPS in Ghana

Mrs. Stella Addo is the brain behind the opening of the Ghana Office of the Chartered Institute of Procurement and Supply (CIPS-UK) sometime in October last year, after having presented a case that the country was very serious about procurement following the setting up of a special ministry to supervise the practice.

The institute, with its headquarters in the United Kingdom, operates in over 100 countries in the world with about 180,000 members and conducts about 70,000 examinations annually across the globe.

To her, the presence of CIPS in Ghana will go a long way in fostering professionalism and high standards in the practice of procurement both in the public and corporate business environment.

She shared with the B&FT: “CIPS has a lot of resources and experience that can be leveraged to help in procurement; we are in Ghana to help government to achieve its procurement aims. More specifically, we intend to do a lot of stakeholder engagements that will enable us to empower both individuals and corporate in terms of improving their skills and knowledge as well as processes and procedures.”

In the medium to long-term, Mrs. Addo indicated that the institute hopes to serve as the voice of the procurement profession in Ghana and also groom and license procurement professionals in the country to get global recognition.

Sanitising the procurement practice

Assessing the procurement practice in the country, the renowned procurement expert pointed out that there are some loopholes that must be tightened to ensure professionalism in the procurement practice in the country.

The first thing she proposed was the need to get the law regulating the profession to “bite” people whose activities go contrary to laid down processes and procedures as stipulated in the Procurement Law.

She said: “We have a law that is not biting. When people things outside the scope of the law, there should be punitive measure that should be taken and that is provided in the law.”

She believes that when a practitioner defaults, misprocures or cause financial loss to the state, they should be made to face the sanctions as prescribed in the Procurement Law, which could be a jail term or paying the equivalent of prescribed penalty points.

“Most people doing procurement are using the public purse and so they must be accountable,” she added.

Another measure she proposed is the need to license and attach validity period to license holders so that practitioners can apply for renewals having met a set criteria including career development and being at par with latest trends in the profession within the period of practice.

This, she opines, will put them in check as defaulters risk losing their license if it is established that they acted contrary to the ethics and standards of the profession.

‘I think people will sit up if they have a license that can be revoked; I believe if we do that as a country, it will help a lot and we can guard the public purse better aside deterring others from engaging in malfeasances.

Last but not least, Mrs. Addo is of the firm conviction that if we could get procurement professionals at whatever level to perform to their maximum best, there should be that room for autonomy.

That kind of environment where officers practising in both the public and private spheres are allowed operate without influence from their superiors—who are mostly not procurement savvy and whose interference hinders ultimate performance.

Grooming the next generation of female practitioners

As a selfless leader, Mrs. Addo’s love for the profession goes beyond generations as she dreams of a day that more women will take up the trade and make strides that will help the course of the country.

To her, there is the need for female executives in the procurement profession and others working in various spheres of business to upgrade themselves and excel when opportunities are offered to them.

One of such opportunities is a project she currently working on dubbed “Women in Procurement; an initiative that will empower young ladies aspiring to take up the procurement profession. I intend to be a role model for women executives.

“I believe it is the practical experiences we share will help to groom the next generation of practitioners through mentoring and coaching sessions to bring their talent to the fore,” she said with enthusiasm

Mrs. Stella Addo rounded up an interesting and insightful discussion with a noble charge to all women in leadership: “It is time for women to prove that they can equally do what men can do; women will have to stand up and be counted because such recognition will not be given on a silver platter.”

Cut down on emails: they might be bad for your health

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The kind of mood or emotional state we find ourselves in, during working hours, has a very direct effect with the quality of work we produce. This is a fact that very few people will contest. And if our work involves dealing directly with customers, then our emotions become a part of what we are offering for sale. Even if you are an alien who has just been visiting this planet for just a few weeks, you will know that a stressed-out customer-facing staff makes for a very poor service provider.

Many people are not too good at keeping their emotions to themselves. Like gas trapped in a receptacle will eventually find a way out, emotions will eventually seep out. It may take days. It may take weeks or even years but eventually, the body must get rid of the pent-up emotion.

