Business Negotiations

Negotiations can be called as a way of resolving disputes. It is considered as being synonymous to settlement, agreement, collaboration and bargaining. It takes place almost in all spheres of life -be it is business, personal circumstances (married life, parenting, etc.), legal procedures, government matters, etc. Negotiation can be defined as a channel of communication intended to reconcile differences between parties and to settle conflict jointly. The parties aim at achieving a win-win position.

Negotiation involves minimum of two parties. The aim of negotiation is understood by both parties. The parties are willing to arrive at a mutually agreeable outcome. The outcome is acceptable to both parties.

• Do not discuss too many issues, emphasize on the prior issues.
• Be honest and straightforward. Don’t get carried away by rumours.
• Never give deadlines, it might lead to delays in deals.
• Keep away personal differences. Just focus your arguments on facts.
• Keep on giving recaps during the negotiation process.
• Avoid being rigid .Listen to the other parties view point if valid.
• Give testimonials for your argument. Support your argument with facts.
• Don’t make demands which can’t be accepted at all.
• Don’t let emotions overwhelm you.
• Be optimistic. Don’t fear losing. There are opportunities in other transactions also.

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