- Background Information. Walking into a negotiation blindly can ruin any chance you have at negotiating successfully. …
- A Goal. …
- A Plan. …
- Confidence. …
- Self-Interest. …
- Practice. …
- Objectivity.
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What should I prepare for negotiation?
- Know Your Strategy. …
- Choose Your Negotiating Style. …
- Identify Goals. …
- Prepare a SWOT Analysis. …
- List Pre-Meeting Questions. …
- Compile Options / Deal Design. …
- Form a Trading Plan. …
- Set the Agenda.
What are the main elements or considerations when preparing during a negotiation?
- Interests. Interests are “the fundamental drivers of negotiation,” according to Patton—our basic needs, wants, and motivations. …
- Legitimacy. …
- Relationships. …
- Alternatives and BATNA. …
- Options. …
- Commitments. …
- Communication.
What are some considerations for ensuring negotiations are legitimate?
- Know what are you trying to accomplish. …
- Develop a game plan before negotiations start. …
- Study and understand your counterpart. …
- Work towards a win-win. …
- Avoid negotiating with yourself.
What are the 7 basic rules of negotiating?
- Rule #1. Always tell the truth.
- Rule #2. Use Cash when making purchases.
- Rule #3. Use walk-away power. Don’t get emotionally attached to the item.
- Rule #4. Shut up. …
- Rule #5. Use the phrase: “That isn’t good enough”
- Rule #6. Go to the authority. …
- Rule #7. Use the “If I were to” technique. “
What are the 5 stages of negotiation?
- There are five collaborative stages of the negotiation process: Prepare, Information Exchange, Bargain, Conclude, Execute.
- There is no shortcut to negotiation preparation.
- Building trust in negotiations is key.
- Communication skills are critical during bargaining.
What are the 5 principles in negotiation?
- Principle 1. Reciprocity: …
- Principle 2. Publicity: …
- Principle 3. Trusted friend: …
- Principle 4. Universality: …
- Principle 5. Legacy: …
- Related Posts. 3-D Negotiation Strategy.
What are the 3 phases of negotiation?
- • Phase One – Exchanging Information.
- • Phase Two – Bargaining.
- • Phase Three – Closing.
What are the six stages of negotiation?
- Stage 1 – Statement of Intent. …
- Stage 2 – Preparation for Negotiations. …
- Stage 3 – Negotiation of a Framework Agreement. …
- Stage 4 – Negotiation of an Agreement in Principle (AIP) …
- Stage 5 – Negotiation to Finalize a Treaty. …
- Stage 6 – Implementation of a Treaty.
What is the correct order of the negotiation process?
Definition of Ground Rules. Clarification and Justification.
Bargaining and Problem Solving
. Closure and Implementation.
What are the 4 most important elements of negotiation?
- Strategy,
- Process,
- Tools, and.
- Tactics.
What are principles of negotiation?
- Fisher and Ury (1983) identified four fundamental principles of negotiation:
- Four basic principles.
- Reframe. …
- Respond not React.
- Re-focus on the issue.
- Identify Unfair Tactics.
- Attributes and Competences for Successful Influencing/Negotiating.
What are the 4 factors of negotiation effectiveness?
- Authority: The first key factor affecting any negotiation is authority.
- Credibility: Trust and mutual confidence are very relevant in any process of negotiation.
- Information:
- Time:
- Emotional control:
- Communication Skills:
What is the golden rule of negotiation?
The “Golden Rule” of Negotiating:
never let a negotiation come down to one issue… ever
! Why? Because, by definition there is a winner and a loser.
What are the 2 key elements of a good successful negotiation?
- Problem Analysis to Identify Interests and Goals. …
- Preparation Before a Meeting. …
- Active Listening Skills. …
- Keep Emotions in Check. …
- Clear and Effective Communication. …
- Collaboration and Teamwork.
What is the first stage of negotiation?
Prepare
: Negotiation preparation is easy to ignore, but it’s a vital first stage of the negotiating process. To prepare, research both sides of the discussion, identify any possible trade-offs, determine your most-desired and least-desired possible outcomes.
