Book contents
- Frontmatter
- Contents
- Acknowledgements
- Dedication
- About the Authors
- Foreword
- Preface
- Introduction
- Part I Entrepreneurship in The Twenty-First Century: Managing in A Vuca World
- Part II Entrepreneurship: Minimize Mistakes To Maximize Gains
- Part III Strategy, Planning and Tactics in Negotiation
- Part IV Negotiation and Women Entrepreneurs
- Part V Cultural Dynamics and Negotiation
- Index
Chapter 3 - Communication Skills for Entrepreneurs
Published online by Cambridge University Press: 17 October 2023
- Frontmatter
- Contents
- Acknowledgements
- Dedication
- About the Authors
- Foreword
- Preface
- Introduction
- Part I Entrepreneurship in The Twenty-First Century: Managing in A Vuca World
- Part II Entrepreneurship: Minimize Mistakes To Maximize Gains
- Part III Strategy, Planning and Tactics in Negotiation
- Part IV Negotiation and Women Entrepreneurs
- Part V Cultural Dynamics and Negotiation
- Index
Summary
Learning Objectives
1. To understand the importance of communication in conflict management
2. To describe how negotiation works toward forming the entrepreneurial skills
3. To highlight the key tactics of communication for effective negotiation
4. To discuss how non-verbal communication plays an important role while negotiating with the other party
5. To learn the key aspects of persuasion skills demonstrated by the negotiator in negotiation
6. To understand the role of influencing skills in negotiation and conflicts
OPENING SCENARIO: THE DISNEY-FOX MERGER
One of the greatest media acquisitions of all times started with two glasses of wine at the Mortgage Estate winery in California in late 2017. Host Rupert Murdoch, twenty-first century Fox chairman, and Disney President Bob Iger got along very well. As Iger said on CNBC: “We genuinely like each other and respect each other.” A good start for a very discreet deal that only became known when it was almost done. The negotiations were conducted very quietly; even top executives of both companies were kept out of the loop. Once the market found out about it, Comcast (who owns NBCUniversal) made a counteroffer of $65 billion all cash.
Sony Pictures Entertainment and Verizon expressed interest, and Disney quickly topped up its original $52.4 billion offer to a staggering $71.3 billion showing the power of a strong alternative. Disney would only purchase the twenty-first century’s entertainment asset, without its news and sports division. These divisions would be spun off into a New Fox.
But the acquisition was also problematic for Disney, as buying Fox would be a horizontal merger, meaning that the company buys another one offering the same products. Yet, regulators quickly confirmed the deal. The deal illustrates Disney’s taste for consolidation. Disney already owned Lucasfilm, Marvel and Pixar.
Communication Skills and Conflict Management
Communication is vital for everyone; it occurs when an individual or a group share, inform, guide, tell, persuade, convey and influence the other individual or group of people to attain one or more objectives and goals. This exchange of thoughts, ideas, feelings and emotions is all part of the process of communication.
- Type
- Chapter
- Information
- Negotiation for EntrepreneurshipAchieving a Successful Outcome, pp. 43 - 64Publisher: Anthem PressPrint publication year: 2023