INTRODUCTION Negotiation is something that everyone is familiar with and we all do every day. Negotiation is an art or a way in which two or more than two parties reach a mutually benefitted agreement; thereby there is win-win situation for both the parties involved. This skill is very important for everyone, even if you own a small business; this is a necessary skill as many business deals require negotiation. The golden rule for successful negotiation is to be fair and square with everyone. An aggressive behavior will not give you a fair deal and you may end up losing your customer/partner. Being a good negotiator helps you to reach agreements, achieve objectives, get along better with people, and ultimately be more productive and successful. …show more content…
Individuals decide what they want, then each side takes up an extreme position, such as asking the other side for much more than they expect to get. A typical example of negotiation over the price of a car: “What do you want for it?” “I couldn’t let it go for under £2,000.” “I’ll give you £1,000.” “You must be joking.” “Well, £1,100 and that’s my limit.” “£1,900” … “£1,300” … “£1,700” ... “£1,500” … “Done!” While this form of bargaining may be acceptable in the used car market, and even expected in some cultures, for most situations it has drawbacks. These drawbacks can have serious consequences if applied to social situations. THE WIN-WIN APPROACH TO NEGOTIATION Many professional negotiators prefer to aim towards what is known as a Win-Win solution. This involves looking for resolutions that allow both sides to gain. In other words, negotiators aim to work together towards finding a solution to their differences that result in both sides being satisfied. Key points when aiming for a Win-Win outcome include: Focus on maintaining the relationship Focus on interests not positions. Generate a variety of options. Aim for result to be based on a objective
Gina Blair and Daniel Trent cooperate and collaborate to achieve a common objective throughout their negotiation. A cooperative negotiation style is demonstrated as they combine their points of view regarding their clients concerns with outcomes to effectively solve the issues raised. The main focus of the negotiation is to reach an agreement rather than a continuous dispute. Accordingly, the conflicting objectives were resolved by compromises and solutions but forward by both Gina and Daniel. The negotiation style used between Gina and Daniel is described as principled negotiation where both parties jointly attack the problems arising to achieve a compromise.
Negotiation is a fundamental form of dispute resolution involving two or more parties (Michelle, M.2003). Negotiations can also take place in order to avoid any future disputes. It can be either an interpersonal or inter-group process. Negotiations can occur at international or corporate level and also at a personal level. Negotiations often involve give and take acknowledging that there is interdependence between the disputants to some extent to achieve the goal. This means that negotiations only arise when the goals cannot be achieved independently (Lewicki and Saunders et al., 1997). Interdependence means the both parties can influence the outcome for the other party and vice versa. The negotiations can be win-lose or win-win in nature.
Neither party should enter the negotiation in a head-on confrontational manner. Both parties should allow the other to be open in their communication, listens carefully to each other’s position and interests, and summarize what is said to clarify understanding. Once both parties have expressed their needs, they must seek alignment.
Negotiation is a fundamental process used in resolving conflicts, making business deals, and in managing working relationships with others. Negotiations occur for two reasons: (1) to resolve a problem or dispute between parties, or (2) to create something new that neither party could do on its own.
A form of decision making process in which 2 or more parties talk with one another in an effort to resolve their opposing interest
Consequently, negotiation is a process that can be approached in many ways. No matter what strategy we choose, success lies in how well we prepared. The key to negotiating a beneficial outcome is the negotiators’ ability to consider all the elements of the situation carefully and to identify and think through the options. At the same time, negotiators must be able to keep events in perspective and be as fair and honest as circumstance allows. Because a common ground or interest has brought the parties to the negotiating table, a negotiator can benefit by trying to capitalize on this common
Simply put resting at a conclusion after a negotiation may not necessarily be the ideal outcome unless cooperative is achieved by both parties. Bargaining in general could involve parents, friends, teachers, spouses, employers, and so on (Anderson, 2013). Likewise companies also negotiation contracts with one another or individuals involved within the companies.
Negotiation is one important part of both the professional and personal life in our everyday situations. It is critical for people to resolve disputes, distribute limited resources, and/or create something new that neither party could achieve on his or her own. Negotiations can range from coordinating project timelines with clients to asking for a raise to discussing holiday plans with family members.
It occurs in profit or non profit organizations, government sectors, dealing among nations and also in our personal situations such as salary package, house purchase, marriage, divorce and etc. The strategy to use can either be distributive or integrative depending on the situations and the outcomes that the party want out from the negotiation.
Conflict or disagreement over the range of issues has become inherent aspect of modern organisational life. People from different cultural and education background work in an organisation. People working in an organisation may possess different goal and interest. People working in organisation may tend to different over a range of issues including organisational politics, organisational procedure, personal preference or political preference. It is also argued that conflict is essential characteristics of organisational life. Role of manager is paramount with regard to negotiating the conflict that arises in organisational life (http://www.sagepub.com/). Often lack of
Whether it is at work, church or in our private relationships, negotiations are a necessary tool for reaching an agreement. They are made by discussing each parties point of view with the aim being to reach an agreement that is mutually beneficial. For the most part, negotiation is the process by which those people involved successfully adopt or abandon their respective position through the use of positional bargaining. There are different types of approaches for the negotiation process - some hard and others soft in their manner of approach. The desired outcome of
An effective negotiator is a strategic negotiator, who is able to switch back and forth between different phases of a negotiation without losing the goal in mind. An effective negotiator takes time to process what is happening during the negotiation and ensures that the right problem is being resolved while taking into consideration other party’s intrests to finding a common ground. Concequently those type of actions facilitate in the process of a negotiation by creating a cooperative environment and enhance the furture relationship between the parties (Fells 2012; Sebenius 2001). An effective negotiator aknowledges that no party is the same and as every negotiation, every negotiator is different from one another. These variations explain the DNA of negotiation that requires an effective negotiator to take into considerations the strands of the DNA, such as “reciprocity, trust, power, information exchange, ethics, and outcome” that vary from person to person (Fells 2012, pg 8).
In life there is always some type of give and take amongst others. Some exchange may be beneficial and some can be regretful. This is all the same with negotiation, either is to negotiate a divorces decree, price of a new home, or a NFL or NBA contract deal. The world today is full of negotiating situation in and can be executed at any given time. There two common characteristic of a negotiation or bargaining situation. Negotiating parties have separate but conflicting interest.
Negotiation is the process of two individuals or groups reaching joint agreement about differing needs or ideas. Oliver (1996) described negotiation as "negotiators jointly searching a multidimensional space and then agreeing to a single point in the space." Negotiation is a form of conflict resolution. When we negotiate, the first thing that needs to be established is whether we have two or more parties that have a common objective, but also differ in ideas when it comes to how they achieve the objective. The principle behind negotiating is to finding the middle ground that is suitable for both parties involved. Not all negotiation ends in satisfactory compromise, sometimes negotiations can take a long time to conclude
Negotiation is all about a strategy. The end result is usually to end a problem that someone is having, whether it is personally or