The Power of Negotiation - Softcover

Wright, Dell

Softcover

ISBN 10: 1469781891 ISBN 13: 9781469781891

Verlag: iUniverse, 2012

Inhaltsangabe

When you become a better negotiator, you'll earn more money, help your company achieve its goals and enjoy a more fulfilling personal life. Author Dell Wright, a successful CEO, provides the sharp focus you need to enhance your negotiati

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Über die Autorin bzw. den Autor

Dell Wright is the CEO of a real estate investing firm and formerly founded and served as the CEO of a nonprofit, charitable organization. He holds a master's degree in computer science and a doctorate in business administration. He is also the au

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THE POWER OF NEGOTIATION

Teaches Life Changing Skills, Negotiation Practices, Artful Communication, Tactful Assertiveness, Building Relationships, Win-Win Negotiations and more.....By DELL WRIGHT

iUniverse, Inc.

Copyright © 2012 Dell Wright
All right reserved.
ISBN: 978-1-4697-8189-1

Contents

Acknowledgment..........................................................................vAuthor's Biography......................................................................viiPreface.................................................................................xiiiIntroduction............................................................................xvThe Harvard Method......................................................................xix

Chapter One

Progressive Negotiation Tactics

The Win-Win Concept

WIN-WIN

• Strike a deal that's a winner for both you and the party you're negotiating with

• Both parties must be in favor of the deal

Negotiation is a vital skill to have in business. For many people, negotiating is a difficult task and many struggle with the art of negotiation. The Win-Win concept can help ordinary people become stellar negotiators.

When negotiating, we must always consider the other party's situation as well as ours. If you can strike a deal that's a winner for both parties, you're on the right track. With that said, you must always focus on forming a relationship that works out for both you and the party you're trying to negotiate with. If it's a winner for you and a winner for the other party, there's no reason a deal can't be formed.

When you make an offer, make sure the offer favors the other person's needs. Make sure there's an assurance on both sides and always think win-win.

Being Fair

BEING FAIR

• Ensure fairness on both sides

• A negotiation cannot succeed without either side

• Think Win-Win

Let's dwell deeper into creating win-win relationships. The first essential guideline is to be fair.

This is the most important concept that you have to always consider when you're negotiating with people. You have to ensure fairness in both sides since a negotiation is meant to keep matters fair and equal to one another. Therefore, if a negotiation is one-sided and is favorable to only one person, there's no point in negotiating. What's the use to negotiating or being a negotiator if you only intend to benefit yourself?

There's no reason for you to negotiate with others if you're focused on the side that can only benefit you. If you do not consider other things that can also be beneficial to others, they might not agree to your needs. Ultimately, both sides lose because they get nothing in return.

Being Reasonable

BEING REASONABLE

• Must benefit the other party

• Think in terms of "both": make the other party satisfied while still achieving your goal in the negotiation process

You have to be very reasonable when negotiating with others. Make sure that everything in your talk will go smoothly and be beneficial to your side as well as to other people whom you're negotiating with.

Let's say you own a company and you have to negotiate with your employees in regards to the salary increase they're demanding. You have to present them with your company's account statements or current profit versus loss margin to explain why you can't increase their salaries.

Being reasonable is very important. In the example above, the more your employees understand your concerns as a company owner, the more they understand how they impact the company's success.

Be Realistic

BE REALISTIC

• Is it possible? Is it achievable?

• Remember: no one likes being undercut!

When you negotiate about something, one of the most vital things to keep in mind is reality, especially if you're dealing with financial matters. Most people these days are not realistic, particularly in their finances. You can't negotiate with your eyes closed. Being unreasonable derails the negotiation process.

Always keep in mind that no one wants to be undercut. Never use your excellent skill and knowledge in negotiation to fool people and lead them to deal with something that will result in negative effects.

Dirty negotiation is fairly common, especially in business. While not all businesses engage in shady negotiation practices, there are many who do. As an example, let's say there is a factory that needs to dispose toxic materials and negotiate with people who live in the area surrounding their plant and do not disclose the danger and possible side effect associated with their intended plans. In this instance, the people, unaware of the possibility of harm, agree to the terms of the negotiation, slanted in favor of the factory.

In this instance, the factory presented an unrealistic negotiation to their neighbors, which could likely result in harm to both parties; for the people residing in the affected area, they could suffer physical harm as well as property loss. For the company, negative publicity and angry, duped residents could harm the company's reputation and cost the company millions of dollars in lawsuits.

Responsible and fairness in negotiation would have protected both parties.

Why Negotiation is an Important Business Skill

WHY NEGOTIATION IS AN IMPORTANT BUSINESS SKILL

• Reduces costs and stay within budget

• Gets more sales

• Gets more value for your money

Businesses require skills and insight from their employees to achieve success. One of these skills is negotiation, which is vital to running a business. Negotiation skills are crucial to closing successful business deals, fixing manpower issues and even regular business operations, ranging from hiring to financial aspects.

Negotiation keeps businesses running smoothly. For instance, through great negotiation skills, business leaders can keep their employees happy, with fair pay and benefits. Providing employees with fair compensation is the most important thing to a responsible businessman, because without employees, companies can't exist.

Negotiation is also vital to closing business deals between companies. In this instance, be aware of essential negotiation strategies. One of these strategies is including a win-win concept. What's being said during negotiations can also imply a win-win situation for the other side or to the company that's being dealt with. This way, both parties can avoid experiencing any risk of losing great details when it comes to closing certain business transactions.

Employees and other business concerns can also be settled effectively when the business owner is responsible and, most importantly, skilled in negotiating. A very common scenario that arises in business is when employees want more money or benefits or some other form of monthly compensation. Mangers and executive leaders who lack negotiation skills are ill-equipped to handle these matters, and respond by giving employees all or nothing. Too much concession usually leads to increased demands and financial losses; too little results in employees jumping ship to find greener pastures. Either outcome is ultimately a, lose – lose, situation.

Negotiation skill is extremely important in most businesses and even in our daily lives. Whether in business or in life itself, negotiation improves communication and creates the best possible outcome for all parties involved, no matter how big or small a negotiation may be.

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Details zur Ausgabe

• Verlag: iUniverse
• Erscheinungsdatum: 2012
• Sprache: Englisch
• ISBN 10: 1469781891
• ISBN 13: 9781469781891
• Einband: Taschenbuch
• Anzahl der Seiten: 140
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: gpsr@libri.de; gpsr@libri.de; ; Friedensallee 273; Hamburg; 22763; Deutschland