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Most Effective Negotiation Skills

Most Effective Negotiation Skills

Great negotiation skills include a range of techniques that negotiators employ to create and claim value in their deal making. It is a deliberate process between two or more people that seek solution to a common issue or bartering over an item of value. It can help to make deals, solve problems, manage conflicts, build and preserve relationships. This is a method by which people settle differences.

 

 

Negotiation skills are then expected to be learned through effort. This can be achieved by joining activities, exercises or training programs. The managers need to understand the value of these skills to the company and its management team. Negotiation can increase the productivity of the employees that generates impact to the achievement of the company goals.

 

Stages of Negotiation

The right negotiation skills will allow the management team to maximize possible outcomes by effectively navigating the negotiation process. This negotiation process includes:

  1. Preparation

Preparation is the foundation of the negotiation process. You must need to know the facts and data to be used. To be able to express your needs should be rooted from the information gathered through extensive research.

  1. Exchanging Information

The information must be clearly communicated through clear mediums and tools. Should there be clarifications, do not hesitate to ask. More so, listening carefully to what the other person is saying will make negotiating easier.

  1. Bargaining

The bargaining stage the most important and crucial part of the negotiation process. It means compromising to gain or lose something of value. Both parties are expected to shape the actual deal and come up with rules, policies or terms and conditions.

  1. Closing and Commitment

Closing and commitment is the final stage in the process. It is building trust to both parties that a common goal will be achieved.

 

Negotiating Effectively

Negotiating effectively involves the understanding of the needs of the other party and not focusing on your own needs. It also means making decisions out of facts and not just out of mere emotions. Both verbal and non-verbal communication must be observed in this process to establish your credibility as a negotiator. Your words must be reflecting on your actions. Remaining calm despite pressure is a plus point too. The principle of fairness, seeking mutual benefit and maintaining a successful relationship are the keys to a desirable outcome.

 

Conclusion

Negotiators must acquire a systematic framework to analyze and understand the negotiation process. There must be a heightened awareness of strengths and weaknesses on the part of the negotiator to be able to utilize or improve it. Negotiating means learning how to create and maximize the resources to gain problem solving techniques while building relationships with other people.

However, many people dread negotiation not knowing that we actually do it every day, throughout professional and personal lives. It is also important to note that successful negotiations require two parties to come together and carry out an agreement which is acceptable to both. Without negotiation, disagreements may lead to arguments and resentment resulting in dissatisfaction of both parties.

 

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Management Square

Management Square is a service provider company specializing in Strategy Execution, Business Transformation, and Portfolio, Program and Project Management.

Our mission is to create high quality trainings through professional excellence, and to provide a consultancy of choice through extensive learning experiences.

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