Leadership Theories – Important Theories of Leadership
Just as management knowledge is supported by various theories, the leadership function of management too is authenticated by various theories. While the behavioural theories of leadership focused on discovering the constant relationship between leadership behaviours and the group performance, the contemporary theories emphasized the significance of situational factors (such as stress level, job structure, leader’s […]
Major Perspectives in Psychology-Psychodynamic Approach
The Psychodynamic Perspective: As per the Psychodynamic approach, human behaviour is an outcome of the role played by various psychological forces and early childhood experiences. The theory lays a lot of stress on the dynamics of relationship between the unconscious or conscious mind and also asserts that behaviour is an outcome of internal conflicts regarding […]
Netting, Close Out, and Acceleration
Netting is a procedure that is commonly used by organizations all over the world to reduce their counterparty credit default risk. However, in order for the netting procedure to be carried out, companies should have contracts in place prior to the default event taking place. There is another procedure called close-out which is closely related […]
Political Science and Other Social Sciences
Political Science and Other Social Sciences As mentioned in the introductory article in this module, political science is the systematic study of the state and the workings of the political economy. The study of political science gives people the ability to influence and persuade the authorities to conform to broad developmental thrusts and to steer […]
Leadership in the Digital Age and Why Contemporary Leaders Must Master These Skills
The End of the Command and Control and Top down Hierarchical Organisations The Digital Age is well and truly upon us. Compared to the earlier eras in business and society, the Digital Age needs new skill sets and mastery of these attributes would determine success or otherwise in the ongoing Fourth Industrial Revolution. Right from […]
Conflict has never benefitted anyone, instead it adds to one’s tensions and anxiety. It is better to discuss things and reach to an alternative benefitting all. Issues must not be dragged unnecessarily and efforts must be made to come to a conclusion involving the interests of all. No point in being adamant and rigid. One should strive hard to negotiate with each other and consider the needs, interests and expectations of all.
Negotiation is essential everywhere. It is not only the corporates where negotiation is important but also in our daily life. We all must try our level best to adopt negotiation skills to avoid misunderstandings and lead a peaceful and a stress free life.
Let us understand how negotiation is important in daily life:
Negotiation is essential in everyone’s family to maintain peace at home. We all need to compromise with each other to some extent to avoid disagreements at home.
Terren’s mother baked one of his favourite cakes but he had to share it with his brother Peter as well.
Terren negotiated with Peter that if Peter gives him the larger share, he would probably finish all his marketing assignments to which Peter gladly agreed as now he could enjoy his weekend with his friends. It was also a win win situation for Terren as now he could relish his favourite cake.
Terren fought terribly with Peter over the cake and neither Terren nor Peter could enjoy the cake. They spoiled the evening and got a good scolding from their parents as well.
Situation 1 is anyday a better option as both Terren as well as Peter could get whatever they wanted. The negotiation benefitted both of them and reduced the chances of disputes between the two brothers.
Negotiation also helps in effective buying. Every individual needs to save money for the rainy days. You just can’t spend money like anything. One must try his level best to negotiate with the second party to reduce the costs to the best extent possible. If you do not negotiate well you will end up spending more than required. Always remember the shop owner keeps a profit margin on almost all selected products. Don’t go and just pay whatever he asks for. Quote a price little less than what he quotes but do not forget to calculate the shop owner’s profits as well. If you intend buying some expensive brand, it is better to check out the prices of its competitors as well.
Negotiation is important but do not forget to be polite and dignified. Convince the shopkeeper as to why the price of a particular item should be a little less than what he has quoted. Discuss with the store owner. He will feel happy after all he needs to sell his products and even he looks forward to a loyal customer. It is better if both the parties negotiate with each other and come to a price which would satisfy both of them. (The customer as well as the store owner). The customer would afford to buy his product at a reasonable price and the store owner would also manage to earn his profits. Ask for discounts when you go out for shopping.
Negotiation reduces conflicts and improves the relation among individuals. We are human beings and unlike animals we live in societies and need people around. How would you feel if your next door neighbours don’t talk to you? People can’t stay all alone. They need the company of others to share happiness, sorrows and take each other’s help whenever required. Don’t always find fault in others. It is okay if your next door neighbour has parked his car in front of your house. Don’t go and fight with him. You might even need him some day. Don’t get hyper or over react. Try to understand the other person as well.
An individual must learn the skills to an effective negotiation to lead a happy and a peaceful life. Life is short and one must enjoy each and every moment of it. Why to unnecessarily fight with each other and complicate issues? Negotiation is essential for better bonding among individuals, lesser conflicts and a happy life.
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