Negotiations can be called as a way of resolving disputes. It is considered as being synonymous to settlement, agreement, collaboration and bargaining. It takes place almost in all spheres of life -be it is business, personal circumstances (married life, parenting, etc.), legal procedures, government matters, etc. Negotiation can be defined as a channel of communication intended to reconcile differences between parties and to settle conflict jointly. The parties aim at achieving a win-win position.
Business Negotiations requires a lot of homework, such as asking what is the need of negotiation, who all are involved, what are their view points, what are your aims, what is expected from negotiation, etc.
Negotiation involves minimum of two parties. The aim of negotiation is understood by both parties. The parties are willing to arrive at a mutually agreeable outcome. The outcome is acceptable to both parties.
There are certain do’s and don’ts in case of negotiations:
- Do not discuss too many issues, emphasize on the prior issues.
- Be honest and straightforward. Don’t get carried away by rumours.
- Never give deadlines, it might lead to delays in deals.
- Keep away personal differences. Just focus your arguments on facts.
- Keep on giving recaps during the negotiation process.
- Avoid being rigid. Listen to the other parties view point if valid.
- Give testimonials for your argument. Support your argument with facts.
- Don’t make demands which can’t be accepted at all.
- Don’t let emotions overwhelm you.
- Be optimistic. Don’t fear losing. There are opportunities in other transactions also.
Related Human Resource Management Paper:
Popular Human Resource Management Paper:
Introduction Grievance by an employee taking recourse to the formal procedure may not in all cases solve the real problem. It is true that in many cases the grievance could be taken care of through the grievance process, but there are instances and occasions when a much deeper analysis of the sys.....
Introduction: The tremendous success of readymade garment exports from Bangladesh over the last two decades has surpassed the most optimistic expectations. Today the apparel export sector is a multi-billion-dollar manufacturing and export industry in the country. The overall impact of the ready.....
EXECUTIVE SUMMARY Readymade Garments Industry is the leading foreign currency earning sectors of Bangladesh. Now-a-days Bangladesh financial sector is very much dependent upon this sector. The annual export income of garments sector is driven from two sources one is woven garments and others is k.....
Training is defined by Wayne Cascio as “training consists of planed programs undertaken to improve employee knowledge, skills, attitude, and social behavior so that the performance of the organization improves considerably.” The purpose of training and development can be explained as follows......
INTRODUCTION 1.1: Background of the Report An employee might more knowledgeable and skilful by training and development program or process that maintaining an effective level job performance. So it acts an important role in HR department. As a part of BBA program, our Human Resources practices in.....