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Negotiation and Decision Making Strategy - Essay Example

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My company, ABC Ltd., is an import/export business located in Phoenix, Arizona. Business has been very good over the past two quarters, so it is time to negotiate a lease on a larger warehouse facility. This is the negotiation plan for that project.
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Negotiation and Decision Making Strategy
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Download file to see previous pages is enjoying increased sales but along with that success comes the need to obtain additional warehouse space. In this market, competition is fierce among those on the waiting list, and the rates are high. Financial issues include signing premiums, common area maintenance (CAM) charges, and term commitments of at least one year. The company has been notified that there is an opening at the industrial sight where it has been on the waiting list for several months. The property management company will be attempting to obtain the highest lease rate for the longest possible term, with as many add-on charges as possible. The goal of this negotiation will be to obtain the needed space without overpaying on the lease itself, reduce the amounts of any extra charges, and obtain a lease term that is long enough to satisfy the property management company without locking ABC Ltd. into space it may outgrow in the next seven years. The negotiation will take place in the conference room at the management company's corporate headquarters, with the Commercial Division Manager, Ms. Fuentes.
1. Body Language - In terms of aiding or hindering communication, body language can be a very powerful. The improper use of eye contact, body positioning and other nonverbal cues can cause the other party to think that you are not listening, don't agree, or are disinterested.
2. 2. Vocal Delivery - Successful communication is not just about what you say, but how you say it as well. There are many lists of phrases or attitudes that block communication, including things like being rude, patronizing, or sarcastic. The bottom line is to communicate understanding and a cooperative attitude.
3. Stress - In any negotiation, individual stress can cause communication to be misinterpreted or not received at all. It is very important that an individual be calm and not suffer anxiety during the course of a negotiation so that he or she can truly hear what the other side is saying and form the appropriate connection that leads to a successful conclusion.
4. My Actions - In this negotiation with the property management company, it will be important that I form a good connection with Ms. Fuentes. I am ultimately going to be trying to emerge with an equitable arrangement that meets her client's needs as well as that of my own company. To accomplish this goal, I will need to demonstrate that I am an effective and engaged communicator and avoid giving negative impressions that block the process.
A. I will use nonverbal techniques to demonstrate that I am very interested in what Ms. Fuentes has to say. The techniques I will use will include frequent eye contact with her as we are speaking, facially responding to the points that she makes so as to encourage an open and amicable environment, leaning into the table towards her when I am speaking or when she is making a particularly important point, and allowing comfortable silences to happen so that I don't communicate too much intensity.
B. I will use verbal techniques to encourage the discussion, while avoiding the communication blockers of which I am aware. ...Download file to see next pagesRead More
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