Hrm 531 Week 1 Reaction Paper

In response to this scenario, I would first schedule a meeting with the author and their literary agent (if they have one) to have a discussion and ask some fundamental questions in regards to the acquisition process to get a general understanding of the idea, plan, and content of the book that he proposed. If it sounds promising and has potential to become a success, I would then proceed to request for a copy of the manuscript so that I can read it and get a deeper understanding of its content. Once I read the manuscript, I will do some market research and competitive analysis of similar books to see their current demand, value, and sales in the market. Through this research, I would be able to get an overall picture of its viability and consider whether the manuscript is worth publishing or not. …show more content…
If I am interested in publishing the manuscript, I would prepare an acquisition proposal as well as a profit and loss statement (P&L) that includes all of its element such as revenues, direct cost, copyrights, royalties, and other clauses, to be brought to the meeting to determine if the book would make enough money and be successful. In the second meeting, the author will have a look at the acquisition proposal and P&L statement about the manuscript and if they are happy with the terms, they would proceed to sign the contract and both the author and I would then receive a copy of the signed contract as a proof of approval of the agreement from both parties. Once the contract has been signed, I would be able to start working on publishing the manuscript as a book legally without having to be concerned about ethical or professional challenges from the