- Business Negotiation Skills Tutorial
- Business Negotiation Skills - Home
- Effective Negotiation Strategies
- Qualities of a Good Negotiator
- Preparing for a Good Negotiation
- Venue & Time of Negotiation
- Factors of a Negotiation
- Exchange of Information
- Being Patient while Negotiating
- What to Consider Before Bargaining
- Getting Out of an Impasse
- Achieving Mutual Gain
- Closing the Deal
- Dealing with Working Space Tactics
- Dealing with Personal Attacks
- Controlling Your Emotions
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
Factors of a Negotiation
Every negotiation starts with opening the negotiation, setting up expectations and closing the deal. The negotiators need to be prepared on the following important steps to consider while participating in a negotiation −
Step 1: Opening the Negotiation
- Know your commitments.
- Discuss the depth of your concern.
- Ensure that your position appears realistic
- Keep your opening position flexible.
- Make larger hand movements; it builds trust.
Step 2: Bargaining
- Question the others for information.
- Make other sides justify their positions.
- Question and challenge their commitment.
- Highlight your most relevant concerns.
- Summarize various arguments and seek possible mobility.
Step 3: End of Negotiation
- Start on low priority items and look for high priority Items.
- Never settle for just your WATNA.
- Make concessions wisely.
- Expect something and get something in return.
- Make smaller movements while closing.
- Focus on the benefits to all the parties.
- Making a final offer carefully.
- Ensure that all agreements have been documented and attested.