The key steps of negotiating and generating business deals

The five steps in negotiation process have been built in 1993 from various client experiences at organizations around the world. The process is used to negotiate or agreement is reached while avoiding argument and disagreements. Concession is granted in response on is a thing that response to demands (Dreu, 1999).

Figure 1: Negotiation Process

Source: (Watershedassociates, 2019)

The above process can be used to present valid solutions for dealing with issues that can arise as below,

Preparation

In this stage should consider what the other party might have to offer. Consideration has to be given to value of the concession, what worth are to company and what would be worth to the other side (Thomas, 2011). It shapes the other parties’ perception. For an example construction company can be made list of concession willing to off such as discounts.

Developing and choosing strategies

Company should be uncovered and evaluated wants and needs such as designs and quality etc. of other party. It is important to hold the line and show resolve with respect to value idea and opening position.

Opening and moves

Most suitable is get the other party to move first. It is helped to carry strong signals as to the flexibility of other party, can be adjusted the distance between the party’s position and setting high opening targets.

Bargaining and problem solving

High value is represented to the other party at lowest cost by low cost negotiable. Concessions of high perceived value can be found at comparatively low cost by it.

Closure and implementation

Use concession pattern designed to influence fundamental interests. It communicates resolve flexibility and then increasing returns moving toward closure.

Conclusion 

According to the above evaluation the negotiator will not give up too much too soon and that an appropriate and it is critical to ultimate success of the negotiation to deal with the concession process early. There are strengths of negotiation process such as able to compete with the major parties strengthening engagement, strengthening group loyalty, improving the clarity of the problem can lead to new innovative approaches, conflicts can be resolved, underlying problems can be resolved, focusing on fundamental issues and leading to improved energy levels and the possibility of influencing the management of the negotiations can be imagined. Fear of disability, feelings of insufficiency, low productivity through high conflict can be ruined relationships, can be ruined work patterns, huge amounts of productivity and productivity losses are some main weaknesses of negotiation process.

References

Dreu, B. a., 1999. Negotiation processes and outcomes in prosocially and egoistically motivated groups. International Journal of Conflict Management, 10(4), pp. 385-402.

Thomas, S. a. H., 2011. Managing organizational change: Negotiating meaning and power-resistance relations. Organization Science, 22(1), pp. 22-41.

Watershedassociates, 2019. Negotiation Stages Introduction. [Online]
Available at: https://www.watershedassociates.com/learning-center-item/negotiation-stages-introduction.html
[Accessed 07 November 2019].