In my experience, there are two ways negative emotions will get out. On the one hand, the emotions will get out slowly, day by day, week by week. Front line employees in this mode will let out their stress on customers on a daily basis. These are the individuals who become legends for offering poor customer service in their companies. They will regularly lash out at customers and colleagues alike.

On the other hand, the emotions may build up for months on end without showing any sign. Then out of the blue, the emotions will just blow up—without warning. I always visualise these situations as watching a calm ocean and then out of the blues, a whale comes to the surface to blow a large spout. The only difference is that whereas it is a great sight to watch whales spouting, same cannot be said of an overly-stressed individual blowing steam.

With such an importance, one would expect that businesses would make it a priority to constantly reduce the stress levels of its employees. Interestingly, this does not seem to be the case. Not many organisations even consider stress reduction as a priority. Who in the organisation’s set up is responsible for ensuring that employees are always in the best of shapes emotionally? With such an importance, why do organisations not have departments or units responsible for stress reduction? Or is that part of the job of the Human Resource Department?

Many factors contribute stress on the job. Tight deadlines, fear of being laid off and work overload are a few of the causes. It has even been found that even boring work can also cause stress for employees. For me, issues like not having the right tools and equipment to do one’s job as well as lack of management support can also be major stressors at work. One thing about all these stress causers mentioned here is that they are all of the obvious kind. One does not need to be a psychologist before being made aware that these factors cause stress.

However, there are other causes of stress that are not so obvious. One of the not-so-obvious causes of stress is right within our reach, literally. It is goes without saying that we live in a generation that is addicted to its mobile phone. I recently asked a group of young men and women what the first was that they did when they woke up in the morning and overwhelmingly 100% of them confessed that they reach for their phones.

With the phones in hand, the next thing they will do is to either visit any one of the many social media sites or to check their emails. I really did not need those young people telling me that our generation is too crazy about those mini-computers by our bedsides. I believe I am also one of those addicts.

Social media is the number one addiction with Facebook and Facebook Messenger way ahead of the pack. Instagram follows closely on the heels of Facebook Messenger, with Twitter a distant 4th on the league table of the most visited social media sites. In August 2017, a study published on The Next Web (www.thenextweb.com) stated that there are 3.028 billion active social media users around the world which is more than 40% of the current global population.

Studies after studies have proven that too much of social media is bad for our health. As a matter of fact, a 2011 study published in the International Journal of Environmental Research and Public Health clearly stated that it was very possible for an individual to suffer from ‘Facebook Addiction Disorder’. The researchers, from the Nottingham Trent University in the United Kingdom went through a number of previous studies and enumerated some characteristics displayed by addicts. It was found that those same characteristics were displayed by individuals who used Facebook excessively.

There was an article published in August 2013 that indicated that the more people used Facebook, the sadder they actually become. Ironically, there was another study published by the American Journal of Preventive Medicine in July 2017 which stated that the more people used Facebook, the more they felt socially isolated.

I am sure we could have managed the situation if researchers had claimed that only social media usage is addictive. Unfortunately, researchers also claim that an excessive addiction to even our emails has been found to be detrimental to our health. For this particular write-up therefore, our concentration is on how our perchance to constantly check our emails affects our lives.

One may ask what the big deal is with checking one’s email constantly and how it affects one’s performance on the job, especially when it comes to dealing with customers. Apparently, it is a big deal.

According to the Email Statistics Report 2017-2021 published in February 2017 by the Radicati Group of the USA,

“In 2017, the total number of business and consumer emails sent and received per day will reach 269 billion, and is expected to continue to grow at an average annual rate of 4.4% over the next four years, reaching 319.6 billion by the end of 2021.”

In February 2015, the Radicati Group reported that “The average office worker now sends or receives 121 emails a day”. The company also added that email users worldwide reach roughly 4.3 billion in 2015. All these go to prove that emails are very much a part of our lives. They have become so much a part of our daily work lives that one cannot imagine going to work without checking one’s emails. So if emails are so important, why the fuss?

