Define and explain the term negotiation and also briefly explain the phases of negotiation

6 stages of negotiation process

This will lead to easier negotiations next time around. The first thing we need to determine is whether there is actually any reason to negotiate at all.

Kennedy If you sit down and analyse your negotiation preparation,certain patterns should begin to appear. Finely tuned communication skills are critical at this juncture as you explore options to create value and execute trades to capture value.

Handbook of Group Decision and Negotiation. Identification of your and their Interests Positions: Goals, Most Desired Outcomes, and Least Acceptable Agreements Best Alternatives to a Negotiated Agreement Concessions Know the relationship you want to build Plan to build trust Develop Probes to discover "Don't knows" and test Assumptions Stage 2 — Information Exchange The Information Exchange Stage occurs when you begin to engage the other side, share information and explore options that address interests — what you each need, as opposed to positions — what you each ask for later in the Bargaining Stage.

identify and explain the stages in the negotiation process

A successful outcome in a negotiation process can only be achieved through the application of the principles of seeking a common or mutual benefit, fairness and to ensure that the existing relationships are improved and maintained throughout the process. See our pages: Building Rapport and How to be Polite.

It is helpful to list these factors in order of priority. It seldom ends there as problems always arise. Definition of Ground Rules Once the planning and strategy are developed, one has to begin defining the ground rules and procedures with the other party over the negotiation itself that will do the negotiation.

Negotiation process pdf

This will also depend on the parties who are involved in the negotiation process. Implementing a Course of Action From the agreement, a course of action has to be implemented to carry through the decision. Each side should have an equal opportunity to present their case. Dealing with Difficult Situations. There are certain characteristics of the negotiation process. Informal Negotiation There are times when there is a need to negotiate more informally. After a deal has been settled upon, the parties which are involved need to play their part and ensure there is implementation of the deal. Stage 3: Bargaining Phase The bargaining phase involves coming closer to the objective you intended to achieve when you started the negotiation. We provide a lot of advice to help you improve your listening skills, see our page Active Listening. If you think success means all take and no give, you won't capture real value. Negotiation involves leaving ones comfort zone and stand so as to reach an agreement of which a compromise of ideas, position among others has to be done so that each one involved benefits in one way or another. It teaches lessons on how to achieve a better outcome. Post navigation. Bargaining and Problem Solving The essence of the negotiation process is the actual give and take in trying to hash out an agreement, a proper bargain.

There are numerous factors that influence our development as individuals. Depending on the kind of negotiation that is being carried out, there are different ways of closing the deal of the negotiation. Where will it take place?

There are two tools you will need from your negotiator's toolbox in the Bargaining Stage, the Probe and Creativity.

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Various Phases of the Negotiation Process