Psychology of Business Negotiations

All businesses understand that they must use effective communication in order to do well as a business, without communication the business will be a mess and would not run successfully. Using communication allows the employees and offices to stay up to date with the businesses progress and what is currently happening. To use effective means of communication all employees would be in a way trained in order to understand communication and use the most effective means for it. This is done in advance to checking that communication is understood by the recipient.

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.

The ability to communicate is one of the key factors to have a successful business. You could offer an excellent product or service, but if you’re unable to promote your services and communicate effectively with clients and co-workers the potential for growth is limited. The principle areas of communication are: Purpose, Style and listening.

Negotiations are something that everyone experiences and does at some level. Even if informal, people negotiate and barter using what they have to offer to get what they want all of the time. However, there are times in life where the negotiations are much more serious and the stakes a lot higher. Whether official or unofficial, there are negotiation tactics and conditions that should be watched out for because they are a sign of potential problems.

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

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.

Communication is such an important part of everyone’s daily life, not only in one’s personal life but also in organizations. Also now a day, we are becoming every year more and more global and working with different countries and cultures around the world. Henceforward, globalization is increasing, which makes communication a very important part of doing business internationally.

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

Communication is the vehicle of negotiation. A negotiation is the process of discussing objectives with the view to reaching a consensus. Further, this process requires respectful, clear communication and active listening. During the process of the negotiation active listening is pivotal - paraphrasing and parroting ensures other parties that their agenda has been understood and considered, creating a feeling of open discussion rather than placing people in the position

Business communication can be defined as the process of sharing information among business professionals, prospective customers, and affiliates who are associated with an organization. The essential skills of business communications are currently in demand and highly required for the workforce for the modern workforce. To be an effective communicator is to have the ability to respond with skill, confidence, and assertiveness and is pertinent to the quality and expertise business professionals considered for employment. Hence, knowing how to communicate properly in an organizational structure requires the skill of communication necessary to interact with different levels of management. In a world

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.

At this stage negotiators stop focusing on their opponent’s needs and priorities and state their own needs and priorities. It is about creating value for your side and asking for the value that you want in exchange. It is the most highly competitive stage of negotiation. Arguments often take place about the value of items on either side of the equation and whether sufficient value is being offered from the opposing side in exchange. It is important that these arguments are handled even handedly even when negative tactics such as threats are used to move one or the other side to action (Craver, 2004).

The commencing of negotiation can help building rapport that is pivotal for a negotiator to gain more information from their counterpart. Combined

Business communication is abound in today's society. The ability to communicate has always had its advantages, with its rich history, and traditions, modern business communication is valued as a modern day concept. Business executives rate the ability of business communication skills as among the personal factors necessary in gaining a job. As stated by Hynes (2005)” effective business communication is the key to planning, leading, organizing, and controlling the resources of the organizations to achieve objectives” (Conrad & Newberry, 2011, p112). This essay will examine what business communication skills is needed for the process of graduating in Westminster Business School, while giving recommendations in studying