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Negotiation is defined as a discussion among individuals, each one trying to present his best idea to come to a conclusion benefiting all. An individual gains nothing out of conflict and misunderstanding; instead it leads to stress and anxiety. It is always advisable to compromise to the best extent possible and try to find out an alternative which satisfies all.
An individual needs to adopt certain skills for a successful negotiation. Let us understand them in detail:
An individual before starting with the negotiation must be very clear with the agenda (topic) of the negotiation. Ask yourself - why this negotiation? What is the objective of the negotiation? One must be well informed. Try to find out more about the competitor’s products or services.
Let us suppose you want to buy a Parker pen for your friend’s birthday. Before purchasing, it is always better if you check out the prices of other brands as well for instance Mont Blanc. Also check out its features; it will help you in better negotiation with the store owner. Don’t go blank; the other party might fool you.
Before any important deal, do make it a habit to go through as many details as you can. The second party might ask you anything, you must be well prepared to clear all their doubts and convince them. If you yourself are confused, he would never bother to listen to you.
If your boss assigns you a project you are not very comfortable with, show your displeasure to your boss in a polite way and ask for something else. But make sure you are not rude; otherwise your job might be at risk.
Greg was offered a job with a leading advertising agency. He was really very happy as he was jobless for quite some time now. The HR quoted a figure to Greg, which did not impress him much. Greg tried his level best to negotiate with the HR, but unfortunately the HR had already found that Greg was in dire need of the job. He refused to negotiate further. Poor Greg had no option than to accept it.
Where did Greg go wrong ?
The only mistake he did was he made it very obvious that there was no way he could afford to miss this opportunity.
When a customer goes to purchase something, he must not forget that the store owner also has to earn his profits. The store owner should also understand the customer’s needs and pocket. Negotiation depends on mutual understanding.
No body is born with good negotiation skills; you need time to acquire them. Be tactful and patient. Understand the second party well - his needs, expectations and find out a solution beneficial to both the parties.
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