1 May 2017
Negotiating & Dispute Resolutions

Negotiating & Dispute Resolutions

Business, and life for that matter, is really a succession of negotiations from the moment we are awake until we go to bed at night and the ability to be able to negotiate effectively is a critical competency for many people.

An effective negotiator will draw upon a range of communication and interpersonal skills as well as being able to plan effectively to be able to set objectives and understand how to work with others to get the best deal from any negotiation. Most managers have learned, adapted and developed some level of competence in the subject and yet the demands of everyday life require them to have higher levels of skills than ever before.

Utilising a framework for negotiation is a very effective way of developing disciplined approach to a subject which requires them to research information and context of the negotiation as well being able to plan and prepare for the negotiation discussion which will be handled in a face-to-face meeting.

There are great many myths surrounding the topic of negotiation such as “the first person to speak in negotiation is the loser” and “good negotiators are born and not made” I must say that I found many of these myths generally to be used as excuses for why people don’t acquire the relevant skills to be able to negotiate with excellence. One thing is for certain that in today’s business world there is not much room for those who sit around making excuses for poor performance. It’s time to acquire an in-depth knowledge about the topic and develop the skills that are required.

negotiationNegotiation provides a win-win situation for those involved.  The subject is much more about the individuals and their emotions than it is about the situations and circumstances surrounding the negotiation process. When conducting corporate transactions it’s easy to lose sight of the fact that we are dealing with human beings and not just ”The other side” in a negotiation. The successful outcome of any negotiation must rely on a psychological commitment by parties to implement decisions and agreements which been reached during the process. Without this fulfillment the negotiation has all been worthless.

All negotiators will have two levels of interest, They will be looking for a agreement which satisfies their tangible interests such as securing a good price, or excellent terms and conditions on a contract, whilst at the same time they will need to preserve a relationship with another negotiating party to greater or lesser extent depending upon the nature of continuity of a business relationship.

In order to negotiate effectively you need to consider 4 key components within the process:

  • People – Remember that we are always negotiating with people, and people have emotions which may get in the way of their rational approach to negotiating. They may adopt position in the negotiation which reflects the way in which they see the situation and which maybe based on their beliefs. In order to meet our objective we may have to use influencing skills and persuasion.
  • Interests – Being able to understand the interests which support the position that people adopt in a negotiation is a key step towards finding a mutually beneficial outcome. Interests maybe difficult to establish immediately and therefore exceptional conversational, questioning and listening skills need to be developed in order to fully understand the other negotiating party.
  • Alternatives – To be successful and negotiating you need to prepare alternatives to your most favoured position or outcome. There is a term in negotiation BATNA which means Best Alternative To a Negotiated Agreement it is important that this is considered for your own situation and also for the other negotiating parties before you get around the negotiating table.
  • Metrics – metrics provide a way of measuring the benefits of various alternatives in order to be able to establish the best alternative. Being able to understand the value of every tradeable component will allow you to make concessions and reciprocal agreements successfully.

The training courses offered by AZTech on the subject of negotiation skills will provide you with a solid framework to enable you to strategically plan for and conduct negotiations at every level.

In order to take advantage of the benefits to be gained from an Aztech training course why not enroll today  on “Negotiating & Dispute Resolutions”


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