The Art of Negotiation

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The Art of Negotiation: Best Practices for Success April 2010 © 2010 Denali Group Introduction This whitepaper closely examines techniques that are key to In-Flight Negotiations. Specifically, we will address critical components of successful negotiations, including: 1. 2. 3. 4. 5. 6. The Negotiation Process Key Principles Strategy and Tactics Best Practices Lessons Learned Conclusion 2. The Negotiation Process There are two distinct phases and four critical steps to a successful negotiation process, as illustrated below. Preparation is key to the process to ensure that you are negotiating from a position of strength. The old adage “knowledge is power” certainly holds true when it comes to leveraging timely market intelligence…show more content…
Lessons Learned When the negotiation process is complete, it’s time to revisit the process to evaluate what worked and what can be improved upon in future negotiations. It is also important to communicate the successes and lessons learned to other internal stakeholders. • Promote successes within the organization via internal newsletters and other forms of communication such as your intranet; remember to “ring the bell” each and every time savings is generated and share credit with the entire stakeholder team Initially, look for a couple of “quick wins” to gain support from internal stakeholders Create a mix of large, complex projects with less complex, smaller projects Don’t say “no” to helping a business owner, especially early on in a program – building relationships and helping the business owner achieve his or her goals is critical to gaining trust and access over the longer term Top-down support is critical for this type of program to work, for example, a COO mandate plus numerous presentations to/discussions with business owners at both the director and VP level are recommended Top-down support is NOT enough – a “bull in a china” shop approach will not work because front-line business managers will shut you out; it is critical to build relationships at the manager level and to make sure that goals and objectives are aligned,

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