One of the major reasons is that, in this day and age where everything is on fast forward, people are expected to respond to their emails as soon as possible. This puts lots of pressure on employees as they have to combine whatever they are doing with responding to mails. Sometimes an email can interrupt from a task and take away precious time from that task. A study published on careerbuilder.com in June 2014 claimed that 23% of employees admitted that emailing was one of the leading obstacles to maximizing performance.

Another study published by the Association for Computing Machinery undertaken by Gloria Mark and Stephen Voida, both of the University of California, Irvine, as well as Armand V. Cardello of the U.S. Army Natick Soldier R, D & E Center gave some very interesting insights into the effects of email usage on the stress levels of employees.

The researchers cut off email usage for five workdays for 13 information workers of a large scientific research organisation in the United States. To gauge how this affected the workers, they strapped heart monitors to the chests of these workers and tracked their computer use. The stress levels of these employees were drastically reduced when they were cut off from email. The employees concentrated more on one task for longer periods of time. They multitasked less and worked more efficiently.

This research led me to ask a few questions. For instance, is it possible that our incessant usage of email is causing us more stress than we recognised and we are actually transferring that stress on to our customers? If this is true, what are some measures that organisations should take to ameliorate the situation?

I would not go as far as advocating a total ban on emails as was suggested by the Chief Executive of the France-based information technology services firm, Atos Origin in 2011. Some have even called for an Email Liberation. I however, believe for starters, people need to reduce the number of emails they receive on a daily basis. Reducing the clutter by unsubscribing to non-essential mails whilst leaving only the essentials are a great way to start getting off the email addiction.

Ours is always going to be a love-hate relationship with emails. On the one hand, we cannot live without them but on the other hand, it is causing us more stress than we bargained for. It is a real Catch 22 situation without any clear cut answers. Individuals and organisations must critically analyse their unique situations and come up with just the right dosage of email for consumption. Like many a drug just the right dosage can wonder for one’s health but just a little more and a full-blown addiction is just around the corner.

 

#AskJNHalm

Post your questions, concerns and suggestions and also share your experiences as a customer on The Customer Experience Consortium – CXC Facebook page. @cxcghana

The art of price negotiation: the management style (2)

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In part 1 of this article, I delved into the two main types of negotiation and further supported it with 5 styles of negotiation. These laid the bedrock for the development of this paper enabling me at this final part of the paper to discuss preparation strategies for negotiation and to point out some common mistakes to avoid in negotiation and finally draw a conclusion to knit the whole discussion. When these strategies are aptly encapsulated, it prepares the negotiator adequately for management success.

It is perceived by many that good negotiators are those who possess a natural flair for negotiation. In as much as I will not downplay an inborn trait in negotiation, it is very important to point to the fact that negotiation is a skill and like every skill it can be honed through constant practice and preparation for specific negotiation before one participate in a deal.  Negotiation is best achieved when parties in the negotiation know the issues, assess their competence in specific negotiations, and know the other party in the negotiation aforehand.

Preparation is a necessary ingredient for successful negotiation. In effective preparation for parties in negotiation, it is important to know the reasons for the negotiation, and the extent and limitations each party can accommodate. Knowing what the other party wants and also knowing their limitation will help in the negotiation process. It is also important to ask the right questions during the negotiation process so as to elicit the right information that will accrue to your advantage in closing the deal. Where parties differ in views on particularly issues during the negotiation, it is important for one party to be innovative by proposing solutions that fosters mutual understanding and collaboration. To wit, not an adversarial position.

A well prepared party in a negotiation has an upper hand. Since they are mentally and emotionally prepared for the negotiation, their “antennas” are positioned to receive sharp signals thereby having a sharp clarity and able to lead the process. They think quickly and answer promptly to queries and comments.

