The Art of Negotiation
Have you ever haggled with a car salesman over the price of a vehicle? Have you ever been involved in buying or selling a home? Do you ever find yourself arguing with your spouse or your children in an attempt to motivate them to do something you want? If the answer to any of these questions is yes, then consider yourself a negotiator. The fact is that everyone is a negotiator at one time or another during the course of their lives. Herb Cohen, a renowned negotiator, states it best by saying "Your real world is a giant negotiating table, and like it or not, you're a participant" (15). People who are aware of this fact and improve their negotiation skills will find themselves ahead of the game. The purpose of this paper is to examine the key ingredients involved in good negotiation. We will study why they are important and how they can be applied to negotiate more effectively. Let us first ask ourselves, what is negotiation? A common misconception is that negotiations only take place in smoke filled rooms where millions of dollars are at stake. In reality, negotiations are happening everyday and in all aspects of our lives. A negotiation can be thought of as a process to arrange for or bring about by discussion a settl
These techniques I have outlined for more effective negotiation, are best learned by putting them to use. The next time you are involved in a negotiation, be sure to approach the situation armed with information. Know your BANTA's and know everything possible about the other side. Be sure to have a good understanding of your limits and goals for the negotiation. During the negotiation, keep an emotional distance and be a good listener. Ultimately, by using this process, you will negotiate with a higher level of comfort and confidence. During the preparation process, you will also need to determine what alternatives are available to you. This is known in the negotiating world as the BATNA, or Best Alternative to a Negotiated Agreement. You should prepare a written list of alternative scenarios, in case you are unable to come to an acceptable agreement with the other side. Explore your BATNA's thoroughly and become comfortable with the idea that you can walk away from the current negotiations at any time and settle for your next best alternative. Knowing your BATNA's will help you to keep a level head during the negotiation process. Donaldson, Michael C., and Mimi Donaldson. Negotiating for Dummies. Foster City: IDG Books, 1996 In order to be a good negotiator, one must be a good listener. Many times people are so eager to make their demands known that they fail to hear what the other side is saying. A good negotiator must remember that a negotiation is not a one-way street, but a meeting of the minds in order to come to a mutual decision that serves the needs and wants of both sides. What better way to know the needs and wants of the other side than to simply listen to what they are saying? Being a good listener means always letting the other person finish their thought before responding. Furthermore, always respond to the points they have raised before moving on. Also, ask questions of the other person in order to obtain a better understanding of their meaning. Another technique for clarifying is to restate or paraphrase what the other person has just said. This not only confirms meaning b
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Approximate Word count = 1434
Approximate Pages = 6 (250 words per page double spaced)
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