Negotiation

NEGOTIATION
INTRODUCTION TO NEGOTIATION
NATURE AND NEED FOR NEGOTIATION
FACTORS AFFECTING NEGOTIATION
STAGES OF NEGOTIATION
ROLL OF PERSONALITY IN NEGOTATION
WHAT IS NEGOTIATION STRATEGY?
FIVE SUCCESSFUL NEGOTIATION STRATEGIES
NEGOTIATION STRATEGY: SEVEN COMMON PITFALLS TO AVOID

1. NEGOTIATION

2. INTRODUCTION TO NEGOTIATION “Negotiation is a discussion among the individuals to reach an alternative to satisfy all”. “Discussion” here means simply the exchange of one’s ideas, thoughts and opinions with each other and not arguing. One needs to have excellent communication skills and impressive personality for a healthy and an effective negotiation. One should very sensibly convert his/her thoughts into a speech by carefully selecting relevant words. Haphazard thoughts and abstract ideas only lead to confusions. One should be crisp and precise in his/her speech.

3. NATURE AND NEED FOR NEGOTIATION What are the factors or what are the elements should exist in the negotiation, and what are the factors will fulfill the negotiation process is called as nature and need for negotiation. There are two or more parties - that is, two or more individuals, groups, or organizations. Although people can "negotiate' with themselves - as when someone debates whether to spend the afternoon studying, playing tennis, or going to the football game - we will discuss negotiation as an interpersonal or inter-group process

4. NATURE AND NEED FOR NEGOTIATION Conflict - Choice of interest between two or more parties that is, what one wants is not necessarily what the other one wants and the parties must, therefore, search for a way to resolve the conflict.  Choice - The parties negotiate because they think they can use some form of influence to get a better deal that way than by simply taking what the other side will voluntarily give them or let them have. Negotiation is largely a voluntary process. It is a strategy pursued by choice; seldom are we required to negotiate.

5. FACTORS AFFECTING NEGOTIATION Authority : Both the parties should have the power or authority to conclude the deal. Credibility : It comes from person’s knowledge, expertise , track record & relationships. Trust & mutual confidence are very important. Information : Negotiation often proceeds on the basis of facts, past data, future trends & outlook, empirical data & calculations. Time : Time frame within which the negotiation should be completed.

6. FACTORS AFFECTING NEGOTIATION Emotional control : Human beings are not just rational, they are also emotional. Good negotiators are aware of the play of emotions and are responsive to them. Communication skills : Negotiation is an intense process involving exchange of message. The negotiator needs to state, articulate, explain, appeal, even silent depending upon the situation.

7. STAGES OF NEGOTIATION

8. STAGES OF NEGOTIATION

9. ROLL OF PERSONALITY IN NEGOTATION A charming personality is the key to an effective negotiation. During negotiations an individual must try to be himself. One should not fake things or pretend to be good. Sincerity is one of the most important personality traits required in negotiation. One has to be sincere for an effective negotiation. Don’t take things casually. Go well prepared for your negotiation. Our dressing plays an important role in enhancing our personality. A shabbily dressed person will find it very difficult to convince the other person. Be Patient. It has been observed that impatient individuals are poor negotiators.

10. ROLL OF PERSONALITY IN NEGOTATION Be professional in your approach. Once your deal is closed, do sign a contract in presence of both the parties. Enhance your listening skills for a better negotiation. Listen to the other party as well. Be a little tactful and diplomatic. Being diplomatic does not mean being clever.

11. WHAT IS NEGOTIATION STRATEGY? A pre-determined approach or prepared plan of action to achieve a specific goal or objective to potentially find and make an agreement or contract in a negotiation with another party or parties.

12. FIVE SUCCESSFUL NEGOTIATION STRATEGIES The negotiating process is continual, not an individual event. Think positive. Prepare. Think about the best & worst outcome. Be articulate & build value. Be articulate & build value.

13. NEGOTIATION STRATEGY: SEVEN COMMON PITFALLS TO AVOID Poor Planning Thinking the Pie is Fixed Failing to Pay Attention to Your Opponent Assuming That Cross-Cultural Negotiations are Just Like "Local" Negotiations Paying Too Much Attention to Anchors Caving in Too Quickly Don't Gloat

14. THANK YOU