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Negotiation Journal - Research Paper Example

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Q.1Negotiation Strategies Negotiation refers to a dialogue between people, parties or countries with an intention to bargain for something; reach an understanding; resolve a situation; gain advantage; produce an agreement on courses of action to be taken; or create outcomes to satisfy interest of a given group or parties, which got involved in a negotiation process…
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Download file to see previous pages There are different pointers of what strategy to adopt in an impending negotiation activity. Before choosing a given strategy to use in a negotiation, it is important to consider three main factors. The first factor is extent of valuation of a product, issues or services that cause negotiation to happen. If a given party values an issue, product or service under consideration extremely than relationship, then a win-lose strategy is appropriate. In a win-lose negotiation strategy, relationship is not important and one party of the negotiation will wish to win and does not care of the other party. Win-lose strategy also applies when a party is discussing a fixed position or idea. It is applicable when a price of a product or an idea is fixed. Second factor to consider is the relationship between negotiators. If both parties perceive that they need each other after the negotiation, then win-win negotiation strategy is the most appropriate. In a win-win negotiation strategy, both parties to a negotiation must cooperate, participate or compromise part of their interest to accommodate each other. Both parties to a negotiation agree and discus mutually profitable actions to take. Consequently, both parties benefits after the negotiation. ...
Some cultures may prefer win-win strategy while others may prefer win-lose strategy. Win-win negotiation strategy is always possible. It is also one of the most preferred business negotiation strategies available. The purpose of two parties entering into a negotiation is always to benefit from one another. Therefore, it is possible to pursue win-win strategy especially when both parties can cooperate and compromise without incurring any loss. For example, a supplier may agree to reduce a price by a certain percentage and retain some substantial profits. Both parties win because a buyer saves some money and supplier builds a favourable business relationship. At times, win-lose negotiation becomes the only negotiation strategy viable. This is often applicable where a situation or price product is fixed and cannot be changed further because it will result in a loss. Therefore, there will be no room for adjustments and the other party can either agree to the terms of the situation as they are or forfeit the matter or the product altogether. Win-lose negotiation is always confrontational and each party tries to take advantage of the other party. The forty-eight laws of power can be helpful when crafting a distributive negotiation strategy and tactics. This applies when the other party to a negotiation is confrontational, short sighted, stereotype, aggressive and uncooperative. Forty-eight laws of power can be useful in disarming the other party’s uncompromising stance. However, if the other party is genuinely willing to cooperate, compromise and is interested in long-term relationship, it may not be an appropriate strategy. Therefore, negotiation strategies should be used according to the ...Download file to see next pagesRead More
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