Seven elements are widely accepted and postulated as the most viable approach to negotiation. These approach was first outlined by Roger Fisher, William Ury and Bruce Patton in their best seller “Getting to Yes: Negotiating agreement without giving in.” The seven elements are: interest, options, legitimacy, alternatives, communication, relationship and commitment. These elements equip negotiators to prepare adequately for negotiation after they have imbed them in their management lessons and practices.

The 7 strategic elements for negotiation preparation

  1. Interest

Interest in negotiation must be considered mutually. To be a strategic negotiator using the first element requires that you do not only consider your interest in the negotiation but also that of the other party. Mutually beneficial interest of parties in negotiation ensures “win-win” situation which builds and/or enhances the business relationships among the parties. Though it is in the interest of a party going into negotiation to have in mind to win. It is best when the other party do not feel cheated. It smacks on business ethics and muddles business relationship with an inadvertent loss of trust.

It is always good to find a common interest among the parties in the negotiation. List those interests and share with the other party during the negotiation process. Setting a common ground for the negotiation give parties the confidence that mutual interest will be achieved.

  1. Options

Management negotiation is not always about how much money is involved. Particularly, the nature of business negotiations always have a posture that assumes that how much profit a party makes shows their dexterity in the negotiation. Having options other than direct financial rewards and/or gains equally ensures agreement in negotiation.

An option in business negotiation though may not be a direct financial benefit, reaching an agreement on an optional basis has a financial implications since those gains and/or rewards can be quantified in financial terms. Take for example an organisation that has a medical facility for its employees, family and community. In negotiating employee benefits, offering medical care for employees’ families may be an option to offering financial rewards. Knowing that they and their families’ health will be fully taken care off gives them a sense of value and self-worth and are likely to give off their best for the success of the organisation.

  1. Legitimacy

For fairness to prevail in the business negotiation, there is the need to create legitimacy in the negotiation. Legitimacy refers to taking away the prejudice of one party’s intent to cheat the other. Legitimacy ensures standardization and a measure to which the negotiation can be assessed as fair and just. By using or benchmarking on industry’s best practice is a way of ensuring legitimacy. Being open to the law assures parties in the negotiation that they will willingly abide by the laws that governs the business they will engage in.

  1. Alternatives

The philosophy behind alternatives is to ensure that at every given time, there is no reason for failure or disappointment because an alternative plan is in place. The alternative must be equally good as the original plan hence the acronym BATNA spelt out as Best Alternative to a Negotiated Agreement. Having alternatives in negotiation should be the prerogative of all parties.

Alternatives are also known as “plan B” or “fall back plan”. This offers parties in negotiation an advantage to walk away from the negotiation knowing that they have an alternative plan to meet their need if their expectation is not met at the original negotiation process. This happens often when there are other competitors in the industry who are willing and open to negotiate with them at a mutual interest.

  1. Communication

Effective communication is necessary for successful negotiation. Keeping in mind that communication is a dialogue and not a monologue is important for parties in negotiation. The communication process prior to the negotiation, during and after the negotiation must be kept open to ensure continuous transparency.

The communication must be lateral. It should not revolve around one person for which reason his/her absence will break down the negotiation process. In any case there must be alternative leaders in the negotiation process so as to keep the negotiation communication open at all times. Negotiation communication is aimed at ensuring clarity for all parties to reach an agreement based on sound understanding devoid of technical jargons and ambiguities.

  1. Relationship

Building a continuously strong relationship among business entities inures to a better future of mutual interest. It is important for parties to assess the level of their relationship prior to the negotiation and determine how they want their future relationship to be. If they are of the same mind that they want to build or continue a healthy relationship, then that will inform their current mannerism during the negotiation. Collaborative agreement is a good way to ensuring lasting and continuous relationships. Ensuring that all parties in the negotiation walk away with a sense of gratitude is another sure way of building good relationships.

