Leveraging virtual negotiation technologies for effective business relationship management in the manufacturing industry in Zimbabwe, a case of Shepco holdings

Author

Chari, Chiedza

Title

Leveraging virtual negotiation technologies for effective business relationship management in the manufacturing industry in Zimbabwe, a case of Shepco holdings

Abstract

Management of business relationships in the manufacturing industries proved to be very difficult for companies intending to negotiate with stakeholders that are from a distant location. This study explores the utilisation of negotiation technologies as a means to enhance business relationship management in the manufacturing industry in Zimbabwe, a case of Shepco Holdings. The manufacturing sector faces challenges in maintaining relationships with suppliers, distributers and other stakeholders. A mixed approach was used to, combining closed questionnaires and interviews were sent to the sampled population. A correlation research design was used to determine the relationship between variables of this study. A sample size of 80 was used from a targeted population of 100. Statistical Package for Social Sciences (SPSS) software was used to interpret quantitative data while thematic analysis was used for interview returns. The research focused at examining the impact of virtual negotiation technologies on business relationship management and to develop guidelines and best practices for leveraging virtual negotiation technologies in business relationship management. The findings reveal that negotiation technologies such as video conferencing, collaborative software, e-sourcing platforms and online negotiation platforms offer significant benefits for business relationship management in the manufacturing industry. These technologies streamline communication, improve information exchange, and increase efficiency, improve accessibility to global partners and reduce negotiation time. Moreover, they provide valuable analytics and insights that enable informed negotiation strategies and help build trust and transparency among business partners. However, several challenges were identified, including the need for technology adoption and integration, data security concerns and potential resistance to change. The study concluded that there is a positive relationship between virtual negotiation technologies and business relationship quality. This study implies that VNTs play a pivotal role in managing business relationships in the manufacturing sector and strategies, including training programs and establishing clear guideline and protocols for virtual negotiations to ensure effective integration of these technologies. The study recommends manufacturing companies should embrace VNTs as they can help them improve their business performance and further studies to delve deeper into specific technology implementation strategies and assess the long-term impact of negotiation technologies on business relationship with the manufacturing industry and other sectors.

Date

June 2025

Publisher

BUSE

Keywords

Virtual negotiation technologies

Business relationship management

Manufacturing industry

Stakeholder management

Digital negotiation

Supervisor

Dr Mutsvangwa