Lore about negotiating

If there is any discrepancy, individuals reasonably aim to achieve the best possible outcome for their situation or else an organization they may represent, particular forms of negotiations are used in many circumstances: International affairs, the legal system, government, industrial disputes or domestic relationships for examples. On the other hand, general negotiation skills can be learned and applied in a wide range of activities.

Negotiation skills can be of great benefit in resolving any differences that arise between you and others. Negotiation arises into performance when two parties have different preferences in a single decision that will affect both. Negotiation provides a venue for parties to present ideas to each other, as well as provide an often cheaper and faster alternative to resolve conflicts. On the other hand, negotiation also may offer major disadvantages that negotiators should watch out for.

Definition: Negotiation is a method by which two or more parties resolve a dispute or come to a mutual agreement while avoiding argument and disagreement. In business, negotiation skills are important in both informal everyday interactions and formal transactions such as negotiating conditions of sale, lease, service delivery, and various legal matters.

When and where it occur: Negotiations may take place all the time in the business world or in everyday life, and they are often strategic in nature.Negotiation skills: In many cases, the negotiators require a good legal, administrative, financial and general education so that the parties can understand each other, make sound decisions, and understand the potential consequences of those decisions.

Negotiator's preparation: Negotiators must prepare themselves by reviewing and analyzing the situation extensively before entering the negotiating scope, followed by considering deadlines, timing, cultural expectations, personalities, and the distribution of information in their negotiating strategies.

Successful negotiation: Apposite negotiations contribute significantly to business victory, as it support to build better relationships, deliver lasting solutions, provide quality solutions, offer to avoid future problems and conflicts through give and take policy.

Its aim to create a courteous and constructive interaction that is a win-win for both parties. Ideally a successful negotiation is where make concessions that mean little to one, while giving something to the other party that means a lot to them. Approach should foster goodwill, regardless of the differences in party interests.

Objective of Negotiation: The main objective of this process is to come up with an agreement that benefits all parties.
Significance of Negotiation: Technology advances rapidly in the business world. Hence, negotiation is essential in corporate to avoid conflicts and improve the relations among the employees. The art of negotiation is as significant a business skill as it ever has been. There will always be conflicts in life, and the ability to solve them, particularly in the business world, is what creates success.

Why negotiation so critical/ Disadvantages: Negotiation sometimes takes a wrong turn when one of the negotiators of either of the two parties is a better and more skilled negotiator. Since negotiation is in practice, it allows both parties to present their concerns and ideas about a deal. It takes a lot of expertise, both intellectual and social, to properly present and disputed deal/s.

If the talent level is unequal, this can lead to deals being struck in favor of the better negotiator as opposed to the best interest of the two parties. Hence, parties may be of unequal power/skill and the weaker party may be placed at a disadvantage. A successful negotiation requires each party to have a clear understanding of its negotiating expertise.

Benefits of negotiation skills: The ability to persuade is one of the most powerful negotiation skills an employee can have in their skills mixture. Employees can only benefit by learning and developing their negotiation skills. Benefits are enjoyed by both the career enhancement of the individual and the bottom line of the organization.

Way to improve negotiation skills: Gain the edge in negotiations with fantastic non-verbal, body language and other tips: Show up on time, perfect the handshake, greet all the time, discuss / speak / listen, negotiate with the right people, maintain friendly eye contact, be aware of your facial expressions, maintain personal space. As an everyday life or business skill, negotiation is here to stay.

By dint of prioritizing and having good negotiators on team, create an environment for business success. Need to remember, negotiation should be approached not as a competition, however, as a compromise that both sides stand to gain from. Planning ahead, building a strong research team, and taking the time to understand opponent's business goals too, are the key to winning negotiations.


The writer is an Assistant Professor, Estate Officer and Proctor of Bangabandhu Sheikh Mujibur Rahman Science and Technology University, Gopalganj, Bangladesh