  1. Commitment  

Knowing the level of commitment of the parties in the negotiation goes a long to reaching an agreement in a negotiation. Are the parties present in the negotiation decision makers? Do they have the power and/or mandate to close the deal? Depending on the nature of the negotiation, if the parties present do not have the power to make decisions it will affect the negotiation process and the deal may not be closed. It is therefore important to have fully committed parties present so as to have a good deliberation that will lead to closing the deal.

7 common mistakes to avoid in negotiation strategy

  1. Unpreparedness

Good preparation ensures success. Effective negotiators are those who prepare by planning and following through their plans. Through preparation you are able to draw out strategies for the negotiation. Good planning gives a clear picture of how to navigate the negotiation process successfully. It enable the parties in the negotiation to have a consensus-ad-idem at the start. By planning, you are able to have a goal to reach and also prepare a checklist to follow during the negotiation. Unpreparedness for a negotiation is a common mistake to avoid. Don’t be complacent but rather follow through by preparing effectively.

 

  1. Failure to further negotiate

Usually when you go into the negotiation at a position of weakness, your ability to further negotiate through is weakened. When you consider your business so fortunate to be at a negotiation with a fortunate business, you easily accept an offer which if you had further negotiated you would have gotten something better. Failure to further negotiate has led to many businesses getting far less at the negotiation table than they would have received only if they had mastered their skills by further negotiating.

  1. Ignoring the other party

Ignoring the other party in the negotiation can lead to failure. You cannot have a successful negotiation when you ignore the party by your failure to study them closely and preempt their strategy for the negotiation. Using the technique called “framing”, you are able to influence the other party by shaping the issues for them. Once the other party accepts it, it enables you to reduce your risk level thereby avoiding failure.

  1. Cross-cultural negotiation

This happens when an investor is negotiating in another culture. Failure to take notice of the cogniscance of reality of the culture in which you intend to invest is a common mistake for failure. For example if an invest wants to invest into meat production in community that does not consume meat, it will certainly be imposing selling the meat to inhabitants of the community and sometimes the people may even revolt against the establishment of the meat production factory in their community.

Having cross-cultural knowledge will help in the negotiation process to tell the community that even though you are setting the meat production factory in the community, the meat is not intended to be sold to inhabitants of the community.

  1. Anchoring and adjustment

These are part of negotiation dynamics which when missed leads to failure in negotiation. It involves setting the parameters for the negotiation process. This is when the negotiator grabs the opportunity to watch where the anchors are set and negotiate from that point.

In a price negotiation for a sale of property, a prospective buy may offer a price lower than the asking price and instead of the seller out rightly rejecting the offer, they tell the prospective buyer that their price is not good enough instead of acknowledging the offer with a counter offer. By giving a counter offer, it sets the pace for negotiation. This means that the seller has anchored the price at a point different from the initial asking price.

 

 

  1. Giving up too early

Another common mistake in negotiation is when one party in the negotiation gives up too early at the first offer given. This is a strategy which is contrarily used in developing countries. Prices are not accepted at the first offer. No matter how much the asking price is, they will further negotiate for the price to be reviewed downwards. The intention is not to be adversarial but rather to engage the negotiation process.

  1. Celebrate meaningfully

When you close a good deal, do not celebrate in the presence or better still do not be over joy in the presence of the other party in the negotiation. When you do that, it gives the other party a sense of defeat and they will look forward into a future to retaliate.

Conclusion

There are several different approaches to negotiation, depending on the nature of negotiation a business is involved with and the approach to use. Each approach has its own strengths and weaknesses. Sometimes multiple approaches may be required to close a deal and sometimes walking away from the negotiation becomes the best choice. Whichever way you look at it, negotiation is a skill that can be learnt and enhanced. To be a good negotiator is to continuously learn the skills and practice them. Walking into a negotiation prepared ensures maximum success.

Servair inaugurates GH₵14m catering facility

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Servair, a leading airline catering and logistics provider in France and Africa, and a member of the Gategroup, has inaugurated its ultramodern catering facility within the precincts of the Kotoka International Airport in Accra.

