NEGOTIATION STRATEGIES

Negotiation Strategies



Negotiation Strategies

Introduction

Negotiation means conferring with others in order to arrive at a decision regarding some issue. In any project, a successful outcome can be achieved by employing an effective negotiation strategy, whereby both parties benefit. Negotiation can be applied in any context or any situation, regardless of the business' nature. A business can immensely benefit if all but both the parties take on a win-win approach. Though they might differ a bit from situation to the situation, one of the successful negotiation strategies is Principled Negotiation, developed through the Harvard Negotiation Project (Tenbergen, 2001).

According to Tenbergen (2001), the negotiation process can be defined as cooperative decision-making in a way that it creates the most value. It involves the process of value increment of the negotiation subject through trade or reframing, or to claim value i.e. try to get as much as possible from the situation.

Principled Negotiation is used for across-the-board conflicts, and is pertinent to any in which differing interests and mistrust exists, particularly in the industrial disputes. With respect to software development, Principled Negotiation has a role in the client-supplier relationship due to tension, resultant of the numerous factors making it difficult to deliver results successfully. Preferably, both the client and supplier should use Principled Negotiation strategy because it brings mutual benefits (Tenbergen, 2001). The concept of Principled Negotiation strategy is for assisting and benefiting both parties.

Discussion

The Principled Negotiation falls under the collaborative problem solving negotiation strategy. This strategy is for creating a win-win situation, under which there are cooperative and competitive strategies, along with principled negotiation (Osadare, 2004).

The principled negotiation strategy takes a win-win approach, introduced by Fisher and Ury (1999), to illustrate the bargaining on interest based on fair principles on which the interests and needs of parties are fulfilled (Osadare, 2004). The key to ...