Negotiation: Bargaining for the Better You
The Art of Communication is the Language of Leadership. As rightly mentioned by John F. Kennedy, “Let us never negotiate out of fear. But let us never fear to negotiate.”
Negotiation is the term for the exchange of thoughts over one or more issues where a conflict exists. It is a conversation between two or more people or even parties who intend to reach a beneficial outcome over a subject and agree on matters of mutual interest while optimizing their individual utilities. Negotiation works on the negotiating policies, unlike usual arguments, as the negotiators need to understand the process and other negotiators to elevate their probability to close deals, avoid friction and gain profits through establishing relationships with the people or parties. An interaction between entities aimed to settle points of difference over a raised issue or to craft outcomes to satisfy various interests. It takes a position to put forward and concessions are made to achieve an agreement. The negotiations are successful if the conclusion is implemented, achieving the trust of negotiators.
Negotiation is a common factor, that everyone practices every day unknowingly. The degree of negotiation goes from personal situations such as marriage, divorce, or parenting to professional standards such as organizations, businesses, and between governments. Before any negotiation, preparation takes a lot. Special skills are required to present a powerful negotiation and become a better dealmaker and leader. High and potent Negotiation skills are an important aspect in terms of businesses because whether you're hammering out the details of a multimillion-dollar business deal or allocating responsibilities among your project team, you need to master the skills. Here are some strategies and skills needed to negotiate confidently and successfully building a powerful impact on the people you're negotiating with.
Strong Preparation Before The Meeting
Before setting the foot in a bargaining meeting, preparation for a skilled and professional negotiation is a must. Determining the goals, subjecting the areas for trade, and analyzing the BATNA- Best Alternative To a Negotiated Agreement, is what falls under a b preparation. A b negotiator is the one which studies the history of the relationship between the two parties and past negotiations to analyze and cultivate areas of agreement and common goals.
An Effective & Impressive Communication
One of the main topics under the subject negotiation is communication. The better and ber the communication, the better is the chance to get the deal on your side. An effective negotiator must have the ability to communicate clearly so that his desired outcome and reasoning are delivered properly. Better communication skills are very important in every field as room for misunderstanding creates very soon if the case is not clearly negotiated.
Problem Analysis And Decision Making Ability
To determine the interests of each party in the meeting is what makes a negotiator powerful in his act. The skill to first analyze a problem is a must as a detailed problem analysis identifies the issue, the interest of parties, and the outcome goals. During the bargaining meeting, when the parties disagree over an issue, this skill comes into play for identifying the issues for both sides and helps to find a compromise for both the parties reaching a final conclusion.
A skilled negotiator is expected to act decisively during a negotiation. Decision making skill is necessary to master for a successful negotiation, sometimes required to agree to a compromise quickly to end a stalemate.
Active Listening Skills
It's always considered good as well as important to listen actively to the other party during the debate. Active listening inculcates the ability to read body language as well as verbal communication. Negotiation always involves compromise during the meeting from both parties, therefore it is always important to listen to the other party. The skilled negotiator will spend more time paying attention to the party’s views instead of spending the bulk of the time presenting the virtues of his viewpoint.
Maintaining Good Relationships, Ethics, and Reliability
Maintaining a good working relationship with those involved in the negotiation is the foremost interpersonal skill every effective negotiator perceives. A positive atmosphere is a must during the ongoing difficult negotiation to reach a conclusion. It enhances the ability to be patient and persuade others without using manipulation.
Reliability and ethical standards create a healthy and trustful environment for negotiations. A true and effective negotiator must execute on his promises after bargaining ends. A right skill is required to build trust between the parties that the other party will follow through on promises and agreements.
Thus to conclude, a successful negotiation requires the two parties or individuals to come forward and hammer out an agreement that is acceptable to both. As per Dr. Varun Gupta, the key points when aiming for a Win-Win outcome include:
- Focus on maintaining the relationship: separate the people from the problem.
- Focus on interests not positions: Rather than focusing on the other side’s stated position, consider the underlying interests they might have, what are their needs, desires, and fears
- Generate a variety of options that offer gains to both parties before deciding what to do.
- Aim for the result to be based on an objective standard.
Hence a powerful negotiation is the outcome of abilities that is the mixture of interpersonal and communication skills used together to bring the desired result as summarised by the business and liasioning consultant, Dr. Varun Gupta. To know more about the experience of Dr. Varun Gupta, visit www.drvarungupta.in