Covering a surface area of 2,600 metre-square, the unit welcomes 115 employees and has the capacity to prepare 2,500 meals per day to serve its clients in the country.

Every month, the new facility will be able to deliver catering for 170 flights for its seven direct clients, excluding its numerous external clients which include VIP lounges, canteens, caterers etc.

Deputy General Manager of Servair in Africa, Christian Gauthier, indicated in his remarks that the 2.8million pounds investment expresses the company’s intention to continue to expand in Ghana, a market that has become a key part of its African network.

“We are proud to open this new unit; it testifies our continuing commitment to a market we entered six years ago and has now become one of the pillars of our African network, while also strengthening our position as a leader in airline catering in a rapidly developing continent,” he noted.

Mr. Gauthier indicated that the investment signals huge prospects for the business, employees and the aviation industry as a whole.

Board chairman of Servair and Managing Director of the Ghana Airports Company Limited (GACL), John Attafuah, applauded the success of the company as one significant public private partnership that has been of great benefit to the aviation industry.

“Ghana’s aviation industry is the fastest-growing and most competitive across the sub-region; the oncoming Terminal 3 at the KIA will be a game changer.

We expect Servair to maintain the high level of professionalism it is known for as the GACL collaborates with various stakeholders to achieve the ultimate success of the industry,” he said.

Aviation Minister, Ms. Cecilia Abena Dapaah, commended Servair for working hard to expand its business. To her, the new inauguration of the facility shows that government strive to create a conducive environment for businesses in the aviation sector is paying off.

She said her ministry will continue to build a business-friendly environment in the country to create more jobs in the aviation industry.

“With the rise in passenger traffic and the Terminal 3 soon to come, this facility is timely in terms of creating that warm experience for travelers aside helping our quest to be the destination of choice for travelers,” she indicated.

Competence

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Wisdom Key – We live in a period of unprecedented opportunity. The secrets of enduring advantage are available to anyone who wishes to climb to the very pinnacle of achievement. Each article in this series highlights two critical attributes from our book, 101 Keys to Achievement and Fulfillment. This is the eighth key. Determine your favourite key as you travel this incredible journey of achievement and fulfillment. Enjoy the read!!

Cristiano Ronaldo is one of the best footballers in the world today. The Portuguese winger was virtually unknown in 2003 when Manchester United toured Portugal in pre-season and played what was supposed to be a routine training match with Sporting Lisbon. The vintage skills he exhibited and his role in the surprise demolition of Manchester United earned him a transfer to join the English giants. That was a case of seizing his opportunity to exhibit his competence on the big stage.

 

Today, he has honed his skills and made significant improvements in his game. He has moved from earning a paltry income to become one of the highest paid,  most valuable and sought after players in the world. He has been voted the best player in the world on an incredible five occasions.

 

Your route to career success and fulfilment will be greatly enhanced by your competence in the important areas of your work. Everyone is paid to do something specific in a team or organisation. To be competent is to have the necessary skills or qualities; it means developing your ability in your field. The interpretation of competence varies with different roles. A goalkeeper’s competence lies in how well he prevents the ball from entering the goal posts. On the other hand, a striker is hired to put the ball into the goal posts and he earns his reward for doing just that. Whether you are paid to score, defend, attack or referee, just be excellent at doing it.

As simple as it sounds, we all must try to be the best person we can: by making the best choices, by making the most of the talents we’ve been given – Mary Lou Retton.

To improve your competence, you need to define what your role is and what constitutes success for you. Commit yourself to being excellent in that most important thing that the world looks up to you to perform. One of the habits of the competent is to under promise and over deliver. Always give people more than they expect from you. That means going the extra mile even when you have not been asked. Competence is dynamic. You cannot perform at yesterday’s level and claim to still be competent. You need to invest daily into having that something extra that distinguishes the excellent from the also runs. That is your surest way to the top.

