The effectiveness of emotion driven price negotiation to achieve best value for money for procurement of goods in the donor funded development projects in Bangladesh: an assessment
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As Procurement of donor funded development sector is increasingly becoming prominent in Bangladesh, it also becomes very important to reach out to the best possible value that can be attained from the spending. Although it is well acknowledged that Procurement has been one of the important areas to work on to attain the overall value of the entire process, very few studies have been conducted to find out the effectiveness of the Procurement that can generate real value in the Development Sector of Bangladesh. This work solely aims to figure out to the effectiveness of procurement practice that are currently exercised in the field of development sector in Bangladesh and its potential if efficient price negotiation session can be arranged. Specifically the assessment wants to see the possible impact of emotion driven price negotiation which is relatively a recent addition in Bangladesh scenario. Moreover, the impact of emotion driven negotiation to achieve best value in the entire procurement process through staff competency and procurement performance are given emphasis to show how incorporation of this new idea can bring new positive results. The assessment finally reveals the significance of efficient management in the entire procurement cycle and practice ultimately affects procurement performance and its effectiveness if both buyer and suppliers are emotionally connected to a humanitarian cause. The assessment was conducted through a detail design using a number of participants from different sections participated in a survey within some INGO (International NGO), National NGO and Donor Agencies in Bangladesh. The study engaged purposeful sampling to select the sample questionnaire. This resulted to a sample size of 40 staffs from different organizations. A semi structured questionnaire for data collection was used as primary source of data. The primary data was analyzed statistically using traditional narrative summary analyses. Findings indicate that using emotion driven price negation can bring new positive impact to achieve better value for money in the procurement process and practice of donor funded development projects in Bangladesh.