Two factors that operate during the actual negotiation are the tactics of negotiation and the interpersonal behavior that accompanies them. After reading this article you will learn about:- 1. xi. Look out for positive signals of cooperation from the other side and build on these. Approaches to Negotiation 3. Having your objectives clearly in mind is very important. When the needs of the negotiating parties a 45.1 looks at some of the aspects of this approach. We tend to deal with the same bankers, suppliers, clients, directors, managers, etc., for a long time. negotiation theory, introduces basic definitions and concepts, and provides an overview of some of the main schools of thought contributing to the existing negotiation literature. The concept is more popular amongst academics and mediators than in business. Instead, think of a wide range of possibilities that could please both sides. It pays off to aim for the best deal you can imagine. The outcome of a negotiation depends on the approach. Principled negotiation uses an integrative approach to finding a mutually shared outcome. That is why this is also called the win-lose approach. We find a lot of literature available on this topic in different resources. Any negotiation has to be done in a planned and formal way with an objective and purpose. This will help you to assess the situation better. Negotiation as an art and negotiation as a science: Two fundamentally different statements but one cohesive element binds them together – process. Listen actively and keep an open mind rather than deal from a position of ‘entrenched antagonism.’. Negotiation has become an art and profession. You must also have ready all the arguments you may need to justify your point of view, particularly on those points which you want to win. Identify your priorities, your needs, and your top and bottom line beforehand. Many organizations, universities and business schools across the world are teaching negotiation as a subject and also conducting research in this field. Start studying CST 100 Exam - Chapter 5. Here, we overview the seven elements: Interests. Negotiations have become one of the researched topics and a lot of literature can be found on this topic. Do your homework beforehand – research the opposition, the topic, and your own team’s blind spots or hang-ups – so you don’t waste anyone’s time. Major Elements. A compromise is the best way out when it is impossible for both parties to convince each other or when even the partial attainment of one party’s goals depends’ on the satisfaction of the other. And for this they must put up or encourage proposals, not hold on to whatever grievances they have or whatever arguments they deem right. Behavior refers to the relationships among these parties, t… How the other party sees you is important too. As you start the process of negotiation bear in mind four important principles. This is adopted when one negotiating partner feels his own interests are threatened and reacts by doing all he can to ensure that the outcome of the negotiation does not serve the other party’s interests either. There are many different ways to categorize the essential elements of negotiation. However, by the time the negotiation closes, they are expected to settle on something they can both relate to as a ‘good deal.’ This is the point of balance which is usually a range of solutions around the middle point of the scale, as illustrated in Figure 4.1. vi. It is important to enter all negotiations recognizing that you may not be able to come to an agreement. Or, in a roommate situation, Carl comes home one night and the locks are changed on the door. ix. The ‘loss leaders’: what we are prepared to trade in order to reach a deal. It is important to know something about the people with whom we must negotiate and the organization they represent. The triggering event brings the conflict to everyone's attention – it is the lightning rod of recognition. In effect, everybody ends up being a loser. Avoid manipulating because it creates bitterness rather than harmony. Sometimes matters proceed along the lines you expect; many times they don’t. She became a professor in a university and married Chung Minwoong. One view of negotiation involves 3 basic elements: 1. Adapting and fine-tuning may always be required. vii. You can always trade down. The process refers to how the parties negotiate. Remain flexible. The context of the negotiations, the parties to the negotiations, the tactics used by the parties, and the sequence and stages in which all of these play out. Variables that are traded are referred to as ‘concessions.’ Negotiation is in fact, the process of trading concessions. A key to negotiation is knowing the other side’s primary and secondary need and using the latter as bargaining chips. All possible solutions are put down, without any of them being evaluated. Generally parties won’t compromise and stick to their already formed agenda and they leave no room for compromise. Negotiations happen in everyday life. The win -win approach is superior to other problem-solving styles, because everyone ends up feeling satisfied. Encourage the other party to look at the issue from your perspective. Negotiators use different ways and tactics of negotiating like presenting demands, deadlines, mediation, arbitration, best alternative to a negotiated agreement, collective bargaining, collective action, conciliation, contract, dispute resolution, expert determination, game theory, Nash equilibrium, prisoner’s dilemma, etc. A good deal of preparation is necessary to ensure that your endeavors are successful. Plagiarism Prevention 5. 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