NEGOTIATION STRATEGIES AND BUSINESS FLEXIBILITY OF BREWERY INDUSTRY IN SOUTH-EAST, NIGERIA

Abstract

This study examined the relationship between negotiation strategies and business flexibility of brewery industry in South-East, Nigeria. The main objective of this study is to investigate the relationship between negotiation strategies and business flexibility. The design adopted was survey; questionnaire was used as an instrument of data collection. The population of the study covered the entire 573 senior and management staff of three major brewery companies in South-East, Nigeria. From the population, the researcher used Taro Yamane sampling formular to reduce the population and select 236 staff as sample size. The data collected were presented in tables and analysed using Mean Statistic and Pearson Product Moment Correlation Coefficient (at 0.05% level of significance) through SPSS version 21.0 was used to test the hypotheses. The study found that consideration to other party’s priorities and potential concession has significant and positive effect on increased adaptability and employee empowerment. The study concludes that effective negotiation strategy is a road map to achieve sustainable business flexibility in brewery industry in South-East, Nigeria. Based on these findings, it was recommended that there is need to understand other party’s priorities and make concessions so that there will be good crisis management and lasting solution to the problem; management/employer(s) should always negotiate with other stakeholders, especially employees so as to achieve business goals.