What's your negotiation strategy?
enter site Skilful negotiation can be the difference between a positive business outcome and a negative one. It can lead to satisfied clients rather than lost business. It can mean a harmonious workplace rather than disgruntled employees. Yet despite its importance, says strategic thinking expert Dr Rosemary Howell, the art of negotiation does not come naturally to all professionals. It’s something that often has to be learned and honed.
here Dr Howell has studied this area for more than 15 years. As Chairman of Strategic Action Pty Ltd and Professorial Visiting Fellow within the Faculty of Law at the University of NSW, her role has been to pass on to others the essential skills required for successful negotiation.
follow site She says individuals in professions like accounting and law, who are often gifted with superior technical and practical abilities, can sometimes struggle when it comes to handling issues like workplace conflict or business agreements.
http://boersenalltag.de/blog/post/2017/04/24/sdk-ruft-zur-teilnahme-an-der-hauptversammlung-der-grammer-ag-am-24-mai-auf/index.html It’s in these arenas, however, that professionals are regularly required to bring their bargaining skills to the table, whether it is dealing with a difficult client, facilitating negotiation between a client and an auditor or resolving disputes.
source site “Negotiation is often counter-intuitive for such professionals,” says Dr Howell. “They tend to think about how they do things and ensure they get the process exactly right, but they rarely think about why.”
go Dr Howell believes that understanding this ‘why’ factor is an important part of the skill set required for positive results in all the various negotiations that can take place on any given day – discussions with staff about remuneration or their work environment, meetings with clients about service-level agreements, deals with major business partners who might wish to negotiate your accounting fees, and so on.
source Most importantly, experts say, it is essential to realise that negotiation is in no way about winning and losing. It’s instead about finding a way for everyone involved to walk away from the table knowing the outcome was a good one. Successful negotiation is about achieving a win-win for both parties.
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The worst type of negotiator is the one that feels they have to win, says Dr Rosemary Howell, Chairman of Strategic Action Pty Ltd and Professorial Visiting Fellow at UNSW.
“Those who think there should be a clear winner and a clear loser in a negotiation limit the ability of real negotiators and shrink the pie that is available within any negotiation,” she says.
“They fight over the wrong things, ruin relationships, make good organisations avoid their business and often destroy the culture of their own business by replicating themselves when other individuals begin to imitate them. Those who act this way – as negotiation bullies – ruin the process for everybody. They frustrate creativity and get in the way of progress.”
A successful negotiation ends with both parties leaving the room satisfied that a good business outcome has been reached. But what if it appears this will never happen? When do you know it’s time to pull the plug?
“Your preparation will help you identify when you can get a better deal away from the table than at the table,” says Dr Howell.
“The better prepared you are, the better your mind map will be. You should always have a good picture of where you are at any stage of the negotiation and then you’ll know at what exact point the negotiation is over.”
Without thorough preparation, she says, it is easy to be talked into accepting a deal that is not positive for your business. It’s vital to know when to talk and when to walk.[/breakoutbox_content][/breakoutbox]
strategia opzioni binarie con adx Three essential steps
Dr Howell boils negotiation success down to three essential ingredients. “First of all, preparation is everything,” she says. “You must know your strategy and have an appreciation of the position of the others in the negotiation, or at least a willingness to extrapolate what the other party’s interests might be. Strategic thinking in a negotiation is not just about protecting your own interests, it’s about using your influence and persuasion to find a good outcome for both parties.”
Second, says Dr Howell, you need to have in your mind a map of the process, so that at any time of the negotiation you can identify where you are and how you’re travelling according to your strategy. By using this mind map, you can continually re-frame your position in order to figure out how things are going, when you must stand firm and when you can afford to compromise.
“Finally, success is about learning from experience,” says Dr Howell. “After every negotiation, you should put aside time for a debrief to work out what you did well and what you could do better. Reflect on what happened so you can learn from it and be better at the process next time.”
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What exactly is involved in the preparation process? Judeth Wilson, managing director of soft skills training organisation Upfront Communications, offers this as a pre-negotiation checklist:
- Your objective – what are you trying to achieve? What is on your wish list? What is a ‘must have’ and what is a ‘nice to have’?
- Their objective – what are they trying to achieve? What is on their wish list? What is their ‘must have’ and what is their ‘nice to have’?
- What are the tangibles to negotiate?
- What is your range and what, most likely, is theirs?
- What are you proposing and how will you influence them?
- What are their likely points of resistance?
- What is your best alternative to a negotiated agreement or walk-away position?
- What would they do if there was no agreement?