6 Snares of Business Negotiations

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Whenever we go for an important negotiation, it is critical to be adequately cautious. In this regards there are 6 possible snares which we must take care of:

  1. Never underestimate the opponent’s ability. We do not know how much armour the opponent has gathered before coming to negotiating table. Besides, he/she could have consulted highly proficient professionals and come prepared.
  1. Preparing for what to speak is not enough. You must decide and practice how to speak, particularly maintaining your tone. More than that; prepare yourself to listen. Make a strategy to make the opponent talk. It is necessary to find out the real intent. Recognize the intent.
  1. Not following the tried and tested principal, ‘first understand and then be understood’ must be avoided. So at the negotiating table the first thing we must do is to listen. Let the opponent put forth all the demands.
  1. We must list out the demands of the opponent that we may concede. Being stubborn will only break the negotiation. It’s a loose/loose situation which needs to be negated. First talk of lesser concessions and offer the ace for which the opponent is most keen at the end.
  1. Be prepared that the negotiation may not bring about the desired result. So never give more information than what is necessary.
  1. In the instance of not coming to a conclusion create a space for the next meeting. Failure should never be considered as final. Then prepare for the next meeting at the agreed time with all that transpired carefully assimilated.

Thanks for reading.

Negotiation Skills

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Hi, today I will talk to you about Negotiation Skills. What is negotiation? How does it work? What is the need? I will try to answer all these and other related questions in a simple manner.
Whenever two or more parties sit together to resolve certain issues concerning them, negotiation come into play. Discussion could be about resolving some dispute, concluding a sale or even influencing some people or a group to get some ideas accepted.
Now, let’s see the possibility of success of negotiation. Success depends primarily on three aspects. These are:

  1. Issue should be negotiable. We can negotiate buying or selling a car, or a piece of land or house. But no negotiation is possible on for your example child, or for that matter any other object with which either party is emotionally attached.
  2. Second factor is the willingness of the parties to accommodate and compromise. Extremely rigid attitude cannot bring about any success is negotiation.
  3. Next, third factor for successful negotiation is that the parties must have some respect, some trust among them. This, acts like a bridge and negotiation can achieve some success. It can resolve some problems.

Having described the factors for success of negotiation, I should now talk about the basic ingredients. What are the requirements of negotiation? These are:

  1. Knowledge of human behavior. Negotiating parties need to conversant with normal human behavior. How do they react to the conflicting views?
  2. Secondly, the negotiators must prepare themselves for discussions. They must collect all the relevant information regarding the issues. Preparation is a must.
  3. Third requirement and lastly is that negotiators must understand the role of assumptions. We all harbor certain due to experience of life and society. The negotiators must reflect to clearly understand these assumptions. Undoubtedly, they play an important role during negotiation.

Then, we come to the next aspect of negotiation.
The techniques which are:
Strategy or the plan & techniques

  1. Strategy: the negotiating parties work out their strategy. It’s like an army general working out plan with his lieutenants. Each step is defined keeping in view the strategy of the opponents.
  2. Tactics: the negotiators must be adept in devising required tactics. Tactics are maneuvers, which the negotiators adopt during discussions. This is particularly important as at time the strategy may not work. Tactics require the negotiators to be adept, alert and creative in modifying the steps on the spot when needed.

Thank you.