We hope that business negotiators find what they're searching for in our free resources. This is the next best thing to coming to one of our negotiation training courses.
Negotiation Place: Does Turf Matter?
At the close of the day, I was escorted into his corner office. He was the managing partner of the law firm, and he sat behind a huge desk, in the power position. It was my final interview. If it went well, I hoped to receive a job offer. So began our negotiation. Many would state that I was already at a disadvantage. I was on his turf, in his office, at the mercy of his schedule, and he ruled the environment. I'm not so sure. While these factors can provide a leg up, I discovered some important
Haggling means to negotiate, argue, bargain or barter about the terms of a business transaction, usually focussing on the purchase or selling price of a product or service. A form of distributive negotiation. (See Negotiation Bargaining)
Business Contract Agreement Advice
Once upon a time, business people would seal a transaction with nothing more than a robust grasp of arms or a firm handshake. When the deal fell apart, they often settled the matter through a pain filled contest of weapons. Whoever was clubbed senseless or killed lost the argument. Years down the line, someone wiser, and probably less skilled with club or sword, decided there had to be a better way. And yes Virginia (in the U.S.of A ), is where lawyers originated, and aren't we all
A means to process and organize information. A frame provides a perspective of the problems or issues for a decision maker. One can use a frame to understand the importance of facts or issues in relation to each other. One can use this understanding of the facts or issues to then determine possible outcomes and consider contingency actions to solve a problem. Using a framework can allow you to consider all potential gains and losses and available options for any situation.
Business Negotiation Preparation
All good negotiation plans are premised on well-chosen strategies and adapting our tactics to meet new challenges. Preparation is not based on guesswork but on intelligence, and even more importantly, negotiation research. It is one thing to prepare for negotiation within our own country, but it is entirely different when we consider a business partnership that operates within an altogether different culture. If we don't prepare wisely beforehand, then we're likely to
This is usually a mutually agreed upon neutral third party to lead a complex meeting of two or more parties involved in a negotiation. Often employed in ‘multi party’ negotiations. Their purpose is to organize, aid, and offer assistance in helping the negotiating parties find their own solutions on the issues under discussion.
Getting them to the Negotiation Table
We have a vision that's going to set the world on fire and make us appear like a hero, if we can pull it off. What if the other negotiator doesn't want to come to the table? What happens if we do get them there, greet them with smiles and extended hand, and they respond with grim faces shadowed with deep suspicion? To get our negotiations off to a solid positive start, there are two hurdles we need to overcome before we set out on a positive foot. The first hurdle, is to get the other side to
A distributive negotiation type or process that normally entails a single issue to be negotiated. The single issue often involves price and frequently relates to the bargaining process. Also referred to as ‘Win – Lose’, or ‘Fixed – Pie’ negotiation because one party generally gains at the expense of another party. 'Win - Win' negotiation is conversely often referred to as Integrative Negotiation.
Building Trust in your Business Negotiation Relationships
Businesses' long term success can be judged by the extent to which they build and nurture their relationships. Every business is dependent on their internal and external relationships, between groups and individuals. We have suppliers, customers, clients, employees, collective bargaining unions, local communities and many more. Whether we realize it or not, we interact with these groups and individuals through our relationships with them. So how do we keep these relationships
A negotiation process where the debtor negotiates the amount, timing and any other terms of a loan such as arrears, liability, or balance owed to the creditor(s). Read this article for practical advice on how to handle your business debt negotiation.
Morals, Ethics & Feelings in Negotiation
One of my clients, a real estate developer, contacted me about a problem concerning a ten floor office building he was looking to rent. He was negotiating with a potential client, A, about renting 7 floors of the building. They almost had reached a deal but the draft of the contract was at A's office for approval. There had been no reply for a month. Meanwhile, another potential client B approached the developer about leasing the whole building at a higher rent than client A proposed
Counter Trade Agreement
An international trade arrangement with a foreign business partner. A barter system whereby the parties agree to exchange, or purchase (buy back) for resale, goods or services in exchange for another type of goods or services. Goods or services exchanged may be used in the primary product or service being sold.
How to Boost your Business' Negotiation Skills
We learn by doing, and by doing, we can learn even more. Makes sense doesn't it? When we stop learning, we become like the dog frantically chasing its tail, spinning around and going nowhere. Our business cannot be allowed to become like a stagnant pond, that surrenders to erosion and eventually disappears into the ever-changing landscape either. A business thrives by remaining vibrant and adapting to the whirlwind of changes that challenge us as managers. We upgrade our equipment
In a negotiation, a counterparty (counterparties – plural) is the other representatives(s) of the other negotiation party(s) with whom one is negotiating a potential agreement or contract.
Breaking Barriers to Business Negotiation Agreements
'You may be deceived if you trust too much, but you will live in torment if you don't trust enough' Frank Crane How in the world can we ever have hope to extend our civilisation to soaring heights, poised to caress the distant stars, without cooperating with each other? A business that toils away in isolation, in today's churning and ever evolving global world of dynamic commerce, will likely shrivel and perish with barely a noticeable whimper. There are many reasons why negotiations
A constituent is someone or a group on the same side of the negotiating party but who exerts an independent influence on the outcome through the principal negotiator, or to whom the principal negotiator is accountable. For example, a union negotiator must have an agreement voted upon by the union members (constituents) before it can be ratified as an agreement.
Negotiation Attitudes & Behaviours - from Failure to Success
Negotiating behavior is primarily determined by mental attitudes. If we are to excel in negotiation, as in other fields of endeavor, we must delve deeper than the process itself. If we study a process, we might become more competent car drivers, average guitar strummers, 15 minute-mile joggers or bearable after-dinner speakers. If you're pleased with achieving 45%, 50% or 55% of what's on the table, then you can settle comfortably in your comfort zone. Achieving excellence
Negotiation Concessions are also sometimes referred to as ‘trade-offs’ where one or more parties to a negotiation engage in conceding, yielding, or compromising on issues under negotiation and do so either willingly or unwillingly. Negotiation Concessions often include 'log rolling'.
Boost your Negotiation Listening Skills
'Do you hear what I hear?' That's the flashing, neon question mark at crucial moments in our negotiations. When negotiators gather together after hearing someone speak, we discover that we often recall somewhat dissimilar versions about what was said. People digest what others tell them and provide their own unique interpretation about what was said to them. We're typically overconfident of having correctly heard the speaker. If someone were to tell you that you have to hone-up
This term refers to the area of agreement or a basis for an understanding, that is mutually agreed upon by all parties to a negotiation.