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strength and weakness of negotiation strategy
negotiation skills process
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Negotiations occur every day in the business and personal environments. Depending on one’s perspective, business negotiations may have more importance or personal negotiations may have more importance. However, business negotiations, and personal negotiations are intertwining. Business negotiations can have an influence on personal negotiations and personal negotiation can influence business negotiations. Experiences through business negotiations, even if subconsciously, often determine the outcomes of personal negotiations. One may not realize the importance of business negations in the personal environment; however, the influences may determine the outcome of simple negotiations such as a location for dinner. Additionally, negotiation experiences in business environments can be instrumental in major personal negotiations. Major personal negotiations can include purchases of real property, or negotiating salary and benefits at one’s employer. Because negotiations can have a major impact on business and personal decisions, gaining an understanding of negotiating factors and tactics is essential. Without understanding and knowledge of negotiation factors, one may not achieve a desirable outcome, or at least an outcome that will be acceptable. Obtaining a desirable outcome from negotiations is the goal for parties with a direct or indirect interest in the issue receiving consideration. Negotiating a desirable outcome may be dependent on two major negotiating factors, communication, and personality. The methods of communication and personality of the negotiators are influences on the negotiation process and outcome. Gaining an understanding of communication in the negotiation process and an understanding of personality i... ... middle of paper ... ...al personality factor of understanding a lack of business knowledge is evident allows communicating non-tangible aspects in a positive manner. When the negotiation was complete, the first individual successfully retained the desirable home. Contributing to the success is the understanding of personality and communication. Conclusion Obtaining a desirable outcome from negotiations is the goal of all parties with a direct or indirect interest in the issue receiving consideration. Negotiating a desirable outcome is dependent on two major negotiating factors, communication, and personality. In the case scenario, I was successful using personality and communication in negotiation. Gaining an understanding of communication in the negotiation process and an understanding of personality in the negotiation process can contribute to acceptable results for all parties.
My negotiation style questionnaire indicated that my negotiation style was collaborating and accommodating. In addition, I will not avoid negotiation. I felt the result was reasonable because I like negotiation and have never avoided negotiation when I have a chance. I always try to enlarge the size of the pie to be negotiated. However, the class taught me I sometimes accommodated too much and missed a chance to create value in the end. One of the reasons is that I am afraid of getting nothing and overly cautious. This leads me to compromise before maximizing the pie. I believe I can take more risks to create value.
Lewicki, J. R., Barry, B., & Saunders, M. D. (2010). Negotiation: Readings, exercises and cases
Communication skills are important in professional negotiations and in personal life. This book discusses why we find some dialogue difficult, why we avoid it, and why we often address it ineffectively. Most important, the authors suggest methods for more effective, productive, and rewarding, interaction.
However this negotiation was totally different from the other ones as our goals were completely different. My counterpart was looking for fund for his boss' campaign whereas I was looking for a buyer for my dam projects. In such a case it's difficult to negotiate as we are not looking for the same things. Thus, we need to communicate effectively to understand the other part will and then be creative in order to offer the best solution regarding both parties interests.
Negotiation occurs when two or more parties strive to resolve their divergent interests and derive a decision through effective communication and negotiation strategies (Pruitt, 2013). Negotiation is pervasive in our everyday life. Moreover, it is a learned skill that promotes flexibility and adaptability to effectively navigate relationships and potential business partnerships. Many people overestimate their negotiating abilities and enter into negotiations with an inflated sense of their skills, which leads to less than optimal results (Clenney, 2013). Perfecting the art of negotiation requires the understanding of the negotiators personal style, including their communication competency, as well as their values and beliefs.
Negotiations styles are scholastically recognized as being broken down into two general categories and those are distributive bargaining styles and integrative negotiation styles. Distributive bargaining styles of negotiation are understood to be a competitive type of negotiation. “Distributive bargaining, also known as positional bargaining, negotiating zero-sum, competitive negotiation, or win-lose negotiation, is a type or style of negotiation in which the parties compete for the distribution of a fixed amount of value” (Business Blog Reviews, 2011). This type of negotiation skill or style approach might be best represented in professional areas such as the stock market where there is a fixed goal in mind or even in a garage sale negotiation where the owner would have a specific value of which he/she would not go below. In contrast, an integrative negotiation approach/style is that of cooperative bargaining, or win-win types ...
A key fundamental of successful negotiation is to be confident in what it is you desire to attain and also what you are prepared to settle for. Another key fundamental is to know what the other persons needs and objectives are in other words know what their strengths and
Most of the common activities in our daily life present an opportunity to negotiate, whether or not we realise it. Meta-reflecting upon my negotiation experiences during the class and other activities have led me to identify few common themes. In this assignment, the two themes I will be discussing are (1) the importance of being clear on the strategic intent and big picture thinking, and (2) the importance of managing the negotiation process through understanding the various phases and visualising negotiation as a train journey.
However, this assumption is incomplete in reality. The main problem that causes the failure of negotiation is due to culture differences. Many companies are going global, people will negotiate with people come from different culture and different countries. If people do not realize what the main problem is, they will continue to have trouble with this problem.
Lewicki, R., Saunders, D.M., Barry B., (2010) Negotiation: Readings, Exercises, and Cases. 6th Ed. McGraw-Hill Irwin. New York, NY
...an agreement, in which the superior may have a final say in the matter, this too can be detrimental to the business because it only serves to lower the morale of the manager, and confidence in the work he or she is trying to achieve. Secondly the attitudes of the negotiators can greatly affect the outcome. For example, if one negotiator has a competitive behaviour rather than a cooperative behaviour then it will most likely make the other negotiator adopt a more competitive attitude and thus decrease the likelihood of inducing counteroffers that can lead to an agreement (Fisher, Fredrickson & Peffer 2000). Negotiations can also cause those involved who disagree in significant and irreconcilable ways to accentuate those differences (Hilton 1994).
Negotiation, as we’ve learned, is the process of communicating where parties can discuss problems and/or targets and attempt to solve them via dialogue in order to reach a resolution. While many individuals feel successful negotiations are due to a natural skill, the truth behind reaching a prime agreement is preparation. You need to know the issue, know yourself, and know your party. This type of preparation also includes knowing your needs and limits, understanding what the other party wants and anticipating their limits, asking the right questions, and being creative in your counteroffers.
Meaningful communication between two or more individuals rarely leads to 100% agreement between all parties involved. More commonly, there are disagreements on certain points. In a close relationship like a marriage, which is also a partnership; in a strong business relationship; or in a hostage situation, these disagreements must be worked out satisfactorily for both sides in order for the relationship to remain healthy and/or the outcome to be positive. When the parties must reach an agreement or a compromise, one of the best communication strategies is negotiation.
Negotiation has been used as a vital communication tool not only in business but also in social intercourse. It helps people make common agreement and avoid conflict. So we need to use the tactics which we learned from this course and books to do more practice, only in this way we can gain advantages in negotiation.
During this course, I have learned a lot about negotiating. We learned about almost every negotiating technique there is. We learned about cross-cultural negotiations, body language, Best Alternative To a Negotiated Agreement (BATNA), variables in negotiating, and many more. Before this course, I did not know that much about negotiating. I thought that negotiating was just about trading or convincing someone to give you what you want and you did not care about the other side, resulting in a win-lose. I now know that negotiating is about getting what you want, but also giving the other side what they want as well to result in a win-win. This paper is about how I am going to improve my negotiating skills over the next six months. In order for me to improve my negotiating skills, I believe I need to improve the following skills- my body language, communication, planning, and my interpersonal communications. By improving those skills, I can become an effective negotiator.