1. Negotiation Tactics

2. Vocabulary Dispute: A disagreement, argument, or debate.
Arbitration: A process in which a disagreement between two or more parties is resolved by impartial individuals, called arbitrators.
Mutually: Having the same relationship each to the other.
Bargaining: Negotiate the terms and conditions of a transaction.
Compromise: An agreement or a settlement of a dispute that is reached by each side making concessions.

3. What is Negotiation?
Negotiation is trying to reach an agreement or compromise by discussion with others.

4. TIPS FOR NEGOTIATION Prepare ahead of time Have confidence you can win
Listen to the other person
Find opportunities for agreement
Don’t become angry
Reference expert opinion

5. COMMON NEGOTIATING MISTAKES
  LACKING CONFIDENCE
ASSUMING THAT SOMETHING IS NON-NEGOTIABLE
NOT BUILDING RELATIONSHIPS FIRST
NOT ASKING
TALKING TOO MUCH

6. Situation 1
Your neighbor is selling his car. You are really interested in buying it, but you want to negotiate the price. How do you use the following negotiation tactics?
Better Offer: Indicate a better offer from the competition.
Change the Negotiator: A new person can reset the rules.
Deadlines: Push them up against the wall of time.
Empty Pockets: Say you can't afford it, don't have it, etc

7. Situation 2
Your company wants to renovate its premises. You are chosen to negotiate the price with the renovation company. How do you use the following negotiation tactics?
Flattery: Make them look good and then ask for concession
Hire an Expert: Get an expert negotiator or subject expert on your team.
Slicing: Break one deal down into multiple smaller deals.
Split the difference: Offer to agree on a half-way position.

8. What would you do if…..
A client walks into your office and is exceedingly angry and difficult to talk to. How do you approach your client to make your meeting as productive as possible?
A. You suggest that you both take a break and wait for your client to cool off.
B. In a stern voice, remind your client that there is an appropriate manner in which to speak to professionals and you expect to be treated accordingly.
C. Reschedule the meeting.
D. Push forward with the meeting and make the best of the situation.
E. Acknowledge that they are upset and ask them what is bothering them.
Answer – E
When your client is grumpy, their emotions will inevitably cloud their judgment and make it difficult for you to interact with them on substantive matters. At the same time, if they are experiencing anger, it is important for you to validate for them that you understand that they are upset. By acknowledging your client's anger and offering your assistance, your client will feel as though you are on the "same side" and treat you as a friend and continue to direct their anger elsewhere- allowing you to focus on the substantive issues at hand.

9. What would you do if…..
You are negotiating a major purchase, such as a car or a house, and the sales agent suggests a price far above your anticipated purchase price. How do you address the agent in order to get the best price?
A. Respond with a low price and engage in positional bargaining, hoping that you will end up somewhere in the price range you think is fair.
B. Ask what the basis for their suggested price is.
C. Advise the sales agent that their price is far too high and that you will walk away unless they give you a more reasonable price.
D. Suggest a price of your own and provide the criteria upon which you have arrived at the price.
E. None of the above.
Correct Answers: (b) and (d)
The sales agent is trying to get you started on the traditional positional bargaining philosophy of "start high, counter low, end up in the middle." To avoid this game, you need to change the focus of the negotiations. In order to counter their attempts at positional bargaining, you should begin by asking them what the basis for their initial price was. This tactic will draw attention away from the initial price and create a focus on the criteria for determining a fair price. Next, you should suggest a price of your own, substantiate the offer with appropriate criteria and stick to your offer. 

10. What would you do if…..
You are having trouble communicating effectively with your boss. She seems to be picking on you, in particular, and you don't know why. You are getting increasingly unhappy with the situation, so you:
A. Address the issue directly by asking your boss why she is always singling you out for criticism.
B. Address the issue directly by politely telling your boss that you feel as though you have been singled out for criticism lately and ask her if there is something in particular about your performance of which you need to be made aware.
C. Seek out a job offer from a competitor and tell your boss that you will leave unless you are treated with greater respect.
D. Draft a letter explaining what you believe your job responsibilities are and ask your boss if your assumptions are accurate and, if not, what you have missed.
Correct Answer: (a)
One of the most powerful tools in negotiation is how you listen to what the other party is saying. Very often, we are too focused on the points we are trying to get across to be able to listen to what our counterparts are trying to say. If your significant other is repeating themselves, they are subconsciously sending you a signal that they feel that what they are saying is important and they want you to acknowledge that you have heard and understand them. This is especially true if you are having the same argument over and over again. In personal relationships, in particular, we tend to set aside our differences without actually resolving them- which is why the argument keeps repeating itself. The best thing to do in this situation is to rephrase what they keep repeating and ask them if you have accurately restated their point. Once they feel as though they have been heard, only then will they be able to listen to you. Once both parties have actually heard and understood each other, you will both then be able to talk with each other instead of at each other.

11. What would you do if…..
You have been seeking greater responsibility at work for quite a while and a position just opened up at your company that you think would be perfect for you. While you are confident you can do the job, you lack one of the credentials required for the position. How do you recommend yourself for the position?
A. Point out the benefits to the company of letting you fill the position, such as the fact that you are a known quantity, you are familiar with the company, and they would save both time and money on recruiting.
B. Seek out a competing offer and threaten to quit unless they offer you the position.
C. Offer to do the job at no salary increase for a probationary period of 3 to 6 months.
D. Apply for the position through normal channels and make your pitch during the interview process.
Corrects Answer: (a) and (c)
The #1 rule in negotiating is: "You never know until you ask."
The #1 question in negotiating, therefore, is: "What's the best way to ask?"
As consultants in negotiations and effective communication, we have seen countless individuals and organizations lose ENORMOUS value in their lives, businesses and goals either because of a failure to pursue a potential opportunity or because they don't know HOW to pursue an opportunity. In this case, you lose little to nothing by seeking to secure the promotion that you are probably at least as qualified for as anyone else.
As is the case with many other situations, when people set standards for a position, it is almost always a set of aspirations- not requirements. They may say it is "required" for the position but, in reality, they are not looking for someone with a degree- they are looking for the person who will DO THE JOB in the best way. In this case you have to convince them that what is best for you is also best for them. That means that you have to first tell them how they will benefit, benefit, benefit from hiring you and not someone else. The second thing you have to do is reverse the risk- by agreeing to take on the extra work without the extra salary for a probationary, they have nothing left to lose by giving you a try. This is your best-case scenario: You get the job before anyone else even has a chance to apply! Then the only thing left for you to do is a great job!
HOME – ASSIGNMENT
1)Give synonym : Opportunity
2) Give antonym : Confidence
3) Give meaning :
a) Negotiation b) Tactics c) Criteria d) Lacking
4) Make a sentence using below word :
a) Dispute b) Mutually c) Compromise