NEGOTIATION SKILL

Negotiation Skill

Negotiation Skills

Introduction

Negotiation is one of the key aspects of conducting business successfully. When you tend to explain the term negotiation it is a dialogue between two people or more specifically between two parties to agree upon a point which is considered harmless or acceptable between both the parties.

The social interpretation of negotiation can be exemplified in many aspects and cases of life. A husband and a wife negotiates their terms of life when they are bond into the relationship of marriage. A defendant often negotiates with the plaintiff in which both feel comfortable to an extent. In terms of business negotiations are a daily routine from purchasing to selling to recruiting new employees all actions are negotiated to a point.

A company when hires a new employee it negotiates his salary to a point in which they consider they have won. In cases when a manufacturing firm purchases parts for the manufacturing they negotiate with the seller. When that same company sells their manufactured product they negotiate with the whole seller and the retailer.

Since the emergence of globalization in the 21st century negotiations have been a key element of trade between two countries, companies or organizations. The key aspect of this kind of negotiation is that both the parties assume that they are in a win - win situation.

When discussing negotiation in business terms between two parties it is assumed that the situations of negotiations can be of three types the first being win - loss situation, where the pursuing party is in the win situation due to their bargain capabilities where as the party being pursued is in a loss situation when signing the deal.

The second type defines when the party who is pursuing is in the loss situation and the party who is being pursued is in the win situation. This situation is the loss - win situation. The third situation is where even after the negotiation both the parties are in a win - win situation. The latest trend of making business is the win - win situation (Nayab, 2011).

Discussion

As discussed earlier negotiation can be primarily of three types but the emergence of globalization has introduced the domination of win - win negotiation. As companies and individuals have started dealing with people of different social and cultural background the business policies have changed as a win situation for one turns out to be a win situation for the other party as well. This have turned out to be extremely successful not only for individuals or companies but for other stake holders like the public and government of those countries.

Negotiation is a business tool but in order to be a successful negotiator a person needs some individual skills of communication, analysis, timing, affectivity and persuasion to be a successful negotiator.

Skills required to be a good negotiator

Dynamic Personality

The first thing expected from a good negotiator is to be dynamic in his personality and dressing as first impression makes a lasting ...