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Negotiation Skills for Managers - Research Paper Example

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Negotiation Skills for Managers Negotiation Skills for Managers “Business negotiation is the process by which typically two or more parties come together to try to create a mutually agreeable contractual decision” (What is Negotiation?, n.d). Each party may have some kind of self-interests which he may try to protect through the negotiation process…
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Download file to see previous pages 2006, p.3). For example, a sales manager and his clients may have contrasting interests. Clients always like to get the job done as cheaply as possible whereas the manager would like to get that job for a price as higher as possible. A compromise is necessary between the manager and his client in order to protect mutual interests as much as possible and for that purpose negotiation is a must. Since sales is a profession in which negotiation takes place quiet frequently, I decided to interview a car salesman of a Toyota dealership in order to get more awareness about various aspects of business negotiations. This paper is written based on the interview I conducted with that Toyota car salesman. My own perspectives of negotiation In my opinion, various types of negotiations occur every day in our life. However, in business world, negotiation occurs between an organization and its clients, organization and its employees, organization and its suppliers, organization and communities in which it operates. However, negotiations between the sellers and buyers are more common in the business world. The seller wants to sell his product for maximum prices whereas the buyer would like to purchase things for minimum prices. Since these two motives are traveling in opposite directions, negotiation is the only way to settle the issues between the sellers and buyers. In short, better deal is the major motive behind every business negotiation. It is not necessary that all negotiation process may end up in victories or failures. In certain cases, both the parties may sacrifice many of their interests to get the work done. Characteristics of business negotiations As per the opinions of the car salesman I interviewed, negotiations can be classified into two different groups; 1) Negotiations that end up in the victory of one party and the failure of the other party 2) Negotiations that end up in victory to both the parties. He has labeled these negotiations as distributive (win-lose) and integrative (win-win). He has pointed out that a win-win or integrative negotiation is always desirable as both the parties may get some benefits out of the negotiation process. Distributive or win-lose negotiations may end up in the victory of only one party at the expense of the other. I asked him about the type of negotiation usually he undertakes and the reasons for that. He has told me that majority of the times he will go for integrative negotiations and only at the unavoidable circumstances; he will go for the distributive type of bargaining. In his opinion, business concepts are changing rapidly. Business management principles in the past and at present are entirely different. Earlier, sales people concentrated more on selling the goods at any cost. They used all positive and negative tactics to sell the product in the past. In other words, the intentions of a salesman in the past were to conduct only distributive negotiations in which the ultimate winner would be the salesman. As a result of such distributive negotiations, many companies lost their customer base as cheated customers or the losing customers started to look for other options. He has mentioned that as per the modern business principles, retaining of the customers is as important as attracting a new customer and therefore ...Download file to see next pagesRead More
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