negotiation Flashcards
(31 cards)
is the process of conferring to arrive at an Agreement Between different parties ,each with their own interest and Preferences.
Negotiation
A give and take decision making process involving interdependent parties with different Preferences.
Negotiation
Four Principles of Best Practice Negotiation
: understanding the issues and the people and equipping the team for the process
Preparation
Four Principles of Best Practice Negotiation
developing a strategy for maintaining the ——– before, during and after negotiations
Relationship
Four Principles of Best Practice Negotiation
building trust by applying an open ——- style
Communication
Four Principles of Best Practice Negotiation
exploring options and strategies for reaching agreement
Problem-solving
Features Of Negotiation?
- Two Parties
- Predetermined Goals
- Expecting an Outcome
- Parties willing to modify their Positions
- Parties should understand the purpose of their negotiation
Reasons For Negotiation
- To Reach An Agreement
- To Make A Point
- To Settle An Argument
- To Compromise
- To Beat The Opposition
Types Of Negotiation
- DISTRIBUTIVE NEGOTIATION
- INTEGRATIVE NEGOTIATION
- feature is that it operates under a zero sum game
- The gain made by one person is loss incurred by the other person.
- Win –Lose Situation
Distributive Negotiation
- Parties cooperate to achieve maximize benefits by integrating their interests
- Both parties involved in negotiation process jointly look at the problem, try to search for alternatives and try to evaluate them and reach a mutually acceptable decision or solution.
- Win-Win Situation
Integrative Negotiation
Four Steps To Achieving A Successful Negotiation
- Do the benefits of engaging in this negotiation outweigh the costs?
- Can you have influence in this situation?
- What is the price you are willing to pay to avoid negotiating ?
Assess
Four Steps To Achieving A Successful Negotiation
- What are your interests in this negotiation?
- What are the interests of your counterpart?
Prepare
Four Steps To Achieving A Successful Negotiation
- Engage with your counterpart.
- You have unique information your counterpart needs.
- Your conversations with your counterparts give you the opportunity to share this information as well as listen to their perspective.
Ask
Four Steps To Achieving A Successful Negotiation
- Make proposals that package together issues and solutions. Start with the results you can deliver to your counterparts, your team, or your organization.
- Do not negotiate issue by issue. “if/then” statements as a tool to present your “Ask.”
Package
Three Questions To Prepare Before Entering Into A Negotiation?
- Why are you asking?
- How are you asking?
- For whom are you asking?
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Profile of a Negotiator part 1
- Negotiation consciousness
- Listening
- The ability to ask good questions
- High aspirations
- Patience
Profile of a Negotiator part 2
- Flexibility
- Focus on satisfaction
- Willingness to take risks
- Solving the problem
- Willingness to walk away
Negotiation’s 4 Outcomes
- Neither party achieves their needs or wants
e.g. exercise exclusive option sponsored research
Lose-Lose
- One party makes outstanding gains while the other one loses out
Win-Lose, Lose-Win
- Parties are not able to come to terms that they can agree upon
- Not always a bad thing; better not to do a deal than to do a bad deal
No Outcome
The needs and goals of each party are met
Win-Win
Three keys to creating a win-win outcome:
- Avoid narrowing the negotiation down to one issue
- Realize your counterpart does not have the same needs and wants you do
- Do not assume you know your counterpart’s needs
- Maximum position is the best outcome to negotiations
- Goal position is the outcome in which you are satisfied you got a deal that is reasonable for the technology
- Minimum position is your bottom line. If numbers are discussed below this point you are willing to walk away
Know your targets
