Negotiations

Although "negotiation" may be a rather intimidating word for some people, it may help to know that this is a skill which you have already used to some degree, and probably many more times than you realize.
How many times have you been in one or more of the following situations? You need to ask your boss for a salary increase; you want to convince a son or daughter to complete a chore they may not wish to do; or you are representing your company in sensitive talks concerning a strategic alliance with another firm.
The stakes may be different in each case, but the common thread running through them is the need for negotiation skills. Negotiating is an activity that all managers engage in to some degree, perhaps dozens of times every day.
Typically, negotiation takes place informally: on the telephone, at a quickly called meeting, or during an impromptu conversation with someone in the hallway. Sometimes negotiation can take place abruptly, when you are least prepared, and be concluded in a matter of seconds.
Regardless of the form negotiation takes, it is very important to have a well-developed set of negotiation skills in order to run your business successfully. Even if you feel you already have a talent for negotiating, there are always ways to develop and continuously improve your negotiation skills.
To develop these skills and use them effectively, you must know:
• what negotiation means and the various forms it can take
• that negotiating, in the fullest sense, means forging long-term relationships
• the role that the individual personalities play in negotiating
• that you must take a variety of approaches to negotiation, since no single set of principles will suffice in all circumstances
What negotiation means. Most people, when they think of negotiation, have in mind those rare occasions when people sit at a table and hold intense discussions in some formal way. The major difference between this type of negotiation as compared to other types is the need for planning. Just like in any formal process, negotiation planning is a much more structured process. In these situations, it is important to:
• develop an agenda for use in guiding the meeting
• define issues, alternatives, and what's in it for them/us
• have available an alternate type of contract if impasse is reached
• have knowledge of the party you are negotiating with


…