NEGOTIATION

SKILLS

BUSINESS COMMUNICATION - II

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The Negotiators by:

Chandan Kumar Riya Biswas Tanushree Poorva Uditha Dilip Narayanan K
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Introduction to Negotiation
Negotiation: It is the process of working together to arrive at a mutually acceptable resolution. We negotiate with our parents, to senior managers usually to express our point of view. Involves: Parties (two or more) Issues, transactions, contracts, deals Human interaction Decision making

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Qualities of a good Negotiator

Should improve, maintain the relationship.

Ability to express thoughts.

Aware of the process of other person. Talks about possible areas of agreement. Good preparation and planning skill. Should be a good listener.

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Types of Negotiation
Distributive Negotiation It is when two (or more) parties are trying to claim the maximum amount of value for themselves. (e.g..) Like going to a shop and gaining the maximum advantage. Integrative Negotiation It is often referred to as 'win-win' and typically entails two or more issues to be negotiated. (e.g..) Company is offering a discount on a product and gaining larger market share.
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 The advocate's approach A third person will usually negotiate in behalf of the concerned person. This negotiation always ends in win-lose situation. Both the parties fight for their maximum share. (e.g..) The happenings in the court. Accommodating Avoiding Collaborating Competing Compromising

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Barriers to negotiations
Die hard negotiators.
Lack of trust. Lack of information. Cultural and gender differences. Communication problems.

No satisfaction.

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7 Pillars of Negotiation
Relationship Interests Creativity Fairness Commitment Communication BATNA (Best alternative to a negotiated agreement)

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BATNA..?
BATNA : The best alternative to a negotiated agreement. It is the course of action that will be taken by a party if the current negotiation fails and an agreement cannot be reached. (e.g..) We go for an electronic shop in Palika Bazaar, we argue for a music system of Bosch, when it fails we go for Sony.

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Factors to be consider
The cost Alternatives Feasibility Impact Consequences Information

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Important aspects of Negotiations

Clarify your product Whats your BATNA ? Know the subject of negotiation Know the parties involved Know what you can deliver Express your thoughts in right time If fails, negotiate further or move on

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Stages of Negotiation
PREPATION

PROPOSAL

DEBATING

BARGAINING

CLOSING
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Negotiation Etiquette
Communicate your own strength Pick the right moment Be fair and objective Listen attentively, ask questions, repeat and summaries Visualize your arguments Use clever phrases

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Questions..

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