PLANNING AND PREPARING FOR NEGOTIATION

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 Write two page of about a business situation where you need to negotiate. Describe this process and illustrate how the 4 steps in planning could help you negotiate. Please be as specific and detailed as possible. Feel free to consult background readings. Expectations: 1. Answer questions with clarity. 2. Show depth and breadth in your paper to enhance the quality of your paper. 3. Try your best to search in our library to find some papers/articles to support your argument and show them in the reference list.

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PLANNING AND PREPARING FOR NEGOTIATION

Write two page of about a business situation where you need to negotiate. Describe this process and illustrate how the 4 steps in planning could help you negotiate. Please be as specific and detailed as possible. Feel free to consult background readings.

Expectations:

1. Answer questions with clarity.

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2. Show depth and breadth in your paper to enhance the quality of your paper.

3. Try your best to search in our library to find some papers/articles to support your argument and show them in the reference list.

Background Readings:

1. WHERE TO START PLANNING

Start by thinking through your objectives. • What do you want? What are you willing to give for it? • What do you need? What are you willing to give for it? • What is your timetable for giving and getting? Once you have your objectives established, concentrate on the issues and categorize them as major or minor concerns. Do this not only for your issues, but also those you anticipate the other party will identify as theirs. Also, don’t neglect issues which are common to both parties.

 

2. WHERE TO GET INFORMATION

Answers to most of the questions raised during your preparation are available through research. Often, all you need to know can be obtained by asking questions of others who have had similar experiences, or by doing research in readily available resources. These resources can include: – Buyer’s guides and other published product information. – Magazine and newspaper articles. – Instructional and educational books and/or pamphlets. – Reports by government and industrial groups. – Corporate annual reports. – Electronic data bases often available in public libraries. – Your network of business associates and friends. – Publications and surveys by professional and community groups.

 

3. DEVELOP A TIME PERSPECTIVE

After you are satisfied with your study of objectives and issues; and have gathered the information to support your position, decide how much time you have to devote to your effort. Estimate time factors for your opponent as well. Time often is a pressure point which can force concessions you would prefer not to make. The same is true of the other party. If you can make time relatively unimportant, it is often possible to hold out for better terms because the other person is in a hurry to conclude the deal.

 

4. IDENTIFY SOURCES OF POWER 

The relative power of the parties is another key factor to consider during your preparation. Power in this instance is not defined as the ability to force an action; but rather to influence an outcome by logic, validity, or legitimacy of a position. Following are some positive sources of power: – PERSISTENCE— Do not concede or back off at the first sign of resistance. Give the other party time to think and consider alternatives. Then try again. – COMPETITION— There is always competition for what you have whether it is money, ideas or products. Never forget that you always have options. – EXPERTISE— Use what you have. You will receive more consideration from people who believe you have more knowledge, skill, or expertise than they do. – LEGITIMACY— Give yourself and your position legitimacy by using documentation that is supportive. This often has great influence whether deserved or not. – INVOLVEMENT— Get everyone involved. Personal involvement often will cause those participating in a negotiation to work hard to insure it doesn’t fail. – ATTITUDE— Do not relieve your tension on the other negotiator. If you need time to reduce stress, take a recess. Try to maintain a win/win attitude.

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