Improve Communication Skills of an Individual
An individual might have an extremely pleasing personality, in depth knowledge of the subject, a good and a very strong network but if he doesn’t have effective communication skills, he fails to prove his worth and his charm and talent go simply unnoticed. A person without effective communication skills will never be able to carve […]
How to Identify Operational Risks
In the previous article, we discussed about the top-down and bottom-up approach which has been created to identify risks. In this article, we will provide an alternate approach. This approach is similar to the bottom-up approach in that it uses process maps to identify risks. However, the way that they look at the process maps […]
Team Work – Meaning and Tips for better Team Work
A single brain sometimes is not capable of taking critical decisions alone. An individual needs the support and guidance of others to come out with an effective solution. When individuals come together on a common platform with a common objective of accomplishing a task, a team is formed. Ideally the team members should be from […]
Benefits of Enterprise Risk Management
In the previous article, we have discussed the concept of enterprise risk management (ERM) and how it is different from traditional risk management. We also discussed how enterprise risk management (ERM) is now being adopted by an increasingly large number of companies across the world. This large-scale adoption is because of the various benefits which […]
Different Types of Interpersonal Relationships
When two individuals feel comfortable in each other’s company and decide to be with each other, they enter into a relationship. A close association between individuals who share common interests and goals is called interpersonal relationship. Individuals who are compatible with each other enter into an interpersonal relationship. People must gel well for a strong […]
Negotiation is defined as a discussion among individuals, each one trying to present his best idea to come to a conclusion benefiting all. An individual gains nothing out of conflict and misunderstanding; instead it leads to stress and anxiety. It is always advisable to compromise to the best extent possible and try to find out an alternative which satisfies all.
An individual needs to adopt certain skills for a successful negotiation. Let us understand them in detail:
An individual before starting with the negotiation must be very clear with the agenda (topic) of the negotiation. Ask yourself - why this negotiation? What is the objective of the negotiation? One must be well informed. Try to find out more about the competitor’s products or services.
Let us suppose you want to buy a Parker pen for your friend’s birthday. Before purchasing, it is always better if you check out the prices of other brands as well for instance Mont Blanc. Also check out its features; it will help you in better negotiation with the store owner. Don’t go blank; the other party might fool you.
Before any important deal, do make it a habit to go through as many details as you can. The second party might ask you anything, you must be well prepared to clear all their doubts and convince them. If you yourself are confused, he would never bother to listen to you.
If your boss assigns you a project you are not very comfortable with, show your displeasure to your boss in a polite way and ask for something else. But make sure you are not rude; otherwise your job might be at risk.
Greg was offered a job with a leading advertising agency. He was really very happy as he was jobless for quite some time now. The HR quoted a figure to Greg, which did not impress him much. Greg tried his level best to negotiate with the HR, but unfortunately the HR had already found that Greg was in dire need of the job. He refused to negotiate further. Poor Greg had no option than to accept it.
Where did Greg go wrong ?
The only mistake he did was he made it very obvious that there was no way he could afford to miss this opportunity.
When a customer goes to purchase something, he must not forget that the store owner also has to earn his profits. The store owner should also understand the customer’s needs and pocket. Negotiation depends on mutual understanding.
No body is born with good negotiation skills; you need time to acquire them. Be tactful and patient. Understand the second party well - his needs, expectations and find out a solution beneficial to both the parties.
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