 

Becoming the best also means enduring the disappointments and failures that go with developing your skills and keeping at it till you get to the very top of your field. At the peak of his career, Michael Jordan captured this principle so succinctly when he said, “I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

 

Confidence

 

Self-confidence is a real asset in building a career or in generally relating to people. People who are confident are noticed and respected for who they are. When you lack confidence, you hardly believe yourself when you speak and cannot convince anyone else about what you are offering them. Many people associate lack of confidence with lying. It is easily noticeable by the lack of eye contact and fidgeting when speaking.

 

Imagine sitting with an already skeptical financier you are trying to convince to invest in your new project. If you keep interjecting the discussion with comments like “Well, I don’t know how things will turn out” or “I hope it works, somehow,” what do you think the person would do? He or she is likely to use your doubt as a basis for refusal. When people deal with you, they look beyond the façade at how confident you are on the issues; and whatever they see is what they believe.

 

Confidence comes in handy for the sales person, the pastor, the politician and anyone in any kind of profession, whether as an employer or employee. When you walk into the workplace or into a meeting, you must look bright, fresh and enthusiastic. Your body language and posture must exude a sense of confidence and assurance. Dragging your feet with your shoulders drooping suggests a low sense of self-esteem. You are seen to be confident when you walk briskly with your shoulders straight and a spring in your step. Your dressing has a direct bearing and must therefore augment your self-confidence. We organised a high-profile conference where a particular speaker came much too casually dressed. This affected his self-confidence badly and, in the end ‘hijacked’ what would otherwise have been a great presentation.

 

Self-confidence is born out of a sense of self belief and self-worth. You need to appreciate your uniqueness and the value you bring wherever you go. Tell yourself every morning, as you look into the mirror, that you are one of God’s most special gifts to the world. With that kind of belief and the confidence it generates, there will be no room in your life for envying others or looking down on yourself.

 

Being confident is not a license for arrogance. With your self belief must also come a sense of humility, borne out of the realisation that you could easily fail or make mistakes. Give no place to arrogance and learn to respect the less accomplished or endowed. This will ensure that you keep rising all the way to the top.

 

Key Thought: When you look in the mirror everyday, do you see a cat or a lion? The picture you see will eventually manifest itself in your life. Tell yourself, “I am a lion.”

 

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RECOMMENDED BOOK

“101 Keys to Achievement & Fulfillment” by Albert & Comfort Ocran

 

SPRINGBOARD SMS ACADEMY

Sign up to the Springboard SMS Academy to receive daily coaching by SMS from Albert & Comfort Ocran. Text the word SPRINGBOARD to 1984 (For MTN or Airtel Subscribers) or 1985 (For TIGO or Vodafone).

 

TIP OF THE WEEK

 

You cannot consistently perform in a manner which is inconsistent with the way you see yourself – Zig Ziglar.

 

ABOUT THE AUTHORS

Albert & Comfort Ocran are Executive Coaches, Authors and Media lEducators. Their extensive list of corporate training clients can be found in the mining, petrochemical, banking, insurance, finance, telecommunications, manufacturing, public sector and not-for-profit agencies. You can reach them at [email protected] or [email protected] or call, SMS or Whatsapp 024 9999 000.

Some take-homes from CES, 2018…the biggest yearly Tech Show!

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At the beginning of the year like this, the tech giants in the world gather together to exhibit their new tech break-throughs and help define what the world should expect in the months ahead.

This year was not different when the giants of the tech world gathered in Las Vegas at the Consumer Electronic Show (CES, 2018). As one would expect, being the biggest tech show yearly, a lot of preparation by the organisers and exhibitors was put into it.

The CES, as reported has been a tradition since 1967. In marking its 50th anniversary, it had over 3,500 exhibitors – including giants such as LG, Samsung, Intel etc. Each of these companies had something amazing to showcase that will either be ready for consumers sometime this year or in few years to come.

It is very important as tech users and enthusiasts to keep an eagle-eye on these happenings, so we are not taken aback when they begin to impact our businesses and lifestyles.

