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Negotiation is the process of bargaining that precedes an
agreement. Successful negotiation generally results in a
contract between the parties. Best type of negotiation is
“win-win” which means both parties will be satisfied with
the result.
“Win-Win” negotiation is about alliance not conflict.
Successful negotiation results in long lasting and fruitful
professional relationships between parties, reduced
tension and stress associated with aggressive bargaining
methods and leads to more productive and creative
businesses.
In this Presentation we explore five steps to a more
successful negotiation for all parties involved:
1-Be Prepared
Make sure you are absolutely clear on what
outcome you want to achieve before entering a
negotiation. Plan your questions, strategies,
alternative offers and suggestions based on how
the other party may react. Study and research
other party’s long term goals, their recent
activities and businesses and their past negotiation
history and techniques. Ensure you know what
their requirements or offers are before starting.
2- Listen Effectively
The main purpose of effective listening is to
understand the other person. By listening and
showing genuine interests in other party’s offers,
suggestions or ideas, you can create a positive and
productive environment for empathic
communication which is more likely to results in
success.
3- Give Credit
Successful negotiators don’t want the glory of
winning a contract all for themselves. They often
throw ideas to the table and watch and encourage
their team members or even opposite party to
expand on the suggestions and come up with a
winning result. A competent negotiator
appreciates and praises people involved for their
contribution even if they had came up with the
original idea themselves.
4- Compromise
Be prepared to be flexible and to change your
position and requirements base on how
negotiation is progressing. You should have
alternative offers or requirements in order to be
able to deal with any unexpected proposition or
ideas from opposite party. Remember this is a
“win-win” negotiation not “I-want-to-win-all”
negotiation. The results should bring success for
both parties.
5- Recapitulate the Results
At the end of the session, list all the points covered
in the meeting. Make sure everyone is aware of the
final agreement. Be prepared to answer questions
about the results and offer post-meeting help and
support.
