Win win negotiations for maximum joint gain
I hear so much about “negotiation” (and also “consultation”) these days. What role does negotiation play in business and what skills do I need to be an effective negotiator?
The objective of a Win-Win negotiation is to identify and maximize the value on the negotiating table for both parties, ensuring that both gain more than they contribute in effort, risk and cost.
Consider the diagram below. Ideally, effective negotiation in business transactions will result in both the company and the customer finding themselves in the Win-Win or Win more than the Lose situation.
What must I do before negotiating?
Can you give me some tips for pre-negotiation planning?
Decide on your strategy:
a) Minimum you can accept.
Your must achieve objectives
b) Maximum you can ask for.
Your want to achieve objectives
c) Maximum you can give away.
Concessions you’re willing to make.
d) Least you can offer.
Identify your ZOPA
The Zone Of Potential Agreement where you think your interests and the other party’s interests overlap.
Identify your BATNA
Your fall-back position or Best Alternative To a Negotiated Agreement – the alternative action you will take if a negotiated agreement does not prove possible.
Identify your WATNA
The Worst Alternative To a Negotiated Agreement.
Decide on an approach
Determine whether the negotiations call for collaborative or competitive negotiating strategies and tactics.
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