NEGOTIATION

NEGOTIATION Is the process in which two or more individuals or groups, having both common and conflicting goals, state and discuss proposals for specific terms of a possible argument. Is the process in which two or more individuals or groups, having both common and conflicting goals, state and discuss proposals for specific terms of a possible argument. It normally occurs between companies, groups and individuals because one has something the other wants and is willing to bargain to get it. It normally occurs between companies, groups and individuals because one has something the other wants and is willing to bargain to get it.

COMMUNICATION & NEGOTIATION Clear communication is the key to effective negotiation. Clear communication is the key to effective negotiation. All the three important skills- listening, understanding and speaking- are vital in negotiating effectively. All the three important skills- listening, understanding and speaking- are vital in negotiating effectively.

APPROACHES TO NEGOTIATION 1. Integrative ( Collaborative or Win- Win) 2. Distributive ( Competitive or Win- Lose) 3. Mixed approach or Draw

OPTIONS LOSE-LOSE: take the cake away so neither party gets it. LOSE-LOSE: take the cake away so neither party gets it. WIN-LOSE: give it to one party or cut in unevenly WIN-LOSE: give it to one party or cut in unevenly DRAW: cut the cake down the middle. DRAW: cut the cake down the middle. WIN-WIN: make two cakes or a much larger one. WIN-WIN: make two cakes or a much larger one.

6 STEPS OF NEGOTIATION Getting to know one another Getting to know one another Statement of goals and objectives Statement of goals and objectives Starting the process Starting the process Expressions of disagreement and conflict Expressions of disagreement and conflict Reassessment and compromise Reassessment and compromise Agreement in principle or settlement Agreement in principle or settlement

GUIDELINES for successful negotiation Set up your goals Set up your goals Genuinely communicate your own strengths Genuinely communicate your own strengths Pick the right moment Pick the right moment Be fair and objective Be fair and objective Listen attentively, ask questions and summarize Listen attentively, ask questions and summarize Visualize your arguments Visualize your arguments Dealing with defeat Dealing with defeat Confirmation and summary. Confirmation and summary.

NEVER, in the heat of the moment, create a LOSE-LOSE situation. NEVER, in the heat of the moment, create a LOSE-LOSE situation. Avoid a WIN-LOSE situation wherever you can. Avoid a WIN-LOSE situation wherever you can. Accept nothing less than a DRAW. Accept nothing less than a DRAW. Aim at a WIN-WIN solution. Aim at a WIN-WIN solution.