Important key in conducting business negotiations
Since the main purpose of a negotiation process is a lucrative deal or Hot Deals! For all parties involved in the negotiations, there are at least four main factors or we call the four keys that must be considered and is owned by the negotiators, or anyone you are involved in the negotiation process.
TIME or time is the first variable that affects the course of the negotiation process and determine the final outcome of the process. Time here including deadlines are owned by all interested parties in the negotiations.
It is important to remember that time here also means the deadline given by the stakeholders of the subject or matter that is being negotiated, although they are not directly involved in the negotiation process.
Therefore, with regard to the time the negotiators need to know the exact timeline or deadline owned, is also the order and the agenda that would be material to the negotiation process.
If the negotiators are not alert and vigilant with time, it will be at risk of future negotiations pointless having missed deadlines desired by the negotiating partners or stakeholders who have the intent with the outcome of negotiations.
INFORMATION or data information is required in the negotiation process. This is the second key, the second key is important to note that the accuracy of the data that is going to determine the outcome of the negotiations.
Strive primary data you get the most up to date and valid alias must necessarily true. If the primary data can not get it, you can also use secondary data to maximize some information from a variety of media.
However, secondary data has the disadvantage of the low validity aspects and sometimes not up to date.
Secondary data can be considered as well as a preview or entrance beginning to look for primary data or data directly from the source of the parties would negotiate with us.
Bargaining power or the strength of the bargaining positions held by the negotiating partners. The third key I’m sure you are all very familiar, but there is no blame us peel.
Bargaining Power here also included the bargaining power that we have that will determine how bold we will maximize our position in the negotiations.
Bargaining position is said to be one of the key success factors in a process of negotiation resulting bargaining power proved to significantly influence the behavior and attitudes of the negotiating partners.
The most common factor bargaining power was dominant role in the negotiations in a state of war or conflict.
Those who have a strong bargaining position tend to be aggressive over the course of the negotiations as well as the results achieved, as much as possible to seize what is the main goal of winning the negotiation.
In connection with this factor, a negotiator or an absolute negotiating team perform calibration to determine the bargaining power of each party involved in the negotiation process.
Calibration can be done by referring to the second factor, namely to gather and analyze as much information related to the subject and object in the negotiating process.
Knowledge, Skill, Attitude or Knowledge, Skills, and Attitudes that should be on every negotiator or those who carry out the negotiation process, often abbreviated as KSA.
In essence KSA is not only used or needed by negotiators however everyone career and entrepreneurship should have a CSA or that they successfully complete.
In our present study did not specifically will be discussed KSA anything that directly influence and impact on the performance of negotiators to produce a Hot Deals! That really Hot!
We will discuss the KSA more comprehensively on the Negotiation Skill, so please be patient we will soon be heading to the study in next week’s issue.
So as a conclusion, Key Negotiation 4 above shall be “held” by anyone with an interest in the process of Negotiation, to run with relatively easily and quickly produce an agreement that benefits all stakeholders.
In addition to that we know and understand Key Success Factor of Hot Deals presumably we should also discuss about the challenges, obstacles and problems are always present during the negotiation process.
It is very crucial that you and your negotiating team that could lead to anticipate as well as the necessary preventive measures, all right up here study Negotiation Skill Series, to meet in the next week’s issue.