Prime exhibitions included Smart home gadgets, LED TV innovations, Amazing innovations with cars, Robots doing all sorts of things, convertible computers etc.

  • A recap of 2017 Tech trends

At the beginning of last year, various tech trends were predicted to drive our tech adoption. Let’s try and recap them here.  High on the agenda for the year was AI (Artificial Intelligence), which had seen some big investment in the previous year. The general projection was that this huge investment will eventually see AI beginning a true world launch in 2018.

Cyber Security concerns have been on the agenda-board year after year, and of course were predicted to become a prime consideration. We can all testify to the fact that Cyber Attacks were so rife just in 2016, but no comfortable remedy was wholly accepted to curtail it. Several Tech Giants have fallen victim to these attacks, including Yahoo. There was therefore a need to assure clients on every platform that their data can be safely guarded from cyber-attacks going forward.

Also, Big Data has become a great topic in recent years. Having been on the plate for a while now, there was a new twist to it which seems to suggest that much more needs to be done in getting very good, if not excellent, results from the data mined. The big question was: are businesses sure decisions in the past had been any good relying on big data? If they weren’t, are they looking to do it better next time?

Let’s not forget the new trend in Social media as we were ending 2016, with fake news becoming the new norm. It became very worrying in the elections here in Ghana and those of the US. These forced tech giants such as Facebook to quickly bring out solutions to verify new items shared on their platforms. This trend of fake news can be aimed at company or personal online reputations. This obviously placed online reputation management high on the agenda for businesses and personalities.

The thought of the next level of network technology, 5G, was also making the rounds in the latter days of 2016. This initiated some aggressive research activities in 2017.

  • Some Key Tech trends from CES 2018

This year’s show saw some form of competition between tech giants such as LG and Samsung as they revealed their latest innovation in the LED TV category. Also, key to notice – as stated above – was the smart-gadget category, which suggests that soon we will be communicating with our TVs, Fridges and other home appliances. So let’s take a look at the following:

  • Smart Home: One couldn’t miss the amazing innovations that were exhibited for the smart home category. It would not be wrong to assume that Smart home devices are not too far from reaching our homes, at the most toward end of this year.The likes of Google, Apple, and LG are all fighting in this space that was once dominated by Amazon’s Alexa.

The thing is that experiments are now far advanced to have typical home appliances connecting to the likes of Google Assistant, and Amazon Echo.  And with the big announcement by Samsung that, two years from now, the world expects the next Samsung refrigerator or washing machine to be communicating with us. Note that this is not so far-reaching, as we had LG already taking the lead by revealing the Alexa-enabled fridge.

  • Changing Mobile Phone Usage: The mobile device’s usage can be predicted to see some innovations that will help redefine usage.

Biometric security and access are going to be in the next line-up of mobile devices to be on the market. It’s going to be common to have, in addition to fingerprint features, facial recognition to access mobile devices.

Next will be the ability to charge mobile devices without cords, so from a single point, various mobile devices can wirelessly be charged.

Then there is Internet speed. From the beginning of the year 2017, there was much talk and research into 5G technology. This is predicted to be possible, if not mainstream, before close of the year.

Let me not forget the Movi smartphone, an android phone with an integrated projector to enable you watch videos on you wall.

  • LED TV Innovation: When the LED TV category is mentioned today, you are sure to see competition from these two: LG and Samsung. CES 2018 was not different for these two.

Samsung unveiled its 146” LED TV called ‘the wall’. Samsung says it is taking the lead in Modular TV technology and that TV sizing should be flexible.

LG also unveiled its roll-able OLED TV. So now you should be able to roll your TV like you would do a poster.

There are certainly going to be innovations in the VR category that we will see in the market soon. Then the printing industry, especially that with 3D and scanning technology, will be seeing some new additions.

As individuals or business, we cannot succeed in today’s world without paying attention to these happenings which will obviously affect us in the near-future.

 

(E)-business & commerce Tips:

  • :ecommerceGH : @ ecommerceGH

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