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The Art Of Business Negotiating

What Is Negotiating

When two or more individuals are trying to resolve a conflict or reach some sort of agreement were all or some of the parties involved benefit from the agreement reached this is called a negotiation. In a business setting when individuals are negotiating it is usually between two entities and the agreement reached in most circumstances do benefit both parties who are involved in the dialogue. Negotiations occur in many different settings and for many different reasons. You have people negotiations which occur during events like marriage, divorce, and sometimes in the case of parenting. Then you have entity negotiations which occurs between organizations, businesses, and governments.

The Importance Of Good Business Negotiation

When it comes to business negotiation skills are very important and needed in a variety of different areas. In business negotiation skills are needed in day-to-day operations in both formal and informal situations. When a businessman or a salesperson is negotiating in a business setting. They must keep in mind that they do not want to come up on the short end of the negotiation and only a mutually acceptable solution should be sought after. The following are some normal business negotiations that can occur in a business on a daily basis they are sales negotiations, contract negotiation, service negotiations, and rental or lease negotiations. If business owners or salesman negotiate effectively it can lead to many positive things such as future business relationships, faster solutions or problem-solving, and help avoid any future mishaps.

The Skills Needed For Negotiation

There are many different skills needed when it comes to negotiation and some of these skills do not come naturally. This is why for some businessman, salesman, or sales teams negotiations training is needed to get the required skills for successful negotiation tactics. There are three skills that a good negotiator needs and they are strong written skills, strong verbal skills, and strong nonverbal skills. A good negotiator is not shy, is confident, and communicates in a very assertive way. The following are key traits that good business negotiators has and they are flexibility, they are good communicators, they are creative, they are win-win oriented, they are good planners, and they are honest.

How To Improve Negotiation Skills

In order for businessman, salesman, and a salesforce to improve in the areas of negotiation they must learn from past negotiation and mistakes. They must constantly try to improve on their bargaining skills and they must avoid any conflict of interest when negotiating. The individual must control their emotions and not get too emotional during a negotiation. The businessman or salesman should always practice negotiations buy role playing with a co-worker or significant other. They can also use negotiation exercises which can be purchased or found for free on the web.

The Different Negotiating Strategies

There are five different negotiation strategies that business professional or salesman can use. The usage of each of these negotiation strategies depend on the situation that the strategy will be used in. The five negotiation strategies are inaction, problem solving, compromising, contending, and yielding. The inaction negotiation strategy is used when the individual is gathering more information and buying time to think about a proposal. The problem solving negotiation strategy is when the individual is examining and discussing any issues that they have with an agreement. The compromising negotiation strategy is when neither party gets exactly what they want at the negotiating table but both agree to an outcome that somewhat benefits them both for the final negotiations. The contending negotiator strategy is when the negotiator is trying to get the individual who they are negotiating with to overcome to their terms. The yielding negotiation strategy is only used during an ongoing negotiation process.
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2019-10-10 11:34:59, views: 2026, Comments: 0
   
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