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Negotiation

29 Mar 2017Business Essays

Introduction

Negotiation involves an activity between two individuals. It is the resolution of contradicting interests lacking the implementation of force. Negotiation is skill that is capable of being learned and mastered. A good negotiator needs to be aware of several factors including: (1) his or her interests and those of others; (2) the application of imagination in order to increase the possibilities of producing concurrence; (3) how significant the association with other parties; (4) the willingness and capacity of the other party to put together and carry out an obligation; (5) the importance of impartiality in the course of negotiation; and (6) the other party’s ability to communicate in order to effectively acquire information, which is the essential quality of negotiation. To be an excellent negotiator one must therefore need to exercise power, make use of common sense and sensitivity, as well as posses a superior character.

In every negotiation, it is essential that parties make a decision whether to be cooperative, competitive, or a combination both. Building a relationship in today’s fast paced environment is frequently ignored in the interest of getting to the point and time saving. This fundamental oversight can be very costly. Negotiations skills therefore will be the decisive factor determining the achievement or breakdown of the business.

Social Skills

Negotiators are humans and humans have the tendency to take different actions in every different circumstance. As social beings, such response is no more than human nature. It is important therefore that negotiators posses outstanding social skills in order to take advantage on the preliminary social interaction. Humans gain knowledge in the course of socializing, by observing others, collecting those observations and gathering them up to apply in the future. Prospectively useful insights in the actual negotiation are stored and drawn together for future reference. First-class negotiators are individuals who are not only familiar with the negotiation process, but as well devoted to study the nature of human under crisis circumstances.

Creating Values

Creating value is one of the most essential characteristic of negotiation strategy. In creating value in negotiation, one must reflect on: (1) knowing what the other party desires; (2) knowing the desired objectives; (3) establishing the common area; (4) phrasing communication to the interests of the other party; (5) establishing a guidelines of restrained trading standards; (6) preparing the stability of negotiating control; (7) documenting concurrences; and (8) following the negotiations up with action (Wekie, 2008). Parties in a disagreement have to manage to find means to enhance the total advantageous outcome that will be shared between them. By communicating with one another and openly giving out information, the parties are not only obtaining collective interests, but also producing mutual gain.

In addition, before getting involved in a contract conference a person must make his or her mind up with reference to uncertainties and must mentally prepare his or her self to win. Self-doubt will destabilize a negotiator’s argument and motivate others to stand firm and retaliate. If negotiators are confident that they are proper and believe that a success is necessary, their enthusiasm colors their argument and fortifies their assertions. Others will be convinced or at least think about the negotiator’s point if the latter’s passion is sincere and apparent.

Do not Insult

In any negotiations, questions supply an exceptionally significant function. A person raises questions in order to understand other party’s viewpoints, to ascertain their assumptions and objectives as well as to help person be in command over the process of negotiating. In order to be persuasive, every question must be constructed differently to every person. Questions must be framed in ways that do not offend any party or individual. An excellent method of asking questions is to deliberate each possible question in terms of climate, needs and objectives.

In the same way, it is extremely effortless to insult people or get them offended and annoyed. Nothing will devastate a transaction more quickly than distrust between the involved parties. In a disagreement over an insignificant matter between a negotiator and the prospective customer, a simple admission of guilt by the negotiator may give way to a major compromise by the prospective customer. Although to some extent the price of the apology by the negotiator affects self-image, nevertheless the return of the act is generally a lasting business relationship.

Conclusion

Negotiation power includes preparation of skill, information and knowledge; credibility, legitimacy and trust; social skills to expand a constructive operational relationship; dedication to resolving the concerns to make an arrangement; resourcefulness in providing options and alternatives; and encouragement of a satisfying solution that are appropriate for the entire parties to the negotiation.

To be a good negotiator, one must be competent of talking slowly and thinking fast, in addition to being imaginative and flexible. It is generally believed that a good communicator automatically qualifies as first-rate negotiators; however, factors such as ability to pay attention and arrive at conclusions are in addition necessary to make them successful. Speaking and listening therefore must be used in the equivalent ratio. In addition, one must encompass a sufficient amount of clear sense of personal interest, as well as to be prepared to appropriately refrain or to persevere, or continue to make a transaction regardless of how tough the resistance. Clearly, negotiation is well worth studying since it has become an important skill for nearly all professions these days.

Reference

Wekie. (2008, December 8). How To Create Value In Your Negotiations? Wekie.com. Retrieved December 12, 2008, from https://wekie.wordpress.com/2007/09/25/how-to-create-value-in-your-negotiations/

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