Negotiation in Business Essay

Negotiation is a fundamental form of dispute resolution involving two or more parties (Michelle, M.2003). Negotiations can also take place in order to avoid any future disputes. It can be either an interpersonal or inter-group process. Negotiations can occur at international or corporate level and also at a personal level. Negotiations often involve give and take acknowledging that there is interdependence between the disputants to some extent to achieve the goal. This means that negotiations only arise when the goals cannot be achieved independently (Lewicki and Saunders et al., 1997). Interdependence means the both parties can influence the outcome for the other party and vice versa. The negotiations can be win-lose or win-win in nature.

Negotiation is a fundamental process used in resolving conflicts, making business deals, and in managing working relationships with others. Negotiations occur for two reasons: (1) to resolve a problem or dispute between parties, or (2) to create something new that neither party could do on its own.

Negotiation is one important part of both the professional and personal life in our everyday situations. It is critical for people to resolve disputes, distribute limited resources, and/or create something new that neither party could achieve on his or her own. Negotiations can range from coordinating project timelines with clients to asking for a raise to discussing holiday plans with family members.

Kozicki (1993, pp. xiii - xiv) views negotiation is a simple procedure that basically a solution of two sides sitting down to reach a mutually satisfying agreement, and sees negotiation as being the art of reaching an agreement by

One way I see to creating more of a win-win negotiation is to determine whether our goals can be connected to the business goals of the other party. The more we know about their aims, the more we will be able to put together settlement packages that better address the business goals and priorities of both parties. When we know what's important to the other party, we can build a beneficial and productive agreement that: doesn't leave value on the table, utilizes our resources to the advantage of both parties,

What I aimed for in my negotiation was to build a positive relationship. I realised that showing empathy would be beneficial so I initiated conversations about their family and workload, thereby fostering a friendly and relaxed atmosphere. Moreover, I wanted to demonstrate compassion thus I voiced my awareness of the difficulties we caused them. I emphasised on the benefits of remaining with us and reminded them about the concessions we had already made. By establishing a rapport with them, I succeeded in re-gaining the opponents trust in the company and not only persuaded them to stay but also created a promising outlook for our future contracts.

Every negotiation starts with a process followed by a strategy because without either, then it would be just a disagreement with any kind of resolution to the issue. Making sure that you get what you set out for is important but does not necessarily mean that the other person has to lose in the negotiation so making sure to go through the process and then coming up with a strategy ensures that all parties come out with a win-win rather than a win-lose negotiation.

Negotiating is a very useful tool to use when trying to come up with a resolution to a conflict. It makes so that both sides come to an agreement, whether it is meeting in the middle or approaching the situation in a different way. An important thing in negotiation is to figure out what each person is looking to get out of the situation and try to find a solution meeting each of those needs.

Negotiation has about six stages: preparation, discussion, clarification of goals, negotiate towards a win-win outcome, agreement, and implementation. When you prepare, you need to have all your facts strait in order to make a compelling argument. In discussion, each side clarifies their point of view. During clarification it is helpful to list each sides factors based on priority. The focus in negotiation is to find an alternative that is favorable to both sides. In order to reach an agreement, both sides viewpoints and interests need to be understood, then a course of action can be implemented. It is important to not become defensive when negotiating and to remember that you are not the only one with needs to be met. Found at:

Negotiation is the route in which two individuals or businesses go through in order to reach an outcome or result that is mutually beneficial, this is usually done through either compromise or agreement. Negotiation can be used when a business is buying/selling products/services staffing or compiling contracts. Businesses will try to get the best outcome for themselves, however it is important to be able to compromise or give and take as occasionally a deal could be lost as the business has stood firm. All businesses will need to negotiate at some point, without negotiation discontent or conflict may occur, and the main reason negotiation is used is to avoid this, and to

A simple solution is to add resources expand the pie in such a way that both sides can achieve their objectives. For example, if the organization could lease offices each downtown and within the suburbs to serve each sets of its purchasers. A projected enlargement of the business may purchase each leases. In increasing the pie, one party needs no info concerning the opposite party except her interests; it's easy thanks to solve resource shortage issues. Additionally, the approach assumes that merely enlarging the resources can solve the matter. Thus, leasing each location would be a awfully satisfactory answer if Alex and John liked each locations and wished to expand their business.

Analyze how each party comes to GRIP with the negotiation challenge and what each party’s overall strategy might be.

Negotiating is a practice that allows for two sides to reach common ground and agree upon a specific settlement or transaction. During this at times complicated process, the bargaining sides develop a measure together to move forward in their business process. As a lead negotiator of a small firm, the research and analysis of the sought after contract has to be thoroughly conveyed to the U.S. Government. The small business’s negotiating team should be very familiar with the federal negotiating team and all that the federal government is expecting from the product they desire. As there are hundreds of competitors out there, it is safe to assume that there are multiple products out there. However, the negotiating firm of the small business must use different negotiating gambits and pay particular attention to the body language and examine the language used during the entire process.

An effective negotiator is a strategic negotiator, who is able to switch back and forth between different phases of a negotiation without losing the goal in mind. An effective negotiator takes time to process what is happening during the negotiation and ensures that the right problem is being resolved while taking into consideration other party’s intrests to finding a common ground. Concequently those type of actions facilitate in the process of a negotiation by creating a cooperative environment and enhance the furture relationship between the parties (Fells 2012; Sebenius 2001). An effective negotiator aknowledges that no party is the same and as every negotiation, every negotiator is different from one another. These variations explain the DNA of negotiation that requires an effective negotiator to take into considerations the strands of the DNA, such as “reciprocity, trust, power, information exchange, ethics, and outcome” that vary from person to person (Fells 2012, pg 8).

In life there is always some type of give and take amongst others. Some exchange may be beneficial and some can be regretful. This is all the same with negotiation, either is to negotiate a divorces decree, price of a new home, or a NFL or NBA contract deal. The world today is full of negotiating situation in and can be executed at any given time. There two common characteristic of a negotiation or bargaining situation. Negotiating parties have separate but conflicting interest.