Negotiate your way effectively to strike a deal!!
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The document outlines the process and key steps for a successful win-win negotiation. These include having a clear opening statement to understand each party's background and interests, setting objectives for the negotiation, generating ideas and options for cooperation, maintaining a cooperative climate, clarifying any misunderstandings, accepting or rejecting proposals, summarizing agreements and outstanding points, and concluding by ensuring all points have been settled.
Negotiate your way effectively to strike a deal!!
- 1. ?
- 2. Possibilities in a negotiation
- 3. Process for a Win-Win Negotiation Clear Opening Statement Setting Objectives Generating Ideas Cooperation Clarification Accepting and Rejecting Settling and Concluding Outstanding Points
- 4. Clear Opening Statement Understanding of the background, current situation, and main interest of both parties by all participants in negotiation. An opening statement from each side before discussion progresses Summary of the company & interests
- 5. Statements
- 6. Setting Objectives Start at the beginning Primarily, both parties need to agree on the overall procedures and objectives Essential: In order that both parties have a clear idea of the agenda, and nothing will be forgotten or omitted
- 7. Statements
- 8. Generating Ideas Questioning and finding needs of each other (among parties) Brainstorm session: generate and discuss ideas, options to work on co-operation All ideas would not necessarily be agreed upon by the parties
- 9. Statements
- 10. Cooperation Climate of cooperation should be established from the beginning and maintained throughout Hence, language style must be chosen carefully, which is less forceful, unaggressive but direct
- 11. Statements
- 12. Clarification In cross-cultural negotiations, misunderstandings or few points might go unheard, hence clarify Rephrase statements and ask questions
- 13. Statements
- 14. Accepting and Rejecting It is necessary to recognize other party¨s proposals At times, you may not be able to accept, hence a clear suitable response must be given in acceptance or rejection of ideas put forward
- 15. Statements
- 16. Settling and Concluding Summary of what has been discussed in the meeting so far Recap the main points Effective notes during the negotiation helps in concluding and settling the deal
- 17. Statements
- 18. Outstanding Points Final stage is to identify areas that have not been agreed upon and to highlight any further action to be taken May organise another meeting to discuss the outstanding points Before closure, make sure all points have been amicably settled
- 19. Statements
- 20. Win-Win situation in the World of business Google¨s Motorola takeover Bank of Rajasthan with a wide branch and stakeholders merge with the mighty ICICI bank IFCI and Punjab National Bank merger Nokia-Microsoft agreement
- 21. ?