Negotiations, we get involved in all the times, simple and complex. You are already going through the process of negotiation in your lives, on or off the workplace. If you have not learned this art and science formally, you may not be conducting your negotiations successfully.
“So much of life is a negotiation – so even if you’re not in business, you have opportunities to practice all around you.” Kevin O’Leary
According to Oxford Dictionary, Negotiation is “Discussion aimed at reaching an agreement.” So, reaching an agreement is the very part of its definition. Very rightly said about negotiation.
“Let us move from the era of confrontation to the era of negotiation.”
Understanding the process and improving the skills will enable you to negotiate better deals.
There are some fundamental features that must be understood in order to relate and compare the different forms of negotiation. These features are:
Justification
The need for negotiation does not arise until there is an issue that needs intervention in order to find a resolution while combining cost, time, and people. Assessing the justification for negotiation enables the involved organizations to determine whether it is viable or desirable to negotiate.
Strategy: Distributive vs. Integrative
Distributive, or win-lose is a type, where a gain for one party is a loss for the other.
Integrative, or win-win is a type aimed at building long-term relationship and arriving at a solution that benefits each participating party.
Customization
Negotiation can take place in many forms and situations. It may involve more than two parties, multiple issues, and multiple phases. It is necessary to customize the concepts of negotiation according to the situation.
Human Relation Issues
Negotiations are conducted by people. Thus, it is important to understand various factors associated with human relations such as negotiation styles, perception and cognition, and communication.
Organization
As negotiation is an interpersonal process, communication plays a crucial role. Various models are used to explain the process of communication. One of the simplest ways to represent how communication works in any interaction was developed by Shannon and Weaver (Warren Weaver and Claude Elwood Shannon, 1963. The Mathematical Theory of Communication. Uni. of Illinois Press)
Ethics
Ethics are social standards that define what is right or wrong in a particular situation. The subjective nature of these standards may lead to ethical questions and dilemmas during the process of negotiation.
Imagine how much can be gained from becoming a good negotiator; even minor improvements in your negotiation skills could bring huge returns on your investment of time, effort and money.
“Let’s excel”
For more in depth knowledge and formal learning in the art and science of Negotiating, please see details here: Certified Negotiation Associate Course