Contract Negotiations - Research Paper Example

Finally, the conclusion will sum up the thesis as well as the findings. A contract is a lawful agreement involving two or more parties. This means that contract negotiation is a process of talking about the stipulations of the agreement to reach a specified goal. Before attempting to negotiate a contract, one need to identify the main objectives for entering into the agreement, research on the present contract laws, build trust with the negotiators, and prepare for the entire negotiation by getting important figures and facts.

Contract negotiators have immense skills and knowledge that help them to acquire a more appropriate and constructive contract for their clients (Garrett, 2005, pp. 18-21). Therefore, under the theoretical foundation, this treatise aims at describing the main areas of knowledge and skills that are important to ensuring success of a contract negotiator. It also details one strategy that an effective negotiator ought to consider to achieve a favorable contract. In addition, under the discussion part, relevant implications in regard to contract negotiation will be analyzed.

This discourse concludes that effective communication, critical thinking, active listening, legal and technical understanding, management, and social perceptiveness are some of the skills and knowledge that are required to guarantee a constructive contract. Research shows that the main job of a contract negotiator is to maximize value for their employers. Therefore, they need to be highly competent and possess particular skills and knowledge that are in accordance to their line of work. For instance, one of the main qualifications that they need to have to ensure a favorable contract is impeccable communication skills.

This means that they must effectively articulate the needs of the organization and be in a position to win more clients. Moreover, they need to have a rich ground for knowledge and be critical thinkers. In that