Negotiating Essentials Essay

1516 words - 7 pages

Before entering any negotiations it is prudent to set BATNA that stands for Best Alternative to a Negotiated agreement. It is a perceived value and similar to the “walk-away” value, which is the most essential bargaining power. In negotiations power is an ability to induce the other party to settle for less. The use of power to achieve goals is leverage. If leverage in negotiations is perceived as balanced then the bargaining power of parties is balanced. If it is perceived as unbalanced then the negotiation process and outcome may be affected. The consequence is that the party with greater power may choose a win-lose approach. BATNA is the greatest source of power, thus if the other party ...view middle of the document...

There are some tactics that make an argument persuasive. Many negotiators, to create a positive atmosphere, use a joke at the very beginning. Later on humor can be used to diffuse a tense moment. Also it is a fact that people respond better to images and words that to verbal communication only. Thus using props is a second tactic that makes an argument persuasive. A powerful way to convey meaning from one thing to another is using a metaphor. Everyone was a child and heard some fairytales that etched in memory forever. Those stories were not just pure facts, but the facts with mysterious background behind. Thus storytelling conveys the interest behind position and is another tactic. Focus on other party’s perspective is also very helpful tool. Use either a central route which is encouraging content or peripheral route – using throwaways, friendly behavior. Besides those tactics there is another hint – communication. There are two kinds of communication – verbal communication and nonverbal communication. The first one implies direct single dialogue. Tone, pitch, volume are the factors that can affect and alter some things. The nonverbal communication requires understanding and a huge experience, because by seeing some tiny thing such as movement of eyes, gestures, facial expressions can play a huge role in communication, because those are international and cannot be arranged and prepared before.
To settle a strategy is another key success factors in negotiations. There are five strategies for various situations. The first is “Increments of concession”, focus on “The Number”. It can be used when to consider distributive bargaining, single issue such as price. The objective is to create a pattern of concession that will enable you to negotiate the best deal. There are three possible concession patters: split the difference (even division between the last two offers), equal increments (equivalent concessions), and decreasing increments (smaller concessions, appear to be closing in on a value “the number”. The second one is principled negotiations. The objective is to discover new settlement points that satisfy both parties. To enable that parties move beyond setting and defending their positions to discuss real interests. It is to be considered when there is an integrative bargaining, multiple issues and positive long-term relationship. The third one is Multiple Equivalent Simultaneous Options (MESO). The objective is to identify all the issues and prioritize them. Identify different possible outcomes for each issue by assigning “points”. Then develop multiple options of equal value to present to the other party. Considered to be used when there are multiple issues, some objective and some subjective. People prefer to be given choices – many options, rather than a single offer. Even one MESO option is enough to make a great value to the other party and can lead to further discussion. The forth one is The Economic Matrix. It is almost the same...

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