Saturday, January 23, 2021

The Best Negotiation Strategies to Land a Better Deal

If you want to be equipped with the right negotiation strategies to help you get a better deal, here are the best negotiation strategies to resolve conflict and land a better deal.

Negotiation Strategies
The Best Negotiation Strategies to Land a Better Deal

What is the Definition of Negotiation?

Negotiation is a strategic discussion between two or more people or parties intended to settle differences and reach a beneficial outcome over one or more issues.

Negotiation is a dialogue between more than one party, each of whom has its own point of view, goals, and needs.

Negotiation seeks to reach an agreement that contributes to settling a case of common importance between the parties or to contribute to resolving a specific dispute.

Negotiation process relies on the exchange of a set of terms related to a specific agreement or deal, such as the private negotiation of treaties.


Types of Negotiation

There are two types of negotiation:

1. Distributive negotiations

2. Integrative negotiations


Distributive negotiations mean that there is a certain limit or quantity of the thing, as it is distributed and divided among the persons involved.

In this type, the proportions to be divided are limited and variable, as the two parties face the goal of getting the most of the thing, and this negotiation is used in simple daily matters.


Integrative negotiations need more advanced business negotiation skills than commercial negotiation skills, as it is more complex, and the word "integrative" means joining several parts to all, and here cooperation or unification of forces takes place to achieve a specific goal together. In this type, everyone usually wins a certain thing.


How to Negotiate Effectively

The negotiation process may include:

  • Create your negotiation plan.
  • Undertake preparation before discussing.
  • Gather Background Information.
  • Assess your arsenal of negotiation tactics and strategies.
  • Clarify the goals, interests, and viewpoints.
  • Engage in the negotiation process.
  • Negotiate towards a win-win outcome.
  • Avoid being provoked into an emotional response.
  • Make the agreement perfectly clear so that both sides know what has been decided.
  • Be on high alert for the conclusion of what you think.
  • Create a negotiation archive and store it in a repository.
  • Implement the work according to the proposed course.


Negotiation Strategies to Land a Better Deal

A successful negotiation depends on negotiators' use of a set of techniques. These effective negotiation techniques can benefit all professional negotiators:


Define negotiator responsibilities and duties: A negotiator has to deal with their counterpart on the other side of the table and oversee and manage the entire process. The implementation of the negotiator's duties is one of the most important processes in negotiation.

The negotiator must come to the negotiating table and is ready to participate in the negotiation. It is important to obtain data about the counterparts, that is, the parties participating in the negotiations, which will help start the negotiation process.

 

Implement a number scale: The number scale is used in negotiation process by a negotiator to measure the strength between him and his counterpart participating in the negotiation.

Examples of using number scale include placing a group of numbers from 1 to 10 and adding an expression or interpretation to each number. This technique helps in dealing directly with the counterpart in negotiation.

 

Don't focus just on "winning": Negotiation is not a type of competition because a successful negotiator should not think about defeating counterparts, but rather it is important to define goals, apply appropriate procedures and the actions required to reach them.

 

Be prepared to give something up: The willingness to offer something activates flexibility in the negotiation, as it must be understood that the negotiators will not get everything during the negotiation.

Therefore, it is important to take care of the flexibility, for example, when negotiating with a merchant to purchase a specific product, the negotiator must be willing to offer a higher price for the product.

 

Get a break: Getting a break does not mean leaving the meeting room. Rather, it is important in most cases to have a break during the negotiation, especially when a dead-end in negotiations is reached.

 

Clarify any misconceptions: It is common during negotiations not to understand something; Because all negotiation parties assume what they say to each other, which may lead to disputes between them.

 Therefore, it is important to be careful to know the special view of each party about the negotiation, and thus the negotiator can understand why he does not achieve the things he wants from his point of view.

 

Use your emotional intelligence: Using emotional intelligence is a technique that allows a negotiator to manage his or her emotions, and it also helps solve problems.

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