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Effective negotiation – What is it?

Negotiation refers to a dialogue between parties or individuals with the intention of reaching a shared understanding. More importantly, negotiation is one of the many ways that management teams arrive at key conclusions and decisions. Just as personalities, backgrounds and agendas may differ, negotiation styles come in a variety of shapes and forms. Depending on the circumstances and audience, one particular style may prove more effective than another. With well-sharpened negotiating skills you can often get the most out of a discussion, deal, or sale

Negotiation in Business

It is well-known that conflict can be bad for business. As a communication and management tool, negotiation is commonly used to avoid, diffuse and resolve conflicts resulting from contrasting needs or wants between parties. When effective, negotiation is win-win - for both parties, and leaves all involved feeling that they've won.

Business success is dependent on a cohesive action plan among its leaders and managers. Thus, negotiation can be applied to any aspect of operations within which disagreements or differences of opinion might occur. As a whole, organisations can yield the negotiation skills of their employees more competitive agreements with suppliers, customers and partnerships whilst fostering sustainable and mutually beneficial relationships. On an individual level, business success is directly related to the outcome of certain negotiations – whether you are looking to progress in your career, win that deal at higher margins, defend or increase your market share or maintain or increase your profitability.

There are negotiation courses that focusses on negotiation skills in business.

The Art of Negotiation – A Learned Skill

Successful negotiation is all about building the right skills, understanding your goal, and tailoring your technique to suit each circumstance and audience. Training courses in negotiation aim to provide a thorough grounding in the overall science and practice of negotiation, as applicable to each individual’s strength, weakness and needs. Accordingly, negotiation requires a well-defined and well-implemented process from preparation to completion.

Critically, negotiation skills go hand in hand with skills in communication. Simply, if you are unable to communicate your view or demands, negotiation is sure to go poorly. By choosing the right words and phrasing, individuals can ensure that the other party understands their objective and, better, manipulate their presentation to increase chances of achieving a desired result. When done correctly, each party will leave with a feeling of satisfaction.

With negotiation courses, individuals will realise that much of the negotiation process occurs before the negotiation itself even takes place. The preparation process is a key component of negotiation as it helps individuals to understand the issue, their opponents and their own objectives. Preparation for a negotiation is largely based in research, critical thinking and the development of a negotiation plan. For successful negotiation, be sure to know the issue, product or service inside and out and identify all parties involved, alternative outcomes and outcome consequences for each party. The more knowledge you have about a respondent, the more likely that you know how they will react in different situations. Finally, the formulation of a negotiation plan can help to stay on track and tailor your techniques to best suit the circumstances and parties involved.

Negotiation strategy is determined partly on the basis of the goals you set, and how you think the other party will act. With the right strategy you will be more likely to meet your goals. When choosing tactics, have your goals in focus, plan how to stage your argument. Are all the advantages presented at once or do you want to surprise the customer with the details?

Benefits of Negotiation courses

Taking a negotiation course is an invaluable investment, that you will see returns on in all areas of your life. Particularly for those working in deal-making roles, negotiations skills training courses can not only give you the confidence to walk into a negotiation meeting believing you will walk out with what you wanted, but also will give you the skills to make deals more effectively. For those in leadership roles or those aspiring to managerial positions, negotiating training courses will help you learn to get the job you want and manage your team into the right direction.

Training Courses in Assertiveness & Influencing

Assertiveness and influencing are common factors in negotiation skills and processes and thus, often overlap in training and courses in negotiation. As the quality of being self-assured and expressive of one’s needs and desires, assertiveness can help individuals to be seen, heard and considered. Influencing refers to the communicative ability to be persuasive and affect the opinions and actions of others. Like negotiation, the personal qualities and learned skills of assertiveness and influencing are grounded in effective communication. With this triad of skills in negotiation, assertiveness and influencing, individuals can:

  • Achieve financial success
  • Discover new solutions to business and personal problems
  • Prevent or resolve disputes and conflicts
  • Improve your worth to your organisation
  • Improve individual, department, and company productivity
  • Improve your management and interpersonal skills
  • Increase your profitability and gain new opportunities

Negotiation courses are available for those starting out in the industry as well as for the professional looking to stay abreast of the latest developments.

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