Mastering Negotiation Skills: A Comprehensive Guide
Learn essential negotiation techniques such as setting clear objectives, presenting your opening position effectively, bargaining strategies, rules for conceding, and finalizing agreements. Discover key tactics for successful negotiations and ensure a favorable outcome.
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Negotiation Skills PowerPoint No. 7
Be Clear on Objectives / Outcomes Most Preferred Position - opening position Like to have Target Position realistic outcome Intend to have Fallback Position will settle for Must have Walk Away
Opening Position Opening position is a most preferred and favoured position Present strongly with supporting argument Structure presentation common interest problems and considerations your position supporting arguments encourage
Presenting Before Bargaining! Listen to the other person s opening position and test water without commitment Choose words carefully Possibly consider May be prepared to look at.. Avoid specific details We could perhaps look at varying the price slightly... Tie concessions; using the if ..then technique. We could possibly consider varying the price slightly if you were prepared to place larger bulk orders . Give reasons for movement To maintain credibility
Bargaining Stage: Variables Things that are of high value to other party .low value to you Trade .never ...give away Be creative Everything must be conditional Signal what might be possible Nearly all constants can be negotiable Most Preferred Position - opening position Target Position realistic outcome Fall back https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSXGfSH3Lfx9KBJBW1Nfr8WxgSYvljvSniwf8yMRV2T7bEqtBTIY172IqZ3
Bargaining Stage: Rules for Conceding Find out the different values placed on different issues and use to trade concessions Most Preferred Position - opening position Target Position realistic outcome Use If then formula to ensure return Value your concessions in the other party s terms Keep all concessions under review What exactly have you agreed to? What are you getting in return? How does that fit with your objectives? How does it fit with their objectives? https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSXGfSH3Lfx9KBJBW1Nfr8WxgSYvljvSniwf8yMRV2T7bEqtBTIY172IqZ3
Agreement Stage: Record Agreements Check you have agreed and recorded: What has been agreed? Who is responsible for what actions? When will these actions take place? Where will these actions take place? Follow-up meeting?
Negotiation Exercise Three 10 minute exercises 3 persons (one initiator, one recipient, one observer) Roles: Initiator wants to get recipient to change something currently done in a certain way Recipient may / may not be willing to accept change Observer to summarize exchange & offer one thing each role did well and one opportunity
Negotiation Exercise Exercise: (Repeat three times in different roles) Initiator engages recipient with 7 minutes maximum Bring up topic of conversation Recipient to Present change / request and background Listen to initiator (may paraphrase / ask for clarification) Provide background Observer to (in 2 minutes) Render decision (one minute) Summarize exchange one thing initiator did well and one opportunity for improvement one thing recipient did well and one opportunity for improvement
