![]() ![]() This article addresses the importance of making the opening gambit a product of rational consideration, not a default reaction. Three of the most important facets of a negotiation are preparation, the opening gambit, and the ability to walk away. Given the ubiquitous nature of negotiations, it is important to understand how best to approach them. If you discover early on that the other party is reluctant, or worse, not interested, then it would be much wiser to abandon the negotiation. Key Point – To succeed in a negotiation, both parties must want to reach an agreement. At the very least, most people at some point will need to negotiate their own salaries.īecause negotiation is such a common problem-solving process, it is in everyone’s interest to become familiar with negotiating dynamics and skills. While most business people will not be involved in negotiating the sale or purchase of an entire company or of multi-million-dollar contracts, many will be involved in negotiating a new lease on a building, employee salaries and raises, the division of resources among departments in a tight budget year, or, even less happily, the resolution of a lawsuit. ![]() Negotiation is a constant factor in business life and life in general for that matter. Successful negotiation is the process by which two or more parties arrive at a mutual agreement, by means of discussion and bargaining, within an agreed time scale.
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