Negotiation Skills Course Objectives Explain What is Negotiation

Negotiation Skills -

Course Objectives • • • • Explain What is Negotiation Explain the Basic Principles of Negotiation Describe the Benefits of Negotiation Explain the Types of Negotiation Strategies Explain the Stages of the Negotiation Process Describe the Concepts of a Win-Win Negotiation Explain the Various Styles of Negotiation Explain What is BATNA Describe Strategies for Developing Negotiation Skills Explain the Types of Third Party Explain the PROBE Technique for Negotiating Describe the Negotiations in Organizations List the Issues in Negotiation List the Characteristics of a Good Negotiator List the Tips for Effective Negotiation

Introduction Globus Inc. is a leading IT giant. Peter Looney is a Project Manager in Globus Inc. He is responsible for meeting the clients for every new software development project that comes to Globus.

Introduction Maxwell Telecommunications, a leading Telecom Service company recently came to Globus to have new SAP based database software to be developed for them.

Introduction Peter carefully reviewed analyzed Maxwell’s requirements and came up with a Project Plan.

Introduction Now, the only thing that Peter needed to go ahead with starting the project and develop the software was the client’s approval of the Project Plan.

Introduction Peter held a meeting with the clients to discuss the Project Plan and gain overall approval for the terms and conditions of the Project.

Introduction The client was in a hurry to get the software. Peter tried to negotiate upon broader deadlines but due to client’s pressure, he ultimately agreed to finish the project as per their requested deadlines.

What is Negotiation? • Negotiation is a discussion between two parties to find out the solution and for the purpose of reaching a joint agreement about differing needs or opinions. • It involves using the art of ‘persuasion’ to get others to understand agree with your viewpoint. It works best when an individual has a win-win attitude.

Need for Negotiation e. m a s al ctly u a d x i e v i d re nt n a e i r e y e l r f p f di eo eve n p i d o n y l s, a t w t n n h c e a r a No t w e ds, re, e aves diff e o e f e n r t nce n h e e r e The r e b f e f f d i s dif s basic d s an a k h n i d h t thi s an e. s to i n m t o e i i I s t t i. r a s o e-t situ ves aim i m g d i t t n a a m s th belief n people conflict fro ee d ach e betw ement an h t i tw s re i x g e a l as s l i o e d c w y l s tual ssional a u se m e o h t e t f , t r o tha , pr ove l t e a n r n a o t o r be M rs o d l e p u p m o i t a is sh other s level, it eements gr es busin s and disa ct confli d. e resolv

Basic Principles of Negotiation There a few common basic principles that apply to all types of negotiations and in all situations. Some of the basic principles of negotiation are as follows: There a lways at least ‘two p arties’ involved an y negotiation process. , the n o i t a i t o g In any ne are at h s s e i t r a two p mmon o c e m o s least the n i r e h t i e interest, r or in e t t a m t c subje iating t o g e n e h t brings t a h t t x e cont ties r a p e h t both in a together n. negotiatio The initiatio n of any negotiation always results due to different opinions an d objective s of the two parties whi ch hinders the outcome in general.

The Art of Negotiation is an art; you can get better and better with it. If you feel that you don’t have an innate talent for negotiations, don’t be disappointed because these skills can be honed and developed with the proper training and practice. People who always speak good things may feel that they are good negotiators, but that is not always the case. Negotiation is all about understanding what you want and what the other person wants, and then coming up with a win-win scenario.

Inquiry 2 Inquiry: • The second stage of the negotiation process is the stage of inquiry. • During the inquiry stage, both parties exchange information and discuss their concerns. • The main objective of this stage is to ascertain the strengths and weaknesses, needs, wants, desires and issues.

Real Life Example Stage 1: Meeting Stage 5: Acceptance Stage 4: Closure Stage 3: Bargaining Stage 2: Inquiry Stage 1: Meeting To negotiate well with the client, the first thing that Peter should do is to prepare well for the meeting. Peter could go through the Project Plans of similar projects that Globus had handled in the past, talk to and seek guidance from his superiors and put all the data and information that he gets related to the project at one place.

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