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Negotiation in Management - Essay Example

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This will enable a person to remain on the right path during negotiations. Failure to establish clear bottom-line can be detrimental at…
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Negotiation in Management
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Download file to see previous pages Respecting the negotiation process: one should learn about all the aspects of the negotiation and respect the rules of the process. Lack of respect for negotiation process often lead to break down of negotiation processes.
Pursue commonalities: one should look for aspects of the negotiation in which both parties have common interest. Finding common interest will keep both parties to the negotiation bonded as they seek for a win-win outcome.
Know when to quit the negotiation: One should set tolerance limit upon which he or she quits the negotiations if the tolerance level is reached. If the negotiations direction seems to be going beyond the limits, one should quit the negotiation.
Alternative: this is where a party to the negotiation lowers his or her expectation after establishing that it will not adversely affect negotiation objectives. For example, when a person accepts to a lower price provided the other party will incur the cost of delivering the goods to the warehouse.
Ultimatum or else: this technique is used to compel the other negotiation party to make their final decision on an offer. If the other party fails to make a response, the offering party quits the negotiation.
Study 2: was a study on Carnegie Mellon Master’s degree graduates’ initial salaries. Men had higher initial salaries compared to their female counterparts. More males than females negotiated their salaries.
Bargaining: this involves extensive display of negotiation styles and tactics as each party seeks to establish an advantageous position. It involves focusing on interests of all parties, recognizing personal triggers, and play towards achieving a win-win ...Download file to see next pagesRead More
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