Negotiation Skills

NEGOTIATION SKILLS

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LEARNING OJECTIVES •

What is negotiation?

•

Why Negotiate?

•

Phases of Negotiation











What is Negotiation?

The process of two or more parties working together to arrive at a mutually acceptable resolution of one or more issues.











When and where do we negotiate? •

At Work Salary and job responsibilities, etc.

•

With Clients

•

Colleagues











Why Negotiate? Gavin Kennedy in his book The New Negotiating Edge says.. •

•

‘Animals do not negotiate. They use violence or the threat of violence to get what they want, whether it be food, a mate or territory.’ Have you ever seen 2 dogs negotiate over a bone?











NEGOTIATING NEGOTIA TING SKILLS •

Act assertively to achieve objectives

•

Reduce resistance & minimise conflict

•

Know how & when to accept the opinions, values & will of others

•

Work to achieve a WIN-WIN situation













POINTS TO REMEMBER











Phases of Negotiation •

Nearly all negotiations are characterized by five phases: –

Planning Setting goals and objectives











Phase 1: Planning •











Phase 1: Planning •

How to go about planning











Phase 2: Setting Goals and Objectives Vision or ultimate goal behind the negotiation

•

























Phase 3: Opening Position





































Phase 4: Bargaining



















































































































Question You are about to meet with a client who places monthly orders with your organization. You have just become aware that one of your leading competitors has launched a 25% across the board discount as a special promotion

to

attract

new

business. Would

this

information fundamentally change your approach at the meeting?











Answer Option B is correct. It is not in your interest to furnish the buyer with information about the competitors discounts. You should not assume that the buyer has the same information as you – they may not be aware of this promotion. Even if they are, they may have their own reasons for not











Compromising Negotiation Tactics Maintaining relationship between the parties •

Splitting the Differen Difference ce •

Finding a middle ground

•

Agreeable to both parties











Collaborative Negotiatio Collaborativ Negotiation n Tactics Establishment of trust for long term Establishment relationship •

•

Questioning to determine interest than reacting Framing negotiation for joined gains and common ground











Accommodating Negotiation Ac Tactics Satisfy needs of opposer and ex exclude clude your short term needs •

Uncover their needs by questioning •

You can’t be serious (exaggeration)

•

Your competitor quoted lower













Question You are preparing to negotiate the sale and support contract for some high value capital equipment.











Answer Option B is correct.











Closing Closin g Techniq echniques ues •

Concession Close If I reduce the price by 10%, will you take •











Closing Closin g Techniq echniques ues •

Adjournment Close •

We have summarised the benefits of what w hat is on offer. This is our final offer and we suggest that you











THANK YOU

Negotiation Skills

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